Senate Republicans Release Amendments to Trump’s $3 Trillion Tax-Cut Megabill

Senate Republicans have introduced an amended 940-page tax-cut and spending bill called the "One Big Beautiful Bill Act," which aligns with President Donald Trump's agenda by extending the 2017 tax cuts, eliminating taxes on tips and overtime pay, and increasing military and border security funding. The legislation also proposes a temporary increase to the state and local tax deduction cap and delays some Medicaid reforms, including a new stabilization fund for rural hospitals. While the White House claims the bill will reduce the deficit by $1.4 trillion, independent estimates suggest it could add about $3 trillion to the national debt over ten years. The bill faces significant opposition from Democrats due to proposed cuts to social programs like Medicaid and food stamps, which critics warn could negatively impact low- and middle-income Americans. Republican leaders are negotiating internally to secure enough votes, with some conservatives demanding changes to Medicaid provider tax limits. The Senate is scheduled to begin debate and voting soon, with a July 4th deadline intensifying the legislative push despite concerns about the bill's late release and complexity limiting thorough analysis.