Trump's Controversial Tax and Spending Bill Passes Congress

In a high-stakes political maneuver, House Republicans successfully pushed through President Donald Trump's USD 4.5 trillion tax overhaul and spending bill, achieving a key objective before the Fourth of July holiday. This controversial legislation faced staunch opposition from Democrats, as well as two Republicans, who joined a narrow majority to pass the bill amid heated debates.

House Speaker Mike Johnson emphasized the bill's potential impact, claiming it would strengthen the nation and accomplish comprehensive conservative reforms. Job creation, economic growth, and defense investments are central to the bill, which Republican leaders view as a conservative triumph.

However, Democrats argued that the bill favors the wealthy and compromises vital safety nets. Concerns were raised about substantial Medicaid funding cuts and the expiration of green energy tax credits, with estimates suggesting the bill could add USD 3.3 trillion to the deficit over the next decade.

(With inputs from agencies.)