Fri Jul 04 22:53:07 UTC 2025: Okay, here’s a news article summarizing the provided text:
**Trump Signs Sweeping Tax and Spending Bill Amid Controversy**
**Washington, D.C.** – President Donald Trump has signed into law a major tax and spending bill, fulfilling a key promise of his policy agenda. The legislation, dubbed the “One Big Beautiful Bill” by Trump, has sparked fierce debate and division across the political spectrum.
The bill extends tax cuts enacted during Trump’s first term, amounting to $4.5 trillion in tax reductions, while increasing immigration funding, also includes significant cuts to social welfare programs like Medicaid and SNAP, raising concerns about its impact on vulnerable populations.
The bill is projected to add $3.3 trillion to the national debt, a move that has drawn criticism even from some fiscal conservatives.
Trump celebrated the signing with a White House ceremony, touting it as a “triumph of democracy.” He asserted the bill would boost the economy and benefit all Americans. “After this kicks in, our country is going to be a rocket ship, economically” Trump told a crowd on the White House balcony, flanked by Republican congressional leaders.
However, Democrats have vehemently condemned the bill, arguing it betrays American citizens by prioritizing tax cuts for the wealthy over investments in healthcare and social safety nets. Senate Majority Leader Chuck Schumer labeled it “betrayal” on social media.
The bill’s passage underscores Trump’s strong influence within the Republican Party, with only a handful of Republicans breaking ranks to oppose it. The legislation also reverses green energy and electric vehicle incentives, reflecting Trump’s focus on fossil fuels.
Opponents warn that the increased national debt could hinder economic growth, raise borrowing costs, and limit future government spending. House Minority Leader Hakeem Jeffries delivered an eight-hour speech on the House floor in a symbolic attempt to block the bill.
Analysts predict that millions of Americans will lose healthcare coverage and face reduced access to food assistance as a result of the bill’s provisions. The American Immigration Council says the bill constitutes the “largest investment in detention and deportation in US history”.
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