US President Donald Trump signed a comprehensive tax and spending bill into law on Friday, a day after Congress narrowly passed it. This bill makes Trump’s 2017 tax cuts permanent, reduces federal spending on safety-net programs, and funds significant expansions in border security and defense. Trump, speaking at the signing ceremony at a Fourth of July picnic at the White House, expressed his satisfaction with the legislation, stating it addresses the needs of various groups such as the military, civilians, and jobs across all sectors. The bill, while achieving Trump’s goal of being signed on US Independence Day and marking America’s continuous success according to him, has faced opposition due to concerns over healthcare cuts and a projected increase in the national debt. The legislation also includes tax breaks, increased defense spending, and immigration enforcement, but it also reduces the federal food assistance program and implements the largest cuts to Medicaid health insurance for low-income Americans since its inception. Potential impacts include up to 17 million people losing insurance coverage and an addition of over $3 trillion to the nation’s debt.
Democrats view this legislation as a significant part of their strategy to gain control of Congress. Democratic National Committee Chair Ken Martin criticized the bill, stating that Trump’s support for it solidifies the Republican Party as the party for billionaires and special interests, not working families. Martin predicted that this law would negatively impact the Republican
Source: https://www.dw.com/en/trump-signs-big-beautiful-bill-into-law/a-73163263?maca=en-rss-en-all-1573-rdf
