• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Trump warns of ‘whopping 68% tax increase’ if Senate fails to pass historic bill

by July 1, 2025
written by July 1, 2025

As the Senate continued to inch closer to finalizing President Donald Trump’s ‘One Big Beautiful Bill,’ the president took to social media early Tuesday to warn that a failure to come to an agreement would end in the largest tax increase in history.

The message came after lawmakers had been in a marathon ‘vote-a-rama,’ for several hours, submitting amendments to the megabill from either side of the aisle.  

‘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. The failure to pass means a whopping 68% Tax increase, the largest in history!!!,’ he posted.

There is currently no end in sight as Republican leaders are searching for ways to garner support for the bill while simultaneously fighting proposed amendments from Democrats who are opposing it.

GOP leaders have a narrow margin and cannot afford to lose more than three Republican senators as two, Sen. Thom Tillis of North Carolina and Sen. Rand Paul of Kentucky has already indicated that they oppose it.

Tillis announced that he would not be seeking reelection after President Trump made threats of a campaign against him.

Senate Majority Leader John Thune of South Dakota said Republicans are ‘figuring out how to get to the end game,’ but an end to the vote-a-rama has been predicted to come well into the middle of the night.

The bill, if passed, will enact Trump’s domestic tax and spending agenda that includes $4.5 trillion in tax cuts, according to the latest CBO analysis. 

The package would also roll back billions in green energy tax credits threatening wind and solar investments, according to Democrats.

Billionaire Elon Musk, who until a few weeks ago led the Department of Government Efficiency (DOGE), took to social media late Monday, lashing out at Republicans as ‘the PORKY PIG PARTY!!’ for including a provision, he argued, would raise the nation’s debt limit by $5 trillion.

Trump fired back at Musk on Truth Social, threatening to turn DOGE on its former leader. 

‘Elon Musk knew, long before he so strongly Endorsed me for President, that I was strongly against the EV Mandate. It is ridiculous, and was always a major part of my campaign. Electric cars are fine, but not everyone should be forced to own one. Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!’ the president wrote. 

The bill will also impose $1.2 trillion in cuts to Medicaid and food stamps and make sign-up eligibility more rigorous and change federal reimbursements to states. It will also provide a $350 billion infusion for border and national security to include deportations.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Home Depot is buying GMS for about $4.3 billion as it chases more home pros
next post
Republicans scrap deal in ‘big, beautiful bill’ to lower restrictions on states’ AI regulations

related articles

Hawley blasts FDA approval of new abortion drug,...

October 2, 2025

Trump’s DOGE savings dwarfed by Medicare, Social Security...

October 2, 2025

FLASHBACK: James Comey urged officials to always prosecute...

October 2, 2025

The agency staff Vought might recommend cutting and...

October 2, 2025

Reagan-appointed judge, once rebuked by Supreme Court, continues...

October 2, 2025

‘Real consequences’: Food aid, flood insurance, FEMA funds...

October 2, 2025

Trump must triple severely outdated nuke arsenal to...

October 2, 2025

White House says federal layoffs could hit ‘thousands’...

October 2, 2025

Johnson shuts door on negotiating shutdown deal as...

October 2, 2025

Democrats refuse to budge over Obamacare fight as...

October 2, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • ‘Scream night’: Climate activists repeatedly disrupt DNC leadership meeting

    January 31, 2025
  • SCOOP: 38 GOP lawmakers say not repealing Biden’s green agenda in Trump tax bill is ‘hypocrisy’

    May 1, 2025
  • Iran’s weakened position could lead it to pursue nuclear weapon, Biden national security adviser warns

    December 24, 2024
  • Dozens wounded, at least 22 killed in airstrikes in Beirut as tensions escalate in Israel conflict with Iran

    October 11, 2024
  • Top 5 moments from Rubio’s Senate confirmation hearing: ‘I get bilingual protesters’

    January 16, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,247)
  • Investing (634)
  • Stock (935)

Latest Posts

  • Ex-Pentagon aide urges Trump to fire Hegseth, citing ‘full-blown meltdown’ and ‘total chaos’

    April 21, 2025
  • Gorsuch scolds Supreme Court litigator in rare, heated exchange

    April 29, 2025
  • Freshman GOP lawmaker rallies behind Trump’s rapid illegal immigration crackdown: ‘No time to waste’

    January 28, 2025

Recent Posts

  • Hawley clashes with UPenn law professor over judicial injunctions

    June 4, 2025
  • TikTok and fast-food rivalry fuel Chili’s sales as parent Brinker says turnaround is taking hold

    August 17, 2024
  • Chip Roy follows Trump’s lead with bill to ‘beat China’ on trade

    April 3, 2025

Editor’s Pick

  • New report warns of growing national security threat to U.S. as China builds AI: ‘Significant and concerning’

    December 21, 2024
  • FBI informant who made up Biden bribe story gets 6 years in prison

    January 9, 2025
  • China sentences journalist for espionage after he was detained while eating with Japanese diplomat

    December 1, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock