The Senate approves Trump’s megabill

The Senate officially passed President Trump’s tax-and-spending megabill yesterday following a marathon 27-hour voting process.

The “vote-a-rama” ended with a 51-50 margin in favor. Three Republican senators joined with all 47 Democrats in voting against, while VP JD Vance delivered the tie-breaking vote.

So, what’s in it?

The Trump-backed bill would lock in many of his administration’s top legislative priorities: a permanent extension of his 2017 tax cuts, a combined ~$300 billion in additional funds for border enforcement/defense, and various new tax breaks.

These include no taxes on tips/overtime/car loans, an increased SALT deduction, and permanently increasing the child tax credit by $200/year.

• The measure’s funding relies on a combination of increasing the national debt—projected at $3.3 trillion over 10 years—and cutting spending on other federal programs.
• Cuts include new work requirements and eligibility checks for federal safety-net programs (like Medicaid and food stamps), a phase out of tax credits for the clean-energy industry, and cost-saving changes to federal student loans.

It also looks a bit different now. The main differences in the Senate version compared to the House include:

• Making the standard tax deduction permanent, instead of expiring in 2028 as in the House’s version.
• Raising the federal debt limit by $5 trillion, instead of $4 trillion.
• Eliminating a House provision that would ban states from regulating AI for the next ten years.

The Senate’s version would also add ~$900 million more in federal debt over the next decade compared to the version that passed the House last month, per the Congressional Budget Office. And it's no longer officially called the “One Big Beautiful Bill Act,” after Schumer used Senate rules to strike the name from the record.

Criticisms abound

Democrats in Congress unanimously oppose the legislation, arguing it represents an unprecedented transfer of wealth from poorer Americans to businesses and the rich. The three Republican senators who voted “nay” specifically pushed back against the measure’s projected impact on the national debt, and to Medicaid funding changes that could reduce healthcare coverage for millions.

Elon Musk also re-joined the fray: In a series of social media posts ahead of Senate passage, the world’s richest man once again argued that the bill is fiscally irresponsible and shouldn’t pass. Musk pledged to support primary challenges to GOP lawmakers who voted “yes,” and suggested he could form a third political party.

• In response, Trump told reporters that “DOGE is the monster that might have to go back and eat Elon,” and said he might take a look into deporting Musk.

Looking ahead…The legislation now heads back to the House, where GOP leaders are hoping to get it approved and sent to Trump before a self-imposed July 4 deadline. But there’s a catch: any changes made by the House would also need to be re-approved by the Senate.

📊 Flash poll: In general, do you support the Trump-backed One Big Beautiful Bill Act?

• Yes
• No
• Unsure/other