WASHINGTON: The Republican-controlled US House of Representatives on Thursday passed a sweeping tax and spending bill by a single vote which would enact much of President Donald Trump's policy agenda and saddle the country with trillions of dollars more in debt.
The bill would fulfill many of Trump's populist campaign pledges, delivering new tax breaks on tips and car loans and boosting spending on the military and border enforcement. It will add about $3.8 trillion to the federal govt's $36.2 trillion in debt over the next decade, according to nonpartisan Congressional Budget Office. "This is arguably the most significant piece of Legislation that will ever be signed in the history of our country!" Trump said. The package passed in a 215-214 vote after a marathon push that kept lawmakers debating through two successive nights. All Democrats and two Republicans voted against it, while a third Republican voted "present", neither for nor against the bill. Another Republican missed the vote because he was asleep. What Trump has dubbed a "big, beautiful bill" now heads to the Republican-controlled Senate, where it will likely be changed further during weeks of debate.
The bill would extend corporate and individual tax cuts passed during Trump's first term in office and cancel many green incentives passed by Joe Biden. It also would fund Trump's crackdown on immigration.
The bill would fulfill many of Trump's populist campaign pledges, delivering new tax breaks on tips and car loans and boosting spending on the military and border enforcement. It will add about $3.8 trillion to the federal govt's $36.2 trillion in debt over the next decade, according to nonpartisan Congressional Budget Office. "This is arguably the most significant piece of Legislation that will ever be signed in the history of our country!" Trump said. The package passed in a 215-214 vote after a marathon push that kept lawmakers debating through two successive nights. All Democrats and two Republicans voted against it, while a third Republican voted "present", neither for nor against the bill. Another Republican missed the vote because he was asleep. What Trump has dubbed a "big, beautiful bill" now heads to the Republican-controlled Senate, where it will likely be changed further during weeks of debate.
The bill would extend corporate and individual tax cuts passed during Trump's first term in office and cancel many green incentives passed by Joe Biden. It also would fund Trump's crackdown on immigration.
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