The U.S. under the legislation would impose a $1,000 fee on migrants seeking asylum — something the nation has never done.

U.S. Treasury Secretary Scott Bessent said on Tuesday that discussions with House Speaker Mike Johnson over plans to extend President Donald Trump's tax cuts are going well and the bill is moving forward better than expected.

Up to now, Republicans have looked to the Medicaid healthcare program for lower-income Americans and green tax credits for $880 billion in spending cuts over a decade. Education and agriculture programs have been targeted for an additional $560 billion in cuts.