The Chamber of Representatives of the United States (USA) is ready to begin vote on the Fiscal and Budget bill of the Republican Party, which is loaded with many of the wishes of President Donald Trump. President Trump has colloquially called the Fiscal and Budget bill as a “great and beautiful bill”, which led the Republicans of the Congress to officially rename the document as the “One Big Beautiful Bill Act”.
The main Republicans have been pressing the dissidents of the bill within their own party after several hard -line republicans express their dissatisfaction with the budget scheme: some felt that the budget did not include enough cuts to critical federal programs such as Medicaid, while others considered that the budget did exactly the opposite of the declared objectives of the Republican platform to reduce the governor deficit.
The budget bill is expected to be voted at some time on Thursday, and if approved, the law of a beautiful bill is ready to add between 3 billion dollars and 4 billion dollars to the US federal budget deficit during the next ten years. The Chamber Budget Committee managed to soften the complaints of Republicans about the Budget Law by providing, contrary to intuition, even more tax cuts, increasing federal fiscal deductions for individuals who earn up to $ 500,000/year. The fiscal bill is expected to be approved in Congress by a close majority, where it will then pass to the US Senate for final revisions and another voting round before going to President Donald Trump’s desk for his official signature.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
