(VOVWORLD) - US President Donald Trump on Friday signed into law his sweeping tax cut and spending package, what he’s called the “big, beautiful bill,” in a Fourth of July ceremony marking the 249th anniversary of Independence Day.
 US President Donald Trump presents a sweeping spending and tax legislation, known as the "One Big Beautiful Bill Act," after he signed it, at the White House in Washington, D.C., U.S., July 4, 2025. (Photo: REUTERS) |
The 4.5 trillion USD tax cut and spending bill is President Trump's key policy plan for his second term, fulfilling a promise from his 2024 campaign.
The signing into law of the comprehensive tax cut and spending package marked the end of a months-long process, during which both the House of Representatives and the Senate openly debated its contents.
The bill includes tax and spending cuts, ends solar tax credits, spending boosts for defense and the immigration crackdown.