The United States Congress on Thursday passed President Donald Trump’s $4.5 trillion package of tax cuts and spending reductions, officially titled the “One, Big, Beautiful Bill”.

The Republican-led House of Representatives narrowly approved the legislation by a 218–214 vote, sending it to Trump for his signature. The bill had already passed the Senate earlier in the week and returned to the lower chamber for a final vote on the revised version.

The bill entails tax cuts of about $4.5 trillion that Trump had enacted during his first term, and additional tax breaks, AP reported. However, the reduction in tax revenue is to be offset by cutbacks in social safety net programmes, such as the Medicaid health insurance programme and food stamps.

The bill also includes an investment of about $350 billion in national security and the deportation of undocumented migrants.

The legislation is expected to add $3.4 trillion to the United States’ deficits in the course of a decade, AFP reported.

To fund increases in military and border security spending, the bill also ends federal subsidies for clean energy and electric vehicles. This move was reportedly one of the reasons for the falling-out between Trump and billionaire businessman Elon Musk, his former supporter.

After the bill was passed, Trump said in a social media post that on July 4, the US will not only celebrate Independence Day but also the country’s “new golden age”.

“The people of the United States of America will be richer, safer and prouder than ever before,” he said.

In a separate post, Trump had called the “One, Big, Beautiful Bill” “one of the most consequential bills ever”.
He added: “What a night it was…The USA is the ‘HOTTEST’ country in the world, by far!!!”

Democrats, however, described the bill as “trickle down cruelty”, claiming that it amounted to handing out tax giveaways to the rich, while leaving poorer Americans more vulnerable, AP reported.

“I never thought that I’d be on the House floor saying that this is a crime scene,” Democrat leader Hakeem Jeffries said. “It’s a crime scene, going after the health, and the safety, and the well-being of the American people.”