WSJ Opinion: Potomac Watch The Senate Passes Donald Trump’s 'Big Beautiful Bill'
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Jul 1, 2025 The Senate narrowly approved a contentious GOP tax-and-budget package, pushing through with a tie-breaking vote from the Vice President. Amendments sparked debate, raising concerns on whether House conservatives will embrace them. Tensions rise as Senator Thom Tillis announces his decision not to run for reelection amid Medicaid reform discussions. The intricate implications of tax cuts, entitlement programs, and the battling perceptions of fiscal responsibility add layers of complexity to the political landscape.
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Murkowski Secures Food Aid Concessions
- The Senate bill includes concessions to Alaska Senator Lisa Murkowski to secure her vote.
- These concessions weaken food aid reforms by allowing poor-performing states more time.
Scoring Tax Cuts by Realistic Baseline
- Republicans use a current policy baseline assuming 2017 tax cuts continue, not expire.
- This makes the bill appear fiscally responsible despite headline cost figures.
Expiry of 2017 Cuts Would Spike Taxes
- Letting 2017 tax cuts expire means a large tax hike for many.
- Most policymakers do not expect these cuts to end, affecting cost perceptions.