After a marathon overnight session, the U.S. Senate advanced a key piece of legislation to unlock President Donald Trump's legislative agenda early Saturday morning. The resolution approved 51-48 will be the blueprint for a massive party-line bill that Republicans hope to pass without Democrats' help through a process known as "reconciliation.

The Senate has approved Donald Trump's tax and spending cut framework in a 51-49 vote, in a major win for the president. The vote, which ran into the early hours of Saturday morning, took place largely along party lines. However, two Republicans - Senators Susan Collins of Maine and Rand Paul of Kentucky - joined Democrats in opposition.

House fiscal hawks are already vowing to change the resolution that Speaker Mike Johnson wants to move next week.

President Donald Trump vowed Friday to stay the course on his sweeping tariffs plan, which on Thursday sent U.S. financial markets into their steepest one-day decline since 2020 and prompted retaliation from some major trading partners.

President Donald Trump’s sweeping new tariffs are facing blowback from all corners – a market sell-off, foreign retaliation, anger from corporate America and skepticism from the Federal Reserve chairman and some allies in Congress.