'Big beautiful bill': Donald Trump hails 'great victory' as his spending bill squeezes through Senate for debate
Donald Trump. (AP)
US President Donald Trump on Sunday described the Senate's clearance of a key procedural hurdle for his proposed economic package as a "great victory," setting the stage for formal debate on legislation that includes tax cuts, spending reductions, and increased funding for deportation efforts.
"Tonight we saw a GREAT VICTORY in the Senate with the GREAT, BIG, BEAUTIFUL BILL," Trump wrote on his Truth Social platform after the vote. He credited specific Republican senators for their support, including Rick Scott, Mike Lee, Ron Johnson, and Cynthia Lummis.
"They, along with all of the other Republican Patriots who voted for the Bill, are people who truly love our Country! As President of the USA, I am proud of them all, and look forward to working with them to GROW OUR ECONOMY, REDUCE WASTEFUL SPENDING, SECURE OUR BORDER, FIGHT FOR OUR MILITARY/VETS, ENSURE THAT OUR MEDICAID SYSTEM HELPS THOSE WHO TRULY NEED IT, PROTECT OUR SECOND AMENDMENT, AND SO MUCH MORE.
GOD BLESS AMERICA &, MAKE AMERICA GREAT AGAIN!!!" he posted.
In a separate post, Trump added, "VERY PROUD OF THE REPUBLICAN PARTY TONIGHT. GOD BLESS YOU ALL!"
The Senate vote on Trump's ambitious bill took place late Saturday night (local time), with lawmakers narrowly passing a motion 51-49 to begin debate on the nearly 940-page bill. Two Republican senators joined all Democrats in opposing the motion. US vice president JD Vance was present in the chamber in case his vote was needed to break a tie.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Thị trường có dấu hiệu suy thoái không?
IC Markets
Đăng ký
Undo
The bill, referred to by Trump as his "big, beautiful bill", is part of a broader economic agenda the US president wants enacted before the July 4. It includes provisions for extending tax cuts, slashing federal spending, and allocating more funds for immigration enforcement.
The bill, nearly 940 pages long, was released late Friday night. Debate is expected to continue through the weekend, with multiple amendments and votes ahead.
If the Senate passes the bill, it would return to the House of Representatives for a final vote before reaching Trump's desk at White House.
Republicans, who currently hold a majority in both chambers, are pushing forward despite opposition from Democrats and some within their own party. Some GOP lawmakers have raised concerns about proposed cuts to programs such as Medicaid and food stamps, which are aimed at offsetting the costs of extending tax breaks worth around $3.8 trillion.
Earlier, the White House issued a statement saying it 'strongly supports passage' of the bill, calling it important for achieving the president's goals. 'It's time to get this legislation across the finish line,' said Senate Majority Leader John Thune.
Meanwhile, Elon Musk, a former Trump adviser, criticised the bill. "The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!' Musk said in a post, calling the package "utterly insane and destructive."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
23 minutes ago
- Business Standard
Asia shares rise as tech rally lifts Wall Street, US jobs test looms large
Asia shares firmed on Monday as seemingly unquenchable demand for technology companies lifted S&P 500 futures to another all-time peak, while the dollar dipped on concerns US jobs data will show enough weakness to justify larger rate cuts. Investors were also keeping a wary eye on the progress of a huge US tax-cutting and spending bill slowly making its way through the Senate, with signs it may not make it by President Donald Trump's preferred July 4 deadline. The Congressional Budget Office estimated the bill would add $3.3 trillion to the nation's debt, testing foreign appetite for US Treasuries. There was no doubting the demand for the US tech sector and megacap growth stocks including Nvidia, Alphabet and Amazon. Nasdaq futures rose another 0.3 per cent, while S&P 500 e-minis added 0.2 per cent. The bullish sentiment spilled over into Japan's Nikkei which rose 1.0 per cent, while South Korean stocks gained 0.5 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.1 per cent. A holiday on Friday means US payrolls are a day early, with analysts forecasting a rise of 110,000 in June with the jobless rate ticking up to 4.3 per cent. The resilience of the labour market is a major reason the majority of Federal Reserve members say they can afford to wait on cutting rates until they can gauge the true impact of tariffs on inflation, so a weak report would stoke speculation of a rate cut in July rather than September. "While initial jobless claims retreated somewhat from their recent high, continuing claims jumped higher yet again," noted Michael Feroli, head of US economics at JPMorgan. "Consumers' assessment of labor market conditions also deteriorated in the latest confidence report." "Both of these developments suggest that the unemployment rate in June should tick up to 4.3 per cent, with a significant risk of reaching 4.4 per cent." The latter outcome would likely see futures push up the chance of a July easing from the current 18 per cent and price in more than the present 63 basis points of cuts for this year. DOLLAR DOLDRUMS Fed Chair Jerome Powell will have an opportunity to repeat his cautious outlook when he joins several other central bank chiefs at the European Central Bank forum in Sintra on Tuesday. The prospect of an eventual policy easing has helped Treasuries weather worries about the US budget deficit and the huge amount of borrowing it entails. Yields on 10-year Treasuries were steady at 3.27 per cent, having fallen 9 basis points last week. The dollar has not fared so well, in part due to concerns tariffs and chaotic policies from the White House will drag on economic growth and erode the country's claim to exceptionalism. The euro was near its highest since September 2021 at $1.1731, having climbed 1.7 per cent last week, while sterling stood near a similar peak at $1.3719. The dollar was down a fraction at 144.48 yen, after losing 1 per cent last week, while the dollar index dipped to 97.163. James Reilly, a senior markets economist at Capital Economics, noted the dollar had fallen by more at this stage in the year than in any previous year since the US moved to a free-floating exchange rate in 1973. "At this point, further weakness could become self-reinforcing as underhedged European/Asian portfolios chase the move," he added. "So, we suspect that this could be a pivotal period for the greenback - either it turns around here or there is another 5 per cent or so fall around the corner." In commodity markets, the general revival in risk sentiment has undermined gold, which slipped to $3,266 an ounce and further away from April's record top of $3,500. [GOL/] Oil prices continued to struggle on concerns about plans for increased output from OPEC+, which contributed to a 12 per cent slide last week. [O/R] Brent dropped a further 55 cents to $67.22 a barrel, while US crude eased 68 cents to $64.84 per barrel.
Time of India
30 minutes ago
- Time of India
IAF lost jets over ‘political call', says def attache; quoted out of context: Govt
NEW DELHI: IAF lost some fighter jets when it conducted strikes on nine terror hubs in Pakistan and PoK on May 7 because India's political leadership had directed that no military establishments or air defences across the border were to be attacked on that day, India's defence attache to Indonesia, Captain Shiv Kumar, said at a seminar earlier this month. The remarks by Captain Kumar, who is a colonel-rank officer from the Navy, followed an acknowledgment of IAF's initial losses by Chief of Defence Staff General Anil Chauhan on May 31 in Singapore but he did not specify the exact number of fighters shot down. Modi govt is yet to officially quantify IAF's losses during Operation Sindoor . Pakistan has claimed to have shot down six Indian fighters, including three French-origin Rafales, on May 7 itself - an assertion that CDS Chauhan dubbed as "absolutely incorrect". Captain Kumar's comments led Congress to renew its attack on govt over its handling of Operation Sindoor. Speaking at a seminar on 'Analysis of the Pakistan-India Air Battle and Indonesia's Anticipatory Strategies from the Perspective of Air Power' on June 10, Capt Kumar said he "may not agree (with an earlier Indonesian speaker's claim) that we lost so many aircraft, but I do agree we did lose some aircraft and that happened only because of the constraint given by the political leadership to not attack their military establishments and air defences". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Преносим лазерен заваръчен пистолет, 50% отстъпка днес HL Купете сега Undo "After the loss, we changed our tactics and we went for the military installations (and radar sites). So, we first achieved suppression of enemy air defences and then that's why all our attacks could easily go through using Brahmos missiles (on May 10)," he further said, his comments being in line with CDS Chauhan's statement in May that after initial losses, Indian armed forces took remedial measures and were able to carry out precision strikes at Pakistan's airbases. After Capt Kumar's 20-day-old remarks came to light and were cited by Congress to criticise govt, Indian embassy in Indonesia said Capt Kumar's remarks "have been quoted out of context and the media reports are a mis-representation of the intention and thrust of the presentation made by the speaker". "The presentation conveyed that the Indian armed forces serve under civilian political leadership, unlike some other countries in our neighbourhood. It was also explained that the objective of Operation Sindoor was to target terrorist infrastructure and the Indian response was non-escalatory," it posted on X. Earlier, the CDS had said in Singapore, "What I can say is that on May 7, in the initial stages, there were losses. Numbers are not important. What was important is why did these losses occur, and what we will do after that."
The Hindu
33 minutes ago
- The Hindu
The Hindu Morning Digest: June 30, 2025
Trump says he's not planning to extend pause on global tariffs beyond July 9 U.S. President Donald Trump says he is not planning to extend a 90-day pause on tariffs on most nations beyond July 9, when the negotiating period he set would expire, and his administration will notify countries that the trade penalties will take effect unless there are deals with the United States. Letters will start going out 'pretty soon' before the approaching deadline, he said. 'We'll look at how a country treats us — are they good, are they not so good — some countries we don't care, we'll just send a high number out,' Mr. Trump told Fox News Channel's 'Sunday Morning Futures' during a wide-ranging interview taped Friday and broadcast Sunday. Remarks of Trinamool leaders on law college rape put party in a tight spot The remarks by Trinamool Congress leaders on the gang rape of a law student at the city South Calcutta Law College and bickering between its own leaders has put the party in a tight spot. Since June 27, when the Kolkata Police arrested three persons including a former student leader associated with the student wing of ruling party in connection with the crime, the Trinamool Congress has been busy dissociating with the prime accused Monojit Mondal. However, the remarks by senior party MP Kalyan Banerjee and MLA Madan Mitra have come as a bigger embarrassment to the party. Inquiry into Puri Rath Yatra stampede to be completed in 30 days: Odisha Minister Odisha's Law Minister Prithiviraj Harichandan on Sunday said that an administrative inquiry into the Puri stampede incident that left three people dead and 50 others injured would be completed within 30 days. The stampede took place near Shree Gundicha Temple in Puri early on Sunday (June 29) during a ceremony related to the ongoing Rath Yatra festivities. Mr. Harichandan said that Development Commissioner Anu Garg will submit her inquiry report to the Chief Minister within the stipulated 30 days. Maharashtra scraps three-language policy for primary education, sets up panel to make recommendations Maharashtra scrapped the introduction of the three-language policy for Classes 1 to 5 in State government schools on Sunday, after two months of sustained opposition by academics, activists, and political parties, including the Nationalist Congress Party, which is part of the ruling coalition in the State. To decide the future of the policy, the government set up an expert committee to be headed by economist and educationist Narendra Jadhav. 52 villages adjoining LAC, LoC in Ladakh to be reserved areas Fifty-two villages along the Actual Line of Control (ALC) have been declared reserved by the administration of the Union Territory of Ladakh to enable residents of these identified areas to avail reservation benefits in recruitment and other sectors, a notification issued on Sunday said. The Ladakh administration has achieved yet another milestone with the issuance of an official notification declaring specific areas as adjoining the Actual Line of Control under the provisions of the Jammu and Kashmir Reservation Act, 2004, as amended by the Ladakh Reservation (Amendment) Regulation, 2025, an official spokesperson said. Water body or low-lying land? A dispute that lies at the heart of Delhi's depleting wetlands A long-running tug of war between two government agencies in Delhi over Tikri Khurd lake, which spans over 40 acres in Narela, is symptomatic of why wetlands and water bodies are depleting in the national capital. It's been eight years since the Centre formulated wetland rules – which made it mandatory for all States and Union Territories to form State wetland authorities and identify and notify all wetlands – but not a single wetland has been notified in the Capital. Delhi-bound Air India flight from Tokyo's Haneda Airport diverted to Kolkata A Delhi-bound Air India flight from Tokyo's Haneda Airport was diverted to Kolkata on Sunday due to 'persistent warm temperature' in the cabin. The aircraft, however, landed safely, Air India said in a statement. Alternative arrangements are being made to fly our passengers to Delhi at the earliest, the airline statement said.\ Congress targets Centre over Indian defence attache's remarks on 'loss of fighter jets' during Operation Sindoor Citing an Indian defence attache's remarks in Indonesia that the Indian Air Force lost fighter jets to Pakistan during Operation Sindoor because of 'political constraints', the Congress on Sunday charged the government of 'misleading' the country. The party also asked why Prime Minister Narendra Modi was 'refusing' to preside over an all-party meeting to take the Opposition into confidence, and why the demand for a special session of Parliament was rejected. Netanyahu sees 'opportunities' to free Gaza hostages Israeli Prime Minister Benjamin Netanyahu said on Sunday that his country's 'victory' over Iran in their 12-day war had created 'opportunities', including for freeing hostages held in Gaza. 'Many opportunities have opened up now following this victory. First of all, to rescue the hostages,' Mr. Netanyahu said in an address to officers of the security services. Intercepted Iranian communications downplay damage from U.S. attack: Reports Intercepted Iranian communications downplayed the extent of damage caused by U.S. strikes on Iran's nuclear program, the Washington Post reported on Sunday, citing four people familiar with classified intelligence circulating within the U.S. government. A source, who declined to be named, confirmed that account to Reuters but said there were serious questions about whether the Iranian officials were being truthful, and described the intercepts as unreliable indicators. Lando Norris holds off Oscar Piastri to win Formula 1's Austrian Grand Prix In the week when the 'F1' movie hit theaters, Formula 1 delivered some real-life cinematic moments of its own. Teammates fought for the lead and came close to colliding as Lando Norris held off a race-long challenge from his McLaren teammate Oscar Piastri to win the Austrian Grand Prix on Sunday and lift his title hopes. Norris and Piastri battled for the lead early on, with the Australian briefly into the lead before Norris took the position back. A rash lunge by Piastri nearly caused a collision soon after.
