In the early hours of July 3rd, Eastern Time in the United States, and this afternoon Beijing time,
The Republican-controlled House of Representatives advanced President Trump’s sweeping tax and spending bill, also known as the “big and beautiful” bill, with a narrow margin of 219 votes in favor to 213 against, clearing the way for a comprehensive debate and final vote later.
Subsequently, the House will enter into formal debate and voting procedures on the bill.
The so-called “big and beautiful” bill is a simplified term used by Trump for his large-scale tax and expenditure bill. According to the Republican side that introduced the bill, it is an extension and upgrade of Trump’s first term tax policy, as well as a reduction and adjustment of policies from the Biden administration’s “green new deal,” welfare and expenditures. The bill plans to reduce taxes by $4 trillion over the next decade and cut at least $1.5 trillion in spending.
On July 1st, the U.S. Senate passed the so-called “big and beautiful” bill, promoted by President Trump, with a slim majority, and submitted it to the House of Representatives.
Trump’s “big and beautiful” bill tears apart America.