logo
US Senate approves Trump's 'One Big Beautiful Bill'

US Senate approves Trump's 'One Big Beautiful Bill'

MOSCOW: The US Senate has approved President Donald Trump's "One Big Beautiful Bill" by a majority vote, reported Sputnik/RIA Novosti citing a NBC News report.
The lower house of the US Congress in May passed a bill promoted by Trump that cuts federal spending but simultaneously provides significant tax breaks.
As a result, according to the Congressional Budget Office, both the budget deficit and the national debt will grow.
It is noted that 51 people voted for the bill, 49 voted against it.
The day before, US billionaire entrepreneur Elon Musk criticised the latest version of the bill on cutting government spending, saying that the document could destroy millions of jobs in the United States.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump metal tariffs wreak havoc on US factory
Trump metal tariffs wreak havoc on US factory

Free Malaysia Today

time35 minutes ago

  • Free Malaysia Today

Trump metal tariffs wreak havoc on US factory

US steel manufacturers expect to raise prices by more than 20%. (EPA Images pic) BELCAMP : In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape – but tempers are also rising as their manufacturer grapples with president Donald Trump's steep steel tariffs. At Independent Can's factory in Belcamp, Maryland, northeast of Baltimore, CEO Rick Huether recounts how he started working at his family's business at age 14. Huether, now 73, says he is determined to keep his manufacturing company afloat for generations to come. But Trump's tariffs are complicating this task. 'We're living in chaos right now,' he told AFP. Since returning to the presidency in January, Trump imposed tariffs of 25% on imported steel and aluminium – and then doubled the rate to 50%. This has weighed on operations at Independent Can, and Huether expects he eventually will have to raise prices. With the steady beat of presses, steel plates that have been coated with tin – to prevent corrosion – are turned into containers for cookies, dried fruit, coffee and milk powder at Huether's factory. But there is not enough of such American-made tinplate for companies like his. 'In the US we can only make about 25% of the tinplate that's required to do what we do,' in addition to what other manufacturers need, Huether said. 'Those all require us to buy in the neighbourhood of 70% of our steel outside of the US,' he added. While Huether is a proponent of growing the US manufacturing base, saying globalisation has 'gone almost a little bit too far', he expressed concern about Trump's methods. Trump has announced a stream of major tariffs only to later back off parts of them or postpone them and also imposed duties on items the country does not produce. For now, Independent Can – which employs nearly 400 people at four sites – is ruling out any layoffs despite the current upheaval. But Huether said one of the company's plants in Iowa closed last year in part because of a previous increase in steel tariffs during Trump's first presidential term. With steel tariffs at 50% now, Huether expects he will ultimately have to raise his prices by more than 20%, given that tinplate represents a part of his production costs. Some buyers have already reduced their orders this year by 20 to 25% over worries about the economy and about not having enough business themselves. Others now seem more inclined to buy American, but Huether expressed reservations over how long this trend might last, citing his experiences from the Covid-19 crisis. 'During the pandemic, we took everybody in. As China shut down and the ports were locked up, our business went up 50%,' he explained. But when the pandemic was over, customers turned back to purchasing from China, he said. 'Today if people want to come to us, we'll take them in,' he said, but added, 'We need to have a two-year contract.' Huether wants to believe that his company, which is almost a century old after being founded during the Great Depression, will weather the latest disruptions. 'I think that our business will survive,' he said, but added, 'It's trying to figure out what you're going to sell in the next six months.'

US Senate opens debate on Trump's controversial spending bill
US Senate opens debate on Trump's controversial spending bill

Borneo Post

timean hour ago

  • Borneo Post

US Senate opens debate on Trump's controversial spending bill

The U.S. Capitol on June 28, 2025 in Washington, DC. Senate Republicans overnight released a new version of the 'One, Big, Beautiful Bill,' as they approach U.S. President Donald Trump's July 4 deadline. – AFP photo WASHINGTON (June 29): US senators debated into the early hours of Sunday Donald Trump's 'big beautiful' spending bill, a hugely divisive proposal that would deliver key parts of the US president's domestic agenda while making massive cuts to social welfare programs. Trump is hoping to seal his legacy with the 'One Big Beautiful Bill,' which would extend his expiring first-term tax cuts at a cost of $4.5 trillion and beef up border security. But Republicans eyeing 2026 midterm congressional elections are divided over the package, which would strip health care from millions of the poorest Americans and add more than $3 trillion to the country's debt. The Senate formally opened debate on the bill late Saturday, after Republican holdouts delayed what should have been a procedural vote — drawing Trump's ire on social media. Senators narrowly passed the motion to begin debate, 51-49, hours after the vote was first called, with Vice President JD Vance joining negotiations with holdouts from his own party. Ultimately, two Republican senators joined 47 Democrats in voting 'nay' on opening debate. Trump has pushed his party to get the bill passed and on his desk for him to sign into law by July 4, the United States' independence day. 'Tonight we saw a GREAT VICTORY in the Senate,' Trump wrote on his Truth Social platform after the vote to begin debate. 'Republicans must remember that they are fighting against a very evil, corrupt and, in many ways, incompetent (Policywise!) group of people, who would rather see our Country 'go down in flames' than do the right thing,' he said in an earlier post. Democrats are bitterly opposed to the legislation and Trump's agenda, and have vowed to hold up the debate. They began by insisting that the entirety of the bill be read aloud to the chamber before the debate commences. The bill is roughly 1,000 pages long and will take an estimated 15 hours to read. 'Republicans won't tell America what's in the bill,' said Senate Democratic Leader Chuck Schumer. 'So Democrats are forcing it to be read start to finish on the floor. We will be here all night if that's what it takes to read it.' If passed in the Senate, the bill would go back to the House for approval, where Republicans can only afford to lose a handful of votes — and are facing stiff opposition from within their own ranks. – Divisive cuts – Republicans are scrambling to offset the $4.5 trillion cost of Trump's tax relief, with many of the proposed cuts to come from decimating funding for Medicaid, the health insurance program for low-income Americans. Republicans are split on the Medicaid cuts, which will threaten scores of rural hospitals and lead to an estimated 8.6 million Americans being deprived of health care. The spending plan would also roll back many of the tax incentives for renewable energy that were put in place under Trump's predecessor Joe Biden. On Saturday, former Trump advisor Elon Musk — with whom the president had a public falling out this month over his criticism of the bill — called the current proposal 'utterly insane and destructive.' 'It gives handouts to industries of the past while severely damaging industries of the future,' said Musk, who is the world's richest person, and owns electric vehicle company Tesla and space flight firm SpaceX, among others. Independent analysis also shows that the bill would pave the way for a historic redistribution of wealth from the poorest 10 percent of Americans to the richest. The bill is unpopular across multiple demographic, age and income groups, according to extensive recent polling. Although the House has already passed its own version, both chambers have to agree on the same text before it can be signed into law. – AFP donald trump One Big Beautiful Bill politics US Senate

Musk calls Trump's 'One Big, Beautiful Bill' political suicide for Republicans
Musk calls Trump's 'One Big, Beautiful Bill' political suicide for Republicans

Malaysian Reserve

time3 hours ago

  • Malaysian Reserve

Musk calls Trump's 'One Big, Beautiful Bill' political suicide for Republicans

MOSCOW — US billionaire entrepreneur Elon Musk said on Sunday that US President Donald Trump's 'One Big, Beautiful Bill,' which cuts federal spending but at the same time provides serious tax breaks, is a political suicide for the Republican party of the United States. 'Polls show that this bill is political suicide for the Republican Party,' Musk said on X, reported Sputnik/RIA Novosti. Musk also posted the results of opinion polls on the issue. According to them, the majority of the US citizens quizzed believe that Trump's bill will increase the budget deficit. Earlier in the day, NBC News reported that the US Senate had approved Trump's 'One Big Beautiful Bill' by a majority vote. In May, the lower house of the US Congress passed Trump's One Big Beautiful Bill, which cuts federal spending but at the same time provides serious tax breaks. As a result, according to the Congressional Budget Office, both the budget deficit and the national debt will grow. Musk has repeatedly criticised Trump's bill in his posts, in particular, he previously noted that as a result, the US budget deficit would grow to US$2.5 trillion, and American citizens would face unsustainable debt. –BERNAMA-SPUTNIK/RIA NOVOSTI

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