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Republicans Charge Ahead With Megabill’s Fate Uncertain
Tags: Current Focus, Renewal America, Managing Business, Climate Change Action, United States, Banks / Insurance, Oil & Gas, Renewable Energy, Capital Markets, The Economy, Inequality / Upward Mobility, Movement for Renewal of America, Health, Mental Health, Climate, 1. Climate Change Action, 2. Cost of Living Action, 3. Income and Wages Fairness, 5. Bringing Jobs and Factories to the US, 6. Capital Allocation for Infrastructure, Goods and Services, 8. U.S. Investment by Government+ Private, 10. Health- Body/Mind Wellbeing for All ,
The Big Beautiful Tax and Spending Bill in the US Congress faces close votes in the US Senate with Senators Rand Paul of Kentucky, and Thom Tillis of North Carolina, both Republicans against it. The Senate version has additional cuts to Medicaid funding. Tillis expressed concern about these cuts. Senator Rand Paul is opposed to increasing the deficit for enlarged spending and tax cuts. Republicans and DJT have close votes in the Senate and in the Congress.
Republicans Murkowski of Alaska and Curtis of Utah want to change the early phaseouts of tax credits to the renewable energy industry in the Senate bill, and the excise tax after 2027 to avoid buying from China and develop American manufacturing in renewables. Senator Collins of Maine has an amendment to add $25 billion for rural healthcare and rural hospitals to offset the effects of large Medicaid cuts. Collins plan also lets taxes revert to 39.6% from 37% for married couples incomes over $50 million.
The bill then heads back to the House for changes by Wednesday, July 2, for a goal to have it on the president's desk by July 4th, Friday.
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