President Donald Trump celebrated the signing of his sweeping tax and spending bill into law at the White House, marking a significant win for his administration. The bill, which passed Congress with a narrow margin, includes robust tax cuts, a boost to military funding, and controversial reductions in social welfare programs.
As Trump signed the 870-page legislation, fireworks were planned for Independence Day festivities, creating a lively atmosphere at the White House. While Trump claims these changes will spur economic growth, many Americans remain skeptical, particularly those aware of potential cuts to crucial aid programs such as Medicaid and SNAP, which assists impoverished families with food.
Despite the celebratory mood, the bill faced resistance even within Trump's Republican Party, mainly due to concerns over rising national debt and accusations that the bill disproportionately benefits the wealthy. Polling suggests only 29% of the public support the legislation, while a significant Democratic opposition remains.
As the bill includes steep Medicaid cuts and tax breaks for high earners, critics fear it will exacerbate hardship for vulnerable populations. The Congressional Budget Office predicts that drastic Medicaid changes may leave nearly 12 million Americans without health coverage within the next decade.
Trump argued that the reform package would not only cut spending but also improve life for everyday Americans, promising that benefits would be felt broadly. However, experts caution that the anticipated economic surge may not be enough to counterbalance an increasing deficit, raising concerns about future financial stability for the country. Excitement over newfound tax benefits must also contend with a public more focused on the potential repercussions of welfare cuts.
