The Republican American House of Representatives was closely passed by a large law on tax and spending, which would mention most of the political agenda of President Donald Trump and obden the country of trillions for debt.
The bill would fulfill many duties of Trump’s populist campaign and provide new tax relief for tips and car loans and strengthened the army and border recovery. According to the Nonstranine Congress Budget Office, he reported about the debt of the federal government of approximately $ 3.8 trillion into a debt of $ 36.2 trillion in the next decade.
The bill was approved by voting on the edge of the knife, while 215 representatives voted for this and 214 approved the vote against it.
All Democrats and two Republicans of the Chamber voted against a bill that Trump called “One, Big, Beautiful Bill”. The Third Republican voted “present”.
The bill was approved at a time when concerns for US debts are growing, which, according to Reuters, reached 124 % of its GDP. The vote came after a two -day debate on the marathon among lawmakers.
However, before Donald Trump can sign the law, the package must also obtain approval in the Senate by the Republican -controlled.
What will the US tax and expenditure law do?
Legislation of 1,000 pages would expand the corporate and individual tax cuts in 2017 during the first term of Trump, abolished many incentives of green energy sold by democratic former President Joe Biden and tightened the ability to health and food programs for the poor. It would also finance Trump’s interventions against immigration, have added tens of thousands of border guards and created the ability to deport up to 1 million people a year.
Growing debt concerns in the US
The bill was approved despite economic concerns in the US, with the debt rising through the roof.
According to Reuters, the government recorded the budget deficits of this century every year because the Republican and democratic administration failed to bring expenses in accordance with income.
However, Republican supporters of the bill claimed that the inability to go through it would increase taxes for many US households.
They also plan to use a bill to increase the debt ceiling of the Federal Government, the Congress step must take the summer or the risks that cause devastating failures.
(Tagstotranslate) Republican American house
