💨 Abstract

The U.S. Senate passed a major tax and spending bill pushed by Republicans, with Vice President JD Vance casting the tie-breaking vote. The bill, weighing in at 887 pages, includes $4.5 trillion in tax cuts, increased defense spending, and significant funding for border security and deportation efforts. Key provisions include making existing tax rates permanent, new tax breaks for tips and overtime pay, a higher child tax credit, and changes to state and local tax deductions.

Courtesy: WTOP Staff