Trump Signs Controversial Tax and Spending Bill into Law

According to Foresight News, U.S. President Donald Trump signed the "Big and Beautiful" tax and spending bill into law on July 4, local time. The U.S. House of Representatives passed the bill on July 3 with a narrow vote of 218 in favor and 214 against. The legislation has sparked controversy due to its provisions, which include cuts to federal aid, an increase in long-term debt, and tax reductions for wealthy individuals and large corporations.