Trump signs big tax cut and spending bill into law in July Fourth ceremony

Washington – President Donald Trump signed his tax reduction and his tax expenditure pack on Friday, which he called the “big and beautiful bill”, during a July 4 -packed ceremony with a patriotic pump and symbolism.

The White House ceremony, which took place alongside a military picnic, included an overview of the armed forces and attended by jubilant republican legislators, including the president of the Mike Johnson Chamber and the head of majority Steve scalizes, both of Louisiana, who helped to build the legislation through their room on Thursday by a margin of razor.

“Our country has had so much to celebrate this day of independence when we enter our 249th year. America win, winning, winning like never before,” said Trump before signing the bill.

“We have officially rendered the permanent Trump tax reductions. It is the greatest tax reduction in the history of our country,” he continued. “We establish all kinds of economic files at the moment, and it is before it comes into play. After that, our country will be a rocket, economically.”

The Senate adopted the bill on Tuesday during a vote of 51-50, with the vice-president JD Vance necessary to break equality. This sent the bill to the House, which adopted it during a mainly online vote of 218-214 Thursday, just a day before the arbitrary deadline of Trump’s July.

As a group playing the national anthem, a spiritual bomber B-2, accompanied by two F-35 jets, flew over the White House in honor of the American strike on nuclear installations in Iran last month. The pilots who participated in these strikes, Operation Midnight Hammer, were invited to the event by Trump.

Trump, First Lady Melania Trump and their guests were to monitor the annual celebration of fireworks of independence day during the National Mall on Friday evening. The president visited his Virginia club earlier during the day.

The signing bill capped an exhausting process of several months, during which the Chamber and the Senate publicly competed for whether the GOP should try to pass the priorities of Trump’s domestic policy in a bill or divide them in half. Moderate and conservative republicans have also fought on the amount they should reduce federal safety net programs – Medicaid and food aid (additional nutritional aid program or SNAP) – as well as the amount of increase in the deduction ceiling on state and local taxes, or salt.

The gigantic package fills in many Trump 2024 campaign promises. It extends the expired tax reductions which he promulgated during his first mandate, in 2017, while temporarily reducing taxes on tips and overtime and the authorization of deductions on car loan interest payments. It also includes hundreds of billions of dollars new expenses for the army and to make mass expulsion plans of Trump.

The legislation pays in part for this with steep cups in Medicaid, snap and clean energy financing.

And despite conservative calls to combat debt and hot air balloon deficit, the Trump law is expected to increase the national debt by $ 3.3 billions of dollars over the next decade, according to the non -partisan congress budget office. The CBO also estimated that 11.8 million people could lose health insurance coverage due to the cuts and other provisions of the legislation.

A recent surveys show that Trump’s great bill is deeply unpopular. A recent survey of Quinnipiac University revealed that 53% of registered voters oppose the bill, while only 27% support it. And the Democrats, eager to reconquer the control of the Chamber and perhaps the Senate in 2026, salivate the opportunity to make the Trump bill a central question of campaign in mid-term elections.

“Not a single thing in Donald Trump’s big bill, will significantly make life more affordable for everyday Americans, and this is only one of the many reasons why the Democrats of the Chamber are not on this legislation,” said the minority of the Hakeem Jeffries minority on Thursday, Dn.y.

“We were a hell no last week, hell no this week, hell no yesterday, a hell no today,” he told the noisy cheers of the Democrats. “And will continue to be a hell not on this effort to hurt the American people.”

One day after adopting the bill, the Republicans have already started talking about changes to the law. While he presented tax reductions and spending discounts in the package, Vance opened the door to the modification of certain policies.

Trump “reforms, he sees how it goes, and he is always ready to have a conversation in order to make things even better,” said the vice-president, who played a key role in the negotiations of the Chamber and the Senate this week, to journalists in the Dakota of the North.