The row comes with Wall Street leading a global markets bloodbath as countries around the world reel from Trump's trade war, and Democrats argue that now is not the time to be entertaining significantly reduced government spending.
Senate and House Republicans have been at loggerheads over how deeply to wield the knife, with lawmakers already wary of public anger over an unprecedented downsizing of the federal bureaucracy led by Trump's tech billionaire advisor Elon Musk.
“This resolution is the first step toward a final bill to make permanent the tax relief we implemented in 2017 and deliver a transformational investment in our border, national, and energy security - all accompanied by substantial savings,“ Republican Senate leader John Thune said.
- 'Vote-a-rama' -
If the plan gets through the Senate, it will still need approval by the House, with Republican leaders desperate to get it to Trump's desk before Congress begins a two-week Easter break next Friday.
The proposal would raise the country's borrowing limit by $5 trillion to avoid a debt default this summer, staving off the need for a further hike until after the 2026 midterm elections.
The libertarian Cato Institute called the resolution a “fiscal train wreck” that “actively worsens our nation’s debt trajectory.”
But Senate and House Republicans are oceans apart on spending cuts, with the upper chamber looking for modest savings of $4 billion, while House leadership is demanding a reduction of $1.5 trillion.
Republican Congressman Ralph Norman of South Carolina was asked about supporting the Senate resolution and told reporters: “To me, it’s dead on arrival.”
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