The US Congress (US Parliament) gave the last approval to President Donald Trump’s 4.5 trillion dollar tax exemption and expenditure deduction bill on Thursday (US time). Before the July 4 deadline, several obstacles could be exceeded to approve the policy package of the second term of Trump’s signature. According to PTI news, this approval was given in the stringent voting of 218-214. In this voting, two Republicans joined all the Democrats. The bill has been sent to Donald Trump for signature.
Now what next
This bill has now been passed by the Congress, its next stop is to officially sign the President’s table and enact a law. The White House says that President Trump will sign it at a ceremony on 17:00 EDT (22:00 BTS) on July 4. White House Press Secretary Caroline Lewit reacted to the passage of the bill with a message of a word on social media. He said with the image of the American flag, “Vijay!”
House speaker knows what
The President himself pressurized some skepticists to give up their opposition and send the bill to them to sign the law. New York Democratic leader Hakim Jeffrees delayed voting by staying in the House for more than eight hours with a record speech against the bill. House Speaker Mike Johnson, R-La said that we have a big job to complete. With the One Big Beautiful Bill, we are going to make this country more strong, safe and prosperous than ever.
What is the provision in the bill
The bill allows workers to cut tip and overtime salary cuts and reduction of US $ 6,000 for most aged adults earning less than US $ 75,000 per year. There is also a huge investment of about 350 billion US dollars to help the National Security and Trump’s exile agenda to help develop a golden dome defense system.
To help in compensating for lost tax revenue, the package includes a 1.2 trillion reduction in medicated healthcare and food tickets, including mainly implementing new work requirements for some parents and older people and large deductions in green energy tax credit. The non-partisan Congress budget office estimates that this package will increase losses by US $ 3.3 trillion throughout the decade.
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