Thune Sets July 4 Deadline for Reconciliation Deal

Key sticking points remain.

Capitol Senate
Capitol Senate
(AgWeb )

Senate Majority Leader John Thune (R-S.D.) laid out an aggressive timetable for a compromise budget bill, urging Finance Committee members to finalize a draft by week’s end to meet President Donald Trump’s July 4 signing deadline. Thune’s push signals that internal debate must end soon if legislation is to be passed on time. Finance Committee Chair Mike Crapo (R-Idaho) is driving efforts to make three provisions of Trump’s 2017 tax law permanent — including the R&D deduction, bonus depreciation, and interest expensing — all of which expire after five years under the House-passed bill. Key sticking points remain:

  • The balance between tax and spending cuts
  • Controversy over Medicaid reductions
  • Fate of green energy tax credits
  • Pressure to reduce the $40,000 SALT deduction backed by blue-state Republicans

The divide among Senate Republicans cuts across ideological lines: moderates object to deep Medicaid cuts, while fiscal conservatives want even steeper spending reductions. The clock is ticking, and even Trump’s full-court press, may not be enough to smooth intraparty fractures before Independence Day.
More policy updates from Pro Farmer.

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