Latest news with #HouseResolution1
UPI
19 hours ago
- Business
- UPI
Trump signs 'One Big, Beautiful Bill' during Military Family Picnic
1 of 3 | President Donald Trump and First Lady Melania Trump greet attendees at the Military Family Picnic and signing ceremony for the One Big Beautiful Bill on the South Lawn of the White House on Friday. Photo by Kent Nishimura/UPI | License Photo July 4 (UPI) -- President Donald Trump signed into law House Resolution 1, which he called "One Big, Beautiful Bill," while hosting a Military Family Picnic event at the White House on Friday evening. The bill signing included a flyover of a pair of F-35 fighters escorting a B-2 Spirit bomber, which is the same type that dropped 30,000-pound bunker-buster bombs on Iranian nuclear facilities on June 21. Some 150 airmen and airwomen from Whiteman Air Force Base in Missouri were among the military members and their families who attended the picnic and bill signing. "The American people gave us a historic mandate in November," Trump said of his election victory over former Vice President Kamala Harris. A triumph of democracy Trump called the bill's passage a "triumph of democracy on the birthday of democracy," and said it is "the most popular bill ever signed in the history of our country." It includes the single largest tax cut, the largest spending cut and the largest border security investment in U.S. history, the president said. He said the measure modernizes the military, funds the creation of a" golden dome" national air defense system and drives economic growth. "This bill will fuel massive economic growth and lift up the hardworking citizens who make this country run -- the factory workers, farmers, mechanics, waiters, waitresses, police officers, firefighters, coal miners [and] truck drivers," Trump said. The bill makes tax cuts permanent, including no tax on tips, overtime and Social Security, the president said. It also makes the child tax credit permanent, creates a tax deduction on the interest paid on the purchase of new U.S.-made vehicles and eliminates the estate tax on family farms and small businesses. The 'Golden Age' of America Trump said the bill cuts taxes on new businesses and existing ones that build and expand their operations. "We have hundreds of factories, including car plants and [artificial intelligence], coming into our country at levels we have never seen," he told the audience. "Not only will we have the strongest economy on Earth, we also will have the strongest borders," Trump said, adding that there were no recorded illegal border crossings into the United States in June. "We are creating an economy that delivers wealth for the middle class, a border that is sovereign and secure, and a military that is unmatched[and] unequaled anywhere in the world," Trump said. "The Golden Age of America is upon us," the president said. "It's going to be a period of time, the likes of which ... the country has never experienced before." Lawmakers were thanked ahead of signing Trump thanked House Speaker Mike Johnson, R-La., Senate Majority Leader John Thune, R-S.D., and other Republican lawmakers who were among those in attendance for delivering the bill for signing on Independence Day. The controversial measure provides funding for the federal government for fiscal year 2026, which begins on Oct. 1, but adds an estimated $3.4 trillion to the national debt over the next 10 years. Trump said it reduces spending by $1.7 trillion while also delivering the "largest tax cut" in the nation's history. Trump delivered the 25-minute speech from the south portico of the White House and signed the bill into law from a small desk placed outside, while surrounded by supporters at 5:45 p.m. EDT Johnson then presented the gavel used when the House passed the bill on Thursday. Trump accepted the gavel and banged it several times on the small desk to conclude the signing and end the bill's legislative journey on Capitol Hill.
USA Today
2 days ago
- Business
- USA Today
Thomas Massie again one of two Republican 'no' votes on Trump's 'big, beautiful bill'
Republican U.S. Rep. Thomas Massie voted "no" — again — for the final passage of a sweeping national policy and spending bill backed by President Donald Trump. House Resolution 1, also labeled the "One Big, Beautiful Bill," is a massive piece of legislation that preserves tax cuts passed during Trump's first administration while also investing billions in border security and the U.S. military. It passed the House on a 218-214 vote July 3 and now heads to Trump's desk to be signed into law. Have thoughts to share? Send us a letter to the editor Massie, who has been a stark opponent of the legislation, was one of two Republican "no" votes, along with U.S. Rep. Brian Fitzpatrick, R-Pennsylvania. Earlier, U.S. Sen. Rand Paul of Kentucky was one of three Republicans to oppose the bill, which passed through the Senate on a 51-50 vote July 1, after Vice President JD Vance cast a tie-breaking vote. Massie had consistently spoken against the bill, saying he didn't believe it cut the federal deficit enough. His criticisms on the measure caught attention of Trump, who has targeted Massie in his upcoming May 2026 primary. While the bill has drawn massive support from Republicans, it drew heavy opposition from Democrats for its cuts to the Medicaid program and other measures. The rest of Kentucky's Republican federal delegation, including U.S. Reps. Hal Rogers, James Comer, Andy Barr and Brett Guthrie, voted in favor of the bill. U.S. Rep. Morgan McGarvey, the lone Democratic representative from the Bluegrass State, voted "no." More: Proposed censure of Thomas Massie hints at divide in Kentucky GOP amid Trump feud "This Republican budget is a slap in the face to Kentucky and all of rural America," McGarvey said in a statement. "It will kick millions of Americans off their health insurance, take food away from Kentucky families, kids, and seniors, and add trillions to the national debt. All so that Elon Musk and Jeff Bezos pay even less in taxes." Barr, however, in a statement argued the bill will help Kentuckians. 'Today, Kentucky families, workers, and small businesses got a historic tax cut — jet fuel for our economy and a boost for Kentuckians still recovering after four years of Bidenflation," Barr said. "This is the latest and greatest chapter of the Trump economic comeback — and the theme is promises made, promises kept." Reach reporter Hannah Pinski at hpinski@ or follow her on X, formerly known as Twitter, at @hannahpinski.
Yahoo
2 days ago
- Business
- Yahoo
Thomas Massie again one of two Republican 'no' votes on Trump's 'big, beautiful bill'
Republican U.S. Rep. Thomas Massie voted "no" — again — for the final passage of a sweeping national policy and spending bill backed by President Donald Trump. House Resolution 1, also labeled the "One Big, Beautiful Bill," is a massive piece of legislation that preserves tax cuts passed during Trump's first administration while also investing billions in border security and the U.S. military. It passed the House on a 218-214 vote July 3 and now heads to Trump's desk to be signed into law. Have thoughts to share? Send us a letter to the editor Massie, who has been a stark opponent of the legislation, was one of two Republican "no" votes, along with U.S. Rep. Brian Fitzpatrick, R-Pennsylvania. Earlier, U.S. Sen. Rand Paul of Kentucky was one of three Republicans to oppose the bill, which passed through the Senate on a 51-50 vote July 1, after Vice President JD Vance cast a tie-breaking vote. Massie had consistently spoken against the bill, saying he didn't believe it cut the federal deficit enough. His criticisms on the measure caught attention of Trump, who has targeted Massie in his upcoming May 2026 primary. While the bill has drawn massive support from Republicans, it drew heavy opposition from Democrats for its cuts to the Medicaid program and other measures. The rest of Kentucky's Republican federal delegation, including U.S. Reps. Hal Rogers, James Comer, Andy Barr and Brett Guthrie, voted in favor of the bill. U.S. Rep. Morgan McGarvey, the lone Democratic representative from the Bluegrass State, voted "no." More: Proposed censure of Thomas Massie hints at divide in Kentucky GOP amid Trump feud "This Republican budget is a slap in the face to Kentucky and all of rural America," McGarvey said in a statement. "It will kick millions of Americans off their health insurance, take food away from Kentucky families, kids, and seniors, and add trillions to the national debt. All so that Elon Musk and Jeff Bezos pay even less in taxes." Barr, however, in a statement argued the bill will help Kentuckians. 'Today, Kentucky families, workers, and small businesses got a historic tax cut — jet fuel for our economy and a boost for Kentuckians still recovering after four years of Bidenflation," Barr said. "This is the latest and greatest chapter of the Trump economic comeback — and the theme is promises made, promises kept." This story could be updated. Reach reporter Hannah Pinski at hpinski@ or follow her on X, formerly known as Twitter, at @hannahpinski. This article originally appeared on Louisville Courier Journal: Massie again votes 'no' on Trump's 'big, beautiful bill'
Miami Herald
4 days ago
- Automotive
- Miami Herald
Tesla stock falls amid Trump deportation threats directed at Elon Musk
July 1 (UPI) -- The share prices for Tesla stock tumbled on Tuesday after President Donald Trump suggested the federal government might end its electric vehicle subsidies and deport owner Elon Musk. Trump suggested Tesla and other Musk-owned enterprises would end without federal subsidies. "Electric cars are fine, but not everyone should be forced to own one," Trump said in a Truth Social post. "Elon may get more subsidy [sic] than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa," Trump continued. "No more rocket launches, satellites or electric car production, and our country would save a fortune," the president said. Trump's threat against Tesla subsidies might have triggered a drop in Tesla stock prices during Tuesday's trading. Tesla's share prices on NASDAQ closed at $317.66 on Monday after opening at $319.90 and reaching a high of $325.58 amid trades totaling 76.7 million shares. The number of shares sold on Tuesday was much higher at 143.2 million, with an opening price of $298.42, a high of $305.88 and closing at $300.71. Musk throughout the weekend and into Tuesday railed against the proposed fiscal year 2026 budget bill on social media. "It is obvious with the insane spending of this bill, which increases the debt ceiling by a record [$5 trillion] that we live in a one-party country -- the Porky Pig Party!" Musk said Monday in a post on X, ABC News reported. He also said the bill would cost workers to lose millions of jobs and threatened to fund primary challenges for every Republican senator who voted in favor of House Resolution 1, CBS News reported. The Senate approved the budget bill on a 51-50 vote after Vice President JD Vance cast the tie-breaking vote early Tuesday afternoon. Trump told reporters on Tuesday he would "have to take a look" at possibly deporting Musk, who is a naturalized U.S. citizen. The president also suggested having the Department of Government Efficiency investigate Musk, which Musk led for 130 days until the end of May. The public exchanges between Musk and Trump roiled Tesla's share price, and Trump told media the Tesla founder should not "be playing that game with me," CNBC reported. He said Musk is upset about losing the federal government's EV mandate if the budget bill becomes law. Musk also could lose federal subsidies that support SpaceX and the Starlink global satellite Internet services provider, Trump warned. Musk on social media dared the president to "cut it all" and said he might work to create a third political party "that actually cares about the people." Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
4 days ago
- Automotive
- UPI
Tesla stock falls amid Trump deportation threats directed at Elon Musk
Tesla share prices fell on Tuesday after President Donald Trump threatened to end all subsidies for businesses that are owned by Elon Musk. File Photo by John Angelillo/UPI | License Photo July 1 (UPI) -- The share prices for Tesla stock tumbled on Tuesday after President Donald Trump suggested the federal government might end its electric vehicle subsidies and deport owner Elon Musk. Trump suggested Tesla and other Musk-owned enterprises would end without federal subsidies. "Electric cars are fine, but not everyone should be forced to own one," Trump said in a Truth Social post. "Elon may get more subsidy [sic] than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa," Trump continued. "No more rocket launches, satellites or electric car production, and our country would save a fortune," the president said. Trump's threat against Tesla subsidies might have triggered a drop in Tesla stock prices during Tuesday's trading. Tesla's share prices on NASDAQ closed at $317.66 on Monday after opening at $319.90 and reaching a high of $325.58 amid trades totaling 76.7 million shares. The number of shares sold on Tuesday was much higher at 143.2 million, with an opening price of $298.42, a high of $305.88 and closing at $300.71. Musk throughout the weekend and into Tuesday railed against the proposed fiscal year 2026 budget bill on social media. "It is obvious with the insane spending of this bill, which increases the debt ceiling by a record [$5 trillion] that we live in a one-party country -- the Porky Pig Party!" Musk said Monday in a post on X, ABC News reported. He also said the bill would cost workers to lose millions of jobs and threatened to fund primary challenges for every Republican senator who voted in favor of House Resolution 1, CBS News reported. The Senate approved the budget bill on a 51-50 vote after Vice President JD Vance cast the tie-breaking vote early Tuesday afternoon. Trump told reporters on Tuesday he would "have to take a look" at possibly deporting Musk, who is a naturalized U.S. citizen. The president also suggested having the Department of Government Efficiency investigate Musk, which Musk led for 130 days until the end of May. The public exchanges between Musk and Trump roiled Tesla's share price, and Trump told media the Tesla founder should not "be playing that game with me," CNBC reported. He said Musk is upset about losing the federal government's EV mandate if the budget bill becomes law. Musk also could lose federal subsidies that support SpaceX and the Starlink global satellite Internet services provider, Trump warned. Musk on social media dared the president to "cut it all" and said he might work to create a third political party "that actually cares about the people."
