So Trump's "Big Beautiful Bill" got through the Senate, but only after JDSports cast the deciding vote after 3 GOP Senators rejected it (making it a 50-50 vote).
It still needs to go back through the House for their approval, as it has been amended since last the House approved it. And given that some rejected it the first time for increasing the deficit too much, the Senate version increases it MORE than the original House version. So, will it pass? Sure it will, because the GOP are spineless, and they'll have been bought off by tiny concessions for their constituents. (Yay for tax relief on tanning beds!)
In this Senate-approved package:
The bill will add c.$650bn to the deficit each year. Personally I think that's conservative, and wouldn't be surprised if it's closer, or more than, $1tn once reality sets in. The debt ceiling will be raised by a mere $5tn as a result of the bill. So much for the party of fiscal responsibility!
It will, per estimates, see c.11m Americans losing their healthcare.
It will phase out many tax incentives for Green energy, and not only that but actually increase taxes on wind and solar projects. This will add to energy costs.
The general consensus is that this will likely stimulate the economy, but that the poorer will actually be worse off... not just gain the least while the rich gain the most, but that they will actually lose compared to now, once things like their healthcare is taken into consideration. But we'll see.
It still needs to go back through the House for their approval, as it has been amended since last the House approved it. And given that some rejected it the first time for increasing the deficit too much, the Senate version increases it MORE than the original House version. So, will it pass? Sure it will, because the GOP are spineless, and they'll have been bought off by tiny concessions for their constituents. (Yay for tax relief on tanning beds!)
In this Senate-approved package:
The bill will add c.$650bn to the deficit each year. Personally I think that's conservative, and wouldn't be surprised if it's closer, or more than, $1tn once reality sets in. The debt ceiling will be raised by a mere $5tn as a result of the bill. So much for the party of fiscal responsibility!
It will, per estimates, see c.11m Americans losing their healthcare.
It will phase out many tax incentives for Green energy, and not only that but actually increase taxes on wind and solar projects. This will add to energy costs.
The general consensus is that this will likely stimulate the economy, but that the poorer will actually be worse off... not just gain the least while the rich gain the most, but that they will actually lose compared to now, once things like their healthcare is taken into consideration. But we'll see.