Zürcher Nachrichten - US Senate edges towards vote on Trump's divisive spending bill

EUR -
AED 4.283851
AFN 73.487731
ALL 95.475232
AMD 432.980696
ANG 2.087841
AOA 1070.816537
ARS 1622.569301
AUD 1.639321
AWG 2.102556
AZN 1.976329
BAM 1.948961
BBD 2.350153
BDT 143.167615
BGN 1.945786
BHD 0.440554
BIF 3471.405161
BMD 1.166467
BND 1.489965
BOB 8.062707
BRL 5.828014
BSD 1.166806
BTN 110.612852
BWP 15.771589
BYN 3.285571
BYR 22862.749047
BZD 2.346765
CAD 1.596246
CDF 2706.203174
CHF 0.923585
CLF 0.026821
CLP 1055.618143
CNY 7.976591
CNH 7.98292
COP 4240.81832
CRC 530.637955
CUC 1.166467
CUP 30.91137
CVE 110.668563
CZK 24.40483
DJF 207.304627
DKK 7.472829
DOP 69.259002
DZD 154.830385
EGP 61.863559
ERN 17.497002
ETB 183.135497
FJD 2.5762
FKP 0.863327
GBP 0.866277
GEL 3.137941
GGP 0.863327
GHS 13.052952
GIP 0.863327
GMD 85.152274
GNF 10235.746283
GTQ 8.91468
GYD 244.122312
HKD 9.140142
HNL 31.040207
HRK 7.535839
HTG 152.823731
HUF 367.031692
IDR 20277.450381
ILS 3.497406
IMP 0.863327
INR 111.171261
IQD 1528.071492
IRR 1534487.060367
ISK 143.801971
JEP 0.863327
JMD 182.967953
JOD 0.82702
JPY 187.368385
KES 150.649127
KGS 101.983379
KHR 4677.531942
KMF 492.248906
KPW 1049.781227
KRW 1730.698645
KWD 0.359393
KYD 0.972384
KZT 540.453512
LAK 25633.107543
LBP 104436.761171
LKR 372.801813
LRD 214.484095
LSL 19.678175
LTL 3.444273
LVL 0.705584
LYD 7.407039
MAD 10.805856
MDL 20.087426
MGA 4840.837667
MKD 61.66201
MMK 2449.556444
MNT 4174.651856
MOP 9.419247
MRU 46.635096
MUR 54.859018
MVR 18.027751
MWK 2031.424536
MXN 20.500883
MYR 4.633185
MZN 74.543034
NAD 19.678918
NGN 1604.463581
NIO 42.821174
NOK 10.885351
NPR 176.980206
NZD 2.001681
OMR 0.44851
PAB 1.166806
PEN 4.110626
PGK 5.06267
PHP 71.842649
PKR 325.298418
PLN 4.262007
PYG 7259.525826
QAR 4.250024
RON 5.10866
RSD 117.357054
RUB 87.19153
RWF 1704.207977
SAR 4.374869
SBD 9.37704
SCR 15.984135
SDG 700.486194
SEK 10.885993
SGD 1.49523
SHP 0.870885
SLE 28.697358
SLL 24460.220841
SOS 666.642215
SRD 43.696996
STD 24143.507427
STN 24.729096
SVC 10.210172
SYP 129.168815
SZL 19.654905
THB 38.293355
TJS 10.939067
TMT 4.088466
TND 3.373714
TOP 2.808572
TRY 52.706568
TTD 7.934158
TWD 36.990411
TZS 3044.478063
UAH 51.42953
UGX 4346.746967
USD 1.166467
UYU 46.437049
UZS 14055.924874
VES 566.421989
VND 30743.398667
VUV 138.077204
WST 3.167979
XAF 653.660459
XAG 0.016135
XAU 0.000256
XCD 3.152435
XCG 2.102921
XDR 0.813865
XOF 652.055361
XPF 119.331742
YER 278.348137
ZAR 19.6955
ZMK 10499.598722
ZMW 22.023717
ZWL 375.60183
  • RIO

    -2.0000

    96.49

    -2.07%

  • RBGPF

    0.2800

    63.75

    +0.44%

  • RYCEF

    -0.4000

    14.9

    -2.68%

  • GSK

    -3.0700

    51.4

    -5.97%

  • RELX

    -0.2100

    35.8

    -0.59%

  • CMSC

    -0.0100

    22.82

    -0.04%

  • AZN

    -1.4800

    185.2

    -0.8%

  • NGG

    -1.4700

    85.98

    -1.71%

  • BTI

    -1.0200

    57.45

    -1.78%

  • BP

    0.4500

    46.8

    +0.96%

  • BCE

    -0.2400

    23.26

    -1.03%

  • VOD

    -0.1500

    15.34

    -0.98%

  • BCC

    -3.6100

    79

    -4.57%

  • JRI

    -0.0700

    12.74

    -0.55%

  • CMSD

    -0.1400

    23.06

    -0.61%

US Senate edges towards vote on Trump's divisive spending bill
US Senate edges towards vote on Trump's divisive spending bill / Photo: ANDREW CABALLERO-REYNOLDS - AFP

US Senate edges towards vote on Trump's divisive spending bill

US senators were inching Sunday towards a vote on Donald Trump's "big beautiful" spending bill, a hugely divisive proposal that would deliver key parts of the US president's domestic agenda while making massive cuts to social welfare programs.

Text size:

Trump is hoping the "One Big Beautiful Bill" will help seal his legacy, extending his expiring first-term tax cuts at a cost of $4.5 trillion and beefing up border security.

But Republicans eyeing 2026 midterm congressional elections are divided over the package, which would strip health care from millions of the poorest Americans and add more than $3 trillion to the country's debt.

The Senate formally opened debate on the bill late Saturday, after Republican holdouts delayed what should have been a procedural vote.

Senators narrowly passed the motion to begin debate, with two Republicans joining 47 Democrats in voting against it -- drawing sharp rebukes from Trump.

The US president has pushed his party to get the bill passed and on his desk for him to sign into law by July 4, the United States' Independence Day.

On Sunday, however, he seemed to cast doubt on that timeline, and accused the opposition Democrats of delaying proceedings for political reasons.

"There are a lot of bad people in the Democrat Party," he told Fox News in an interview aired Sunday, berating his political opponents for not backing an increase to the debt ceiling.

Earlier, Trump's tone had been even sharper.

"Republicans must remember that they are fighting against a very evil, corrupt and, in many ways, incompetent (Policywise!) group of people, who would rather see our Country 'go down in flames' than do the right thing," he said on social media.

Democrats are bitterly opposed to the legislation and Trump's agenda, and have vowed to hold up the debate. They began by insisting that the entirety of the roughly 1,000-page bill be read aloud to the chamber before the debate commenced.

If passed in the Senate, the bill would go back to the House for approval, where Republicans can only afford to lose a handful of votes -- and are facing stiff opposition from within their own ranks.

On Sunday, Republican Senator Thom Tillis, who opposes the bill, said he would not seek reelection next year, US media reported, after Trump excoriated him for his opposition to the spending plan.

- Divisive cuts -

Republicans are scrambling to offset the $4.5 trillion cost of Trump's tax relief, with many of the proposed cuts to come from decimating funding for Medicaid, the health insurance program for low-income Americans.

Republicans are split on the Medicaid cuts, which will threaten scores of rural hospitals and lead to an estimated 8.6 million Americans being deprived of health care.

The spending plan would also roll back many of the tax incentives for renewable energy that were put in place under Trump's predecessor Joe Biden.

On Saturday, former Trump advisor Elon Musk -- with whom the president had a public falling out this month over his criticism of the bill -- called the current proposal "utterly insane and destructive."

"It gives handouts to industries of the past while severely damaging industries of the future," said Musk, who is the world's richest person, and heads electric vehicle company Tesla and space flight firm SpaceX, among others.

Independent analysis also shows that the bill would pave the way for a historic redistribution of wealth from the poorest 10 percent of Americans to the richest.

The bill is unpopular across multiple demographic, age and income groups, according to extensive recent polling.

Although the House has already passed its own version, both chambers have to agree on the same text before it can be signed into law.

T.Furrer--NZN