The U.S. Senate narrowly advanced a sweeping tax-cut and spending bill championed by former President Donald Trump during a tense weekend session, marking a critical step in a legislative battle with far-reaching implications for American fiscal policy. The 51-49 vote to open debate saw two Republican senators join Democrats in opposition, highlighting internal party divisions over the $5 trillion expansion of the federal borrowing limit and proposed cuts to social programs.
Republican leaders, alongside Vice President JD Vance, engaged in closed-door negotiations to secure support for the 940-page bill, which aims to fund immigration enforcement, military priorities, and tax reductions. Democrats decried the legislation as favoring wealthy Americans while risking essential services for lower-income households. Senate Democratic Leader Chuck Schumer criticized the rushed process, stating, "Republicans are praying the American people don't realize what's in this midnight-hour bill."
The procedural victory followed hours of delays as Democrats demanded a full public reading of the bill—a tactic that could push final voting to Monday. Senators now face up to 20 hours of debate and a marathon amendment session known as a "vote-a-rama."
Notably, Republican Senators Thom Tillis and Rand Paul opposed the bill, drawing sharp criticism from Trump. Tillis cited concerns over Medicaid cuts impacting his home state of North Carolina, while Paul objected to the debt ceiling increase. Trump's social media posts hinted at potential primary challenges for dissenting Republicans, underscoring the high-stakes political dynamics.
Analysts suggest the bill's progression could influence global markets, given the U.S. economy's interconnectedness with Asian trade and investment flows. Business professionals and policymakers across Asia are closely monitoring developments for potential impacts on cross-border fiscal policies and investor sentiment.
