🏛️ Behind the Scenes of the Senate All-Nighter
- The Senate pulled an all-nighter to pass the bill using the budget reconciliation process, which allows legislation to pass with a simple majority (50 votes) and bypass the filibuster.
- The process involved a "vote-a-rama"—a marathon session of votes on amendments, lasting over 27 hours.
- Senators coped with the long hours by napping in cloakrooms or hideaways, eating fast food (like McDonald's breakfast), and socializing in informal groups.
📜 Major Provisions in the Bill
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Extension of the 2017 Trump Tax Cuts
- Prevents a $4 trillion tax increase that would have occurred if the cuts expired.
- Includes new tax relief measures:
- No tax on tips (targeting service industry workers).
- No tax on overtime.
- Tax relief for seniors on Social Security.
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Border Security
- $150 billion investment in border infrastructure, including the wall, detention facilities, and hiring of agents.
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Military and Defense
- $150 billion for military modernization, including hypersonic weapons, submarines, and missile defense systems.
- $24 billion for the Coast Guard, including new polar icebreakers.
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Trump Accounts
- New private investment accounts for every newborn, seeded with $1,000.
- Encourages long-term savings and financial literacy.
- Supported by major CEOs like Michael Dell, who pledged employer contributions.
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School Choice
- Expanded 529 savings plans (up to $20,000/year).
- Federal tax credit (up to $1,700) for donations to scholarship-granting organizations.
- Aimed at increasing access to quality education, especially in underperforming school districts.
-
Spectrum Auction
- Mandates auctioning of 800 MHz of midband spectrum to private companies.
- Expected to generate $100 billion and boost 6G development and job creation.
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