Trump’s ‘big, beautiful’ tax cuts head to signing as Congress clears bill

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US President Donald Trump will sign his tax and expenditure bill on ET (3am PST Saturday) on Friday at 5pm, after a tight win of Congress, promotes a major agenda that threatens corporations and wealthy to millions of people.

The 218-214 votes is an important victory for the Republican president, which will fund his immigration crackdown, make his 2017 tax deductions permanent, and during the 2024 campaign he promised that he had deducted a new tax.

It also reduces health and food safety net programs and eliminates dozens of green energy privileges. According to the Budget Office of the non -Partisine Congress, this will increase the country’s $ 36.2 trillion loans by $ 4 trillion.

Despite concerns over the 869 -page bill price tag and its impact on its health care programs at Trump’s party, finally, only two of the 220 Republicans in the House voted against it after standing overnight. The bill has already cleared the Republican -controlled Senate with the tight possible margin.

The White House said that Trump will sign the law on Friday, July 4, at 5pm on ET (2100 GMT) on Friday, July 4.

The Republican said the legislation would reduce the income spectrum taxes for Americans and promote economic growth.

House Speaker Mike Johnson said, “This is a jet fuel for the economy, and all the boats are growing.”

Every Democrat of Congress voted against it, and the bill was considered a cheap for the rich, leaving millions of people insurance.

House Democratic leader Hakim Jefferiz said in an eight -hour, 46 -minute speech, “The focus of this bill is to justify all the deductions that hurt Americans every day, to provide massive tax breaks for billion leaves.”

Trump maintained pressure, leaving and threatening legislators when he pressed them to end work.

“The Republican’s this, it should be easy to vote in yes. Funny !!!” He wrote on social media.

Although about a dozen House of Republicans threatened to vote against the bill, only two managed to do so: a centralist, Brian Fitz Patterk of Pennsylvania and Thomas Messi of Kentucky, a conservative, who said he did not spend enough.

Marathon Week &

The Republicans ran to meet the last date of July 4, worked last week and held overnight debates in the House and the Senate. The bill approved the Senate in a 51-50 vote on Tuesday, seeing that Vice President JD Venus voted tie-breaking votes.

According to the CBO, the bill will reduce the tax revenue by $ 4.5 trillion in 10 years and will reduce costs 1.1 trillion.

The reduction in costs is largely from Medicide, a health program that covers 71 million low -income Americans. According to the CBO, the bill will strengthen the need for work on the funding mechanism used by the states to increase federal payments, strengthening the need for work.

Republicans have added Billion 50 billion to raise rural health providers to address these concerns that they will force them to oust them from the business.

Non -Partisian analysts have found that the most wealthy Americans will see the biggest benefits from the bill, while low -income people will see their income effectively because safety deductions will be far greater than their tax deductions.

Analysts say the burden of loans produced by the bill will also effectively transfer money to generations of age. The rating firm Moody reduced US debt in May, citing rising debt, and some foreign investors say the bill is making US treasury bonds less attractive.

The bill has increased the roof of the US debt by $ 5 trillion, eliminating the possibility of default in the short term. But some investors are concerned that the loan can reduce the maximum debt -makers to reduce economic stimulation and pose a long -term risk of borrowing costs.

On the other hand, the bill eliminated tax hikes that were meant to target most Americans later this year, when Trump’s individual and business tax deduction was about to end. These deductions are now permanent, while tax intervals are extended for parents and businesses.

The bill also determines new tax intervals for the income, overtime salary, seniors and auto loans, fulfilling the Trump campaign’s promises.

The final version of this bill includes more tax deductions and more health care deductions than the initial version of the home passing home in May.

During the Senate discussion, the Republican also dropped a clause that would ban artificial intelligence regulations, and foreign investment was banned from “revenge tax”, which promoted the alarm bell on Wall Street.

It is likely that the bill can be significantly presented in the mid -term elections of 2026, when the Democrats hope to re -occupy at least one Chamber of Congress. Republican leaders say the economy will laugh at the tax period before this, and many of its benefits will not be selected after this election. The polls show that many Americans are worried about the cost of the bill and its influence on its low -income people.