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Trump gets his bill through for 4 July but economy may pay the price

The Observer

|

July 06, 2025

In the end, Donald Trump got what he wished for. His “big, beautiful bill” successfully made its way through Congress just in time for the celebratory 4 July fireworks.

- Fred Harter

Trump gets his bill through for 4 July but economy may pay the price

Given the rush to get it across the line, and last-minute changes made to turn reluctant Republican politicians into yes voters, it is not clear that anyone actually read the full bill before it was approved. A few nasty surprises may be unearthed over the holiday weekend.

"A dark day for our fiscal future", was the verdict of the nonpartisan Committee for a Responsible Federal Budget (CRFB), noting that the package of tax and spending cuts would add at least $4.1tr to America's national debt by 2034 — and that if various temporary elements of the law were to be extended permanently (which few Washington DC watchers would bet against), that total would rise to $5.5tr.

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यह कहानी The Observer के July 06, 2025 संस्करण से ली गई है।

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