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

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

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.