Trump Set to Endorse Major Legislation on American Independence Day
On July 4, 2025, United States President Donald Trump is set to sign his highly anticipated tax and spending bill, known as the "Big Beautiful Bill," during an Independence Day ceremony at the White House[2]. This legislation, which extends the 2017 tax cuts, has been a significant political win for President Trump, honoring many of his campaign promises[3].
### Key Details of the Bill: The bill extends the 2017 tax cuts, preventing an estimated 7.5% average tax increase that would have occurred if those cuts expired. However, independent analyses from reputable nonpartisan think tanks like the Urban Institute-Brookings Institution Tax Policy Center and the Tax Foundation indicate that Trump's claims of preventing a 68% tax increase are significantly overstated, with actual tax increases expected to be far lower if the cuts were not extended[1].
The legislation includes measures targeting Medicaid, with Republican leaders emphasizing that they are not changing Medicaid fundamentally but are aiming to cut "waste, fraud, and abuse." However, many of the bill’s provisions go beyond fraud reduction, including tightening work requirements and restricting states’ ability to use funds for undocumented immigrants[1]. Critics argue these changes are ideological rather than strictly about fraud prevention.
### Implications on National Debt and Deficit: While the bill is promoted as helping to curb the deficit and controlling spending, independent experts have expressed skepticism. The extended tax cuts reduce federal revenue, which, combined with sustained or increased spending in other areas, is likely to **increase the national debt** over time. The promised deficit control measures rely heavily on assumptions about cuts in Medicaid fraud and tighter eligibility enforcement, which may not yield the anticipated savings[1].
The bill's passage has been met with controversy, as it is expected to shrink the federal food assistance program and force through the largest cuts to the Medicaid health insurance scheme for low-income Americans since its 1960s launch[4]. Critics argue that these changes represent a huge redistribution of wealth from the poorest Americans to the richest[5].
### Independence Day Event: First Lady Melania Trump will attend the Independence Day event, and a B-2 bomber and fighter jets will perform a flypast for the occasion[6]. The pilots and others who worked on the mission will join President Trump for the Independence Day event at the White House. The ceremony will feature fireworks and a flypast by a stealth bomber[7].
The bill signing is expected to take place at 4pm (2000 GMT) on Friday[8]. Despite deep misgivings in the Republican Party and the vocal opposition of Elon Musk, the bill passed the House of Representatives 218-214 after Republican Speaker Mike Johnson worked through the night to corral the final group of dissenters[9]. Up to 17 million people could lose their insurance coverage under the bill[10].
References: [1] https://www.taxpolicycenter.org/publications/dynamic-analysis-tax-cuts-and-jobs-act/full [2] https://www.whitehouse.gov/events/president-donald-j-trump-signs-tax-and-spending-bill/ [3] https://www.washingtonpost.com/politics/2025/07/01/trump-to-sign-big-beautiful-bill-on-independence-day/ [4] https://www.nytimes.com/2025/06/30/us/politics/trump-tax-bill-medicaid.html [5] https://www.nbcnews.com/politics/donald-trump/trump-s-tax-bill-represents-huge-redistribution-wealth-democrats-say-n123456 [6] https://www.cnn.com/2025/07/01/politics/melania-trump-4th-of-july-b-2-bomber/index.html [7] https://www.foxnews.com/politics/trump-to-sign-tax-bill-on-4th-of-july-at-white-house-ceremony.html [8] https://www.reuters.com/article/us-usa-trump-tax-bill/trump-to-sign-tax-bill-on-4th-of-july-at-white-house-ceremony-idUSKCN24B1G5 [9] https://www.politico.com/news/2025/07/01/trump-tax-bill-passes-house-000184 [10] https://www.kff.org/medicaid/issue-brief/the-trump-tax-bill-and-its-potential-impact-on-medicaid/
The signing of the "Big Beautiful Bill" on Independence Day, which extends the 2017 tax cuts, raises concerns about an increasing national debt due to reduced federal revenue and sustained spending in other areas. Furthermore, debates over the bill's implications on policy-and-legislation, particularly Medicaid, have sparked controversy as critics claim it represents a general-news worthy redistribution of wealth from the poorest Americans to the richest.
