The cuts would repeal or quickly phase out tax credits and loans for things such as home improvements for consumers, electric vehicles, wind and solar.

GOP leaders hope to have the sweeping bill to President Trump's desk by July 4, but some Senate Republicans are speaking out about what the bill would mean for the debt and Medicaid.

At the end of the day, there's no way for us to backfill a cut of that magnitude,” said Jen Flood, state budget director for Gov. Gretchen Whitmer.

This is slashing support for 1 in 10 Coloradans who rely on SNAP. And then it’s shifting billions in costs to the states.”

Sen. Rand Paul (R-KY) says at least four Senate Republicans are opposed to the “big beautiful bill” as the tax bill enters the upper chamber for consideration. Paul has suggested he won’t vote for the bill because it “explodes” the debt,

WASHINGTON (AP) — President Donald Trump faces the challenge of convincing Republican senators, global investors, voters and even Elon Musk that he won’t bury the federal government in debt with his multitrillion-dollar tax breaks package.

Sen. Ron Johnson of Wisconsin says he supports the president but wants to see the price of his sweeping tax bill come down before he supports it.

The budget reconciliation bill passed by the House and currently being weighed in the Senate makes many technical changes to Obamacare.

White House officials maintain bankers’ concerns are overstated and discount expected revenues from the president’s tariffs.