Foresight News reports that according to CCTV News, U.S. President Trump signed the 'Big and Beautiful' tax and spending bill into law on July 4th local time. The U.S. House of Representatives passed the 'Big and Beautiful' bill, pushed by President Trump, with a vote of 218 in favor and 214 against on the afternoon of the 3rd. The bill has been controversial due to cuts in federal assistance, increasing long-term debt, and tax cuts for the wealthy and large corporations.