Trump Signs Tax Cuts Bill Increasing US Debt Outlook

President Donald Trump is set to sign the "big beautiful bill," a significant piece of legislation reflecting his key policy priorities, after its passage through Congress. The bill's advancement comes at a time when the United States faces a fiscal challenge, with debt servicing costs surpassing defense spending for the first time in nearly a century, a development highlighted by historian Sir Niall Ferguson who warns this trend threatens the country's global military dominance. This legislative victory follows a tumultuous period in which Trump has taken decisive actions including military strikes, diplomatic efforts to broker ceasefires, and major Supreme Court wins, underscoring his strong influence over both the Republican Party and national policy. Despite opposition from Democrats, including prolonged floor speeches aimed at blocking the bill, Trump secured swift passage of the legislation, which among other measures, makes permanent the 2017 tax cuts. This success not only marks a domestic policy win for Trump but also signals his continued political resilience and dominance as he prepares for another presidential campaign. The bill's signing on Independence Day is symbolically significant, reinforcing Trump's image as a formidable political force.