In a significant political development, Donald Trump's much-discussed 'big beautiful bill' has successfully passed through the US Congress, paving the way for it to be signed into law by the President. This controversial package, which includes a series of tax breaks and spending cuts, was narrowly approved by the Republican-controlled House of Representatives, with the final vote tally standing at 218 in favor and 214 against.

The newly approved bill delivers on many of the tax break promises made by Trump during his 2024 election campaign. However, it also entails substantial cuts to critical health and food safety programs, alongside the elimination of numerous green energy incentives that were in place. According to the nonpartisan Congressional Budget Office (CBO), the legislation is projected to reduce tax revenues by an alarming $4.5 trillion over the next decade while contributing an additional $3.4 trillion to the existing national debt, which currently stands at approximately $36.2 trillion.

Despite the considerable financial implications and the potential adverse effects on healthcare programs, the bill garnered overwhelming support from Republican lawmakers, with only two dissenting voters. The Democratic caucus, on the other hand, united in opposition, criticizing the legislation as a blatant giveaway to the wealthy and a measure that could leave millions of Americans without health insurance. House Speaker Mike Johnson, a key advocate for the bill, argued that it would result in tangible benefits for everyday Americans, presenting it as a transformative piece of legislation.

In stark contrast, House Democratic Leader Hakeem Jeffries delivered a marathon speech lasting an impressive eight hours and 44 minutes to oppose the bill. Jeffries expressed strong concerns about the proposed cuts, claiming the main objective of the legislation was to provide considerable tax breaks to billionaires at the expense of ordinary citizens.

Trump is set to officially sign the bill into law during a ceremony on the Fourth of July, which is scheduled for 5 PM local time, or 10 PM in the UK. In an enthusiastic address to reporters at Joint Base Andrews, Trump referred to the legislation as 'the biggest bill ever signed of its kind' and asserted that it would propel the nation forward with tremendous economic growth, likening the potential of the bill to turning the country into a 'rocket ship'.

To add to the celebratory atmosphere of the signing event, Trump noted that fighter jets would fly overhead, further dramatizing the occasion. The bill's contents not only include cuts to vital programs but also introduce new tax breaks for overtime pay, seniors, and tipped workers, while staving off tax increases that would have affected most Americans at the year's end, when earlier tax cuts from Trump’s first term were set to expire. Importantly, the bill had narrowly passed the Senate just a few days prior, with Vice President JD Vance casting the decisive vote to break a deadlock in a closely contested 50-50 scenario.