Trump signs sweeping tax and spending bill into law

July 4, 2025

President Donald Trump has signed a landmark policy bill into law at the White House, following its narrow passage through Congress. The 870-page legislation implements key parts of Trump's agenda including tax cuts, defense spending increases, and immigration enforcement measures. While the President celebrated the bill as an economic growth catalyst during a ceremony featuring military aircraft fly-bys, it has faced significant opposition from Democrats and some Republicans concerned about its impact on national debt and social programs.

Who is affected

42 million Americans who benefit from the SNAP (Supplemental Nutrition Assistance Program)
Nearly 12 million Americans who may lose Medicaid coverage over the next decade
Senior citizens who will see an end to taxes on social security
Wealthier Americans, particularly those making above $217,000, who will receive about 60% of the tax benefits
Low-income, elderly, and disabled Americans who rely on Medicaid
Workers who will no longer pay taxes on tips and overtime

What action is being taken

President Trump is signing the policy bill into law
The White House is celebrating the legislation with military aircraft fly-bys and a military picnic
Trump is promoting the bill as an economic growth stimulator
Republicans are implementing tougher work requirements for Medicaid to tackle what they describe as abuse and fraud
The White House is pursuing tax cuts to stimulate economic growth

Why it matters

The bill enacts major components of Trump's policy agenda
It changes tax structures, with benefits primarily going to wealthier Americans
Social programs like SNAP and Medicaid face significant cuts affecting millions of low-income Americans
The legislation could cause the budget deficit to rise sharply after the first year according to Congressional Budget Office analysis
Public polling shows limited support for the bill at 29% overall, though it rises to two-thirds among Republicans
The bill represents substantial changes to America's economic and social welfare systems

What's next

No explicit next steps stated in the article

Read full article from source: BBC