Dems Vs Republicans: Heated Vote-A-Rama In US Senate
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Time of India
32 minutes ago
- Time of India
‘Biggest bill ever signed': Donald Trump's first comments after ‘Big Beautiful Bill' passes US Congress
House Republicans on Thursday passed the 'ONE BIG BEAUTIFUL BILL' in a 218-214 vote, clearing the way for President Donald Trump's signature, scheduled for July 4. 'Our Party is UNITED like never before and our Country is hot,' Trump wrote on Truth Social moments after the vote, thanking Speaker Mike Johnson, Senate Majority Leader John Thune, and 'all of the wonderful Republican Members of Congress who helped us deliver on our promises. Tired of too many ads? go ad free now ' The president added that Americans would soon be 'richer, safer, and prouder than ever before' as the nation embarked on what he described as a 'new Golden Age.' Republican lawmakers are expected to join Trump at a White House 'signing celebration' on Friday at 4 pm (local time). Trump said, 'Together we can do things that were not even imagined possible less than one year ago. We will keep working, and winning congratulations, America!' The 'Big Beautiful Bill' delivers massive changes across tax, spending, and security policy. At its core, the legislation makes permanent the $4.5 trillion in tax cuts first enacted during Trump's 2017 term and introduces new breaks, including the elimination of taxes on tips, one of Trump's key campaign promises. On the spending side, it enacts $1.2 trillion in cuts, targeting Medicaid and food stamp programs by imposing stricter eligibility requirements, new work mandates for some parents and older adults, and reduced federal reimbursements to states. The bill also rolls back billions in tax credits for wind and solar energy, a move critics say will trigger major investment losses in the renewable sector. Additionally, it allocates $350 billion toward border security and immigration enforcement, including expanded deportation efforts, partially financed by new fees on immigrants. To accommodate the fiscal package, the bill raises the national debt ceiling by $5 trillion—a provision that drew pushback from some Republican lawmakers.
Time of India
39 minutes ago
- Time of India
Congress approves sweeping student loan changes in ‘Big Beautiful Bill': What it means for borrowers
Congress has passed President Trump's "Big Beautiful Bill," overhauling federal student loans. The legislation restricts repayment options, caps PLUS loans, and holds colleges accountable for graduate earnings. While Public Service Loan Forgiveness remains, stricter eligibility for social programs is introduced, sparking debate over affordability and support for vulnerable populations. Tired of too many ads? Remove Ads What's changing for borrowers? Tired of too many ads? Remove Ads Political response What should borrowers do? If you're in an income-driven plan: Prepare for a transition to new repayment options in the next few years. If you're considering PLUS loans: Review the new borrowing caps and consider alternative ways to finance education. If you're in public service: Stay updated on PSLF rules, especially if you're in a medical or dental residency. In a landmark decision, Congress has passed President Trump's 'Big Beautiful Bill,' triggering the most extensive changes to federal student loans in a generation. The legislation, which cleared both the House and Senate on narrow party-line votes, is now headed to the president's desk for overhaul will dramatically reshape how Americans borrow for college, repay student debt , and access forgiveness bill eliminates most existing income-driven repayment options. By mid-2026, borrowers will have to choose between a new, less flexible income-based plan or a standard plan with fixed payments. The new Repayment Assistance Plan (RAP) stretches repayment up to 30 years before any remaining balance is forgiven, likely increasing total interest for and Parent PLUS loans, once a way to cover nearly unlimited college costs, are now sharply restricted. Graduate students will face a $100,000 lifetime borrowing cap ($200,000 for professional degrees), and Parent PLUS loans are capped at $65,000 per student. The Grad PLUS program is eliminated will only remain eligible for federal loan programs if their graduates earn more than typical high school or bachelor's degree holders in their state. This move is designed to pressure colleges to deliver real economic value, but could cut off funding for underperforming bill keeps PSLF in place, but future regulatory tweaks could make qualifying harder. Borrowers in medical or dental residencies, for example, may soon find their time in training no longer counts toward legislation also introduces stricter eligibility for Medicaid and nutrition assistance, aiming to reduce federal spending. Critics warn this could leave many low-income Americans without critical leaders argue the bill is necessary to rein in government spending and address the ballooning costs of student loan programs. They point to inflation and the expense of previous loan pauses as justification for the and borrower advocates counter that the new rules will make college less affordable, reduce options for struggling borrowers, and push more families into debt. They warn that the bill's cuts to social programs will hit the most vulnerable hardest.
Time of India
an hour ago
- Time of India
Trump kicks off fiery ‘Salute to America' event in Iowa ahead of 250th I-Day Anniversary
U.S. President Donald Trump delivers a 'Salute to America' speech at the Iowa State Fairgrounds, for a kickoff event for yearlong festivities leading up to the 250th anniversary of the signing of the Declaration of Independence. Show more Show less
