US Senate Passes Trump's Tax Bill
Analysis based on 10 articles · First reported Jul 01, 2025 · Last updated Jul 01, 2025
The passage of the 'One Big Beautiful Bill Act' by the United States is expected to have a mixed impact on markets. While the $4.5 trillion in tax cuts could stimulate certain sectors, the $1.2 trillion in cuts to United States — Medicaid and food stamps, along with the rollback of green energy tax credits, will negatively affect healthcare providers, renewable energy companies, and potentially increase social welfare costs. The projected $3.3 trillion increase in the national deficit by the United States — Congressional Budget Office could also raise concerns about fiscal stability.
The United States narrowly passed President Donald Trump's 'One Big Beautiful Bill Act' on July 1, 2025, with Vice President JD Vance casting the tie-breaking vote. The bill, a major legislative priority for Donald Trump and the United States — Republican Party (United States), includes $4.5 trillion in tax cuts, making permanent Donald Trump's 2017 rates and adding new ones like no taxes on tips. It also imposes $1.2 trillion in cuts, primarily to United States — Medicaid and food stamps, by implementing work requirements and altering federal reimbursements to states. Additionally, the package rolls back billions in green energy tax credits and provides a $350 billion infusion for border and national security. The United States — Congressional Budget Office projected that the bill would lead to 11.8 million more uninsured Americans by 2034 and increase the national deficit by $3.3 trillion over a decade. The passage was contentious, with three Republican senators—Thom Tillis, Susan Collins, and Rand Paul—joining all Democrats in opposition, citing concerns over United States — Medicaid cuts and the $5 trillion debt limit increase. The bill now returns to the United States — United States House of Representatives for reconciliation, where Speaker Mike Johnson had previously warned against significant changes.
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