Senate Readies Tax Bill for Vote as Holdouts Threaten Delay
Takeaways by Bloomberg AI
President Donald Trump’s tax-and-spending agenda is nearing a climactic vote in the Senate this week in the wake of air strikes on Iran, which risk embroiling the US in a prolonged Middle East conflict.
Trump’s $4.2 trillion tax-cut package, partially offset by social safety-net reductions, does not yet have the support it needs to pass the Senate. Fiscal hawks seeking to lower the bill’s total price tag are at odds with Republicans worried about cuts to Medicaid health coverage for their constituents and phase-outs to green energy incentives that support jobs in their states.