Trump Approves Sweeping $3.4 trillion budget bill, calling it ‘Big and Beautiful’

As a milestone of his second term, Trump signed a massive $3.4 trillion budget package into law. Passed right before the Independence Day deadline, the bill fulfills some of the critical 2024 campaign pledges, like tax relief, immigration enforcement, and federal program cuts.

ContentsRepublican unity pushes the bill through CongressCuts to federal programs spark criticismTax cuts and defense spending dominate the packagePresident Donald Trump signed the act into law during an event for military families on July 4 of 2018, at the White House. The event featured Trump’s speech, a flyby of B-2 bombers, and the presence of leading Republicans, including Speaker Mike Johnson and Majority Leader Steve Scalise. Trump referred to the bill as big and beautifu,l saying that the bill is the hallmark of his economic policy and is a stark reminder of the ability to fulfill the promises he made during the campaign season.

Republican unity pushes the bill through Congress

The act was passed on narrow margins in both houses and with the vehement opposition of the Democrats. The White House had decided to pass it successfully, and July 4 was the day of the final approval. Trump personally lobbied the key lawmakers to get approval. The heads of the Republicans acted hastily in the past few days to pass the bill before the deadline, citing its significance to the GOP board of the agenda before the election.

Although Trump and his allies rejoiced at the package, it received an outcry immediately. The GOP senators indicated the fear of how the voters would react, especially those who were relying on federal assistance. Advocacy groups and fiscal hawks were protesting heavy budget reductions, including those in health care and nutrition services.

## Cuts to federal programs spark criticism

According to the Congressional Budget Office, 11.8 million Americans stand to lose their Medicaid coverage following the new rules. The law brings about work mandates, limit,s and cost contributions that will more likely have the most prominent effect on low-income groups. Funding of hospitals, especially those in rural communities, is also likely to decrease by a large margin. There is also increased eligibility and enforcement standards on food aid programs.

Democrats have vowed to wage a fierce campaign against the law, positioning it as disastrous to the weaker society. These safety-net service reductions are the most unpopular elements of the bill, with low poll results on the controversial aspects of the bill.

Tax cuts and defense spending dominate the package

It contains 4.5 trillion dollars, which is worth tax cuts expanding those Trump signed into law in 2017 and providing new exemptions to tipped employees, parents, and seniors. The cap on state and local tax deduction will be increased to $40000 over a five-year interval. As a quid pro quo, subsidies available to renewable energy producers are also drastically decreased, and subsidies available to electric car owners are also strongly cut. Funding of military and immigration enforcement is boosted to a great extent. Trump highlighted that the bill represents how strong it is and how ambitious it is as far as the economy is concerne,d and the bill will bring about a rocketship economy.