President Trump calls budget bill 'great gift' to America
The controversial super bill has been passed by the House of Representatives and President Trump described it as a "great gift" to America.
According to RIA Novosti on July 4, President Donald Trump said that the spending and tax bill passed by the US Congress is the "best gift" for America's birthday.
Earlier on July 3, the US House of Representatives followed the Senate in passing the spending and tax bill, which President Trump is expected to sign into law on Independence Day (Friday, July 4), Washington time.
"There could be no greater birthday present for America than the incredible victory we had just hours ago, when Congress passed this great bill to make America great again," President Trump said at a rally in Iowa.
The bill proposes to raise the US debt ceiling by $5 trillion, cut some social programs and increase military spending, while proposing to maintain the tax cuts that have been in place since Mr. Trump's first term.
The Congressional Budget Office estimates that this could add $3.3 trillion to the national debt over a decade and leave about 12 million Americans without health insurance.
Dubbed the “One Big Beautiful Bill Act,” the 960-page bill would permanently extend the personal and corporate tax cuts enacted by Mr. Trump in 2017, while adding new tax incentives for overtime workers, tipped workers and seniors.
The bill also provides tens of billions of dollars for border tightening and deportation programs, while repealing most green energy incentives under former President Joe Biden.
