
Trump makes case for ‘big, beautiful bill' and cranks up pressure on Republicans
Donald Trump convened congressional leaders and cabinet secretaries at the White House on Thursday to make that case for passage of his marquee tax-and-spending bill, but it remains to be seen if his pep talk will resolve a developing logjam that could threaten its passage through the Senate.
The president's intervention comes as Senate majority leader John Thune mulls an initial vote on Trump's 'big, beautiful bill' on Friday, ahead of a 4 July deadline Trump has imposed to have the legislation ready for his signature.
But it is unclear if Republicans have the votes to pass it through Congress's upper chamber, and whether any changes the Senate makes will pass muster in the House of Representatives, where the Republican majority passed the bill last month by a single vote and which may have to vote again on a revised version of the bill.
Trump stood before an assembly composed of police and fire officers, working parents and the mother and father of a woman he said died at the hands of an undocumented immigrant to argue that Americans like them would benefit from the bill, which includes new tax cuts and the extension of lower rates enacted during his first term, as well as an infusion of funds for immigration enforcement.
'There are hundreds of things here. It's so good,' he said. But he made no mention of his desire to sign the legislation by next Friday – the US Independence Day holiday – instead encouraging his audience to contact their lawmakers to get the bill over the finish line.
'If you can, call your senators, call your congressmen. We have to get the vote,' he said.
Democrats have dubbed the bill the 'big, ugly betrayal', and railed against its potential cut to Medicaid, the federal healthcare program for low income and disabled people. The legislation would impose the biggest funding cut to Medicaid since it was created in 1965, and cost an estimated 16 million people their insurance.
It would also slash funding for the Supplemental Nutrition Assistance Program (Snap), which helps Americans afford food.
Republicans intend to circumvent the filibuster in the Senate by using the budget reconciliation procedure, under which they can pass legislation with just a majority vote, provided it only affects spending, revenue and the debt limit. But on Thursday, Democrats on the Senate budget committee announced that the parliamentarian, Elizabeth MacDonough, had ruled that a change to taxes that states use to pay for Medicaid was not allowed under the rules of reconciliation.
That could further raise the cost of the bill, which the bipartisan Joint Committee on Taxation recently estimated would add a massive $4.2tn to the US budget deficit over 10 years. Such a high cost may be unpalatable to rightwing lawmakers in the House who are demanding aggressive spending cuts, but the more immediate concern for the GOP lies in the Senate, where several moderate lawmakers still have not said they are a yes vote on the bill.
'I don't think anybody believes the current text is final, so I don't believe anybody would vote for it in it's current form. We [have] got a lot of things that we're working on,' Senator Thom Tillis of North Carolina, a top target of Democrats in next year's midterm elections, told CNN on Wednesday.
In an interview with the Guardian last week, Alaska senator Lisa Murkowski declined to say how she would vote on the bill, instead describing it as 'a work in progress' and arguing that the Senate should 'not necessarily tie ourselves to an arbitrary date to just get there as quickly as we can'.
Democrats took credit for MacDonough's ruling on the Medicaid tax, with Senate minority leader Chuck Schumer saying the party 'successfully fought a noxious provision that would've decimated America's healthcare system and hurt millions of Americans. This win saves hundreds of billions of dollars for Americans to get healthcare, rather than funding tax cuts to billionaires.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Finextra
21 minutes ago
- Finextra
Clearspeed raises $60m for voice-based risk assessment tech
Clearspeed, the global leader in voice-based risk assessment technology, today announced it has secured $60 million in Series D funding, bringing the company's total funding to $110 million. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The round was led by Align Private Capital, with participation from IronGate Capital Advisors, Bravo Victor Venture Capital, and KBW Ventures. General David H. Petraeus (US Army, Ret.) also joined as a multi-round investor. In addition to the raise, the company will add Anna Nekoranec, Co-Founder and CEO of Align Private Capital, to Clearspeed's Board of Directors. Nekoranec said, 'Clearspeed has demonstrated true dual-use potential—with scalable commercial results and meaningful impact in high-stakes environments. It's rare to see a solution that can reduce fraud, mitigate security threats, and save significant costs without creating friction for the end user. This is the innovation needed to build smarter, more human-centered systems of trust.' In insurance, Clearspeed consistently yields more than 30X return on investment by assessing risk early in the claims and underwriting process – driving faster, more accurate decisions that improve customer outcomes, including cutting claims handling time in half and increasing immediate payments to customers by 40%. Zurich Insurance—a global multi-line insurer serving 75 million customers across 200+ countries—has significantly accelerated claims payment to customers where they've implemented Clearspeed, allowing them to provide more immediate relief in moments of need. 'We see Clearspeed as a powerful complement to an insurer's multi-layered global risk strategy—offering a streamlined, trust-building experience for customers while helping to make more confident decisions and combat increasingly complex fraud,' said Scott Clayton, Head of Claims Fraud, Zurich Insurance. Government stakeholders increasingly view Clearspeed's commercial success as critical to combating fraud, waste, and abuse—and advancing national security priorities such as countering threat financing, drug testing, personnel vetting, and partner force screening. Agencies using Clearspeed have seen a 95% reduction in vetting cycle time and a 65% drop in investigation costs. 'As security threats evolve, so must the solutions designed to counter them,' said private investor General David H. Petraeus (US Army, Ret.), former CIA Director and Commander of U.S. Central Command. 'Clearspeed's AI-enabled voice analytics delivers outsized value for personnel vetting, insider threat mitigation, and enterprise security—where building trust quickly is paramount.' 'This investment propels Clearspeed into a bold new chapter,' said Alex Martin, Co-Founder and CEO of Clearspeed. 'We're doubling down on the markets where trust and speed matter most—government, defense, insurance, banking—and expanding globally to meet the growing demand for secure, high-integrity screening. We're investing in our teams, accelerating innovation, and ensuring our technology stays ahead—not just to grow, but to help organizations worldwide realize the strategic advantage of rapidly establishing trust.'


Times
24 minutes ago
- Times
Why millionaires are planning to escape from New York
The morning after Zohran Mamdani's surprise victory in the New York City Democratic mayoral primary, Tom O'Donoghue's phone was ringing off the hook. O'Donoghue, who runs a luxury construction firm in the Hamptons — the summer playground for rich New Yorkers — said his clients were in 'complete disbelief' that a socialist was suddenly the favourite to win November's general election. 'One of my clients has 150 commercial buildings in the city and he just told me that he had contacted his attorney this morning. They're getting out of New York,' he said. • Meet Zohran Mamdani, the man who promises to make NYC affordable Though the former New York governor Andrew Cuomo had been the favourite to win Tuesday's primary, Mamdani snared 43.5 per cent of the vote, compared with Cuomo's 36.4 per cent. By 10.30pm local time, the ex-governor had conceded, saying of his opponent: 'Tonight is his night. He deserved it — he won.' Mamdani, a 33-year-old state assemblyman, promised to freeze rent on stabilised apartments, impose a 2 per cent wealth tax on New York residents who earn more than $1 million a year, and raise the corporate tax from 7.25 per cent to 11.5 per cent. New York is home to approximately 350,000 millionaires and 123 billionaires, according to Forbes, and many are seriously thinking about leaving the city. Bill Ackman, one of New York's most vocal billionaires, has long said that a Mamdani victory could lead to an exodus. In a post on X on Thursday, he said: 'The ability for New York City to offer services for the poor and needy, let alone the average New Yorker, is entirely dependent on New York City being a business-friendly environment and a place where wealthy residents are willing to spend 183 days and assume the associated tax burden. Unfortunately, both have already started making arrangements for the exits.' In 2021, the top 1 per cent of New York City taxpayers paid 48 per cent of taxes — up from 40 per cent in 2019, according to a report from the city's finance department. Wilbur Ross, who served as commerce secretary in President Trump's first term, predicted that a Mamdani mayoralty could increase the city's financial difficulties. 'I don't understand how New York is going to survive the desertion of wealthy people,' Ross, a former Wall Street banker, told The Times. 'New York City does not have strong financials and there is significant risk that the city will get into financial trouble because a few tens of thousands pay the bulk of income tax.' Harriet Newman Cohen, a divorce attorney to New York's wealthiest, is already worried about the exodus. The lawyer represented Mamdani's mother, the Indian-American filmmaker Mira Nair, when she split from her first husband in the late 1980s, but she says Mamdani's platform will make life harder for her clients. 'This will be hard on business,' said Newman Cohen, who also represented Cuomo during his 2005 divorce from JFK's niece Kerry Kennedy. 'I may see my practice go down because wealthy people will move out of New York City and my client base may go down.' • What Zohran Mamdani's win means for the Democratic Party Charles Saffati, who owns the Carlton Fine Arts gallery on Madison Avenue, where a $100,000 Marc Chagall painting was lost in a smash-and-grab robbery in 2023, said Mamdani's plans to cut the budget of the city's police department and create a new department focused on mental health intervention was 'crazy'. 'The quality of life would be disgusting,' he said. 'Wealthy people, along with anyone afraid of crime, will go to the suburbs and many companies will be looking for other places to move. 'All I've heard in the last day and a half is people saying they want to move their businesses out of the city.' Wealthy New Yorkers have long been attracted to the Republican stronghold of Florida thanks to the warm weather, low cost of living and lack of state income tax. During the pandemic, an influx of wealth reshaped the luxury property market in south Florida; from September 2019 to January this year, the median listing price in Palm Beach nearly doubled from $1.5 million to $2.9 million, figures show. Even before Tuesday's upset, the Florida governor, Ron DeSantis, trolled New Yorkers over the prospect of a Mamdani victory. 'Just when you thought Palm Beach real estate couldn't go any higher,' he posted on X this week. Mamdani, who has been called a 'TikTok savant' by The New York Times, won nearly half of early voters younger than 45 — many of whom recently have moved to the city and are struggling with the high cost of living and unaffordable rents. He also has a few wealthy backers, including the Sex and the City actress Cynthia Nixon, who celebrated his election win at a rooftop victory party in Long Island City on Tuesday night. 'Zohran's victory was so hard-fought, so hard-won and so deeply needed,' the actress wrote in an Instagram post, calling it 'one of the greatest nights ever'. Euan Rellie, the managing partner of the Wall Street investment bank BDA Partners, said he noticed this enthusiasm for the young mayoral candidate when he was dining at his favourite restaurant Malaparte in the West Village this week. The young waitresses were 'cockahoop' about the prospects of a Mamdani victory — a feeling he has some sympathy for. But he said he hoped that Mamdani would temper some of his policies before the general election. 'I just wish he would reach out to business and say, 'we recognise business does something for New York',' Rellie said. 'Because honestly, if you get even 10,000 rich people leaving New York and going to Florida — 10,000 more on top of all the ones who've left — that's a terrible dent to the tax base.' Mamdani's win has already had an impact on publicly listed firms with a stake in the New York property market. Shares of Flagstar, a regional New York bank which has billions in outstanding loans to rent-stabilised apartment buildings, fell by 6 per cent on Wednesday.


The Guardian
26 minutes ago
- The Guardian
Labor must protect environment while rewriting laws ‘written to facilitate development', Larissa Waters says
Greens leader Larissa Waters warns Labor's rewrite of national environmental laws will not be credible if the government uses its planned 18-month timeline to continue to approve new coal and gas projects or allow continued habitat destruction. Labor's proposal to create a federal environment protection agency collapsed in the final months of the last parliament. A deal with the Greens was being negotiated by the then environment minister, Tanya Plibersek, but Anthony Albanese pushed the changes off the agenda, fearing an electoral backlash in Western Australia. The newly appointed minister, Murray Watt, says Labor's 3 May victory gives the government a 'very clear mandate' to pass the so-called nature positive laws, which he says should be finalised and passed by parliament within 18 months. That progress will require support from the Greens, which hold the sole balance of power in the Senate. Sign up for Guardian Australia's breaking news email But Waters said Labor needed to do a 'proper job' in redesigning the Howard-era rules and to ensure they were not pushed down the political agenda ahead of the next election. 'They were always written to facilitate development and not to protect the environment. I say that in all honesty,' Waters said. 'What they are now very clearly weak on is meeting the challenges that we're facing. 'They don't have any reference to climate in them. Now that's just ridiculous, to have environmental laws that don't require explicit consideration of the climate.' Waters called for Labor to stop approvals for new mines, describing the post-election extension of Woodside's huge North West Shelf development out to 2070 as 'a massive, dirty gas bomb'. 'They do need a drastic rewrite. With the 18-month delay that the minister has now said, I take two messages out of that. 'Because I'm an optimist … maybe they can now take the time to do a proper job. 'But the other message I take is that this is not a priority for them. And I'm also worried that in that 18-month delay, that so much destruction will just continue. Things will just get ticked off while they're reviewing the laws – how convenient – and it's a smokescreen to just continue on business as usual.' The Queensland senator, who replaced former Greens leader Adam Bandt, made the comments in an interview for Guardian Australia's Australian Politics podcast, released on Friday. The National Farmers' Federation (NFF) has been lobbying the Greens on Labor's plans to make some superannuation tax concessions less generous for account holders with balances above $3m. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion The treasurer, Jim Chalmers, says the government is pressing on with the delayed changes and is expected to negotiate with Greens' treasury spokesperson, Nick McKim. The NFF chief executive, Troy Williams, recently wrote to Waters warning the proposal risks serious unintended consequences for family farming businesses, which often rely on superannuation for intergenerational succession planning. 'We would plead with you to use upcoming negotiations in the Senate to push for sensible changes to this tax to mitigate the unintended consequences for family-owned farms,' Williams said in a letter provided to Guardian Australia. 'This could include grandfathering existing arrangements, excluding agricultural land from valuations, taxing gains on realisation, and of course indexation.' The Greens have promised constructive negotiations and expressed concern retirement savings accounts are being used as vehicles for wealth accumulation. Waters told Guardian Australia the party would consider Labor's final proposal carefully. 'We will support tax changes that make the tax system fairer and I will be having those discussions with Mr Chalmers as the weeks roll on,' she said. 'I think we'll keep those discussions private.'