04-07-2025

US Congress passes Trump's tax and spending bill

Date: 04-07-2025
Sources: bbc.com: 1 | edition.cnn.com: 2
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Source: edition.cnn.com

Image content: The image is of former President Donald Trump, wearing a navy blue suit and red tie, with a white baseball cap that has "USA" written on it. The image includes white text overlaid on it, stating "CORPORATIONS ARE THE BIG WINNERS OF TRUMP'S MEGABILL." The overall message appears to be commentary on the impact of Trump's policies on corporations.

Summary

The US Congress has passed Donald Trump's domestic policy bill, a significant victory for the president, despite criticism from Democrats and concerns over its impact on federal deficits and healthcare coverage. The bill is expected to be signed into law on July 4 and includes tax cuts and spending cuts, with corporations emerging as major beneficiaries.

Key Points

  • Congress passed Trump's tax and spending bill with near-total Republican support
  • The bill is expected to add $3.3tn to federal deficits over 10 years
  • Corporations are major winners, while Democrats criticize the bill for taking healthcare and food subsidies away from millions

Articles in this Cluster

Major win for Trump as Congress passes 'big, beautiful bill'British Broadcasting CorporationBritish Broadcasting Corporation

The US Congress has passed Donald Trump's tax and spending bill, a significant victory for the president and his domestic agenda. The House of Representatives passed the bill by a vote of 218 to 214, after it was approved in the Senate on Tuesday by one vote. The bill is expected to be signed into law by Trump on the 4 July national holiday. The Congressional Budget Office estimates the bill could add $3.3tn to federal deficits over the next 10 years and leave millions without health coverage. The bill makes savings through cuts to food benefits and health care, and delivers on two of Trump's major campaign promises: making his 2017 tax cuts permanent and lifting taxes on tips, overtime, and Social Security recipients. Democrats criticized the bill, portraying it as taking health care and food subsidies away from millions of Americans while giving tax cuts to the rich.

Corporations are the big winners of Trump’s megabill | CNN Politics

Congress passed President Donald Trump's sweeping domestic policy bill, with corporations emerging as the big winners. The bill is a massive package of tax and federal spending cuts that was cleared for Trump's signature after a fierce arm-twisting campaign by GOP leaders to unite the party behind his agenda.

GOP lawmakers react to passing of Trump’s sweeping domestic policy bill | CNN PoliticsClose icon

The US House of Representatives narrowly approved President Donald Trump's domestic policy bill in a 218-214 vote, with only two GOP representatives voting against it. The bill, described as Trump's "big, beautiful bill" and "megabill," passed with near-total Republican support.