Trump Action Archive

Supporting reports

• Senate Republicans advanced omnibus budget reconciliation bill with revised provisions — Late Friday night, Senate Republicans released a revised omnibus budget reconciliation bill. The measure retains its core structure extending 2017 tax cuts for wealthy Americans and corporations permanently, funneling wealth from poorest Americans to the top 1%. The Senate used accounting methods to claim the bill costs $442 billion rather than the $4.2 trillion the Congressional Budget Office calculates. The bill allocates $45 billion additional for ICE detention, $14.4 billion for migrant removal, and $8 billion for ICE hiring. It cuts $930 billion from Medicaid and additional amounts from Medicare and the Affordable Care Act, with the CBO estimating 11.8 million Americans will become uninsured.
• Senate lacks Medicaid framework for reconciliation bill — The Senate does not yet have a Medicaid framework that satisfies Byrd Bath requirements, 51 Senate votes, and 218 House votes. The House announced it is leaving for the weekend rather than remaining to work on the reconciliation bill. Budget analyst Marc Goldwein cited new Joint Committee on Taxation data showing the Senate bill is shaping up to add $3.5 to $4.5 trillion to the national debt, significantly more than the House version.
• Senate aims to vote on budget bill by July 4 — The Senate plans to begin voting on its version of the budget reconciliation bill, aiming for passage by July 4, as requested by President Trump. The urgency is partly due to overspending by the Department of Homeland Security, which could lead to a funding crisis for Immigration and Customs Enforcement (ICE).

Supporting reports

• Senate Republicans insert fossil fuel tax exemption into reconciliation bill; Warren and Democrats demand disclosure from oil companies — Senate Republicans inserted a provision into their reconciliation mega-bill this month that would exempt fossil fuel companies from the corporate alternative minimum tax (CAMT) enacted by Biden in 2022, potentially allowing some companies to pay zero federal income tax. On Thursday, Senators Elizabeth Warren, Sheldon Whitehouse, Ron Wyden, and Chuck Schumer sent letters to ConocoPhillips and Ovintiv demanding disclosure of lobbying spending, campaign donations, and projected tax savings related to the exemption. The senators characterized the provision as a "$1.1bn tax loophole" that contradicts the original purpose of CAMT to prevent large corporations from avoiding taxes.

Supporting reports

• U.S. trade deficit in goods surged to $96.6 billion in May — The U.S. trade deficit in goods reached $96.6 billion in May, up 11 percent from April and 6.5 percent above expectations. Exports declined 5.2 percent. Economist Peter Schiff noted that Trump's stated goal of reducing trade deficits while expanding markets for U.S. exports had "backfired" under the tariff policy.