Republicans in the U.S. Congress turned in earnest on Monday to their biggest challenge of Donald Trump's presidency: trying to bridge internal divisions over proposed cuts to Medicaid and popular green energy initiatives to pay for a landmark tax-cut bill they hope to enact by July 4.

We’ve got three legs to the President’s economic agenda, trade, tax and deregulation, and we hope that we can have this tax portion done by Fourth of July,” Bessent said.