It is day 162 of the second Trump administration and tonight the focus is on the Senate floor. You are looking at it live right now. All day long, senators have been voting on amendments to Donald Trump's gargantuan tax and spending bill.Republicans are rushing to get the bill to Trump's desk in time for his deadline on Friday. Donald Trump wants you to focus on his campaign promises that are in the bill, like extending the tax cuts from his first term, billions of dollars for border security, and eliminati ...

What does it mean for motans. Uh, this bill, it's a nightmare like every other state. One out of two people in my state is on Medicaid if they're in assisted living.So, think about that. So, this they are literally giving tax cuts to the wealthiest, $400,000 tax cut to multi-millionaires on the backs of people in assisted living, kids who are getting kicked off of food assistance. And it is, as just pointed out correctly, over $4 trillion in debt, which is going to mean increased mortgage rates.It's going t ...

Republicans are waving a $3.8 trillion magic wand over their tax-and-spending megabill, declaring that their extensions of expiring tax cuts have no effect on the federal budget https://t.co/6s9ZtLGJXl ...

Joining me right now, we have Senator Amy Clolobashar, Democrat from Minnesota. Senator, I'm so glad you're here, and I know, ma'am, that you have a 3:20 p. m.uh speaking on the floor. So, we're going to get going right now for you. What is happening on the floor right now.And with the full text of the bill only released overnight, do your Senate colleagues really know what's in it. Uh that would be it is 900 plus pages. So, don't think so.But what we do know from some immediate analysis which Senator Schum ...

EUGENE ROBINSON. >> GREAT GROUP. >> TO START OFF.>> A BUSY NEWS MORNING. >> AND WE. >> WILL DIVE RIGHT IN, BEGINNING WITH.REPUBLICANS NOW FACING A. >> MAJOR SETBACK. AFTER A.SENATE OFFICIAL RULED AGAINST. >> A SERIES. >> OF.HEALTH CARE CUTS. AND SAVINGS IN THEIR SWEEPING. DOMESTIC POLICY BILL.>> THE NONPARTISAN. >> SENATE PARLIAMENTARIAN, ELIZABETH MCDONOUGH, DISQUALIFIED SEVERAL PROVISIONS, INCLUDING. ONE THAT PROHIBITS FEDERAL FUNDING OF MEDICAID.>> AND THE CHILDREN'S HEALTH INSURANCE PROGRAM. >> FOR ADUL ...

Market Outlook - CNBC's Fed survey participants show growing optimism about the outlook for markets, anticipating a bounce back in the economy and stocks in 2026 [1] - The survey projects the S&P 500 to reach 6133 by year-end, a 15% increase, and 6625 in 2026, nearly a 10% increase from yesterday's close [2] - Equity markets are near all-time highs, anticipating certainty on tariffs, extension of the 2017 tax cuts, deregulation, AI productivity, and Fed easing, potentially leading to economic reacceleration in the second half into 2026 [2][3] Interest Rates and Monetary Policy - The survey indicates no expectation for a rate cut next month, with the funds rate remaining above the long run neutral rate into 2026 [4][5] - The survey builds in two rate cuts for this year and one for next year [4][5] Fiscal Policy and Deficit - 82% of respondents believe the tax bill will increase the deficit [3] - Opinions are divided on the tax bill's impact on growth, with 29% more optimistic, 29% less optimistic, and 43% believing it doesn't matter [3][4] Inflation and Tariffs - A 43% to 32% margin believes tariffs will be one-time price increases rather than creating broader inflation [6] - 61% of respondents anticipate tariff inflation is yet to come in the months ahead [6]

Budget Bill & Market Focus - The Senate's version of the budget bill differs significantly from the House version, particularly regarding salt deductions, which are proposed to return to $10,000 from $40,000 [2] - The bill is perceived as market-driven, aiming to strengthen the economy, with tax cuts playing a significant role [4][6][14] - The bill is not primarily focused on cost reduction and is expected to increase the national debt [5][6] Medicaid & Work Requirements - The Senate's version avoids drastic cuts to Medicaid expansion, maintaining the federal government's share at 90% instead of reducing it to 50%, which would have affected approximately 20 million people [3][4] - Implementing work requirements for Medicaid recipients is complex and could lead to bureaucratic challenges and potential legal battles [8][9][10][12] - States may need to invest significant funds to implement and defend work requirement systems in court [12] Economic Outlook & Tax Cuts - Tax cuts are expected to support the economy, potentially leading to a rate cut later in the fall [14][15] - Weak job numbers are anticipated in September, October, and November due to federal employees leaving, which could impact how tax cuts are perceived [15][16] - Reinvesting business tax cuts back into the economy is crucial for achieving higher growth and managing the deficit [17] Medicaid System Challenges - Medicaid is overly complex, with approximately 1,500 ten-digit codes, leading to waste, fraud, abuse, and misbilling [22][23][24] - Simplifying Medicaid at the federal level is essential to address these issues, but Washington often overlooks the complexities at the grassroots level [25][27] - Medicaid and Medicare are major drivers of increasing government spending, while discretionary spending receives more attention [30][31] Fiscal Sustainability Concerns - A fiscal crisis is anticipated in approximately eight years, with Social Security and Medicare facing bankruptcy and debt reaching $42 trillion [33][34] - Interest rate payments are projected to increase from $1 trillion to $1.3 trillion annually in about nine years [34] - Addressing these long-term fiscal challenges requires political courage, but there is a reluctance to tackle issues like Medicaid and Medicare [33]

boosting the richest by $12,000 a year. Joining us right now is Phil Swagel. He's the director of the Congressional Budget Office.And Phil, let's talk through some of the criticism you've received. Russ Vought said on X that this bill reduces deficits by $1.4% trillion. When you adjust for the CBO's one big gimmick, not using a realistic current policy baseline.Caroline Leavitt said that the CBO assumes long term GDP growth of an anemic 1.8%. And that's absurd. And then you had President Trump himself sayin ...

Tax & Spending Bill & Debt Ceiling - Republicans aim to pass President Trump's tax and spending bill by July 4th, facing challenges in the House and Senate [1] - The debt ceiling will drive the timing of the bill's completion, as it forces action [3] - The framework of the bill will likely remain the same due to reconciliation rules, limiting potential changes [8] Political Dynamics & Negotiation - President Trump's influence is crucial in aligning Republican votes in both the House and Senate [4] - Some Republican senators are outspoken against the bill, seeking leverage to tweak it [5][6] - Speaker Johnson needs to manage Senate changes to ensure the bill's passage in the House [6][7] Deficit & Long-Term Concerns - The speaker is concerned about the deficit, but the real drivers are Social Security and Medicare [10][11] - Bipartisanship is needed to address the long-term drivers of the debt, but public education is lacking [12] - The current bill includes populist giveaways, such as no taxes on tips, which may not significantly impact most servers [15][16] China & Critical Minerals - China has leverage over the US due to dependence on critical minerals [25] - The US needs to speed up the process of developing new mines to reduce China's leverage [26] - China controls 90% of critical minerals and 95% of the processing, posing a national security concern [27]

Immigration Policy Analysis - Trump's deportation numbers initially lower than Biden's, later surpassed but still less than half of Obama's record [1] - Obama's 2013 deportation record surpasses Trump's [2] - There is no evidence that Trump's immigration policies are protecting American jobs or lives [2] Government Spending & Budget - $134 million of taxpayer money spent on troops in LA [3] - $45 million of taxpayer money allocated for a military parade [3] - Budget includes cuts to Medicaid, food programs, and other benefits while expanding tax cuts [3] Political Strategy & Public Perception - Trump excels at marketing and branding, aiming to be known as the "deporter chief" [2] - Trump is producing television to grab attention [2] - The report urges staying informed and engaged on every move coming out of the White House [4]