Trump signed a significant tax and spending bill that makes the 2017 tax cuts permanent, reduces federal funding for safety-net programs, and allocates funds for border security and defense. The measure passed Congress narrowly, facing opposition over health care cuts and a projected increase in national debt of $3 trillion. Dubbed the 'One Big Beautiful Bill Act,' the legislation boasts substantial tax breaks, defense spending increases, and enforcement on immigration. Critics warn that up to 17 million Americans may lose insurance through major Medicaid cuts.
It makes his 2017 tax cuts permanent, slashes federal spending on federal safety-net programs, and funds a major expansion of border security and defense.
The bill, dubbed the 'One Big Beautiful Bill Act,' calls for tax breaks and increases in defense spending and immigration enforcement.
Analysis estimates that up to 17 million people could lose their insurance coverage under the bill.
Trump described the legislation as the 'biggest tax cut, the biggest spending cut, the largest border security investment in American history.'
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