Richard Rubin

It limits itemized deductions for some high earners, and it repeals or phases out very quickly some tax credits for clean energy. It's got spending cuts, so Medicaid and nutrition assistance programs in particular will have less money, more frequent eligibility checks, more cost-sharing, pushing some costs to states, and some new work requirements for Medicaid in particular for able-bodied people.

And then the custom spending increases. There's more money in there for border security and for national defense. And so this is a mishmash. It really is just sort of smushing as many administration and Republican priorities into one piece of legislation as they possibly can.

And then the custom spending increases. There's more money in there for border security and for national defense. And so this is a mishmash. It really is just sort of smushing as many administration and Republican priorities into one piece of legislation as they possibly can.

The Republicans have a 53 to 47 majority in the Senate, so they've got three votes to spare because the vice president can break a tie. The Senate is off next week for Memorial Day, so they'll return in June and get cranking on this. The ultimate goal is to get this to President Trump's desk by July 4th. That's a bit of a stretch. In some ways, the real deadline may be the end of July when...

The Republicans have a 53 to 47 majority in the Senate, so they've got three votes to spare because the vice president can break a tie. The Senate is off next week for Memorial Day, so they'll return in June and get cranking on this. The ultimate goal is to get this to President Trump's desk by July 4th. That's a bit of a stretch. In some ways, the real deadline may be the end of July when...

We're approaching the debt limit, the need to raise the debt limit. I do expect some changes in the Senate, and we've heard that from senators today. They've got some concerns about the clean energy tax breaks. They've got some concerns about Medicaid. Some want more spending cuts. Some want fewer spending cuts. That said, senators have been working with the House all along.

We're approaching the debt limit, the need to raise the debt limit. I do expect some changes in the Senate, and we've heard that from senators today. They've got some concerns about the clean energy tax breaks. They've got some concerns about Medicaid. Some want more spending cuts. Some want fewer spending cuts. That said, senators have been working with the House all along.

So the House bill does already reflect some Senate priorities, but there are going to be some changes.

So the House bill does already reflect some Senate priorities, but there are going to be some changes.

Thank you.

Thank you.

The version that the House Rules Committee has posted is just over a thousand pages.

The version that the House Rules Committee has posted is just over a thousand pages.

The version that the House Rules Committee has posted is just over a thousand pages.

We're going to need a very large nutshell for this. This is an attempt to roll a bunch of Republican priorities into one piece of legislation. Basically, they've got so many different factions of the party that everyone can get something.

We're going to need a very large nutshell for this. This is an attempt to roll a bunch of Republican priorities into one piece of legislation. Basically, they've got so many different factions of the party that everyone can get something.

We're going to need a very large nutshell for this. This is an attempt to roll a bunch of Republican priorities into one piece of legislation. Basically, they've got so many different factions of the party that everyone can get something.

And even if there are parts of it that they don't like, that everyone will be on board for the one big, beautiful bill that represents the core of Trump's agenda.

And even if there are parts of it that they don't like, that everyone will be on board for the one big, beautiful bill that represents the core of Trump's agenda.

And even if there are parts of it that they don't like, that everyone will be on board for the one big, beautiful bill that represents the core of Trump's agenda.