The big, beautiful bill is now being voted on in the Senate.  If approved, it will then be sent back to the House.  If the House accepts the Senate’s changes, it may be on the President’s desk for signature by July 4. If not, it will go to a House-Senate conference committee and may be delayed.  Nevertheless, I have very little doubt that it will soon be passed and signed into law.

Few senators and representatives are completely satisfied with the bill.  Democrat members of Congress will reject it on general principles.  They cannot abide the thought of giving President Trump a win.  As for Republicans, the fiscal hawks are extremely disappointed that the legislation will not do enough towards reducing our annual deficit.  Others express concern about the cuts to Medicaid, the SALT provisions, or other parts of the bill.  In the end, however, I believe that Republicans are convinced that the bill’s positives outweigh the negatives, and a search for perfection should not deny us the opportunity to achieve some good.

Trump eagerly awaits the legislation’s passage.  He assures us that it will spur America’s economic growth and ensure unparalleled prosperity.  I hope he’s right.  Only time will tell.

As for the national debt, our ticking time bomb, Trump believes that rapid economic growth along with increasing federal revenues will diminish its effect.  Also, the war against waste and fraud will continue.  Lastly, if the nation’s economy soars, Republicans may increase their majorities in Congress.  Then the fiscal hawks might get another swipe at the budget.