Newou can listen to Fox News articles!
President Donald Trump signed a $3.3 trillion “big, beautiful bill” on Friday, after guaranteed the House would arrive at the president’s desk on Thursday with a July 4th deadline.
The bill includes key provisions that permanently establish personal and business tax credits included in Trump’s 2017 Tax Cuts and Employment Act, with new tax credits to reduce overtime pay duties.
Before signing the bill, the president said it would “promote massive economic growth” and “lift the hardworking citizens who run the country.”
“We’ve officially made Trump’s tax cuts permanent,” Trump said. “It’s the biggest tax cut in our country’s history. …After this begins, our country will become economically rocket ships. We have hints, no tax on overtime, no tax on social security for great seniors.
The measure also raises debt limits by $5 trillion. This is a provision that faces scrutiny from figures, including SpaceX and Tesla CEO Elon Musk, which previously led the war against wasted government spending with government efficiency.
Additionally, the bill would withdraw certain Biden-era Green Energy Tax Credits and allocate around $350 billion to defense and Trump’s massive deportation initiatives to eliminate illegal immigration from the United States.
“The wind. It’s not going well,” Trump said. “Aside from ruining our fields and valleys and killing all the birds, I say to you, [and] Very weak and very expensive [they are] All made in China. You know, I noticed something… with all the windmills that China sends us… I have never seen a wind farm in China. ”
As the GOP finalizes its strategy, it is poised to clinch Trump’s groundbreaking bill victory
President Donald Trump will sign an executive order on Thursday, January 30th, 2025 at the White House Oval Office in Washington, DC, USA (Bonnie Cash/UPI/Bloomberg by Getty Images)
The measure will also enact Medicaid reforms, including new 80-hour work requirements for Medicaid recipients, expanding work requirements for people in the Supplementary Nutrition Assistance Program or SNAP.
Senate Republicans were sent to scramble on June 26th to reform and pass the measure ahead of Trump’s July 4 deadline after Sen. Elizabeth McDonough decided that some Medicaid reforms in the cleaning tax and domestic policy package were not following Senate rules.
Ultimately, the Senate barely passed the measure Tuesday with a margin of 51-50. Maine Republican Sen. Susan Collins, North Carolina’s Tom Tillis and Kentucky’s Rand Paul all voted against the bill, demanding Vice President J.D. Vance to hold a tiebreaker vote.
Tax cuts, labor requirements, asylum fees: Here’s what you’ll find in the Senate version of Trump bill
Sen. Tom Tillis, RN.C. questions Federal Reserve Chair Jerome Powell in an audience of the Senate Bank, Housing and Urban Affairs Committee titled “Semi-annual Monetary Policy Report” at the Darksen Building on Wednesday, June 25th, 2025.
The law then returned home to cast out some differences in the versions handed over in both rooms in Congress.
On Wednesday evening before the House aisle, Vance spoke up to measure lawmakers’ heat at the finish line, citing provisions for measures to strengthen border security.
“The big beautiful bill gives the president the resources and strength to rescind the Biden border aggression,” Vance said in X’s Wednesday post. “It has to pass.”
“Congratulations to everyone. I doubt I’ll even get it done by July 4th! But now I’ve given you the resources you need to secure massive tax cuts and borders.
Trump also focused on the border provisions of the measure, labeling the bill as “the most important border law ever to cross the floor of Congress,” when urging lawmakers to complete the legislation at the “one big beautiful event” held at the White House on June 26th.
“This is the ultimate codification of our agenda. Very simply, it has been used very often by me over the past decade, and perhaps even before that, it makes America great again,” Trump said at the event.
Other administrative authorities also warned that failure to pass the bill would wreak havoc for the economy. For example, White House management and budget director Russell Vought told lawmakers in June that the measure had not been passed and that tax hikes for Americans would increase by 60%, causing a recession.
Senate passes Trump’s “big, beautiful bill” after voting for the marathon
House Minority Leader Hakeem Jeffries, DN.Y. will speak at a press conference at Capitol, Washington on Thursday, March 6, 2025 (AP Photo/J. Scott Applewhite)
Meanwhile, no Democrats in either Congress supported the measure. House minority leader Hakeem Jeffries, DN.Y., labeled the bill as “cruel” in a floor statement that lasted several hours on Thursday, referring to reforms in Medicaid and SNAP, and reports that it would remove millions of beneficiaries from the program.
Click here to get the Fox News app
“What is considered in this big, ugly bill is wrong. It is dangerous, it is cruel, and cruelty should not be the result of the purpose or consequence of the law that we consider here in the U.S. House of Representatives,” Jeffries said.
Fox News Liz Elkind contributed to this report.
Diana Stancy is a political reporter for Fox News Digital, covering the White House.
Source link
