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Trump's mega bill heads to House after it passes in Senate
CNBC Televisionยท 2025-07-01 18:32
Legislative Action & Timeline - Senate passed Trump's multi-trillion dollar tax package, sending it to the House for a potential vote as early as tomorrow [1] - House leaders aim to finalize the vote by July 4th, but this timeline is contingent on avoiding amendments that would require Senate re-approval [6] Key Points of Contention - The $3.3 trillion package includes clean energy tax credits, specifically scrapping a proposed tax on wind and solar projects sourcing parts from China and allowing tax credit access for projects starting construction within a year of enactment [2][3] - Fiscal conservatives in the House, like Congressman Chip Roy and Ralph Norman, oppose the bill due to increased spending and deficit concerns, particularly regarding green energy tax credits [4][5] Potential Obstacles & Negotiation - House opposition necessitates negotiation and potential compromises, with Speaker Mike Johnson aiming to avoid changes that would send the bill back to the Senate [2][6] - Moderate Republicans in the House, similar to Senators Tom Tillis and Susan Collins, may raise concerns, potentially focusing on spending provisions [5]