EconomyLens.com
No Result
View All Result
Friday, May 29, 2026
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

Bombers and a ‘beautiful bill’ — Trump celebrates US Independence Day

David Peterson by David Peterson
July 5, 2025
in Economy
Reading Time: 6 mins read
A A
0
36
SHARES
456
VIEWS
Share on FacebookShare on Twitter

US President Donald Trump bangs a gavel after signing the "Big Beautiful Bill Act" at the White House on July 4, 2025. ©AFP

Washington (AFP) – US President Donald Trump signed his flagship tax and spending bill into law Friday, capping a grandiose White House Independence Day ceremony featuring a stealth bomber fly-by.”America is winning, winning, winning like never before,” Trump said before signing the so-called “One Big Beautiful Bill” while flanked by Republican lawmakers who helped push it through Congress.Trump also played down criticism by Democrats that the unpopular legislation will slash social welfare programs, saying: “You won’t even notice it.”With First Lady Melania Trump at his side, Trump watched from the White House balcony as two B-2 bombers — the same type that recently struck Iranian nuclear sites — roared overhead, accompanied by F-35 and F-22 fighter jets.The 79-year-old’s victory lap came a day after Republicans fell into line and passed the sprawling mega-bill, allowing him to sign it as he had hoped on the Fourth of July holiday.The bill honors many of Trump’s campaign promises: extending tax cuts from his first term, boosting military spending and providing massive new funding for Trump’s migrant deportation drive.- ‘Never been anything like it’ -The legislation’s signing caps two weeks of significant wins for Trump that have seen him tighten his grip on power and his party alike.The successes include the recent Iran-Israel ceasefire that was sealed after what he called the “flawless” US air strikes on Iran.Pilots who carried out the bombing on Iran were among those invited to the White House event, which included a picnic for military families on the South Lawn.”The last two weeks, there has never been anything like it, as far as winning,” said Trump.Trump had however forced through the tax bill despite deep misgivings in the Republican Party that it would balloon the national debt.The legislation is expected to pile an extra $3.4 trillion over a decade onto the US deficit.It squeezed past a final vote in the House of Representatives 218-214 after Republican Speaker Mike Johnson worked through the night to corral the final group of dissenters.Trump thanked Johnson at the White House event, saying: “What a job.”- ‘Horrible day’ -Trump’s billionaire former ally Elon Musk was among the most vocal critics, and he has pledged to set up a new political party to oppose Republicans who backed the bill. Democrats and many voters have meanwhile expressed concerns that the “big beatuiful bill” will gut health and welfare support.The bill will force through the largest cuts to the Medicaid health insurance program for low-income Americans since its 1960s launch, while also shrinking federal food assistance programs. Up to 17 million people could lose their insurance coverage under the bill, according to some estimates.Scores of rural hospitals are expected to close as a result.But Trump played down the concerns.”They’ve developed a standard line, and we can’t let them get away with it.’Oh, it’s dangerous.Oh, everybody’s going to die.’ It’s actually just the opposite,” said Trump.Democrats hope public opposition to the bill will help them flip the House in the 2026 midterm election, pointing to data showing that it represents a huge redistribution of wealth from the poorest Americans to the richest.People attending the Fourth of July parade in Washington on Saturday had mixed feelings.”Yesterday was a horrible day, today is the best part of America,” said Elisabeth Hubir, 70.

© 2024 AFP

Related

Trump says making final decision on Iran deal

Vance says progress made as US-Iran deal awaits Trump green light

EU looks to bolster defences as China threatens key sectors

Canada PM backs ‘fortress North America’ ahead of US trade talks

Top EU economies vow to speed up financial integration

Tags: Donald Trumpmilitarytax cuts
Share14Tweet9Share3Pin3Send
Previous Post

BRICS nations to denounce Trump tariffs

Next Post

Eight OPEC+ alliance members move toward output hike at meeting

David Peterson

David Peterson

Related Posts

Economy

UK risks a ‘lost generation’ of jobless young people

May 28, 2026
Economy

‘Immense’ leverage: why AI chip workers are demanding more

May 28, 2026
Economy

New Zealand boosts defence spending in face of ‘adverse’ security environment

May 27, 2026
Economy

Germany warns on trade imbalance as economy minister visits China

May 28, 2026
Economy

Frugal and more online: smarter spenders rewrite luxury’s China dream

May 27, 2026
Economy

‘My job is going’: UK workers squeezed out by AI

May 26, 2026
Next Post

Eight OPEC+ alliance members move toward output hike at meeting

China's first Legoland opens to tourists in Shanghai

Turkey opens Spotify probe after 'provocative playlist' complaint

BRICS nations voice 'serious concerns' over Trump tariffs

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

97

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Trump’s face could appear on US $250 bill

May 29, 2026

Trump says making final decision on Iran deal

May 29, 2026

Iran says no trust in US ‘words’, waiting for Washington to act

May 29, 2026

Oil falls, stocks mixed on US-Iran truce prospects

May 29, 2026
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.