Trump to sign major tax-cut and spending bill into law on Friday
FILE PHOTO: U.S. President Donald Trump speaks during a press conference in the Roosevelt Room at the White House in Washington, D.C., U.S., May 12, 2025. REUTERS/Nathan Howard/File Photo
President Donald Trump is scheduled to sign a massive package of tax and spending cuts into law at a ceremony at the White House on Friday, one day after the Republican-controlled House of Representatives narrowly approved the legislation.
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.
Trump is expected to sign the bill on Friday around 5 p.m. ET at a White House celebration for the July 4 Independence Day holiday. The ceremony is expected to include a flyover by stealth bombers and fighter jets that took part in the recent U.S. strikes on nuclear facilities in Iran.
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 $3.4 trillion to the nation's $36.2 trillion debt.
In a post to X on Thursday, White House press secretary Karoline Leavitt wrote, "The pro-growth policies within this historic legislation are going to fuel an economic boom like we've never seen before."
While some lawmakers in Trump's party expressed concerns over the bill's price tag and its hit to healthcare programs, 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. REUTERS
Top stories
Swipe. Select. Stay informed.
Singapore PAP has begun search for new candidates; PM Wong hopes to deploy them earlier ahead of next GE
Singapore 20 retired MPs spoke up on many issues in Parliament, helped successors prepare for new role: PM Wong
Singapore $3b money laundering case: 9 financial institutions handed $27.45m in MAS penalties over breaches
Singapore Banks tighten vigilance and processes following $3b money laundering case
Asia JB petrol station shooting: Dead man with bullet wounds dumped at hospital
Singapore Trilateral work group formed to address allegations of foreigners illegally taking on platform work
Singapore Power distribution system in renewal project may be linked to Bukit Panjang LRT disruption: SMRT
Singapore Rise in number of scam e-mails claiming to be from Cardinal William Goh: Catholic Church
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
an hour ago
- Straits Times
Denmark confronts familiar foes in Ukraine and Moldova's push to join the European Union
Sign up now: Get ST's newsletters delivered to your inbox – Denmark has taken over the rotating presidency of the European Union, vowing to tackle Europe's top and most politically sensitive topics: strengthening Europe's defences and preparing Ukraine for eventual EU membership. 'The world that secured our freedom and made us prosper can no longer be taken for granted,' Danish Prime Minister Mette Frederiksen told EU leaders at the opening ceremony of her country's presidency, held on July 3 in Aarhus, Denmark's second-largest city. 'We have to rearm Europe, and we have to boost our support to Ukraine,' Ms Frederiksen added. The 47-year-old leader, who is her nation's youngest-ever prime minister and has led the northern European state since 2019, has a strong record on such matters. Ms Frederiksen's government spends more than 3 per cent of the nation's gross domestic product on its military, way ahead of most other European nations. It also recently decided that Danish women should join men in being liable for compulsory call-ups to national military service. Ms Frederiksen wasted no time in showing that the determination she displayed at home now also applies to the EU as a whole. Top stories Swipe. Select. Stay informed. Singapore Asean needs 'bolder reforms' to attract investments in more fragmented global economy: PM Wong Singapore CPF members can make housing, retirement and health insurance plans with new digital platform Singapore CPF's central philosophy of self-reliance remains as pertinent as ever: SM Lee Asia Dalai Lama hopes to live beyond 130 years, much longer than predicted Sport Liverpool will move on after Jota's tragic death, but he will never be forgotten Singapore Tan Cheng Bock, Hazel Poa step down from PSP leadership; party launches 'renewal plan' Singapore Rock climbing fan suddenly could not jump, get up from squats Life Japanese food in Singapore under $20: 5 hawker stalls serving restaurant-quality sashimi and donburi Ukrainian President Volodymyr Zelensky was invited as special guest at the opening ceremony of the Danish EU presidency, where he was told by Ms Frederiksen that 'Ukraine belongs to the European family', and that Denmark is thinking about the 'best way forward' to ensure that Ukraine becomes an EU member. And on July 4, the EU under the Danish presidency also reaffirmed its determination to beef up Ukraine's security by holding a summit with Moldova, another former Soviet republic which borders Ukraine and feels equally threatened by Russian President Vladimir Putin. 'EU leaders reiterated their unwavering commitment to Moldova's sovereignty, security and resilience, in light of the consequences of the Russia's ongoing war of aggression against Ukraine and Russia's continued hybrid attacks against Moldova,' read the post-summit joint statement released in the early hours of July 5. But as the Danish Prime Minister knows only too well, the powers of her presidency of the EU are limited. And the obstacles of admitting Ukraine and Moldova into the EU remain formidable. Historically, the presidency of the EU, which rotates between the Union's 27 member-states every six months, played a vital role as a broker in all key decisions. Yet due to various treaty changes, the presidency now fulfils more basic tasks such as staging the EU summits and other meetings, and chairing them. This does not mean that Ms Frederiksen's role for the rest of this year will be purely ceremonial. Since most of the EU meetings end up in heated debates about the allocation of resources, a determined, resourceful but tactful leader can make a great deal of difference. Still, the reality remains that while Ms Frederiksen can suggest compromises, she cannot enforce them. Moldova's path to EU membership encounters few difficulties. The country is among Europe's poorest. But at 2.3 million, its population represents a negligible economic challenge for the EU. Indeed, most Moldovan citizens are already EU citizens, since Moldova was formed out of territory the Soviet Union seized from Romania, so the overwhelming majority of Moldovans are ethnic Romanians and therefore qualify for Romanian passports, which grant automatic right to work and live throughout the EU. To make matters better still, President Maia Sandu of Moldova endeared herself throughout Europe with her determined stance against Russia's invasion of neighbouring Ukraine, and her defiance of Russian efforts to bribe Moldovan voters when she faced re-election in November 2024. So, although Moldova still has to work hard to adapt its laws and governance procedures to EU standards, the country's bid to join the EU is largely unopposed. The snag is that Moldova's EU membership makes no strategic sense unless that of Ukraine accompanies it. And Ukraine's EU membership is now a hot political potato in Brussels. Unlike Moldova, Ukraine is a vast state. If it were to join the EU, its 37.7 million-strong population would rank it fifth in the Union, granting Ukraine a significant influence within EU institutions. Ukraine is also a big agricultural producer and exporter of food products, so its EU membership will directly affect farmers throughout the Union. And although millions of Ukrainian refugees were welcomed with open arms in 2022 when the Russian invasion began, many in Europe are now – more than three years after the start of the conflict – getting tired of them. Hungarian Prime Minister Viktor Orban, often an opponent of EU projects, claims to have conducted a 'national consultation' in June 2025 over Ukraine's potential EU membership. Turnout was poor, and the Hungarian government has not released audited figures of the number of voters who cast ballots. But Mr Orban has claimed that 95 per cent of those who did participate opposed Ukraine's EU membership, and believes this gives Hungary the right to veto any Ukrainian membership application. 'The problem is the war . I f we were to integrate Ukraine into the EU, we would integrate the war . W e wouldn't want to be in the same community as a country at war,' Mr Orban explained. Meanwhile, the people of Poland – central and eastern Europe's most populous state – elected as their new president on June 1 a far-right politician whose main promise is to oppose Ukraine's EU membership. The feeling in many European capitals is that Poland's newly elected president will relent when faced with arguments that Ukraine's EU membership is the only way Europe can safeguard Ukraine's independence. But Hungary's opposition is more entrenched, and nothing would please Mr Orban more than to hold Europe to ransom, for decisions on admitting new members must be made by unanimity. Since Hungary is already embroiled in a number of long-standing disputes with the EU, Danish Prime Minister Frederiksen has hinted at the possibility of using provisions in the EU founding treaties to suspend Hungary's voting rights in the Union; that would mean that a decision on Ukraine could be held without the threat of a Hungarian veto. Denmark is 'willing to look at all political and practical solutions for us to move forward,' Ms Marie Bjerre, the country's European affairs minister, told journalists. However, it is not clear that Denmark can secure the support of other EU member states for such a radical confrontational step. And Denmark has another problem on which it prefers to remain silent. In the 47-page document summarising the priorities of the Danish EU presidency, Greenland – the Danish-ruled territory President Donald Trump wants to annex to the United States – is not mentioned even once. The Danes evidently hope Mr Trump will not notice who is now in charge of the EU.
International Business Times
an hour ago
- International Business Times
Elon Musk Slams Trump's $5 Trillion Bill, Proposes 'America Party' to Break Two-Party Grip
Elon Musk used Independence Day to reignite political tensions, taking aim at the U.S. government's fiscal policies and the dominance of its two-party structure. Posting on X, the tech mogul and SpaceX CEO denounced former President Donald Trump's latest legislative push—a sweeping second-term spending bill—as irresponsible and damaging. Calling the bill "insane" and a betrayal of working Americans, Musk accused both Republicans and Democrats of operating as a single, corrupt entity. "It's time to ask if we want independence from the two-party—or some might say uniparty—system," Musk wrote on July 4. He then floated the idea of a new movement: the "America Party," even launching a poll to test public support for a third-party alternative. In follow-up posts, Musk laid out a potential roadmap for gaining political influence without needing a large base. He suggested focusing efforts on just a handful of swing congressional districts and Senate seats. "With razor-thin margins in Congress, just a few seats could control key legislation," he argued, positioning the hypothetical party as a kingmaker rather than a traditional power bloc. This wasn't Musk's first warning. On July 1, he vowed that if the $5 trillion bill passed, he would immediately begin the process of launching a new political organization. The bill, which expands the federal debt ceiling by a record amount, passed the Senate earlier that week. In a particularly scathing remark, Musk mocked the bipartisan approval of the bill, calling Washington a "Porky Pig Party." He accused lawmakers of selling out the American people in favor of special interests, saying the legislation increases national debt while ignoring the economic struggles of ordinary citizens. Musk's opposition to the bill aligns with his longstanding criticism of government overspending. However, his latest posts go further—suggesting he may be preparing to back or build an actual third party, something rarely attempted in modern U.S. politics with success. While Musk has not officially declared a political campaign or party formation, his July 4 statements were more than symbolic. They suggest a growing interest in shaping national policy beyond the tech and business sectors. His massive social media following and influence give him an unusual platform to sway political sentiment, especially among independents and younger voters disillusioned with traditional parties.
Straits Times
2 hours ago
- Straits Times
Bosnia's prosecutor lifts arrest warrant against separatist Serb leader
FILE PHOTO: Bosnian Serb leader Milorad Dodik arrives at the Kremlin to attend a festive concert, held on the occasion of the 80th anniversary of the victory over Nazi Germany in World War Two, in Moscow, Russia, May 8, 2025. Alexander Kryazhev/Host agency RIA Novosti/Handout via REUTERS/File Photo BELGRADE - Bosnia's prosecutor's office said it had lifted an arrest warrant against separatist Serb leader Milorad Dodik after he surprisingly appeared at a hearing investigating allegations against him of violating the constitutional order. After months of ignoring summons to attend the prosecutor's office to answer questions, Dodik appeared at a hearing on Friday, authorities said in a statement issued late on Friday. Dodik is a long-time advocate of the secession of the autonomous Serb Republic, one of two regions in Bosnia linked by a weak central government, and the crisis precipitated by his separatist push represents one of the biggest threats to peace in the Balkans since the 1990s conflicts that followed Yugoslavia's collapse. In February, he was sentenced to one year in jail and banned from holding office for six years for defying the decisions of an international peace envoy, the ultimate interpreter of Bosnia's constitution under the Dayton peace accords that ended the 1992-95 war in which 100,000 people were killed. In March, Bosnian state prosecutors ordered Dodik's arrest for ignoring a court summons. Following Friday's hearing, Bosnia's prosecutor's office and the court issued a statement saying that the arrest warrant for him was withdrawn, though he will still have to report periodically to state authorities. REUTERS
