After a whole night of negotiations and the intervention of Donald Trump, the Republican Party finds the unit and votes in favor of the “One Big Beautiful Bill”. Here’s what it foresees.
After an extensive marathon in the American room of representatives, which began on Wednesday evening and ended a little while ago, the “One Big Beautiful Bill”, The tax law proposed by the American President Donald Trumphas finally been approved; 218 the favorable and 214 against, including 2 republicans. After exhausting negotiations within the Republican Party, lasting hours, the leader of the Democrats in the low chamber of the congress, Hakeem Jeffrieshe held a speech of almost 9 hours to further slow down the works, obtaining among other things the record of “longest speech of the modern era”, previously held by the republican Mike McCarthy. Now you need nothing but Trump’s signature to make the One Big Beautiful Bill executive
The contents of the One Big Beautiful Bill
The One Big Beautiful Bill represents a powerful package of laws that merges Structural tax cuts and large investments in the sectors hi-techfinanced in part with spending reductions in social programs. From a tax point of view, the bill permanently stabilizes the rates of 2017, eliminates taxes on tips and extraordinary and allows the deductibility of interest on car loans.
The “State and Local Tax Deduction” is also extended, or the deduction of state and local taxes with a federal taxable scaglion, with a new maximum roof of 40,000 dollars. This measure benefits above all of taxpayers in high taxation states, such as California, New York or New Jersey. Incentives for family savings accounts are also introduced for each newborn and allocations for research and development.
On the expenditure front, the law provides for an increase in 150 billion for the defensefunds for drones, cybersecurity and artificial intelligence. On the theme of immigration, the provision allocates $ 170 billion, of which over 46.5 billion intended for the construction of new strokes of the wall along the border with Mexicoincluding river walls, double secondary fences and barriers for vehicles. To this imposing work is added a loan of about 45 billion to increase the capacity for detention, with the aim of hosting up to 100,000 people per day in the structures of the Immigration and Customs Enforcement.
Tax cuts and expenses in defense e hi-tech They are partly financed by some drastic cuts: The Budget of Medicaid (state-of-the-federal health public program) and Snap (the wider federal federal food assistance program in the United States) is reduced with new working conditions. Incentives for clean energy deriving from the Inflation Reduction Act and imposed cuts to university support are also demolished.
The long approval process
The approval process has been long and troubled. In fact, it was necessary to overcome the divisions within the Republican party. The main reason is that the law again raises the roof of the American public debt (now to 124% of GDP and constantly increasing), adding deficit estimates between 3 and 3.3 trillion in the next ten years According to the estimates of the Congressal Budget Office.
The proposal had passed two restored votes, in June in the Chamber for 215–214 and on July 1st in the Senate with 51–50 thanks to the decisive vote of the vice -president JD Vance. After being amended, the law returned to Congress to receive the final approval. At the opening of the procedural votes for the final approval, Wednesday evening, 5 Republicans had voted against Big Beautiful Bill2 in more than the 3 necessary to make the law are raised, the congress speaker, Mike Johnson, then held the voting procedures open for more than 7 hours, beating the previous record of the Biden era.
However, it turned out to be a winner, given that during the night meetings were held behind closed doors in Capitol Hill and the White House, following which republican legislators passed the last procedural obstacle necessary to start the debate on the bill with a vote 219-213, around 3:30 in the morning.
They were intense moments for Trump, who thundered from social media: «For the Republicans, this should be an easy vote for yes. RIDICULOUS!”. After the positive vote, however the president declared: «What a great evening was. One of the most important laws ever. The United States are by far the “hottest” country in the world! ».
But if Donald Trump rejoices for the approval of the one Big Beautiful Bill, the billionaire as well as the former head of the doge will not be happy, instead Elon Muskwhose SCARZI with the President They began precisely because of the law approved today.
