During a closed-door meeting on Wednesday, President Trump committed to publicly support Senate Republicans in their effort to reduce the deficit.
According to Politico, Senate Republicans have a goal of reducing the spending deficit by at least $2 trillion as part of their reconciliation bill. This “big, beautiful bill,” as President Trump calls it, includes paving the way for $1.5 trillion in new tax cuts and immigration funding and according to Newsmax, some Republicans believe they may be able to reduce the deficit by $6.5 trillion. NBC News reported that this historic budget plan will also include a $5 trillion debt limit increase.
President Trump’s support will go a long way in winning over the chamber’s deficit hawks, who might oppose the details in the budget plan.
President Trump took to Truth Social to share his public support of the historic plan, writing, “Speaker of the House Mike Johnson and Senate Majority Leader John Thune have been working tirelessly on taking the next step to pass the plan for our ONE, BIG, BEAUTIFUL BILL.” He elaborated more on what this bill will do for the country, writing, “The Senate Budget plan gives us the tools that we need to get our shared priorities done, including certain PERMANENT Tax Cuts, Spending Cuts, Energy, Historic Investments in Defense, Border, and much more.”
Senate Republicans were pleased with his support, as Politico reports that they were hoping to release the text of the resolution to start the voting process before the end of the week.
The proposed budget also plans to make President Trump’s 2017 tax cuts a permanent law. According to NBC News, Treasury Secretary Scott Bessent is making this a priority, saying, “The American people gave this Administration a clear mandate to restore our nation’s prosperity—lower taxes, bigger paychecks, and a stronger economy.”
He also added, “I am dedicated to working with Congress in making permanent President Trump’s historic tax cuts and reviving the American dream.”
President Trump shares this enthusiasm on Truth Social, writing, “The Senate Plan has my Complete and Total Support. Likewise, the House is working along the same lines. Every Republican, House and Senate, must UNIFY.”
