In a razor-thin 51-49 vote, the U.S. Senate approved President Donald Trump’s signature tax and spending package, dubbed One Big Beautiful Bill. The bill promises sweeping cuts to corporate and individual tax rates, boosts to defense and immigration enforcement budgets, and a leaner social safety net—yet it comes with a staggering $3.3 trillion addition to the national debt.
Proponents argue that lower taxes will fuel business growth and consumer spending, while increased military and border security funding aims to address national priorities. Critics warn that trimming programs like health care subsidies and unemployment benefits could widen inequality and leave vulnerable communities exposed. With a projected impact on inflation and long-term fiscal sustainability, the bill’s true cost may stretch across generations.
Global markets took notice. U.S. Treasury yields ticked higher, and analysts from Tokyo to Frankfurt are weighing the ripple effects on interest rates, currency values, and investor confidence. For young entrepreneurs, digital nomads, and global investors, the question looms: will tax relief outweigh the risks of ballooning debt?
Next up is the House of Representatives, where a handful of Republicans have already voiced reservations about key provisions. As the bill moves toward a final vote, watch for spirited debates in Washington—and share your perspective. How do you think this landmark legislation will reshape the U.S. economy and its role on the world stage?
Reference(s):
cgtn.com
