President Donald Trump is urging Senate Republicans to pass his massive tax and spending bill before the July 4 holiday, despite growing internal divisions and fears of a ballooning national debt. Dubbed the “One Big Beautiful Bill Act,” the legislation would extend Trump’s 2017 tax cuts, increase military funding, fund immigration enforcement, and raise the U.S. debt ceiling by $5 trillion—pushing the total national debt well beyond $36.2 trillion.
While Republican leaders aim to fast-track the bill, party hardliners and moderates remain split. Some senators oppose deep cuts to social programs like Medicaid and rural hospital funding, while others insist on fiscal restraint. Senators Josh Hawley and Thom Tillis have voiced concerns about rural healthcare cuts, with Tillis doubting a proposed $100 billion rural hospital fund will be enough.
Senator Susan Collins also expressed reservations about Medicaid reductions. Trump, in a social media post, told Republicans to “lock yourselves in a room” until a deal is reached.
Treasury Secretary Scott Bessent, after meeting with Senate Republicans, expressed confidence that the bill would reach the House in time. However, the Senate version is projected to increase the deficit by more than the $2.8 trillion estimated for the House version, according to the Congressional Budget Office.
Senate Democrats, led by Chuck Schumer, have criticized the bill as a “debt buster.” The bill’s progress is further complicated by Senate rules, requiring reconciliation to bypass the 60-vote filibuster. The Senate parliamentarian has already blocked several conservative provisions, prompting backlash from House hardliners like Rep. Keith Self.
Despite these hurdles, Senate Majority Leader John Thune and House Speaker Mike Johnson remain optimistic about passing the bill quickly to deliver on Republican priorities.