Trumpʼs “big, beautiful” tax and spending bill passed in the US — all that remains is the presidentʼs signature

The US House of Representatives has finally approved Donald Trumpʼs "big, beautiful" tax and spending bill and sent it to the president for signature.

CNN and AP write about this.

Republican leaders worked through the night to secure the necessary votes. The result: 218 to 214. All Democrats voted against it, as did two Republicans. But the bill’s passage was already Trump’s first major legislative achievement of his second term. House Speaker Mike Johnson and Senate Majority Leader John Thune convinced nearly every member of their party to support the bill.

The US White House reacted to this and commented with the word "victory".

The nearly 900-page billʼs top priority is preserving $4.5 trillion in tax breaks enacted by Trump in 2017 during his first term, which are set to expire if Congress fails to renew them. It also proposes new tax breaks, including allowing workers to deduct tips and overtime pay, and a $6 000 tax credit for most seniors making less than $75 000 a year.

The document includes investments of about $350 billion in national security, Trumpʼs deportation program, and the development of the Golden Dome missile shield.

To offset the budget losses from tax cuts, the bill proposes $1.2 trillion in cuts to Medicaid and food stamps, largely through new employment requirements, particularly for some parents and seniors, and a significant rollback of green energy tax credits.

The nonpartisan Congressional Budget Office estimates that the bill would increase the government deficit by $3.3 trillion over a decade and leave 11.8 million people without health insurance.

As CNN notes, Trumpʼs bill will hurt retirees, students, taxpayers, low-income Americans, and hospitals the most. Instead, it will benefit American corporations, manufacturers, and high-income Americans.

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