Trump's 'Big Beautiful Bill' Dubbed 'The Titanic' Faces an Iceberg in the Senate

What President Trump calls his "big beautiful bill" is headed for a rude reception in the U.S. Senate. 

The mega-bill only passed the House by one vote and is facing opposition from some in the president's own party who are unhappy that it doesn't cut enough federal spending.

Wisconsin Republican Sen. Ron Johnson has named it "the Titanic," and says the bill is going down because it doesn't cut enough from the federal budget.
  
Johnson told CNN, "The only number we ever heard about was 1.5 trillion (dollars cut from the budget), which sounds like a lot, but it's only $150 billion per year. This year we'll spend over $7 trillion – 150 billion on that is basically a rounding error." 

The legislation also faces Democratic opposition over cuts to food assistance and Medicaid. 

Republican House Speaker Mike Johnson's response to GOP Senators: "We're doing the best we can." 

Johnson (R-LA) told CNN, "We've got to turn this aircraft carrier. You don't turn an aircraft carrier on a dime. It takes a mile of open ocean to do it. And it took us decades to get in this financial situation. We can't just flip a switch and get out of it overnight." 

The so-called "Big Beautiful Bill" would extend President Trump's 2017 tax cut, lift the federal income tax on tips and overtime work, and give $50 billion to resume construction of the border wall.
 
Meanwhile, President Trump says he'll delay his proposed 50 percent tariff on imports from the European Union. The tariffs were set to begin this coming Sunday, but Trump has pushed them back to July after a conversation with European Commission head Ursula von der Leyen.

Trump told reporters, "She just called me, as you know, and she asked for an extension on the June 1st date, and she said she wants to get down to serious negotiation."