Senate Republicans published an updated draft of their large domestic legislative package, which they aim to bring to a vote on Saturday. Key changes involve Medicaid and the tax plan, although less than 24 hours before the vote, some senators remain uncommitted.
Updated Draft and Voting Timeline
Senate Republicans unveiled the updated draft of their massive legislation late Friday. The leadership seeks to have the vote on Saturday in line with President Donald Trump's July 4 deadline. Despite efforts from Senate GOP leader John Thune, not all senators have committed their support.
Changes to Medicaid and Tax Plans
The new version of the bill reflects attempts to please various factions within the party. Republicans have kept in a tentative SALT deduction deal, raising the cap from $10,000 to $40,000 for five years starting in 2025. Additionally, the bill now includes $25 billion for rural hospitals to cushion Medicaid cuts.
Elimination of EV Tax Credits
Late Friday, the GOP confirmed its move to eliminate tax credits for electric vehicles. The new bill ends the $7,500 credit for new EVs and $4,000 for used EVs starting September 30. This change may complicate negotiations between the Senate and House as both chambers have different approaches to these credits.
While the bill is far from final, the changes made reflect Republican efforts to achieve consensus within the party. With limited time before the vote, further amendments are possible.
