President Donald Trump has intensified his efforts to rally Republican support for his sweeping "One Big Beautiful Bill," aiming for its passage by the Independence Day deadline. This renewed push comes amidst a complex landscape where the President is simultaneously navigating foreign policy challenges, such as recent U.S. airstrikes on Iran's nuclear facilities, while striving to advance his key domestic agenda.
The "One Big Beautiful Bill Act," Trump's paramount legislative objective, has met with considerable opposition. Fiscal conservatives within the GOP have raised alarm bells regarding its potential impact, and notably, Elon Musk, once a close associate, has publicly denounced the bill.
At least four Republican senators have voiced concerns over the bill's fiscal implications, posing a threat to legislation that barely cleared the House by a single vote in May. Senator Rand Paul of Kentucky remains a staunch opponent, telling TIME that he firmly rejects the bill's provision to substantially raise the debt ceiling. "Congress has been acting irresponsibly for decades," Paul stated. "We spend $2 trillion more than we take in." Senator Ron Johnson of Wisconsin echoed these sentiments on CNN's "State of the Union," indicating that there's "enough resistance to stop the process until the president gets serious about spending reduction." Despite Trump's personal appeals to senators, including Paul and Josh Hawley of Missouri, there's little indication that these efforts have swayed the skeptics.
The nonpartisan Congressional Budget Office (CBO) projects a substantial increase in federal deficits under the House-passed version of the bill. Initially estimated to add $2.4 trillion over the next decade, a revised CBO analysis suggests the deficit impact could reach $2.8 trillion. Furthermore, the CBO anticipates that the legislation, through Medicaid cuts and new work requirements, would strip health coverage from nearly 11 million Americans. The bill seeks to extend the 2017 Trump tax cuts, eliminate taxes on tips and overtime, and increase the child tax credit to $2,500. Conversely, it proposes slashing $1.7 trillion in government spending, with significant reductions to Medicaid and the Supplemental Nutrition Assistance Program.
In a dramatic public split, Elon Musk, who recently stepped down from his role leading Trump's Department of Government Efficiency, launched a scathing attack on the bill, labeling it a "disgusting abomination" and urging his followers to "KILL the BILL." White House Press Secretary Karoline Leavitt, however, downplayed Musk's criticism, stating that "the president already knows where Elon Musk stood on this bill." Senate Majority Leader John Thune has set a July 4th target for Senate passage, though any amendments would necessitate the bill's return to the House for another vote.
