Trump enacts tax legislation
On the historic day of Independence Day, July 4th, US President Donald Trump marked a significant milestone in his presidency by signing the "One Big Beautiful Bill" into law. The bill, which has been a long-awaited piece of legislation, includes several key provisions and controversies.
The bill, touted as the largest tax cut in US history, is expected to benefit families and businesses. However, it also institutes work requirements for Medicaid recipients, a move that critics argue could lead to millions of Americans losing health insurance. The bill also includes cuts that may result in the closure of health centers in rural areas.
Democrats and health care experts have criticized the bill for its cuts to Medicaid and other services that help the poorest Americans. They argue that these changes could be harmful to vulnerable populations. The bill's passage was marked by significant political divisions, with Democrats strongly opposing its provisions.
In addition to the tax cuts, the bill provides for increased spending on US defense and border security, while other areas face significant cuts. This aligns with Trump's campaign promises and is presumed to have a positive impact on military and defense.
The bill's signing ceremony was held at the White House, with security measures in place, including many barriers and police cars in side streets. The ceremony included an air show, honouring the pilots of the recent US strike "Operation Inherent Resolve" on Iranian nuclear facilities. A stealth bomber of the B-2 type was among the aircraft seen in the skies during the air show.
Trump spoke to invited guests about the successes of his presidency during the ceremony. He said, "The world respects us again." The bill's passage represents a significant legislative victory for Trump, but it has been met with substantial criticism from Democratic lawmakers and health care advocates.
The "One Big Beautiful Bill" also includes the permanent extension of tax cuts from Trump's first term. New tax cuts, such as the elimination of a tax on tips and overtime up to a certain amount, are planned under the bill.
Independence Day, one of the most important non-religious national holidays in the United States, was celebrated with decorations in the colors of the US flag and fireworks. The day also marks the anniversary of the British colonies declaring their independence from Britain, paving the way for the founding of the United States.
The "One Big Beautiful Bill," signed into law by President Donald Trump, includes not only tax cuts benefiting families and businesses, but also controversial policies such as work requirements for Medicaid recipients and cuts to services that aid the vulnerable, leading to debates in politics and general news. The bill's defense and border security spending increases align with Trump's campaign promises, while other areas face significant cuts, sparking criticisms from Democrats and health care experts.
