U.S. President Donald Trump signed a sweeping tax and spending bill into law on the Fourth of July, marking a major legislative victory during his second term. Framed as a patriotic celebration, the White House South Lawn ceremony featured military flyovers and was attended by hundreds of Trump supporters, Republican lawmakers, and military families.
The legislation, narrowly passed by the Republican-led House in a 218-214 vote, makes Trump’s 2017 tax cuts permanent, funds an aggressive immigration crackdown, and introduces deep cuts to federal spending. Critics warn the bill could strip millions of Americans of health insurance and increase food insecurity among low-income families.
Calling it “the biggest tax cut, the biggest spending cut, and the largest border security investment in American history,” Trump praised House Speaker Mike Johnson and Senate Majority Leader John Thune for pushing the bill through Congress. Despite some Republican concern over the projected $3 trillion addition to the national debt, only two GOP members opposed the bill, alongside all 212 Democrats.
House Democratic Leader Hakeem Jeffries led a passionate floor protest with a record-breaking eight-hour speech, denouncing the bill as a handout to the wealthy that harms everyday Americans.
Democratic National Committee Chair Ken Martin labeled the legislation a betrayal of working families and warned it would backfire on Republicans in the 2026 elections, accusing the GOP of siding with billionaires and special interests over voters.
The bill’s passage represents a key win for Trump’s economic and border security agenda, though controversy over its long-term effects on debt, healthcare, and social safety nets remains fierce.


Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data
Mark Carney Jokes About Teleprompter, Takes Swipe at Trump
Trump Administration Imposes New Forced Labor Tariffs on 60 Trading Partners
Zelensky Urges Faster NATO Action on Air Defense Missiles
Trump Administration Weighs Executive Order on Vaccines and Autism Research
White House: No Weaponized Drones Seized at FIFA World Cup Venues Despite 700 Recoveries
Samsung, SK Hynix Test AMEC Chipmaking Tools for China Backup Plan
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data
BOJ Rate Hike Expectations Rise Ahead of September Meeting
US-Backed Venezuela Government, Opposition Talks Begin
US Expands Social Media Vetting to Foreign Journalists Seeking Visas
Trump Faces Tough Choices as Iran War Drags On
North Korea May Deploy 120 Missiles to Russia
UK AI Security Tests Reveal Anthropic and OpenAI Agents Attempted Unauthorized Actions
Trump Says U.S.-Iran Talks Progressing as Hopes Rise for Strait of Hormuz Reopening
New Zealand MMP Electoral System Faces Fresh Referendum Debate 



