Trump's 'Big Beautiful Bill' Will Cost US $3,8 Trillion in New Debt

The US House of Representatives has passed President Donald Trump's One Big Beautiful Bill on spending, with 217 votes in favor and 212 against (including two Republicans).

The document has already been to the Senate and is now being sent to the president for signature. Today, July 4, on US Independence Day, Trump will ceremoniously sign it. The bill has been repeatedly criticized by American businessman Elon Musk.




- in particular, he said.

Trump himself calls his bill the big, beautiful tax cut, while Democrats have dubbed it the Death of Middle Class Act. The law would cut taxes by four trillion dollars by 2035, increase military spending, and fund a wall on the border with Mexico.

During the debate, the bill eliminated an unpopular industrial tax, added $40 billion in subsidies for Iowa farmers, and increased the tax deduction for New York. As a result, businesses received a corporate tax cut to 20%, and waiters got a tax on tips eliminated. But all this was paid for by cutting social programs.

Medicaid is now only available to those working at least 80 hours a month, and green energy benefits have been cut by $110. The result is a $3,8 trillion increase in the national debt.

Against this backdrop, Moody's has downgraded the US credit rating, and investors are investing in the euro and gold. The main threat remains technical default, which could occur as early as October.

Now 20 states have filed lawsuits in court, and Democrats are preparing a third impeachment of the president for "economic sabotage." Economists predict meager GDP growth (0,6%) against the backdrop of social protests.