The U.S. Senate narrowly advanced President Donald Trump’s sweeping tax and spending bill early Sunday, June 29, after a dramatic 51–49 procedural vote. The 940-page "One Big Beautiful Bill" aims to extend Trump’s 2017 tax cuts, eliminate taxes on tips, and allocate $350 billion for border security and military priorities. However, the Congressional Budget Office projects it would add $3.3 trillion to the deficit by 2034 and leave 11.8 million more Americans uninsured.
Billionaire Elon Musk slammed the bill as “utterly insane and destructive,” warning it would “destroy millions of jobs” and “give handouts to industries of the past while severely damaging industries of the future”. He specifically criticized cuts to electric vehicle tax credits (slated to end September 30) and clean energy investments, calling it “political suicide” for Republicans. Musk’s outburst reignites his feud with Trump, whom he previously accused of ties to Jeffrey Epstein after leaving his post as head of the Department of Government Efficiency.
Senate Democrats, led by Chuck Schumer, forced a full reading of the bill which happened to be a 12+ hour marathon, to protest Republicans rushing the legislation. Schumer accused GOP leaders of hiding “radical” provisions, including Medicaid cuts and rollbacks of green energy funding that Sen. Ron Wyden (D-OR) called a “death sentence” for renewable industries. With reconciliation rules allowing passage by simple majority, Democrats leveraged procedural tools to delay the process.
Republican dissent nearly derailed the vote. Thom Tillis (R-NC) opposed Medicaid cuts, prompting Trump to threaten primary challenges. Tillis announced he won’t seek reelection. Rand Paul (R-KY) condemned the bill’s $5 trillion debt increase, echoing Musk’s warnings. Holdouts Ron Johnson (R-WI), Mike Lee (R-UT), and Cynthia Lummis (R-WY) flipped to “yes” after late-night talks with VP JD Vance and Trump, who insisted the bill was a “necessary first step”.
The bill now faces Senate debate, amendment votes, and a final passage vote by July 4. If approved, it returns to the House where GOP leaders can afford few defections. Analysts note the bill disproportionately benefits top earners ($12,000 average tax cut) while costing the poorest Americans $1,600 7. With Musk vowing to “kill the bill,” and Democrats planning all-night amendment sessions, Trump’s deadline remains precarious.