Trump signs 'big, beautiful' tax and spending bill
PANews July 5 news, according to Xinhua News Agency, US President Trump signed the "big and beautiful" tax and spending bill on the afternoon of the 4th, marking that this controversial bill has officially become law. The bill was passed by the US House of Representatives with a narrow margin on the 3rd, and Trump turned the signing ceremony into part of the US "Independence Day" celebration as he wished. Before the signing ceremony, Trump gave a speech to explain again why this bill is "big and beautiful", and praised the efforts of Senate Majority Leader John Thune and House Speaker Mike Johnson. This bill reflects Trump's important governing agenda, mainly including tax cuts, cuts in medical insurance and nutrition subsidy program spending, and increased military and border security spending. Members of the two parties in the US Congress have serious differences of opinion on the bill. In the vote of the House of Representatives on the 3rd, all Democratic members and two Republican members voted against it. The US media believes that the bill will increase the already high fiscal deficit of the United States by about 3.3 trillion US dollars in the next decade, and tens of millions of Americans will lose medical assistance and food subsidies.
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