(The Center Square)—Republican leaders are racing to pass the Trump-endorsed One Big Beautiful Bill Act by Independence Day, but more than a dozen GOP members of Congress still harbor major concerns that could tank the giant package.
The House-passed OBBBA, a multitrillion-dollar budget reconciliation bill implementing President Donald Trump’s major policy priorities, has undergone Senate committee revisions and is currently under the Senate parliamentarian’s review.
House Speaker Mike Johnson, R-La., made a variety of delicate compromises to placate Republican factions in his chamber, narrowly passing the bill in May after months of assembling it.
Johnson helped accelerate the phaseout of Inflation Reduction Act subsidies and reform entitlement programs like Medicaid and SNAP to help offset the bill’s 10-year extension of the 2017 Tax Cuts and Jobs Act. The bill’s total of $1.7 trillion in spending cuts won over enough fiscal hawks — including Reps. Chip Roy, R-Texas; Ralph Norman, R-S.C.; Andrew Clyde, R-Ga.; and Josh Brecheen, R-Okla.; — for the bill to pass.
The speaker also compromised with Blue-state Republicans who wanted a higher state and local tax (SALT) deduction cap, settling on a $40,000 cap to place New York Reps. Rep. Mike Lawler, Nick LaLota, Andrew Garbarino and Elise Stefanik.
But, as The Center Square reported, Senate committees have either significantly scaled back or completely removed those very compromises in their revisions to the bill, alienating not only those lawmakers but also some in their own chamber.
Among other things, Senate committees increased the House’s $4 trillion debt ceiling raise to $5 trillion, extended most TCJA tax provisions permanently rather than for 10 years only, and dramatically slowed the phaseouts of energy-related IRA subsidies.
They also lowered the House’s hiked tax on university endowments, axed its tax on private foundations, softened its work requirements for Medicaid, and reduced fiscal penalties on states with high SNAP payment error rates.
These changes infuriated fiscal hawks in both the House and the Senate, with all four in the House who flipped, plus Rep. Thomas Massie, R-Ky., pledging not to vote for the bill again if the Senate passes it.
Additionally, Senate committees completely killed the House’s SALT provisions, losing the support of the four House members from New York, who are still hopeful for a future compromise but would also not support the bill when or if it returns to the lower chamber.
But the bill may not even pass the Senate, even though budget reconciliation rules require only a majority vote, because Sens. Ron Johnson, R-Wis., and Rand Paul, R-Ky., have decried the spending changes as well.
Other GOP senators — including Sens. Josh Hawley, R-Mo., Lisa Murkowski, R-Alaska, and Jim Justice, R-W.Va., — have said they have “major concerns” with the Senate version lowering the House’s 6% Medicaid provider tax cap to 3.5%, potentially impacting rural hospitals.
Johnson and Senate leaders are continuing to hold closed-door negotiations with holdouts in both chambers, and the Senate parliamentarian might rule out some of the more controversial changes if they violate the Byrd Rule.
The Biggest Threat to Your Retirement Is Actually a Very Good Thing
When you look at the headlines today, you’ll see experts in the retirement industry warning about big threats to your financial security:
- De-dollarization and the rise of BRICS
- Soaring national debt
- Unstable interest rates
- Weakened U.S. dollar
All of these are real concerns. But they aren’t the biggest threat to your retirement savings. The true risk isn’t political, monetary, or global.
It’s longevity.
Why Longevity Is the Silent Threat
For most of human history, the problem was the opposite — life expectancy was short, and few people even reached retirement. Today, thanks to medical advancements, healthier lifestyles, and better living conditions, people are living longer than ever before.
And while that’s a wonderful thing, it comes with a financial catch: Your retirement account has to last far longer than you might expect.
- A 65-year-old couple today has a 50% chance that one of them will live to 90.
- Some projections suggest that many of us will live well into our 90s, even 100+.
- This means your nest egg may need to stretch not for 15 years, but 25, 30, or even 40 years.
That’s where the real danger lies: running out of money before you run out of life.
The Retirement Equation Has Changed
While market volatility, debt crises, or central bank policies may feel like the scariest threats, they’re temporary storms. Longevity, however, is a structural shift. Every extra year of life is another year of expenses, another year of inflation erosion, and another year of financial pressure.
If your retirement plan doesn’t account for longevity, you could face tough choices later in life — downsizing, working when you’d rather not, or becoming financially dependent on others.
How to Take Control
The good news? Longevity is a blessing — as long as you’re prepared for it. With the right planning, your retirement savings can work for you instead of against you. The key is learning how to protect your wealth, outpace inflation, and ensure your savings grow even as you live longer.
That’s why our friends at Augusta Precious Metals created a free resource to help you get started:
👉 Get Instant Access to the report, “How to Take Full Control of Your Financial Future”
This brief report will show you practical strategies to safeguard your retirement from the biggest threat of all — the one that comes from the gift of living longer.
Don’t let longevity catch you unprepared. Take the steps today to secure tomorrow.
