logo
US Congress races to meet Trump's ‘big beautiful Bill' deadline

US Congress races to meet Trump's ‘big beautiful Bill' deadline

Irish Timesa day ago

The Republican-controlled
US Senate
advanced
President Donald Trump's
package of tax breaks, spending cuts and increased deportation money on Saturday, with more work ahead as the
US Congress
races to meet his July 4th deadline for passage.
By a 51-49 tally, and with
vice-president JD Vance
at Capitol Hill to break a potential tie, the senate cleared a key procedural step on Saturday as midnight approached.
Voting had come to a standstill, dragging on for more than three hours, with holdout senators huddling for negotiations and taking private meetings off the Senate floor.
In the end, two Republicans opposed the motion to move ahead on Mr Trump's signature domestic policy plan, joining all 47 Democrats.
READ MORE
'Tonight we saw a GREAT VICTORY in the Senate,' said Mr Trump in a social media post afterwards.
Republicans are using their majorities in congress to push aside Democratic opposition, but they have run into several political and policy setbacks.
Not all Republicans are on board with proposals to reduce spending on Medicaid, food stamps and other programmes as a way to help cover the cost of extending some $3.8 trillion in Trump tax breaks.
Mr Trump had threatened to campaign against one Republican, Senator Thom Tillis, who had announced he could not support the Bill because of Medicaid cuts that he worried would leave many without healthcare in his state.
'Daddy' Trump meets Nato, while defence, trade and Gaza dominate EU summit
Listen |
44:28
A fresh analysis from the non-partisan congressional budget office indicated that the senate version of the Bill would increase by 11.8 million the number of people without health insurance in 2034.
Mr Tillis and Senator Rand Paul voted no.
Renewed pressure to oppose the 940-page Bill came from billionaire entrepreneur Elon Musk, who called it 'utterly insane and destructive'.
If senators can pass the Bill, it would return to the House for a final round of votes before it could reach the White House.
With the narrow Republican majorities in congress and the senate, leaders need almost every politician on board.
Senate Democratic leader Chuck Schumer of New York said Republicans released the Bill 'in the dead of night' on Friday and were rushing through before the public knew fully what was in it.
[
Trump 'terminating' US-Canada trade talks over 'egregious' tax on tech firms
Opens in new window
]
He forced a full reading of the text that began late on Saturday and continued into the following morning.
At its core, the legislation would make permanent many of the tax breaks from Mr Trump's first term that would otherwise expire by year's end if congress fails to act, resulting in a potential tax increase on Americans.
The Bill would add new breaks, including no taxes on tips, and commit $350 billion (€300 billion) to national security, including for Mr Trump's mass deportation agenda.
But the cutbacks to Medicaid, food stamps and green energy investments are also causing dissent within Republican ranks.
Senator Ron Wyden said the environmental rollbacks would amount to a 'death sentence' for America's wind and solar industries. – AP

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US shoppers ditch Shein and Temu as Trump closes tax loophole
US shoppers ditch Shein and Temu as Trump closes tax loophole

Irish Times

timean hour ago

  • Irish Times

US shoppers ditch Shein and Temu as Trump closes tax loophole

Online retailers Temu and Shein have seen their once rapid user growth go into reverse in the US after US President Donald Trump imposed steep tariffs on Chinese goods and closed a tax loophole that allowed them to undercut rivals. Temu's monthly active users, a measure of engagement on its app, plunged 51 per cent to 40.2 million in the US between March and June, according to data from market intelligence company Sensor Tower. The number of US shoppers using Shein's app also shrank over the same period, albeit not as drastically. The fast-fashion retailer saw a 12 per cent drop in monthly active users to 41.4 million, according to Sensor Tower. Shein and Temu pioneered a new model of ecommerce that has disrupted the retail industry across the western world over the past five years. READ MORE They both escaped import duties by sending Chinese-made goods directly to consumers' homes as individual packages. Cheap prices and a social media advertising blitz enabled Shein and Temu to amass a vast customer base in a matter of months. Shein sought to capitalise on its growth with a stock market float but struggled to win the backing of regulators for a listing in the US and the UK. [ EU to impose €2 tax on low-cost items in blow to Temu and Shein Opens in new window ] Reuters reported last week that Shein imminently plans to file for an initial public offering (IPO) in Hong Kong. Shein declined to comment on its listing plans or business performance. On May 2nd, Mr Trump scrapped the low value goods exemption in the US, known as 'de minimis', for parcels arriving from China and Hong Kong, calling it 'a big scam going on against our country'. The president replaced the exemption, which allowed parcels worth less than $800 (€683) to enter the US duty free, with a 90 per cent tariff. That was subsequently reduced to as little as 30 per cent as part of a wider de-escalation of trade tensions with China. IATA Director General Willie Walsh on airline profits, air fares and why the Dublin Airport passenger cap makes Ireland a laughing stock Listen | 35:56 In the aftermath of Mr Trump's policy changes Temu overhauled its business model in the US. Instead of shipping products from factories in China it began shipping orders from sellers based in the US. The drop in usage of Temu and Shein may also be tied to a decline in each company's advertising spend. Over the past three months Temu's US ad spending fell 87 per cent and Shein's dropped 69 per cent compared with the same period last year, according to Sensor Tower. Last year, they ranked as the 10th and 11th-largest digital advertisers in the US – they now rank outside the top 60, the researcher said. As the environment in the US has become more hostile, Temu and Shein have switched their focus to Europe. The number of people using Temu's app in June jumped 76 per cent in France, 71 per cent in Spain and 64 per cent in Germany, compared with the same period last year, according to Sensor Tower. Meanwhile, Shein's monthly active users rose between 13 per cent and 20 per cent in the UK, Germany and France. But growth in Europe could also be at risk as the EU plans to levy a €2 fee on small packages entering the bloc, and the UK government is considering ending its own import duty exemption scheme. Temu declined to comment on business metrics or ad spending, but said its focus was on 'working with merchants across regions'. 'Since fully opening our marketplace to local sellers in over 20 markets ... we've been helping them expand their reach and grow their businesses.' – Copyright The Financial Times Limited 2025 .

UK economy grew at fastest pace in a year in Q1
UK economy grew at fastest pace in a year in Q1

RTÉ News​

timean hour ago

  • RTÉ News​

UK economy grew at fastest pace in a year in Q1

Britain's economy grew at its fastest pace in a year in the first three months of 2025 as homebuyers rushed to beat a deadline on property purchases and manufacturers sped up output ahead of US President Donald Trump's higher import tariffs. In a bounce that is not expected to be maintained in the rest of 2025, output grew by 0.7%, confirming a preliminary estimate and the fastest quarterly pace since the first three months of 2024, the Office for National Statistics said. Growth in March alone was revised up to 0.4% from a previous reading of 0.2%, the ONS said. The jump in economic output in early 2025 contrasted with growth of just 0.1% in the fourth quarter of 2024 and data has already shown that gross domestic product fell by 0.3% in April from March although the drop was exacerbated by one-off factors. The Bank of England has said it expects economic growth of about 0.25% in the second quarter of this year. UK finance minister Rachel Reeves is hoping for a pickup to reduce the pressure on her to raise taxes again later this year to remain on course to meet her budget targets. Thomas Pugh, chief economist at audit firm RSM UK, said weak consumer spending and hiring figures in recent weeks were likely to be a one-off reaction to a tax increase on employers and Trump's tariffs, many of which have been suspended. "Now that uncertainty has started to recede, consumer confidence is rebounding, and business surveys point to the worst of the labour market pain being behind us," Pugh said. A survey published earlier today showed confidence levels among British employers hit a fresh nine-year high as they became more optimistic about the outlook for the economy. The Bank of England is expected to cut interest rates twice more over the remainder of 2025 which is likely to support household spending. However, a renewed rise in energy prices in the event of further conflict in the Middle East could add to the strains on the already slow-growing economy. Today's data from the ONS showed household expenditure grew by 0.4% in the January-to-March period, revised up from an initial estimate of an increase of 0.2%, driven by housing and household goods and services as well as transport. Britain's property market saw a sharp increase in activity in the run-up to the March 31 expiry of a tax break for some homebuyers. Households dipped into their reserves to help fund their spending with the saving ratio falling for the first time in two years although at 10.9% it remained strong. Manufacturing grew by 1.1% in the first quarter - ahead of the increase in US import tariffs in April - compared with the last three months of 2024. The ONS also said Britain's current account deficit grew to a bigger-than-expected £23.46 billion in the January to March period from just over £21 billion in the last three months of 2024.

Israel steps up Gaza bombardment ahead of White House talks on ceasefire
Israel steps up Gaza bombardment ahead of White House talks on ceasefire

Irish Times

timean hour ago

  • Irish Times

Israel steps up Gaza bombardment ahead of White House talks on ceasefire

Palestinians in northern Gaza reported one of the worst nights of Israeli bombardment in weeks after the military issued mass evacuation orders on Monday, while Israeli officials were due in Washington for a new ceasefire push by the Trump administration. A day after US president Donald Trump urged an end to the 20-month-old war , a confidant of Israeli prime minister Binyamin Netanyahu was expected at the White House for talks on a Gaza ceasefire, Iran , and possible wider regional diplomatic deals. But on the ground in the Palestinian enclave, there was no sign of a let up in the fighting. 'Explosions never stopped; they bombed schools and homes. It felt like earthquakes,' said Salah (60), a father of five children, from Gaza City. 'In the news we hear a ceasefire is near, on the ground we see death and we hear explosions.' READ MORE Israeli tanks pushed into the eastern areas of Zeitoun suburb in Gaza City and shelled several areas in the north, while aircraft bombed at least four schools after ordering hundreds of families sheltering inside to leave, residents said. [ Israel breached human rights obligations during Gaza war, EU review finds Opens in new window ] At least 25 people were killed in Israeli strikes on Monday, health authorities said, including 10 people in Zeitoun. There was no immediate comment from the Israeli military, which says Palestinian militants embed among civilians. The militant groups deny this. The heavy bombardment followed new evacuation orders issued to large areas in the north, where Israeli forces had operated before and left behind wide-scale destruction. The military ordered people there to head south, saying it planned to fight Hamas militants operating in northern Gaza, including in the heart of Gaza City. A day after Mr Trump called to 'Make the deal in Gaza, get the hostages back', Israel's strategic affairs minister Ron Dermer, a confidant of Netanyahu's, was expected on Monday at the White House for talks on Iran and Gaza, an Israeli official said. In Israel , Mr Netanyahu's security cabinet was expected to convene to discuss the next steps in Gaza. On Friday, Israel's military chief said the present ground operation was close to having achieved its goals, and on Sunday, Mr Netanyahu said new opportunities had opened up for recovering the hostages, 20 of whom are believed to still be alive. [ EU's splintered stance on Gaza crisis a 'huge stain' on bloc, says Taoiseach Opens in new window ] Palestinian and Egyptian sources with knowledge of the latest ceasefire efforts said mediators Qatar and Egypt have stepped up their contacts with the two warring sides, but that no date has been set yet for a new round of truce talks. A Hamas official said progress depends on Israel changing its position and agreeing to end the war and withdraw from Gaza. Israel says it can end the war only when Hamas is disarmed and dismantled. Hamas refuses to lay down its arms. The war began when Hamas fighters stormed into Israel on October 7th, 2023, killed 1,200 people, most of them civilians, and took 251 hostages back to Gaza in a surprise attack that proved to be the deadliest day in Israel's history. Israel's subsequent military assault has killed more than 56,000 Palestinians, most of them civilians, according to the Gaza health ministry, has displaced almost the entire 2.3 million population and plunged the enclave into a humanitarian crisis. More than 80 per cent of the territory is now an Israeli-militarised zone or under displacement orders, according to the United Nations . – Reuters

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store