The One Big Beautiful Bill (HR 1) , the Trump Administration’s tax and spend legislation, has squeaked by the Senate in a vote of 51 to 50. Three Republicans voted no, compelling Vice President JD Vance to cast the tie-breaking vote. All Democrats voted against the bill.
Republican Senators Rand Paul, Thom Tillis, and Susan Collins voted against the bill.
Republican leadership in the Senate, as well as President Trump, had been working the halls of Congress in the run-up to the vote to ensure they had sufficient support to bring the bill to a floor vote. The legislation will now return to the House, bringing it one step closer to becoming law.
Secretary of the Treasury Scott Bessent commented on the passage of the bill.
“Today’s Senate vote is a major step forward in enacting President Trump’s agenda to revitalize the American economy and provide certainty to households and businesses alike. Senate Republicans have taken decisive action to prevent a $4 trillion tax hike on hardworking Americans, while securing No Tax on Tips, No Tax on Overtime, new tax cuts for seniors, and vital provisions for the manufacturing sector.”
He encouraged House members to move quickly on the legislation and to the President’s desk to be signed into law.
While many Republican members have struggled with certain aspects of the bill, such as the increase in the deficit, Republicans had few options, as they needed a victory with midterms looming, along with portions of the prior Trump tax legislation that are set to expire. President Trump had publicly expressed dismay about the 68% tax increase that would take effect for individuals if the bill did not become law.
Small Business & Entrepreneurship Council (SBE Council) President and CEO Karen Kerrigan has been advocating for the passage of the legislation, stating that entrepreneurs and small businesses will benefit from the bill and urging all Senators to vote in favor.
She noted that certain tax reliefs impacting smaller firms would be made permanent.
“Indeed, permanency is powerful, especially as it relates to provisions that help small businesses retain more of their capital – such as the 20% small business deduction and lower individual tax rates – that will be plowed back into investment and growth,” said Kerrigan.