#OneBigBeautifulBill The US Senate approved a massive budget bill known as "one big beautiful bill".

This is reported by Bloomberg.

The document includes significant tax cuts and simultaneous increases in government spending. The vote in the Senate came after long debates, and the final result was made possible by the decisive vote of US Vice President Jay D. Vance.

Now the bill will return to the House of Representatives for a re-vote considering amendments, after which it needs to be signed by President Donald Trump.

Elon Musk, a former ally of Trump, sharply criticized the document. According to him, the passage of this law "drives the US into debt slavery" and destroys any efficiency in government management.

After the bill's passage, the Bloomberg Dollar Spot Index rose to a session high, signaling short-term investor confidence in the stability of the US currency. However, economists warn that the passage of the tax reduction package amid rising government spending could have serious fiscal consequences in the medium term.