The China Mail - Trump signs 'big, beautiful' bill on US Independence Day

USD -
AED 3.672501
AFN 64.50406
ALL 81.906187
AMD 374.313495
ANG 1.790148
AOA 916.999855
ARS 1366.0176
AUD 1.415779
AWG 1.8
AZN 1.698907
BAM 1.67181
BBD 2.013215
BDT 122.927663
BGN 1.66993
BHD 0.377383
BIF 2972.71076
BMD 1
BND 1.274923
BOB 6.906721
BRL 5.027397
BSD 0.999598
BTN 93.233893
BWP 13.474089
BYN 2.852527
BYR 19600
BZD 2.0103
CAD 1.380835
CDF 2299.999949
CHF 0.787865
CLF 0.022846
CLP 899.060282
CNY 6.828011
CNH 6.827905
COP 3627.85
CRC 461.844214
CUC 1
CUP 26.5
CVE 94.25366
CZK 20.79685
DJF 177.993375
DKK 6.383797
DOP 60.100695
DZD 132.181685
EGP 53.138501
ERN 15
ETB 156.846843
EUR 0.85433
FJD 2.21098
FKP 0.743222
GBP 0.743235
GEL 2.690061
GGP 0.743222
GHS 11.019934
GIP 0.743222
GMD 73.502062
GNF 8771.022545
GTQ 7.647004
GYD 209.124907
HKD 7.833097
HNL 26.550813
HRK 6.432602
HTG 130.894326
HUF 310.652504
IDR 17158.2
ILS 3.045405
IMP 0.743222
INR 93.58745
IQD 1309.461735
IRR 1316125.000391
ISK 122.509805
JEP 0.743222
JMD 157.795311
JOD 0.70897
JPY 159.657004
KES 129.47023
KGS 87.450094
KHR 4002.991773
KMF 419.999881
KPW 899.999618
KRW 1485.94969
KWD 0.30888
KYD 0.832995
KZT 475.050753
LAK 22043.380703
LBP 89510.759697
LKR 315.426862
LRD 183.917085
LSL 16.520895
LTL 2.95274
LVL 0.60489
LYD 6.350251
MAD 9.285949
MDL 17.082167
MGA 4149.161235
MKD 52.61765
MMK 2100.298181
MNT 3573.374694
MOP 8.062656
MRU 39.887167
MUR 46.560259
MVR 15.459862
MWK 1733.262101
MXN 17.36315
MYR 3.975014
MZN 63.960559
NAD 16.520895
NGN 1359.660075
NIO 36.781865
NOK 9.489303
NPR 149.174057
NZD 1.71132
OMR 0.384491
PAB 0.999594
PEN 3.389095
PGK 4.392796
PHP 60.184999
PKR 278.802778
PLN 3.62829
PYG 6408.404353
QAR 3.643995
RON 4.3494
RSD 100.264982
RUB 76.18057
RWF 1463.831606
SAR 3.753084
SBD 8.058149
SCR 13.932132
SDG 600.999945
SEK 9.232055
SGD 1.274899
SHP 0.746601
SLE 24.625003
SLL 20969.489175
SOS 571.257613
SRD 37.448961
STD 20697.981008
STN 20.942498
SVC 8.746234
SYP 110.528533
SZL 16.508601
THB 32.21799
TJS 9.475884
TMT 3.505
TND 2.916991
TOP 2.40776
TRY 44.719025
TTD 6.787905
TWD 31.73404
TZS 2594.054022
UAH 43.42568
UGX 3733.748194
UYU 40.337815
UZS 12124.372262
VES 475.837796
VND 26343
VUV 119.309373
WST 2.73449
XAF 560.706913
XAG 0.01353
XAU 0.000213
XCD 2.70255
XCG 1.801475
XDR 0.697817
XOF 560.706913
XPF 101.942515
YER 237.150369
ZAR 16.523697
ZMK 9001.197922
ZMW 19.016562
ZWL 321.999592
  • RYCEF

    -0.2700

    16.96

    -1.59%

  • CMSC

    0.0000

    22.43

    0%

  • BCE

    0.1150

    23.465

    +0.49%

  • RIO

    0.7450

    99.005

    +0.75%

  • BCC

    0.2700

    80.44

    +0.34%

  • NGG

    -1.4300

    88.86

    -1.61%

  • JRI

    -0.0780

    12.942

    -0.6%

  • RELX

    0.9400

    34.24

    +2.75%

  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSD

    0.0200

    22.65

    +0.09%

  • GSK

    0.4950

    58.705

    +0.84%

  • BTI

    -0.2800

    58.53

    -0.48%

  • BP

    0.0050

    46.445

    +0.01%

  • VOD

    -0.1200

    15.57

    -0.77%

  • AZN

    -1.8350

    202.195

    -0.91%

Trump signs 'big, beautiful' bill on US Independence Day
Trump signs 'big, beautiful' bill on US Independence Day / Photo: © POOL/AFP

Trump signs 'big, beautiful' bill on US Independence Day

US President Donald Trump signed his flagship tax and spending bill into law Friday, capping a pomp-laden White House Independence Day ceremony featuring a stealth bomber fly-by.

Text size:

"America is winning, winning, winning like never before," Trump said at the event where he signed the so-called "One Big Beautiful Bill" flanked by Republican lawmakers.

The party fell into line and pushed the bill through a reluctant Congress on Thursday, in time for Trump to sign the bill as he had hoped on the Fourth of July holiday marking America's 249th birthday.

Two B-2 bombers of the type that recently struck Iranian nuclear sites roared over the White House at the start of the ceremony, accompanied by fighter jets on their wingtips.

Pilots who carried out the bombing on Iran were among those invited to the White House event.

The passage of the unpopular bill caps two weeks of significant wins for Trump, including an Iran-Israel ceasefire that was sealed after what he called the "flawless" US air strikes on Iran.

Ever the showman, Trump melded his various victory laps into one piece of political theater at the ceremony marking 249 years of independence from Britain.

The sprawling mega-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.

Trump glossed over deep concerns from his own party and voters that it will balloon the national debt, while simultaneously gutting health and welfare support.

"The largest spending cut," Trump said with First Lady Melania Trump at his side, "and yet you won't even notice it."

- Republican misgivings -

Trump forced through the "big beautiful bill" despite deep misgivings in the Republican Party -- and the vocal opposition of his billionaire former ally, Elon Musk.

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.

The legislation is the latest in a series of big wins for Trump that also included a Supreme Court ruling last week that curbed lone federal judges from blocking his policies, and a NATO deal to increase spending.

But the bill is expected to pile an extra $3.4 trillion over a decade onto the US deficit.

At the same time it will shrink the federal food assistance program and force through the largest cuts to the Medicaid health insurance scheme for low-income Americans since its 1960s launch.

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.

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.

K.Lam--ThChM