In a significant legislative victory for President Donald Trump, the $3.3 trillion “Big Beautiful Bill” has been signed into law after passing the House of Representatives with a narrow margin. The bill, which Trump hailed as a major economic boost, includes key provisions such as permanent individual and business tax breaks, new tax deductions for tips and overtime pay, and increased funding for defense and border security.
Key Provisions:
– Tax Cuts: Permanent extension of Trump’s 2017 Tax Cuts and Jobs Act, increasing standard deductions by $1,000 for individuals and $2,000 for married couples.
– Border Security: Allocation of approximately $350 billion for defense and Trump’s mass deportation initiative.
– Medicaid Reforms: New 80-hour-a-month work requirements for Medicaid recipients and expanded work requirements for SNAP beneficiaries.
– Green Energy: Rescission of certain Biden-era green energy tax credits, with Trump criticizing wind energy as “weak” and “expensive”.
The bill’s passage was marked by controversy, with Democrats labeling it “cruel” and “dangerous” due to its potential impact on low-income Americans. House Minority Leader Hakeem Jeffries delivered an 8-hour-and-46-minute speech opposing the bill, highlighting concerns over Medicaid and SNAP reforms ¹ ².
Reactions:
– Trump: “We’ve delivered no tax on tips, no tax on overtime, and no tax on Social Security for our great seniors… The Golden Age of America is upon us.”
– Vice President JD Vance: “The Big Beautiful Bill gives the president the resources and the power to undo the Biden border invasion.”
– House Minority Leader Hakeem Jeffries: “What is contemplated in this one big, ugly bill is wrong. It’s dangerous, and it’s cruel.”
