Senate Takes Action on Trump's Tax and Spending Bill Amid Economic Jitters

The U.S. Senate is initiating work on President Donald Trump's tax breaks and spending cuts bill, aiming to solidify a key GOP domestic policy. With Trump's tariffs causing global economic anxiety, the Senate faces challenges in balancing cuts with funding priorities, as Democrats prepare to contest the plan.

The U.S. Senate began proceedings to tackle President Donald Trump's ambitious tax breaks and spending cuts bill, marking a pivotal moment for the GOP's domestic policy agenda. The 52-48 vote sets the stage for intense discussions an effort to fulfill campaign promises despite potential economic repercussions.

With Trump's new tariffs unsettling global markets, the Senate Republicans must navigate complicated economic and political hurdles to pass the multi-trillion-dollar package. Meanwhile, Democrats remain committed to challenging elements of the proposal they deem harmful to social programs.

Concerns over the national deficit loom as Senate leaders reconcile fiscal priorities, seeking to extend existing tax cuts and enhance national security funding. The debate could extend through the weekend, with a final vote in sight, yet the funding dilemma persists in merging House and Senate plans.

(With inputs from agencies.)