Trump signs bill he calls 'a big, beautiful bill'
U.S. President Donald Trump signed into law the massive budget and tax bill he has been working on for weeks, which he described as a "big, beautiful bill," during a ceremony held on the South Lawn of the White House on Friday afternoon. The signing ceremony, timed to coincide with the July 4th Independence Day, was held to celebrate both American independence and what is being touted as the biggest legislative victory of Trump's second term. The event featured low-altitude flyovers by bombers and a fireworks display on the National Mall.
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In his speech at the signing ceremony, Trump described the bill as the "greatest piece of legislation of its kind in history." The President stated, "Whether you are a soldier or any other American, this is the most popular bill ever signed."
The law, which extends the tax cuts Trump enacted during his first term in 2017, introduces a total of 4.5 trillion dollars in new cuts. The bill also provides significant funding for immigration enforcement and defense spending.
MAJOR CUTS TO SOCIAL WELFARE
To offset the new spending and loss of revenue, 1 trillion dollars will be cut from the Medicaid program. Additionally, food assistance programs will be severely restricted. The non-partisan Congressional Budget Office (CBO) projects that these measures will increase the federal budget deficit by 3.3 trillion dollars. According to analyses, approximately 12 million Americans could lose their health insurance.
REPUBLICANS UNEASY, DEMOCRATS FURIOUS
Some Republicans have expressed concern that the cuts to social safety net programs could leave them vulnerable ahead of the 2026 midterm elections. Democrats, meanwhile, describe the bill as a "tax giveaway to the rich and a blow to the poor."
While Democrats argue that Trump is targeting the poor to reward his wealthy supporters, the Trump camp highlights the elimination of taxes on tips and the funds allocated for immigration enforcement as the "people-friendly" aspects of the bill.
"HAS ANYONE EVER HAD A BETTER TWO WEEKS?"
Military families and members of Congress were invited to the signing ceremony at the White House. At the end of the ceremony, Speaker of the House Mike Johnson presented Trump with the gavel used to close the vote in the House of Representatives. Trump struck the gavel and asked, "Are we ready?" before adding, "This must be the best two weeks. Has anyone ever had a better two weeks?"