logo
'Big Beautiful Bill Act:' Trump signs tax and spending bill into law

'Big Beautiful Bill Act:' Trump signs tax and spending bill into law

Gulf Today5 hours ago
US President Donald Trump signed into law a massive package of tax and spending cuts at the White House on Friday, staging an outdoor ceremony on the Fourth of July holiday that took on the air of a Trump political rally.
With military jets flying overhead and hundreds of supporters in attendance, Trump signed the bill one day after the Republican-controlled House of Representatives narrowly approved the signature legislation of the president's second term.
The bill, which will fund Trump's immigration crackdown, make his 2017 tax cuts permanent, and is expected to knock millions of Americans off health insurance, was passed with a 218-214 vote after an emotional debate on the House floor. The US President described the law as a major achievement.
Donald Trump shows his signature on the "Big Beautiful Bill Act" at the White House in Washington on Friday. WAM
"I've never seen people so happy in our country because of that, because so many different groups of people are being taken care of: the military, civilians of all types, jobs of all types," Trump said at the ceremony, thanking House Speaker Mike Johnson and Senate Majority Leader John Thune for leading the bill through the two houses of Congress.
"So you have the biggest tax cut, the biggest spending cut, the largest border security investment in American history," Trump said.
Trump scheduled the ceremony on the South Lawn of the White House for the July 4 Independence Day holiday, replete with a flyover by stealth bombers and fighter jets like those that took part in the recent US strikes on nuclear facilities in Iran.
Hundreds of Trump supporters attended, including White House aides, members of Congress, and military families. After a speech that included boastful claims about the ascendance of America on his watch, Trump signed the bill, posed for pictures with Republican congressional leaders and members of his cabinet, and waded through the crowd of happy supporters.
Donald Trump arrives with First Lady Melanie Trump to sign the "Big Beautiful Bill Act" at the White House in Washington. AFP
The bill's passage amounts to a big win for Trump and his Republican allies, who have argued it will boost economic growth, while largely dismissing a nonpartisan analysis predicting it will add more than $3 trillion to the nation's $36.2 trillion debt. While some lawmakers in Trump's party expressed concerns over the bill's price tag and its hit to healthcare programmes, in the end just two of the House's 220 Republicans voted against it, joining all 212 Democrats in opposition.
The tense standoff over the bill included a record-long floor speech by House Democratic Leader Hakeem Jeffries, who spoke for eight hours and 46 minutes, blasting the bill as a giveaway to the wealthy that would strip low-income Americans of federally-backed health insurance and food aid benefits. Democratic National Committee Chair Ken Martin predicted the law would cost Republicans votes in congressional elections in 2026.
"Today, Donald Trump sealed the fate of the Republican Party, cementing them as the party for billionaires and special interests - not working families," Martin said in a statement. "This legislation will hang around the necks of the GOP for years to come. This was a full betrayal of the American people. Today, we are putting Republicans on notice: you will lose your majority."
Reuters
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

OPEC+ speeds up oil output hikes, adds 548,000 bpd in August
OPEC+ speeds up oil output hikes, adds 548,000 bpd in August

ARN News Center

time4 hours ago

  • ARN News Center

OPEC+ speeds up oil output hikes, adds 548,000 bpd in August

OPEC+ agreed on Saturday to raise production by 548,000 barrels per day in August, further accelerating output increases at its first meeting since oil prices jumped - and then retreated - following Israeli and US attacks on Iran. The group, which pumps about half of the world's oil, has been curtailing production since 2022 to support the market. But it has reversed course this year to regain market share and as US President Donald Trump demanded the group pump more to help keep gasoline prices lower. The production boost will come from eight members of the group - UAE, Saudi Arabia, Russia, Kuwait, Oman, Iraq, Kazakhstan and Algeria. The eight started to unwind their most recent layer of cuts of 2.2 million bpd in April. The August increase represents a jump from monthly increases of 411,000 bpd OPEC+ had approved for May, June and July, and 138,000 bpd in April. OPEC+ cited a steady global economic outlook and healthy market fundamentals, including low oil inventories, as reasons for releasing more oil. The acceleration came after some OPEC+ members, such as Kazakhstan and Iraq, produced above their targets, angering other members that were sticking to cuts, sources have said. Kazakh output returned to growth last month and matched an all-time high. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, wants to expand market share amid growing supplies from rival producers like the United States, sources have said. With the August increase, OPEC+ will have released 1.918 million bpd since April, which leaves just 280,000 bpd to be released from the 2.2 million bpd cut. On top of that, OPEC+ allowed the UAE to increase output by 300,000 bpd. The group still has in place other layers of cuts amounting to 3.66 million bpd. The group of eight OPEC+ members will next meet on August 3.

'Big Beautiful Bill Act:' Trump signs tax and spending bill into law
'Big Beautiful Bill Act:' Trump signs tax and spending bill into law

Gulf Today

time5 hours ago

  • Gulf Today

'Big Beautiful Bill Act:' Trump signs tax and spending bill into law

US President Donald Trump signed into law a massive package of tax and spending cuts at the White House on Friday, staging an outdoor ceremony on the Fourth of July holiday that took on the air of a Trump political rally. With military jets flying overhead and hundreds of supporters in attendance, Trump signed the bill one day after the Republican-controlled House of Representatives narrowly approved the signature legislation of the president's second term. The bill, which will fund Trump's immigration crackdown, make his 2017 tax cuts permanent, and is expected to knock millions of Americans off health insurance, was passed with a 218-214 vote after an emotional debate on the House floor. The US President described the law as a major achievement. Donald Trump shows his signature on the "Big Beautiful Bill Act" at the White House in Washington on Friday. WAM "I've never seen people so happy in our country because of that, because so many different groups of people are being taken care of: the military, civilians of all types, jobs of all types," Trump said at the ceremony, thanking House Speaker Mike Johnson and Senate Majority Leader John Thune for leading the bill through the two houses of Congress. "So you have the biggest tax cut, the biggest spending cut, the largest border security investment in American history," Trump said. Trump scheduled the ceremony on the South Lawn of the White House for the July 4 Independence Day holiday, replete with a flyover by stealth bombers and fighter jets like those that took part in the recent US strikes on nuclear facilities in Iran. Hundreds of Trump supporters attended, including White House aides, members of Congress, and military families. After a speech that included boastful claims about the ascendance of America on his watch, Trump signed the bill, posed for pictures with Republican congressional leaders and members of his cabinet, and waded through the crowd of happy supporters. Donald Trump arrives with First Lady Melanie Trump to sign the "Big Beautiful Bill Act" at the White House in Washington. AFP The bill's passage amounts to a big win for Trump and his Republican allies, who have argued it will boost economic growth, while largely dismissing a nonpartisan analysis predicting it will add more than $3 trillion to the nation's $36.2 trillion debt. While some lawmakers in Trump's party expressed concerns over the bill's price tag and its hit to healthcare programmes, in the end just two of the House's 220 Republicans voted against it, joining all 212 Democrats in opposition. The tense standoff over the bill included a record-long floor speech by House Democratic Leader Hakeem Jeffries, who spoke for eight hours and 46 minutes, blasting the bill as a giveaway to the wealthy that would strip low-income Americans of federally-backed health insurance and food aid benefits. Democratic National Committee Chair Ken Martin predicted the law would cost Republicans votes in congressional elections in 2026. "Today, Donald Trump sealed the fate of the Republican Party, cementing them as the party for billionaires and special interests - not working families," Martin said in a statement. "This legislation will hang around the necks of the GOP for years to come. This was a full betrayal of the American people. Today, we are putting Republicans on notice: you will lose your majority." Reuters

Hamas wants guarantees from Trump and 'not anyone else' on Gaza ceasefire
Hamas wants guarantees from Trump and 'not anyone else' on Gaza ceasefire

The National

time5 hours ago

  • The National

Hamas wants guarantees from Trump and 'not anyone else' on Gaza ceasefire

Hamas is seeking personal guarantees from US President Donald Trump that the war in Gaza will come to a complete end as the main condition for a ceasefire with Israel, a senior official said on Saturday. 'We submitted our positive response to the mediators yesterday. A new round of negotiations is expected to begin, focusing on the core issues: Israeli withdrawal and an end to the war,' the Hamas official explained. 'The guarantees we are seeking must come from the Americans — President Trump personally, not anyone else,' he added. The US, Egypt and Qatar have proposed a 60-day ceasefire during which some Israeli hostages would be released. Hamas on Friday said it had given a 'positive response' to the proposal, four months after the previous agreement collapsed. The Hamas official said the deal currently on the table would see the group releasing 10 living Israeli hostages and returning the bodies of 18 others. Mr Trump had called it a "final proposal" and said he expected Hamas to answer within 24 hours. When told about the Hamas response by reporters aboard Air Force One he replied: "That's good. They haven't briefed me on it. We have to get it over with. We have to do something about Gaza." He said there "could be a Gaza deal" next week and that he was optimistic, although the situation "changes day to day". Points of contention The response by Hamas appeared not to signal an immediate end to hostilities, though. The group is seeking assurances from mediators that some additional demands will be met, sources told The National on Friday. The sources confirmed Hamas would convey its acceptance of the proposed deal along with a request for assurances from US, Egyptian and Qatari mediators about the implementation of some of its 'unpublicised' clauses. These include the return by Israel of the bodies of some of the group's leaders killed during the Gaza war, including Yahya Sinwar and his brother Mohammed. The Hamas official pointed out several remaining points of contention that still need to be resolved. "For example, the Israelis don't want to withdraw; they want to talk about a redeployment. That's unacceptable. The wording needs to be clear on this point," he explained. 'Regarding aid distribution, the original text assigns the task to the Gaza Humanitarian Foundation, but we requested it be amended to specify recognised UN agencies, such as UNRWA and others.' Other clauses cover the laying down and storing of the group's arms and the guaranteed return to Gaza of wounded Palestinians, who will be allowed under the deal to leave the strip for treatment abroad, sources close to the negotiations said. The clauses also include the creation of a 1km-deep safe zone on the Palestinian side of the entire Gaza-Israel border, which will be free of human habitation or any economic activity, including farming. According to these clauses, an unnamed Arab nation will supervise the storage of Hamas's weapons, and Israel will be prevented from excluding any area of Gaza from the distribution of badly needed humanitarian resistance. According to a two-page draft text obtained by The National on Friday, the handover of hostages and bodies will start on the first day of the truce and end on the final day. In return, Israel will release more than 1,000 Palestinians held in Israeli prisons, including scores serving long terms. On the 10th day of the truce, Hamas is expected to provide 'comprehensive information' on the remaining hostages. In return, Israel will provide information on Palestinians it has detained since October 7, 2023, the day the Gaza war began with an attack on southern Israel communities by Hamas and its allies. Ramped up strikes The Hamas-led attacks prompted a devastating military assault by Israel that has so far killed more than 57,000 Palestinians, according to health authorities in Gaza. The war has displaced the majority of the enclave's estimated two million population, with many having to flee more than once, and destroyed swathes of built-up areas. On Saturday, hours after Hamas said it delivered its "positive" response, Israel ramped up its assault on Gaza despite the ceasefire momentum. Medical sources and eyewitnesses reported heavy shelling and airstrikes targeting Rafah and Khan Younis in the south, Gaza city in the north, and central refugee camps. In Rafah, eight people were killed and more than 40 injured when Israeli forces opened fire near an aid distribution site linked to the US-Israel Gaza Humanitarian Foundation (GHF). To the east, in Bani Suheila near Khan Younis, four more Palestinians were killed in an airstrike. Another strike on tents sheltering displaced families in Al-Mawasi, west of the city, killed seven and injured over ten. Gaza city also came under sustained attack. Artillery fire in the Zarqa area killed one person, while an Israeli strike on Al Shafii School in Zaytoun killed five and wounded several more. Rescue workers later recovered the bodies of two people killed in the Shujaiyya neighbourhood, and strikes on residential buildings caused further casualties. In central Gaza, Israeli drones targeted homes in Al-Bureij and Al-Maghazi refugee camps, killing at least four and injuring others.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store