GOP senators press forward with Trump’s tax cuts package, deferring key decision

Senate Republicans are pushing ahead with former President Donald Trumprsquos ambitious tax cuts and spending reductions package this week despite deferring key decisions including the financial implications and methods of funding the multi trillion dollar initiative until a later stageThe Senate GOPrsquos budget framework is designed to complement the House Republicansrsquo dollar 45 trillion tax cuts proposal which includes slashing approximately dollar 2 trillion from healthcare and other government programmes If the Senate successfully moves this blueprint forward it would bring Trumprsquos allies in Congress one step closer to forging a compromise that paves the way for a final legislative outcome in the coming weeks according to APldquoWe are hopeful that this week we can pass a budget resolution that will unlock the processrdquo said Senate Majority Leader John Thune RSD ldquoWe are continuing to move forward with thatrdquoDespite significant differences between the House and Senate versions Republicans are under growing political pressure to deliver on what is expected to be Trumprsquos flagship domestic policy extending the tax cuts initially enacted in 2017 during his first term These tax breaks are set to expire at the end of the year and Trump has vowed to expand them further including exemptions on tipped wages overtime pay and other earnings as per AP reportsMeanwhile Democrats have strongly criticised the GOP tax plans labelling them as excessive giveaways to the wealthy House Democratic Leader Hakeem Jeffries alongside fellow party members on the Capitol steps asserted ldquoWe are standing together against the GOP tax scam and in defence of the American peoplerdquoOne of the central disputes between House and Senate Republicans revolves around the funding of these tax cuts The current tax reductions are projected to cost the federal government dollar 45 trillion in lost revenue over a decade and Trumprsquos additional tax breaks would drive that number even higher House Republicans are advocating for offsetting these costs with approximately dollar 2 trillion in cuts to healthcare and other social programmes to curb rising federal deficits and prevent the national debt currently at dollar 36 trillion from escalating furtherConversely Senate Republicans argue that since the existing tax cuts are already in place they do not represent new expenditures and therefore do not require offsetting spending cuts They intend to use the current policy as a baseline moving forward ensuring that only Trumprsquos proposed new tax reductions are accounted for in budgetary considerations Senate Republicans are expected to propose significantly lower spending cuts which could be adjusted upwards if necessary to align with the Housersquos dollar 2 trillion in reductions AP reportsDemocratic leaders including Senate Minority Leader Chuck Schumer have condemned the Senate GOPrsquos approach calling it a deception ldquoIt is an obscene fraud and the American people wonrsquot stand for itrdquo Schumer declared in a joint letter with Senators Jeff Merkley and Ron WydenNew Jersey Democratic Senator Cory Booker denounced the Republican baseline strategy as a ldquogimmickrdquo that would diminish essential federal services while exacerbating deficits ldquoWhat theyrsquore investing in is bigger tax cuts for the wealthiestrdquo Booker stated in a landmark overnight speech AP reportsAs Trumprsquos tax plan advances on Capitol Hill Treasury Secretary Scott Bessent has been actively engaged in discussions with GOP congressional leaders During a private meeting with Senate Republicans on Monday Bessent urged them to accelerate progress ldquoWe just have to start votingrdquo said Senator John Cornyn RTexas ldquoTreasury Secretary made the point that this was something we needed to do and do it quicklyrdquo Cornyn added emphasising that voting is set to commence this week ldquoWersquore going to grind through itrdquoA crucial step in the process involves securing approval from the Senatersquos nonpartisan parliamentarian who ensures compliance with budgetary rules Senators from both parties have been involved in behindthescenes negotiations with the parliamentarianrsquos staff arguing for and against the GOPrsquos proposed baseline approach However Republican leaders maintain that Senate Budget Chairman Lindsey Graham RSC should use his authority to advance their strategy without relying on the parliamentarianrsquos rulingWhat remains certain is the GOPrsquos determination to move swiftly The framework is expected to pass following an extended overnight voting session often referred to as a ldquovotearamardquo which includes deliberation on numerous amendments and procedural motions This process could extend into the weekend Only after the framework is approved will lawmakers negotiate the finer details of the legislation which could take weeks or even monthsWith inputs from AP