President Trump made it clear that Congress had to pass a bill by July 4. The approval of the tax and spending plan is the end of a long and difficult process. This law is one of the most important things Trump has done to keep his campaign pledges, including making the tax cuts from 2017 permanent and spending more on military and border security. The measure also eliminates social assistance programs, such as food and healthcare benefits. This is in line with the president’s goal of cutting government spending.
Trump was sure that the bill would have an effect, claiming it would “turn this country into a rocket ship.” Republicans say the package is good for fiscal responsibility and national security, but Democrats say it hurts poor Americans and helps the rich too much.
What are the most important parts of the tax and spending bill?
The tax and spending measure includes parts that are meant to lower the national deficit, but its detractors say it might make the government debt far worse. The Congressional Budget Office says that the bill may add $3.3 trillion to the federal deficit over the next ten years. The law cuts back on healthcare subsidies and food aid programs, and it focuses on lowering tax credits for clean energy projects.
The measure sets aside $150 billion for border security and immigration enforcement, which includes money for detention centers and immigration officials. This is in addition to cuts to domestic programs. The Trump administration’s top objective is to build the “gold dome” missile defense system, which will cost another $150 billion.
The plan also talks about the president’s campaign promises from 2016, such as making the tax cuts that were passed in 2017 permanent. It also raises taxes on tips, overtime, and Social Security recipients. These steps add to the bill’s expected $4.5 trillion cost over the next ten years. Here is the link to our article on Trump’s Federal Buyout
What did the House and Senate do about the bill?
Even though many Republicans supported the law, some in the party strongly opposed it. Several Republican legislators were worried about how the vote would affect the national debt in the long run, which delayed the vote for several hours. But after a lot of hard work and pressure from the White House, the law finally passed in both houses of Congress.
Mike Johnson, the Speaker of the House and a crucial person in getting people to support the bill, was happy with the final result. He stressed that Republicans who were unsure about the idea needed to believe that it could help the country. “I believed in the people behind me,” Johnson said, stressing how important it was for the party to be united to pass the bill.
A lot of Republicans were in favor of the bill, but a few lawmakers, such as Representatives Chip Roy, Thomas Massie, and Brian Fitzpatrick, voted against it. The bill passed in the House by a small margin, despite resistance, showing how divided the party is.
What did Democrats say about the wrong bill?
Democrats spoke out against the tax and spending bill, saying it will hurt the American people. Hakeem Jeffries, the House Minority Leader, gave a speech that lasted almost nine hours to put off the vote. He said the measure was bad because it took away important services from poor Americans while giving tax incentives to the richest people and businesses. Former Speaker Nancy Pelosi and other Democratic leaders called the plan a “dark and harrowing” development that fulfilled radical Republican goals in a hazardous way.
Rep. Deborah Ross from North Carolina said the same thing: “Shame on those who voted to hurt so many in the service of so few.” Rep. Marc Veasey from Texas called the Republican Party the party of “cowards, chaos, and corruption.” Here is the link to our article on Battleground States Tight
What effect did the bill have on politics?
The tax and spending bill’s passing has made the big differences between the Republican and Democratic parties even clearer. The bill was a win for Trump and his supporters, but it also showed how divided the GOP is, with several members worried about how the package will affect the national debt and social programs in the long run.
The fights going on in Congress right now also show how hard it is for Trump to keep his party together. The bill did get enacted, but it took a lot of heated debates and public differences among Republicans. Some politicians were unhappy that the revisions to the original Senate version were not very significant.
Final Thoughts: What Will This Bill Mean for the Future of the United States?
The tax and spending bill is one of the most important laws that the Trump administration has passed, yet it is still quite controversial. Republicans like the measure because it lowers taxes and increases funds for the military and border security. Democrats, on the other hand, say that it hurts the health of poor Americans to help the rich.
When President Trump signs the measure into law, it will be easier to see how it would affect the economy and social services in the United States. With worries about the national debt growing, the passing of the bill will probably affect future discussions about government spending, fiscal policy, and social safety nets.
