Senate Republicans have published a new tax and spending bill totaling $4.2 trillion, aiming to finalize negotiations under political pressure.
Key Provisions of the Bill
The 940-page bill was released on Friday night following weeks of internal debates. Notable changes include raising the cap on the deduction for State and Local Taxes to $40,000, a significant point for senators from high-tax states.
Rural Hospital Fund as a Key Deal-Maker
The revised legislation introduces a $25 billion fund for rural hospitals in underserved areas. Of this, $20 billion will be allocated in the fiscal years 2028 and 2029, following intense negotiations.
Next Steps in the Approval Process
The Senate's initial vote on the bill is scheduled for Saturday at noon. If all steps are completed on time, a final vote may occur in the early hours of Sunday.
The Republican bill represents significant changes to tax policy and addresses crucial social issues. Approving it by July 4 is a critical goal for Republicans.
