Senate Approves Trump Tax Bill Adding $3.3T Debt Amid GOP Divisions

President Donald Trump's ambitious tax reform bill, dubbed the "big, beautiful bill," seeks to implement $4.5 trillion in tax cuts while cutting over $1 trillion from Medicaid, leading to a projected $3.3 trillion increase in the national debt. The legislation, which passed the Senate with Vice President JD Vance breaking a tie, faces significant opposition within the GOP, including from Senator Thom Tillis who criticized the Medicaid cuts and announced he will not seek reelection. Billionaire Elon Musk has also expressed concerns over the bill's impact on the deficit, threatening to primary GOP lawmakers and even start a new political party. The bill is regressive, disproportionately benefiting high-income households while reducing after-tax incomes for the poorest Americans through cuts to healthcare and food assistance programs. House Republicans remain divided over the Senate's amendments, posing challenges for Speaker Mike Johnson as he attempts to finalize the bill by the July 4 deadline. Despite White House assurances that economic growth will manage the increased debt, the bill's future remains uncertain amid looming intra-party conflicts and potential electoral repercussions.