The Senate Finance Committee released portions of a revised version of the One Big Beautiful Bill Act, reigniting the debate over changes to the Medicaid program and the State and Local Tax Deduction.
The draft goes beyond the Medicaid cost-saving measures passed by the House, despite a plea from House Speaker Mike Johnson (R-La.) that Senators not tinker too much with the legislation.
At the same time, the Senate draft does not address the current $10,000 cap on State and Local Tax deduction, which some House Republicans had fought for.
Committee Chairman Mike Crapo (R-Idaho) presented the bill on June 16 as a boon to the middle class but seemed to acknowledge that further negotiations would be needed….