Senate Republicans are scrambling to craft their version of President Trump's massive budget reconciliation package before a self-imposed July 4th deadline – and they're making the House's already bloated bill even worse. The Senate Armed Services Committee wants to throw an additional $6 billion at Pentagon spending, bringing the total national security increase to $156 billion, including more money for the over-budget Sentinel ICBM program and the unfeasible "Golden Dome" missile defense system.

Meanwhile, other provisions would roll back hard-won oil and gas reforms, slashing royalty rates from 16.67% back to 12.5% and reinstating a non-competitive leasing loophole that lets companies grab federal land for just $75. With most Senate committees skipping markup hearings to meet the artificial deadline, this reconciliation package is shaping up to be one of the most expensive and least transparent in recent memory.

TCS Vice President Autumn Hanna, Policy Analyst Gabe Murphy, and Director of Research Josh Sewell break down the wasteful spending, parliamentary hurdles, and political realities facing this "one big beautiful bill.