The U.S. House of Representatives has officially passed President Donald Trump’s ambitious legislative package known as the “One Big Beautiful Law.” This sweeping proposal combines several of Trump’s key priorities — from permanent tax cuts to increased border security — and is aimed at fulfilling long-standing Republican policy goals.

✅ What Does the Bill Include?

🔹 Permanently enshrining Trump’s 2017 tax cuts

🔹 Eliminating income tax on tips and overtime pay

🔹 Increasing funding for immigration control and building the border wall

🔹 Rolling back climate incentives from the Inflation Reduction Act

Trump called the bill a turning point for the country, claiming it would “get America back on its feet.” According to him, the legislation will revitalize the economy, strengthen national security, and unleash American energy.

🗳 The Vote in Congress

The bill passed the House on May 22 by a narrow margin of 218 to 214. Only two Republicans opposed it — Thomas Massie, a fiscal conservative from Kentucky, and Brian Fitzpatrick, a known Trump critic. After adjustments were made in the Senate to ensure a simple majority, the bill was sent back to the House for a final vote. It is now awaiting Trump’s signature, scheduled for Friday at midnight, according to the White House.

📉 Economic Impact: Boon or Burden?

Bernard Yaros, lead U.S. economist at Oxford Economics, predicts the bill will boost consumer spending in the short term, especially by cutting taxes on tips, overtime, car loan interest, and expanding state and local deductions. However, he warns that in the long term, these individual tax cuts will push prices higher and bring only limited GDP growth — about 0.1% by 2030.

The International Monetary Fund (IMF) also raised concerns. Spokeswoman Julie Kozack said the bill runs counter to medium-term debt reduction goals and could make it harder for the U.S. to manage its budget. According to the Congressional Budget Office, the bill could add $3.3 trillion to the deficit over the next several years.

🧾 Pushback from Small Business Advocates

The Main Street Alliance, which represents over 30,000 small businesses in the U.S., criticized the bill, calling it a “big, ugly law” that favors billionaires and monopolies at the expense of working families. “This legislation abandons the promise of freedom and fairness,” the group stated in a public response.

📌 In Summary

Trump’s "Big Beautiful Law" is a bold legislative move with the potential to jumpstart the U.S. economy — at least in the near term. But its long-term effects remain controversial, especially as deficits rise and social safety net programs are reduced. While the White House celebrates a political win, economists and voters are still weighing the consequences.


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