Trump’s Sweeping Tax and Spending Bill Passes Congress

President Donald Trump’s 'Big Beautiful Bill,' a sweeping tax and spending measure, has passed Congress by a narrow margin and is set to be signed into law on July 4. The legislation makes permanent Trump-era tax cuts, extends major tax breaks for the wealthy, and enacts deep cuts to Medicaid and food stamps, raising concerns about millions potentially losing healthcare and food assistance. New provisions include fees on commercial space launches, regulatory changes for professional gambling, and the move of the Space Shuttle Discovery to Houston. The bill raises the national debt ceiling by up to $5.5 trillion and rolls back green energy incentives. Democrats unanimously opposed the bill, and some Republicans and economic analysts have criticized it for increasing inequality and threatening rural hospitals. Vice President JD Vance cast the tie-breaking vote in the Senate, and the contentious debate has intensified partisan divisions.