By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Viral Trending contentViral Trending content
  • Home
  • World News
  • Politics
  • Sports
  • Celebrity
  • Business
  • Crypto
  • Gaming News
  • Tech News
  • Travel
Reading: US Congress gives final approval to Trump’s signature tax bill and sends it to him to sign
Notification Show More
Viral Trending contentViral Trending content
  • Home
  • Categories
    • World News
    • Politics
    • Sports
    • Celebrity
    • Business
    • Crypto
    • Tech News
    • Gaming News
    • Travel
  • Bookmarks
© 2024 All Rights reserved | Powered by Viraltrendingcontent
Viral Trending content > Blog > World News > US Congress gives final approval to Trump’s signature tax bill and sends it to him to sign
World News

US Congress gives final approval to Trump’s signature tax bill and sends it to him to sign

By Viral Trending Content 5 Min Read
Share
SHARE

The US Congress has passed President Donald Trump’s huge tax breaks and spending cuts bill, bringing an end to days of debate and overnight voting in the Capitol.

Contents
Tax breaks and safety net cutsDemocrats united against ‘ugly bill’

House Republicans propelled the $4.5 trillion (€3.8 trillion) One Big Beautiful Bill Act to final congressional passage on Thursday, overcoming multiple setbacks to approve Trump’s signature second-term policy package before a 4 July deadline.

The tight roll call, 218-214, came at a potentially high political cost, with two Republicans joining all Democrats opposed.

GOP leaders worked overnight and the president himself leaned on a handful of sceptics to drop their opposition and send the bill to him to sign into law.

Democratic leader Hakeem Jeffries of New York delayed voting by holding the floor for more than eight hours with a record-breaking speech against the bill.

“We have a big job to finish,” said House Speaker Mike Johnson. “With one big beautiful bill we are going to make this country stronger, safer and more prosperous than ever before.”

The outcome delivers a major win for the president and his party. It was a long-shot effort to compile a lengthy list of GOP priorities into a single 800-page package.

With Democrats unified in opposition, the bill will become a defining measure of Trump’s return to the White House, aided by Republican control of Congress.

Tax breaks and safety net cuts

At its core, the package’s priority is $4.5 trillion (€3.8 trillion) in tax breaks enacted in 2017 during Trump’s first term that would expire if Congress failed to act, along with new ones.

This includes allowing workers to deduct tips and overtime pay, and a $6,000 (€5,105) deduction for most older adults earning less than $75,000 (€63,822) a year.

There’s also a hefty investment, some $350 billion (€297 billion), in national security and Trump’s deportation agenda and to help develop the “Golden Dome” defensive system over the US.

To help offset the lost tax revenue, the package includes $1.2 trillion (€1 trillion) in cutbacks to Medicaid healthcare and food stamps, largely by imposing new work requirements, including for some parents and older people, and a major rollback on green energy tax credits.

The Congressional Budget Office (CBO) estimates the package will add $3.3 trillion (€2.8 trillion) to the deficit over the decade and 11.8 million more people will go without health coverage.

“This was a generational opportunity to deliver the most comprehensive and consequential set of conservative reforms in modern history, and that’s exactly what we’re doing,” said Jodey Arrington, the House Budget Committee chairman.

Democrats united against ‘ugly bill’

Democrats unified against the bill as a tax giveaway to the rich paid for on the backs of the working class and most vulnerable in society, what they called “trickle down cruelty.”

Tensions ran high in the chamber.

Hakeem Jeffries began his speech at 4:53 am and finished at 1:37 pm, a record eight hours and 44 minutes later as he argued against what he called Trump’s “big ugly bill.”

“We’re better than this,” Jeffries said, who used a leader’s prerogative for unlimited debate and read letter after letter from Americans writing about their reliance of the health care programmes.

“I never thought that I’d be on the House floor saying that this is a crime scene,” Jeffries said.

“It’s a crime scene, going after the health, and the safety, and the well-being of the American people.”

And as Democrats, he said, “We want no part of it.”

Hauling the package through Congress has been difficult from the start. Republicans have struggled with the bill nearly every step of the way, quarrelling in the House and Senate, and often succeeding only by the narrowest of margins: just one vote.

The Senate passed the package days earlier with Vice President JD Vance breaking the tie vote.

You Might Also Like

Belarus stages nuclear drills with Russia as Kyiv warns of new offensive

A giant asteroid found just days ago is now passing close to Earth

Spain tilts right under Pedro Sánchez despite progressive credentials abroad

Iran calls for reconstruction support at World Urban Forum in Baku

Watch: Brussels & European capitals—how New Delhi is leveraging a two-tier strategy in Europe

TAGGED: Europe
Share This Article
Facebook Twitter Copy Link
Previous Article Ethereum Progressing Within Expected Range — Here’s What Lies Ahead
Next Article 12 Years After Launch, GTA V Is Finally Arriving In Two More Countries
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

- Advertisement -
Ad image

Latest News

Is the biggest stock market crash since the dot com bubble coming?
Business
6.7 million people thought they were ripping apart an AI-generated Monet painting. But it was real
Business
Price predictions 5/18: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, HYPE, ADA
Crypto
Belarus stages nuclear drills with Russia as Kyiv warns of new offensive
World News
XRP’s Recent Strategic Setup Could Mark The End For Bears – Crypto Analyst Says
Crypto
Anderson Cooper’s Former Partner Benjamin Maisani: Their Relationship & Who the CNN Host Is Dating Now
Celebrity
CD Projekt RED’s Project Sirius Recruits Destiny 2: The Final Shape Narrative Lead
Gaming News

About Us

Welcome to Viraltrendingcontent, your go-to source for the latest updates on world news, politics, sports, celebrity, tech, travel, gaming, crypto news, and business news. We are dedicated to providing you with accurate, timely, and engaging content from around the globe.

Quick Links

  • Home
  • World News
  • Politics
  • Celebrity
  • Business
  • Home
  • World News
  • Politics
  • Sports
  • Celebrity
  • Business
  • Crypto
  • Gaming News
  • Tech News
  • Travel
  • Sports
  • Crypto
  • Tech News
  • Gaming News
  • Travel

Trending News

cageside seats

Unlocking the Ultimate WWE Experience: Cageside Seats News 2024

Is the biggest stock market crash since the dot com bubble coming?

Investing £5 a day could help me build a second income of £329 a month!

cageside seats
Unlocking the Ultimate WWE Experience: Cageside Seats News 2024
May 22, 2024
Is the biggest stock market crash since the dot com bubble coming?
May 18, 2026
Investing £5 a day could help me build a second income of £329 a month!
March 27, 2024
Brussels unveils plans for a European Degree but struggles to explain why
March 27, 2024
© 2024 All Rights reserved | Powered by Vraltrendingcontent
  • About Us
  • Contact US
  • Disclaimer
  • Privacy Policy
  • Terms of Service
Welcome Back!

Sign in to your account

Lost your password?