Trump's Tax Bill Passes Senate: What’s Next for America’s Debt?

The recent passage of President Trump's tax bill by the US Senate has sparked significant debate and concern over its fiscal implications. The bill, which narrowly passed with Vice President JD Vance's tie-breaking vote, proposes sweeping tax cuts and reductions in social safety net programs, including Medicaid and SNAP. This legislation is projected to add at least $3.3 trillion to the national debt over the next decade, raising fears of a looming debt crisis.

Critics argue that the bill disproportionately benefits high-income earners while imposing financial burdens on low-income Americans, who could see a decrease in after-tax income. The bill also allocates substantial funding to immigration enforcement and border security, including a controversial wall with Mexico.

Despite Republican leadership pushing for its approval, the bill faces significant opposition from both Democrats and some Republicans in the House of Representatives. Concerns revolve around its impact on healthcare access, budget deficits, and the potential to exacerbate existing economic inequalities. As the bill moves to the House, the outcome remains uncertain, with potential implications for the nation's fiscal trajectory and political landscape.