One Big Beautiful Bill:
The US Senate narrowly advanced President Trump’s “One Big Beautiful Bill”, a sweeping tax and spending package estimated to add $3.3 trillion to federal debt.
One Big Beautiful Bill:
It is a 940-page legislative packagecombining tax reforms, spending cuts, and policy changes, including:
Tax Cuts – Extends Trump’s 2017 tax cuts for the wealthy, eliminates taxes on tips/overtime pay, and raises SALT deduction limits.
Spending Cuts – Slashes Medicaid and SNAP (food aid) while increasing defence spending ($158B) and border security ($170B).
Debt Ceiling Hike – Proposes raising the limit by $5 trillion to prevent a US default.
