Senate releases Trump tax and Medicaid blueprint

Senate Finance Committee Chair Mike Crapo (R-Idaho) on Monday released the Senate’s long-awaited version of President Trump’s tax agenda, which would make the 2017 corporate tax cuts permanent, cut hundreds of billions of dollars in Medicaid spending and phase out renewable-energy tax cuts enacted under President Biden.

The legislative text crafted by Senate Finance Committee Republicans represents the core of Trump’s “big, beautiful bill” and includes the populist tax breaks that the president campaigned on, including provisions to shield tipped income from taxation...