WASHINGTON: US President Donald Trump signed the spending bill that introduces tax cuts and raises the debt ceiling. "It's the big...
WASHINGTON: US President Donald Trump signed the spending bill that introduces tax cuts and raises the debt ceiling.
"It's the biggest bill ever signed of its kind," he said before signing the bill in a ceremony outside the White House. "That’s the largest tax cut in the history of our country."
Dubbed by Trump as "one big, beautiful bill," stipulates a substantial cut in taxes and government spending in some areas. But it earmarks more money on defense, for example the Golden Dome air defense system, and border control.
Elon Musk subjected the bill to criticism multiple times, saying it would raise the US debt ceiling by $5 trillion, opening the door for further expanding the debt that currently stands at $36 trillion.
-News Feed
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