WASHINGTON -- The Republican-controlled US Senate on Saturday narrowly advanced President Donald Trump's major tax and spending bill, marking a key procedural step toward passing the legislation before his self-imposed July 4 recess.

The 940-page package, formally titled the One Big Beautiful Bill Act, was approved in a 51-49 procedural vote late Saturday night, with two Republicans joining all Democrats in opposition.

The vote allows formal debate to begin on the measure, which seeks to make permanent the 2017 tax cuts, increase military and border security spending, and reduce funding for key social welfare programs.

"Tonight we saw a GREAT VICTORY in the Senate with the 'GREAT, BIG, BEAUTIFUL BILL,'" Trump praised the victory in a post on TruthSocial.

Senate Democratic leader Chuck Schumer of New York accused Republicans of rushing the process and insisted that the entire bill be read aloud on the Senate floor before debate could begin.

Once the bill has been read, lawmakers will begin up to 20 hours of debate on the legislation before a final vote on passing it.

The bill was narrowly approved by a vote of 215 to 214 in the Republican-controlled US House of Representatives on May 22. If the Senate passes the bill, it will then return to the House of Representatives for final passage before Trump can sign it into law.