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Senate GOP's Tax Bill Faces Backlash Over Medicaid Cuts

6/19/2025

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Republicans Advance Controversial Bill

Senate Republicans have pushed forward a controversial tax and spending bill that slashes Medicaid and renewable energy incentives, with a July 4 deadline in sight. By extending Trump-era tax cuts, the legislation threatens to add $2.8 trillion to the deficit, raising alarms among critics who fear it will exacerbate social inequality and jeopardize vital services for millions.

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Solar Stocks Plunge

Solar stocks took a nosedive as the U.S. Senate's spending bill threatened to slash renewable energy incentives, potentially phasing them out entirely by 2028. Enphase Energy plummeted 17%, while Sunrun saw a staggering 27% drop. The bill is also embroiled in disputes over tax deductions and Medicaid changes, with Senate Republicans pushing for a July 4 deadline.

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Republicans Advance Controversial Bill

Senate Republicans have pushed forward a controversial tax and spending bill that slashes Medicaid and renewable energy incentives, with a July 4 deadline in sight. By extending Trump-era tax cuts, the legislation threatens to add $2.8 trillion to the deficit, raising alarms among critics who fear it will exacerbate social inequality and jeopardize vital services for millions.

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