Parliament approves tax cut and expenditure bill. (Social media)
World News: In a significant move towards President Donald Trump’s economic agenda, the U.S. House of Representatives passed a major tax cut and spending bill on Thursday. Passed by a narrow 218–214 vote, the bill now moves to the President’s desk for final approval. Once signed, it will become law, marking a key milestone in Trump’s policy legacy.
Dubbed the “Big Beautiful Bill” by the Trump administration, this legislation aims to stimulate economic growth by slashing tax rates and restructuring federal spending. However, its potential long-term impact on the country’s finances has stirred sharp debate among economists, lawmakers, and citizens alike.
According to the Joint Committee on Taxation, the bill is expected to reduce government revenue by $4.5 trillion over the next 10 years while cutting federal expenditures by $1.2 trillion. Despite these cuts, the legislation would add approximately $3.3 trillion to the national debt, which currently stands at around $36.2 trillion. This increase has raised concerns about the nation’s fiscal sustainability.
The bill includes provisions to increase funding for border security, defense spending, and mass deportation efforts, aligning with Trump’s hardline policy stances. In contrast, it proposes significant reductions to Medicare, food safety programs, and clean energy initiatives.
Critics argue that such measures could weaken social welfare systems and undermine public health and environmental efforts. Experts caution that while the bill may offer short-term economic benefits, it could jeopardize the country’s financial stability in the long run.
The bill’s passage did not come without resistance. Democratic lawmakers strongly opposed the bill, with Congressman Hakeem Jeffries leading the charge. He delivered a historic 8-hour and 46-minute speech during the floor debate—the longest ever in the House of Representatives.
Beginning at 4:53 a.m. and concluding at 1:38 p.m., Jeffries used the opportunity to sharply criticize the administration’s leadership, calling it "chaotic, cruel, and corrupt." He added, “This nation deserves leadership rooted in integrity and compassion. Instead, we are witnessing disorder and degradation.”
With congressional approval secured, the bill now awaits the President’s signature. Supporters hail it as a victory for tax reform and economic freedom, while opponents view it as a threat to the middle class and essential services.
Once signed into law, the bill will reshape federal fiscal priorities and could define the economic trajectory of the United States for years to come.
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