Musk sinks Trump's tax bill: 'It is a disgusting abomination, it will bankrupt America'

Instead, the Senate Republican leader, John Thune of South Dakota, stated that the national debt ceiling must be raised and "bankruptcy is not an option". Thune acknowledged that it will take time to resolve the conflicting demands of the 53 Senate Republicans and put together a package acceptable to a majority of the 100-member body. Indeed, it is expected that all Democrats will oppose the bill. "We need to get to 51, so in the next two weeks we will find a way to get it done," Thune told reporters.

While most independent economists predicted that the House-passed version of the bill would add trillions of dollars to the US debt over 10 years, the White House said the tax bill would self-finance itself in part through economic growth.

Trump and Republican leaders said they had no choice but to add the debt ceiling to the tax bill to ensure a smooth passage and avoid a default as early as August.

Rand Paul issued a response to Trump, stating that he was in favour of the tax cuts, but also stated: 'I would also like to see the $5 trillion in new debt removed from the bill', adding that at least three other Republican senators agreed with him: a sufficient number to block the bill.

But other conservatives who opposed the bill have not yet declared that they would oppose any increase in the debt ceiling. Florida Senator Rick Scott said he wanted to balance the budget to avoid raising the debt ceiling in the future, but added that he voted for a draft budget that would allow an increase in the debt ceiling. Ron Johnson of Wisconsin said he could support a lower debt ceiling increase, on an annual basis, in exchange for large spending cuts.