The U.S. Senate passed a budget plan enabling the continuation of President Trump's 2017 tax cuts and significant government spending reductions, with a narrow 51-48 vote largely along party lines. Two Republican senators voted against the plan, which aims to allow the GOP to enact tax policies without Democratic support, amid fears of a recession spurred by recent tariffs. Analysts predict this framework could add approximately $5.7 trillion to the national debt over the next decade, while Republicans assert it will only result in a $1.5 trillion increase, raising significant concerns over financial sustainability.
Senate approval of the budget blueprint allows the GOP to pass significant tax cuts without Democratic votes, potentially adding $5.7 trillion to the national debt over 10 years.
Republican leaders argue that allowing Trump’s 2017 tax cuts to expire would effectively impose a tax increase on middle-class Americans and hinder economic growth amid market volatility.
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