Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
NEW YORK, July 5 (Xinhua) — U.S. President Donald Trump signed the historic tax and spending bill, also known as the “one, big, beautiful bill,” on Friday afternoon.
The bill was signed at the White House the day after it passed the House. Trump set a July 4 deadline to pass the bill in order to make the signing part of the Independence Day festivities, which also included a B-2 bomber flyby.
The law reflects Trump’s policy of cutting taxes and increasing spending on military needs and border security.
Speaking before the signing ceremony, Trump thanked Senate Majority Leader John Thune and House Speaker Mike Johnson for their work in holding a conference to pass the bill. “These two are a team like no other,” he said.
House members are divided on the bill, which would slash spending on health care and food programs for the poor and increase spending on the military and border security while cutting taxes on a broad range of incomes. The bill is projected to add $3.3 trillion to the already large national debt.
The bill passed the House by a narrow margin of 218 to 214, with all Democrats and two Republicans, Thomas Massie of Kentucky and Brian Fitzpatrick of Pennsylvania, voting against it.
After the House passed the bill, White House press secretary Caroline Leavitt called it “the embodiment of everything the president fought for and the American people voted for,” noting that it was “a triumphant day for the American people.”
The White House, in a press release Thursday, called the bill’s passage the president’s biggest legislative victory, adding that “time and time again, President Trump and Republicans have fought and won for the American people.” -0-