US President Donald Trump warned about a potential 68% tax hike if Congress fails to pass the One Big Beautiful Bill Act (OBBBA), which focuses on budget reconciliation.“Republicans, the One Big Beautiful Bill, perhaps the greatest and most important of its kind in history, gives the largest Tax Cuts and Border Security ever, Jobs by the Millions, Military/Vets increases, and so much more,” Trump wrote on Truth Social. “The failure to pass means a whopping 68% Tax increase, the largest in history!!!”The President’s statement coincided with ongoing Senate deliberations and subsequent voting regarding the OBBBA legislation.The resolution remained uncertain. Senate Majority Leader John Thune from South Dakota conceded that the Republicans were still determining their final approach.House Speaker Mike Johnson highlighted potential challenges the Senate package might encounter during its final voting phase in his chamber, anticipated later in the week, before Trump’s July 4 deadline.“I have prevailed upon my Senate colleagues to please, please, please keep it as close to the House product as possible,” Johnson, the Louisiana Republican, stated whilst departing the Capitol at dinner time. The House Republicans had previously approved their version the previous month.This represents a crucial period for the Republicans, who hold Congressional control and are hurrying to complete their work before Trump’s Friday holiday deadline. The 940-page “One Big Beautiful Bill Act” has become Congress’s primary focus, aligning with presidential priorities.The Republican leadership faces tight constraints with slim majorities in both houses. Thune cannot afford to lose more than three Republican senators. Two have already expressed opposition: Senator Thom Tillis of North Carolina, concerned about Medicaid access reduction, and Senator Rand Paul of Kentucky, who objects to debt limit increases. Tillis unexpectedly announced his retirement plans after Trump’s campaign threats.Focus shifted to key senators, including Lisa Murkowski of Alaska and Susan Collins of Maine, who expressed healthcare reduction concerns, alongside a group of four conservative GOP senators advocating for deeper cuts.
