In a nail-biting finish, the U.S. Congress has narrowly passed what many are calling the "One Big Beautiful Bill," a sweeping tax-cut and spending package put forward by President Donald Trump. With a slim 218-214 vote, this megabill marks Trump’s biggest legislative win of his second term.
Behind the scenes, intense pressure from the White House helped tip the balance. A marathon nine-hour speech by Democratic House Minority Leader Hakeem Jeffries stalled proceedings, but in the end, the vote secured a controversial victory. The White House celebrated the win on social media, promising that Trump would sign the bill into law on the July 4 holiday.
The bill features major tax cuts, cutting taxes by $4 trillion over the next decade, along with various relief measures such as exemptions on overtime pay, tips, and increased thresholds for estate and gift taxes. However, experts warn that these benefits might primarily favor wealthier Americans.
On the spending front, the legislation proposes nearly $1 trillion in Medicaid funding cuts, stricter eligibility for the Supplemental Nutrition Assistance Program, and diminished incentives for clean energy projects. These changes, coupled with a federal debt ceiling increase of $5 trillion, are expected to add an extra $3.4 trillion to the deficit over the next decade.
Critics have slammed the bill as a reckless move that could harm low-income populations and widen the wealth gap, while Trump supporters claim it will drive economic growth, boost military spending, and enhance border security. As political tensions mount, both sides brace for the next chapter in this high-stakes legislative showdown. Stay tuned for more updates! 😎🔥
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U.S. Congress narrowly passes Trump's flagship megabill. What's next?
cgtn.com
