From Newsweek:
The Senate has approved Donald Trump’s tax and spending cut framework in a 51-48 vote, in a major win for the president.
Newsweek contacted the Senate Republican Conference and Democratic Senate leader Chuck Schumer for comment on Saturday, via telephone and email respectively, outside of regular office hours.
The overnight vote lays the ground for congressional Republicans to submit a major spending bill to implement Trump’s pledged sweeping tax cuts. These include removing taxes on overtime, tips and social security benefits and extending a major round of tax cuts that Trump passed in 2017 during his first term.
The framework vote took place against the backdrop of a tanking stock market with the Dow Jones falling by 5.1 percent by early afternoon Friday, and the S&P 500 and Nasdaq by around 5.5 percent, as investors continued reacting to the major tariff program Trump unveiled on Wednesday, which he dubbed “Liberation Day.” Friday also saw Beijing hit the U.S. with a 34 percent trade tariff on all American goods in response to a similar levy targeted at China.
I’m going to raise the question: Have the tariff announcements this week been a distraction so this would go through without anyone noticing? Bottom line here is billionaires are going to get their tax cuts, while Kentuckians are going to lose access to healthcare, government assistance and, while we’re thinking about it, emergency disaster services at a time when tornados and floods are surging across the state.
Our U.S. senators, who showed a little spine earlier in the week, followed the GOP line. Don’t expect anything different from the rest of the congressional delegation.
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