On Friday, US President Donald Trump signed the new budget bill, during a celebration held at the White House on the occasion of Independence Day, to become the project as an effective law after the Congress approved by its two chambers.
“This is a good law,” Trump said during the signature ceremony, in reference to what he described as “the big and beautiful draft law”, in the presence of a number of Republican representatives who support the legislation.
The law is one of the most prominent taxes and spending projects in the history of the modern American administration, as it includes structural amendments to fiscal policy, and achieves a large part of President Trump’s agenda for the second presidential period, especially in the immigration and tax files.
The approval of the law came after a close vote in the House of Representatives by 218 votes compared to 214, followed by a decisive vote in the Senate, which was decided by the vice president.
The new legislation includes provisions funding the federal campaign to tighten migration control, as well as the tax cuts approved in 2017, which sparked widespread political controversy, amid warnings of a possible impact on the health insurance system, as reports expected to deprive millions of Americans of health coverage.
On the other hand, the project supporters considered that the new law represents a strong boost for the American economy, as the White House indicated in an official statement that “policies supporting growth in this historical legislation will lead to an economic boom that the Americans have not seen before”, despite the suspicion of financial reports that expected the law to lead to an increase in the American public debt by about 3.4 trillion dollars, to reach more than 36 trillion dollars.
