PANews July 5 news, according to Xinhua News Agency reports, U.S. President Trump signed the "Big and Beautiful" tax and spending bill on the afternoon of the 4th, marking the formal enactment of this controversial bill. The bill was passed in the U.S. House of Representatives on the 3rd by a narrow margin, and Trump successfully turned the signing ceremony into part of the U.S. "Independence Day" celebrations. Before the signing ceremony, Trump delivered a speech explaining again why this bill is "Big and Beautiful," and praised the efforts of Senate Majority Leader John Thune and House Speaker Mike Johnson. This bill reflects Trump's important governance agenda, which mainly includes tax cuts, reductions in spending for Medicare and nutrition assistance programs, and increases in military and border security spending. There is significant disagreement among members of both parties in Congress regarding this bill. In the House vote on the 3rd, all Democratic members and two Republican members voted against it. U.S. media believe that this bill will increase the already high federal deficit by about $3.3 trillion over the next decade, while tens of millions of Americans will lose Medicaid and food subsidies.