President Donald Trump signed the landmark 'One Big Beautiful Bill' into law on Friday, setting the stage for a July 4 celebration with a B-2 bomber flyover and a high-stakes policy showcase.
Fast-Track to Independence Day
Just a day after narrowly passing the House by a 218 to 214 vote, the bill survived deep partisan divides. President Trump credited Senate Majority Leader John Thune and House Speaker Mike Johnson for keeping the conference united to meet his self-imposed deadline before Independence Day.
Key Provisions at a Glance
- Tax Cuts: A $4 trillion reduction over 10 years, with new overtime and tip exemptions and inflation-adjusted estate and gift tax thresholds.
- Social Program Cuts: Nearly $1 trillion slashed from Medicaid and $230 billion trimmed from SNAP by raising the minimum eligibility age from 54 to 64.
- Defense & Border Security: Billions in boosted military budgets, expanded border funding and a $5 trillion increase to the federal debt ceiling.
Numbers that Matter
The Congressional Budget Office warns the law could add $3.4 trillion to the deficit over a decade, while up to 17 million Americans may lose health coverage and rural hospitals face closures. A recent Pew poll shows 49% of Americans oppose the bill and only 29% support it.
Looking Ahead
As Democrats eye the 2026 midterms, public backlash over wealth redistribution could reshape the House. Two Republicans in Nebraska and North Carolina have already announced retirements after clashing with the president.
For young global citizens, entrepreneurs, changemakers and travelers, this landmark law signals bold shifts in U.S. economic and social policy—one that will ripple across markets and communities worldwide.
Reference(s):
cgtn.com
