The U.S. Senate Finance Committee has released some of the final pieces of Republicans’ multitrillion-dollar budget reconciliation bill implementing President Donald Trump’s policy priorities.
Yet the major tax policy changes have already caused an uproar among Republican lawmakers in both chambers, jeopardizing the bill’s chances of reaching Trump’s desk by his self-imposed July 4 deadline.
Released Monday evening, the committee’s revisions to the House-passed One Big Beautiful Bill Act include making key provisions of the expiring 2017 Tax Cuts and Jobs Act permanent, rather than the House’s 10-year extension.
“This bill prevents an over-$4 trillion tax hike and makes the successful 2017 Trump tax cuts permanent, enabling families and businesses to save and plan for the future,” Senate Finance Committee Chairman Mike Crapo, R-Idaho, said Monday. “It powers the economy by permanently extending critical pro-growth provisions and introduces new incentives for domestic investment, providing certainty for American job creators to spur domestic economic activity and invest in their workers.”
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Author: Ray Hilbrich
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