The Beautiful Bill passed this week. We have previously discussed that due to the Republican Party's use of budget reconciliation procedures, the Beautiful Bill can be passed as long as there is a consensus within the Republican Party. Within the Senate, fiscal conservatives are demanding greater spending cuts, while moderates are concerned that the bill's restrictions on eligibility for medical subsidies and cuts to funding for rural hospitals will harm voter interests. The real key issue lies in the state and local tax (SALT) deduction cap: the Senate version maintains the current $10000 cap, while the version passed by the House raises it to $40000. Yesterday, Senate Republicans were accepting a $40000 SALT cap, but the $500000 income threshold for the waiver is still under negotiation. The key point in the future is to start the multi day voting process on the bill before Friday. According to this schedule, the House of Representatives will then need to vote on the legislation before it can be sent to Trump's desk next week for signing into law, thus meeting the Republican deadline of July 4th.