Trump inks ‘Big Beautiful Bill’ following B-2 bomber flyover

(MENAFN) President Donald Trump officially signed a huge multitrillion-dollar tax and spending package, known as the ‘Big Beautiful Bill,’ into law during a White House ceremony on Friday that featured a flyover by B-2 bombers used in recent strikes on Iran.

The event took place during an Independence Day picnic for military families, where Trump praised the Air Force’s recent military operations before highlighting economic achievements. He emphasized the nation’s progress toward a stronger economy, enhanced border security, and a powerful military ahead of America’s 250th anniversary next year.

“This bill will drive massive economic growth and benefit the hardworking middle class,” Trump stated, predicting the country’s economy will soar.

The nearly 900-page legislation, passed narrowly by the House of Representatives the day before, extends the 2017 tax cuts from Trump’s first term and temporarily lowers taxes on tips and overtime pay. It also allocates substantial funds for border security measures, including the US-Mexico wall and large-scale migrant deportations.

To offset costs, the bill cuts Medicaid, food assistance, and clean-energy subsidies. According to Congressional Budget Office estimates, by 2034 nearly 12 million Americans could lose Medicaid coverage, and around 3 million could lose SNAP benefits.

The CBO projects the bill will increase the national debt by $3.3 trillion over the next decade, due to $4.5 trillion in revenue losses offset by only $1.2 trillion in spending cuts. The bill also raises the debt ceiling by $5 trillion, allowing for additional federal borrowing.

The House vote followed intense GOP negotiations and a personal intervention by Trump to secure enough support, with only two Republicans—Thomas Massie and Brian Fitzpatrick—voting against the bill.

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