President Donald Trump is urging the Senate to quickly pass his tax and spending bill, aiming for it to be signed into law by July 4th. He has been in contact with senators to garner support for the bill, which has already passed the House.
However, the bill faces opposition from various sides. Elon Musk criticized the bill as a "disgusting abomination," while Democrats oppose cuts to social programs like Medicaid and food stamps. These cuts are intended to offset the cost of tax cuts and increased border security spending.
The bill includes extending the 2017 tax cuts, new tax breaks, and $350 billion for border security. To offset costs, it proposes work requirements for some recipients of government assistance, potentially impacting millions. The bill also seeks to raise the debt limit by $4 trillion.