On July 3rd, local time, the White House announced that President Donald Trump would sign the “Bigger, Better, Faster” Act at 17:00 local time on July 4th.
The “Bigger, Better, Faster” Act awaits President Trump’s signature to be passed by the U.S. Congress in the House of Representatives.
In the afternoon of July 3rd, local time, the U.S. Congress held a final vote on President Trump’s massive tax cuts and spending bill, also known as the “Bigger, Better, Faster” Act. The final vote results showed 218 votes in favor and 214 against, allowing the bill to pass in the House of Representatives. Following this, the bill will be sent to the White House for President Trump’s signature before being officially enacted.
According to the Republican party that proposed 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 spending. The bill plans to reduce taxes by $4 trillion over the next decade and cut at least $1.5 trillion in spending. This bill has been controversial due to its impact on federal aid reductions, long-term debt increases, and tax cuts for the wealthy and large corporations. Critics have criticized it as “redistribution for the rich” and potentially pushing the United States further down the path of fiscal instability. (Xu Tao)
Trump’s “Bigger, Better, Faster” Act tears apart America