House of Representatives Speaker Mike Johnson and other members of Congress. Reuters
House of Representatives Speaker Mike Johnson and other members of Congress. Reuters
House of Representatives Speaker Mike Johnson and other members of Congress. Reuters
House of Representatives Speaker Mike Johnson and other members of Congress. Reuters

US Congress approves Trump's 'Big, Beautiful' tax and spending bill


Jihan Abdalla
  • English
  • Arabic

US President Donald Trump secured a significant win on Thursday after Republicans voted to approve his tax and spending bill, cementing his second-term agenda and boosting funds for his anti-immigration drive.

The One Big Beautiful Bill, as Mr Trump called it, had a difficult journey, with complete Democratic opposition and several Republicans voicing misgivings about its costs and effects.

White House press secretary Karoline Leavitt declared it a "victorious day" for Americans and said Mr Trump would sign the bill into law on Friday, Independence Day in the US.

The bill is expected to add $3.4 trillion over a decade on to the country's fast-growing deficits, while shrinking the food stamps programme and forcing through the largest cuts to the Medicaid health insurance scheme for low-income Americans since its 1960s launch.

The bill will be a major landmark in Mr Trump's political life, and comes after he scored recent major wins, including in the Supreme Court and with strikes that led to a ceasefire between Israel and Iran.

Ms Leavitt said the bill will "permanently secure" the US southern border and would add funding for at least 1 million deportations a year.

It would also allow for hiring more immigration enforcement agents.

Speaker Mike Johnson had struggled through the night to gather his rank-and-file Republican members after the package scraped past a series of “test” votes in the House of Representatives that laid bare deep divisions in the party.

But after its last procedural hurdle in the early hours of Thursday, the bill was approved in a final vote of 218-214. It now goes to Mr Trump's desk to be signed into law.

The vote was split largely on party lines, with only two Republicans voting against it and no Democrats voted in favour.

House minority leader Hakeem Jeffries broke the record for the longest speech on the House floor, in an almost nine-hour address opposing the legislation.

"Budgets should be designed to lift people up. This reckless Republican budget … tears people down," Mr Jeffries said.

"It attacks children and seniors and everyday Americans and people with disabilities. This reckless Republican budget is in a immoral document."

The bill honours many of Mr Trump's campaign pledges, including cutting tax on tips, boosting military spending, funding a mass migrant deportation drive and committing $4.5 trillion to extend his first-term tax relief.

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Results

1. Lewis Hamilton (Mercedes) 1hr 32mins 03.897sec

2. Max Verstappen (Red Bull-Honda) at 0.745s

3. Valtteri Bottas (Mercedes) 37.383s

4. Lando Norris (McLaren) 46.466s

5.Sergio Perez (Red Bull-Honda) 52.047s

6. Charles Leclerc (Ferrari) 59.090s

7. Daniel Ricciardo (McLaren) 1:06.004

8. Carlos Sainz Jr (Ferrari) 1:07.100

9. Yuki Tsunoda (AlphaTauri-Honda) 1:25.692

10. Lance Stroll (Aston Martin-Mercedes) 1:26.713,

Company profile

Company: Verity

Date started: May 2021

Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif

Based: Dubai

Sector: FinTech

Size: four team members

Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000

Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors

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Engine: 1.6-litre 4-cyl turbo

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The years Ramadan fell in May

1987

1954

1921

1888

RESULT

Australia 3 (0) Honduras 1 (0)
Australia: Jedinak (53', 72' pen, 85' pen)
Honduras: Elis (90 4)

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Desert Warrior

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Director: Rupert Wyatt

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Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

THE SPECS

Engine: 3-litre V6

Transmission: eight-speed automatic

Power: 424hp

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Gulf Under 19s final

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The specs

Engine: 2.0-litre 4-cylinder turbo

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Transmission: Eight-speed auto

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Price: from Dh362,500

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The Cockroach

 (Vintage)

Ian McEwan 
 

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How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Earth under attack: Cosmic impacts throughout history

4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon

- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.

50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater

1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.  

1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.

1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.

-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.

The specs: 2018 Dodge Durango SRT

Price, base / as tested: Dh259,000

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'Brazen'

Director: Monika Mitchell

Starring: Alyssa Milano, Sam Page, Colleen Wheeler

Rating: 3/5

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Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Updated: July 04, 2025, 5:13 AM