Donald Trump can scream victory: after going through the House of Representatives and the Senate, the “big and magnificent law” (One Big Beautiful Bill Act) Completed his legislative journey on his office on Friday, the day of the independence festival of the United States, as he had wished.
We enter the golden age of America
he launched in a speech delivered to families of soldiers who had gone to the White House to participate in a picnic.
Accompanied by the First Lady, Melania Trump, the president wished a happy National Day to the Americans before moving to an office that had been installed nearby, in the sight of all.
It was there that, all smiles, he affixed his signature on the legislative document, surrounded by many Republican elected officials who voted in favor of the megaproject of budgetary law.
Donald Trump gave a few hammer blows after signing the law with elected Republicans.
Photo : Reuters / Leah Millis
A victory over the line
This is the first major legislative achievement of President Trump.
If the latter has signed hundreds of presidential decrees since his return to the White House, he had not yet convinced the Congress to move forward with a proposal of such a scale. It’s now done.
The flagship project of its second mandate, the “large and magnificent law” is a document of nearly 900 pages which deals with defense, immigration, health, taxation and education.
The law will allow, among other things, to make permanent tax cuts for the richest which had been adopted during its first mandate.
The latter will alone cost $ 4500 billion from US dollars. To compensate them in part, the Republicans have planned to slash in social programs like Medicaid, health insurance depended on millions of Americans with modest income.
The Congress Budget Office, responsible for not supporting the impact of public finance bills, estimates that the text would increase the debt by more than 3,000 billion US dollars by 2034.
Before signing his “big and magnificent law”, Donald Trump addressed the people who had gone to the White House to celebrate the United States independence party.
Photo : Reuters / Leah Millis
Immediate benefits, delayed costs
The Republicans have strategically separated
The profits and costs of their budgetary megaproject law, observes Antoine Yoshinaka, professor of political science at New York State University in Buffalo.
The profits will be immediate, while the costs will not be felt in the long term
he explains.
Upon entering into force, the law will offer a drop in income tax of the richest, but also by majority of Americans
because it introduces new tax deductions, especially on tips and overtime.
The different compressions will not be felt until later.
Indeed, cuts in social programs like Medicaid and Medicare, health insurance for seniors, will only come into force after the mid-term elections in November 2026.
According to Professor Yoshinaka, between 10 and 15 million Americans will lose their health insurance in the next ten years.
