Up First from NPR GOP Megabill Latest, Tax Cuts And Debt, Sean Combs Conviction
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Jul 3, 2025 House Republicans are in a mad dash to push a massive tax and spending bill to President Trump's desk, amid fears it could balloon national debt by trillions. Internal divisions within the GOP complicate negotiations over tax cuts. Meanwhile, Sean Combs faces mixed verdicts in a high-profile trial that touches on serious allegations. The contrasting headlines underscore the shifting landscape of politics and celebrity, with significant implications for both government policy and public perception.
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GOP Tax and Spending Bill Overview
- The GOP tax and spending bill extends Trump's 2017 tax cuts and lifts the debt ceiling by $5 trillion.
- It also cuts Medicaid drastically, risking coverage loss for 11 million Americans, making it highly contentious.
Bill Worsens Debt and Inequality
- Independent forecasters predict the bill would add $3 to $5 trillion in debt over the next decade.
- Tax cuts mainly benefit the wealthy while lower-income families might lose more from cutbacks to safety net programs.
Economic Growth Expectations Skeptical
- White House claims the bill will boost economic growth, but the Congressional Budget Office sees only modest gains.
- Increased government borrowing may raise interest rates, potentially slowing economic growth for families and businesses.