Odaily Planet Daily News: On July 4th local time (July 5th Beijing time), U.S. President Trump signed the "Big and Beautiful" tax and spending bill into law. The U.S. House of Representatives passed the "Big and Beautiful" bill promoted by President Trump with a vote of 218 in favor and 214 against on the afternoon of July 3rd. The bill has been controversial due to cuts in federal aid, increased long-term debt, and tax cuts for the wealthy and large corporations. Two Republican representatives voted against the bill that day. The bill was passed by the Senate on July 1st. (CCTV News)