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Senate Republicans passed Trump’s sweeping tax-and-spending package by a razor-thin margin Tuesday after an all-night vote-a-rama and visible party divisions, the AP reported. The Senate bill includes $4.5 trillion in tax cuts, making Trump’s 2017 rates permanent and adding new cuts, while repealing green energy tax credits. It also imposes $1.2 trillion in cuts to Medicaid and food stamps through stricter work requirements and eligibility rules, while allocating $350 billion for border and national security. The nonpartisan Congressional Budget Office projects the legislation would leave 11.8 million more Americans uninsured by 2034 and raise the federal deficit by nearly $3.3 trillion over the decade. The House is expected to vote Wednesday, with GOP leaders aiming to send the bill to Trump by July 4.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Senate Republicans passed Trump's sweeping tax and spending package by a razor-thin margin
00:07Tuesday after an all-night Von-A-Rama and visible party division, the AP reported.
00:11Senate bill includes $4.5 trillion in tax cuts, being Trump's 2017 rates permanent,
00:17adding new cuts while repealing green energy tax credits. It also imposes $1.2 trillion in cuts
00:22to Medicaid and food stamps through stricter work requirements and eligibility rules,
00:26while allocating $350 billion for border and national security.
00:31The nonpartisan Congressional Budget Office projects the legislation to leave 11.8 million
00:35more Americans uninsured by 2034 and raise the federal deficit by nearly $3.3 trillion over
00:42the decade. The House is expected to vote Wednesday with GOP leaders aiming to send the bill to
00:46Trump by July 4th.
00:48For all things money, visit Benzinga.com.

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