Trump Presses Congress To Pass Tax Bill And ‘Get The Deal Done’ This Week After Iran-Israel Ceasefire

U.S. President Donald Trump on Tuesday urged Congress to quickly pass his “GREAT, BIG, BEAUTIFUL BILL,” calling it a crucial next step after brokering a ceasefire between Iran and Israel.

“Now that we have made PEACE abroad, we must finish the job here at home,” Trump wrote on Truth Social. “To my friends in the Senate, lock yourself in a room if you must, don’t go home, and GET THE DEAL DONE THIS WEEK.”

U.S equity markets climbed on Tuesday morning on hopes that Trump’s ceasefire between Israel and Iran will hold. The SPDR Dow Jones Industrial Average ETF (DIA) and the SPDR S&P 500 ETF (SPY) each gained more than 0.8%. Meanwhile, the Invesco QQQ Trust Series 1 (QQQ), which tracks the tech-heavy Nasdaq-100, rose by more than 1.1%. 

Trump claimed that the passing of the bill, officially called the One Big Beautiful Bill Act, heralds the coming of a “Golden Age” for the U.S., which includes “unprecedented Safety, Security, and Prosperity.”

The House narrowly passed the bill, but it faces a challenging path in the Senate, where Republicans hold a slim majority and internal divisions persist, especially over the projected $2.8 trillion increase in the national deficit over the next decade. “NO ONE GOES ON VACATION UNTIL IT’S DONE,” Trump wrote in the post.

Republicans are hoping that the bill – which proposes making Trump’s 2017 tax cuts permanent, allocates additional funding for border security and the Department of Defense, scales back Medicaid and SNAP benefits, limits taxes on tips and overtime, and changes state and local tax caps, among other things – will head for the Senate floor by the of the week.

However, the week’s not off to a great start. On Monday, Senate Parliamentarian Elizabeth MacDonough ruled several provisions ineligible for reconciliation, including measures to shift SNAP costs to states, restrict federal courts, repeal environmental rules, and defund the Consumer Financial Protection Bureau. A provision to allow federal land sales was also excluded.

Temporary limits on state AI regulation, although this faces internal opposition, and Sen. Josh Hawley’s compensation plan for radiation victims are still in the bill. Key fights remain over Medicaid cuts and the new SALT cap.

“Great unity in the Republican Party, perhaps unity like we have never seen before,” Trump said in a weekend post. “Now let’s get the Great, Big, Beautiful Bill done.”

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Read also: Israel Reportedly Strikes Iran Despite Trump’s Assurance That ‘All Planes Will Turn Around’