Recently, the political arena in the United States has stirred again. On June 28, the Republican-controlled Senate proposed a new version of a tax and spending plan totaling a staggering $4.2 trillion. This move is clearly aimed at addressing the upcoming deadline of July 4, a date set by Trump.

The introduction of the new draft reflects the consensus reached by various factions within the Republican Party after prolonged consultations. Previously, there were serious divisions within the party on several key issues, including how to cut Medicaid and other social security programs, as well as how to gradually eliminate the renewable energy tax credit policy implemented during the Biden administration.

It is worth noting that the new draft includes a temporary agreement reached with House Republicans. This agreement proposes to raise the state and local tax (SALT) deduction limit from the original $10,000 to $40,000, effective for five years. After five years, this limit will revert to the original standard.

According to the current schedule, the Republican Party plans to initiate the voting procedure for the tax reform bill as early as noon local time on Saturday, with the final vote possibly taking place early Sunday morning. In order to complete the legislative process before the Independence Day deadline set by Trump, party leaders plan to recall House members early next week.

The introduction of this new tax reform plan and the upcoming vote will undoubtedly have a profound impact on U.S. economic policy. It not only relates to the immediate interests of ordinary citizens but will also affect America's position in the global economy. We will continue to monitor the development of this important event.