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The U.S. Congress has given its final approval to President Donald Trump's $4.5 trillion tax relief and spending cut bill. After a contentious vote, the bill now heads to President Trump's desk for signing into law. This major legislative package, which is part of President Trump's second-term policy agenda, overcame several hurdles before receiving the green light. The bill was approved by a tight margin of 218-214 votes, with two Republicans joining all Democrats in opposing the bill. The approval marks a significant victory for President Trump, who has been pushing for tax cuts and spending reductions to stimulate economic growth and address national security concerns. The bill, which had a deadline of July 4th, includes a range of provisions aimed at boosting the economy, cutting government spending, and investing in national defense. The Bill's Passage: A Tough Battle in Congress The vote on the bill was a tough one, with intense debates and delays in the House. Democratic leader Hakeem Jeffries from New York delivered a record-breaking speech against the bill, holding the floor for more than eight hours, effectively delaying the voting process. Jeffries’ passionate opposition to the bill added significant drama to the proceedings, but despite his efforts, the final vote passed with a slim majority. House Speaker Mike Johnson, a Republican from Louisiana, praised the passage of the bill, calling it an important step toward strengthening the country. He said, “We have a big job to do, and with this one big beautiful bill, we are going to make this country stronger, safer, and more prosperous than ever before.” This bill, which has been a priority for the Trump administration, now moves to the next phase: the president’s signature. The White House has announced that President Trump will sign the bill into law at a ceremony scheduled for 5:00 PM EDT (10:00 PM BTS) on July 4th. Key Provisions of the Bill The $4.5 trillion tax relief and spending cut bill includes several key provisions aimed at reshaping the U.S. economy. Some of the main highlights of the bill include: Tax Cuts for Workers and Senior Citizens: The bill allows for cuts in tip and overtime wages for workers. It also introduces a $6,000 tax deduction for elderly individuals earning less than $75,000 annually, aimed at providing financial relief to this demographic. National Security and Defense Investments: In line with Trump's national security agenda, the bill includes a significant investment of $350 billion for the development of the Golden Dome Defense System, a key element in strengthening U.S. defense capabilities. Medicaid and Food Stamp Cuts: The package includes cuts of $1.2 trillion in Medicaid healthcare and food stamps, primarily targeting new work requirements for certain groups, including parents and seniors. This provision is part of Trump’s broader effort to reduce government spending on welfare programs. Green Energy Tax Credit Cuts: The bill also includes substantial cuts to the green energy tax credits, reflecting Trump's push to reduce the U.S. government’s financial commitment to renewable energy projects. Deficit Increase: According to the Congressional Budget Office (CBO), this package is expected to increase the budget deficit by $3.3 trillion over the next decade, due to the loss of tax revenue and reductions in government spending. The bill has been met with mixed reactions. While Republicans praise the tax cuts and defense investments, Democrats and some Republicans have raised concerns about the long-term impact on the U.S. deficit and the cuts to social programs like Medicaid. Next Steps: Trump's Signature and the Road Ahead Now that the bill has passed both the House and the Senate, the final step is for President Trump to sign it into law. The White House has confirmed that the signing ceremony will take place on July 4th, coinciding with the U.S. Independence Day celebrations. This timing is symbolic, as the bill represents a key part of President Trump's agenda to reform the country’s economic policies and reduce the federal government’s spending. Trump has been under pressure from certain members of his party to ensure that the bill is passed quickly, despite the opposition from some Republican lawmakers. The signing of this bill will be a major achievement for the Trump administration, marking the completion of a major policy promise made during his second-term campaign. Reactions from Democrats and Opposition While the bill has passed, it has not been without controversy. Democrats, led by Hakeem Jeffries, have strongly opposed the bill, arguing that it disproportionately benefits the wealthy and cuts crucial social services. Jeffries’ marathon speech in the House was a reflection of the deep divide between the two parties over the bill’s provisions. Several key Democrat leaders have criticized the bill’s impact on the most vulnerable Americans, particularly seniors and low-income families who rely on Medicaid and food assistance programs. These cuts, they argue, will exacerbate poverty and inequality in the country. Trump’s Economic Agenda: A Second-Term Focus The passage of this $4.5 trillion tax relief and spending cut bill is a central part of President Trump's economic agenda for his second term. With a focus on reducing government spending, cutting taxes, and boosting national defense, Trump is aiming to reshape the U.S. economy by focusing on growth, job creation, and military strength. The bill aligns with Trump’s long-standing priorities of reducing taxes, curbing government spending, and increasing military spending. These goals have been central to his administration’s policies, and the passage of this bill is a significant step toward achieving them. As President Trump prepares to sign the bill into law, the real impact of the bill will be felt in the coming years. While the bill is expected to provide immediate relief to workers and seniors, the long-term consequences on the deficit and social programs remain to be seen. This bill sets the stage for future debates over U.S. fiscal policy, with calls for further tax cuts and spending reductions in the coming years. The U.S. government will need to carefully balance the benefits of tax cuts with the challenges of reducing the deficit and ensuring that essential services are not negatively impacted.

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Trump’s $4.5 Trillion Tax Relief and Spending Cut Bill Approved by US Congress

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