Trump's Tax Bill Triumph: A Debt-Driven Policy Push
The U.S. House has passed a contentious tax and spending bill aligned with President Trump's agenda, increasing federal debt by $3.8 trillion. The bill includes extending tax cuts, reducing green-energy incentives, and bolstering border enforcement. It now progresses to the Senate amid fiscal concerns and political division.
In a narrow victory for President Trump's policy agenda, the Republican-led U.S. House of Representatives passed a significant tax and spending bill by a single vote, which threatens to increase the national debt by $3.8 trillion over the next decade.
The bill, which aligns with several of Trump's populist campaign promises, proposes extending tax cuts, slashing green-energy incentives, expanding border enforcement, and amending social programs.
Despite its passage, the bill faces opposition in the Senate and criticism from Democrats who view it as a benefit for the wealthy at the expense of vulnerable Americans. The fiscal implications continue to worry investors, further impacting U.S. financial stability.
(With inputs from agencies.)
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- tax cuts
- green-energy
- Senate
- fiscal policy
- border enforcement
- Congress
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