US House Passes Trump’s Signature Tax Bill

US House Passes Trump’s Signature Tax Bill
Category: World, 2025-05-22 10:57

The US House of Representatives has approved President Donald Trump's major tax reform bill by a narrow margin, following negotiations among Republican lawmakers. The legislation aims to significantly reduce taxes, cut social spending, and is expected to increase the federal deficit.

On [date not specified], the United States House of Representatives passed a major tax reform bill proposed by President Donald Trump. The bill was approved by a single vote, highlighting divisions and negotiations within the Republican Party. The legislation is designed to lower taxes for individuals and corporations, reduce funding for certain social programs, and is projected to increase the federal government's debt. The passage of the bill marks a significant legislative achievement for the Trump administration and is expected to have broad implications for the US economy, government spending, and fiscal policy. The bill will now proceed to the Senate for further consideration. The measure has been a central part of President Trump's economic agenda, aiming to stimulate economic growth through tax cuts, while critics have raised concerns about the potential impact on social services and the federal deficit.
Source: Financial Times
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