Senate Republicans have introduced a new budget blueprint that aims to make the 2017 tax cuts permanent and proposes an additional $1.5 trillion in new tax cuts, using a "current policy baseline" method that controversially scores the cost of extending these cuts at zero dollars. The proposal also includes provisions to raise the debt ceiling by up to $5 trillion and is being advanced through the reconciliation process, allowing Republicans to bypass the typical 60-vote threshold in the Senate. This strategic maneuver sets the stage for further legislative activity to solidify and expand upon the 2017 tax policies, with significant potential impacts on the economy and national debt.
