What’s in Trump’s Tax Bill That Just Passed the Senate
July 1, 2025
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1:35Now PlayingWhat’s in Trump’s Tax Bill That Just Passed the Senate
YouTube Description
as posted by the channelPresident Donald Trump’s multitrillion-dollar tax and spending package moved closer to reality after it passed the Senate Tuesday.
Republican senators altered an earlier version approved by the House to make deeper cuts to safety-net programs such as the Medicaid health insurance for the poor and disabled. The Senate bill also would speed up elimination of clean energy tax breaks.
Businesses benefit from Senate changes that would make permanent a series of breaks that had been offered only temporarily in a House version, as well as a more generous break for companies in high-tax states.
The president’s signature economic legislation would extend expiring tax cuts for businesses and individuals initially passed in 2017 and add temporary new breaks for tipped and overtime workers, the elderly and car-buyers who take out loans. It provides hundreds of billions of dollars in new funding for defense and for Trump’s immigration crackdown.
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