The budget, which is advertised by Trump as “Big Beautiful Bill” (“Big Beautiful Law”), is the most important law of his second term. The right -wing populist wants to implement central election promises such as massive tax cuts and more money for border protection and defense. The law is controversial primarily because of the intended cuts in social benefits and a feared record increase in state debt.
When signing the law, Trump was surrounded by numerous congress members of his Republican Party in the White House. After a long struggle, the law had also been enforced against considerable resistance in the Republican ranks.
It was only on Thursday that it took the last hurdle in the congress, so that the president – as requested by him – was able to sign the law during the celebrations on the 249th Independence Day of the United States. Trump used a felt pen.
“We enter the golden age of America,” said the president during the ceremony. He has repeatedly used the slogan of the “Golden Age” since he took office in January.
The legislative package extends tax relief from Trump’s first term (2017 to 2021) of $ 4.5 trillion (around 3.8 trillion euros). In addition, taxes are deleted on drinking money and overtime and additional billions of billions for defense as well as border protection and deportation of migrants are released.
For counter -financing, new debts as well as cuts in the state health insurance Medicaid are intended for low -income citizens. Trump’s predecessor Joe Biden from the Democrats called the law “not only ruthlessly, but cruel”.
According to estimates from the congress, around twelve million US citizens are likely to lose their health insurance. The Democrats even assume more than 17 million. It is also feared that numerous hospitals in rural areas have to close as a result of the cuts.
Trump rejected these objections and fears as unjustified. The critics would say that the law was “dangerous” and “everyone will die”. But “the opposite” is the case, he said on Friday.
The law was controversial among the Republicans because of the feared massive increase in government debt. According to congress information, the additional expenditure provided for in the law alone is a new record according to the congress information within ten years of $ 3.4 trillion (just under 2.9 trillion euros). According to the Ministry of Finance, the US debt burden is already 123 percent of gross domestic product (GDP) – around twice as high as Germany’s.
The overflight of the two B2 bombers over the White House was observed by Trump together with his wife Melania from the balcony of the presidential seat. The two tarpaulin bombers were accompanied by F-35 and F-22 fighter aircraft. The pilots, who had controlled the tarnish caps in the attacks in Iran, were invited to the ceremony in the White House.
The celebrations in Washington on Independence Day ended in the evening with the traditional fireworks on the National Mall, the green area lined with monuments and museums in the heart of the US capital.
