FazTimes media: President Donald Trump's highly promoted "One Big Beautiful Bill," a wide-ranging set of tax, military, and immigration policies, is praised by Republicans as a major success. However, Democrats are worried it might make inequality worse and increase the national debt. The bill passed by a very narrow margin—51 to 50—with Vice President JD Vance deciding the outcome. Interestingly, three Republicans—Susan Collins from Maine, Thom Tillis from North Carolina, and Rand Paul from Kentucky—voted against the bill because they were concerned about spending control and the bill's effect on the economy in the long run.

This resulted in a Republican victory, albeit with some disagreement.

Senate Majority Leader John Thune described the moment as "historic," saying he is happy with the bill because it moves toward a "stronger, safer, and more prosperous America." He called it a "bold plan" for economic freedom, national strength, and bringing back American greatness. Thune said this is the kind of leadership that voters wanted in 2024. The main parts of the bill include continuing parts of Trump’s 2017 Tax Cuts and Jobs Act.

This means giving permanent tax breaks to companies, removing federal taxes on tips, and allowing more tax deductions for small businesses. The bill also includes more than $110 billion in new money for the military and $50 billion to improve border security. President Trump, talking to reporters at the White House, called the bill "fantastic" and said he's hopeful it will move forward quickly in the House of Representatives.

He said, "It has something for everyone—families, workers, business owners, our military, and our veterans.

It's a big, great, patriotic bill. " He added, "I think the House will pass it even faster than the Senate."

Al Jazeera reports that Trump has made this bill a key part of his plan for his second term and has pushed Republican lawmakers to act fast before the July 4 holiday. Democrats quickly criticized the bill. Senate Minority Leader Chuck Schumer called it "a betrayal of working Americans," saying the tax cuts mostly help the wealthy and harm important social programs.

"This bill resembles a reversal of Robin Hood." During a powerful speech on the Senate floor, Schumer criticized the bill for favoring billionaires at the expense of the sick, the poor, and the elderly.

According to a report by BBC News, the law includes big cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP), which could affect millions of low-income Americans. Critics also say the bill weakens environmental rules and reduces checks on federal agencies, which they call dangerous rollbacks.

A report from the nonpartisan Congressional Budget Office (CBO) has raised concerns about the economic effects of a Senate bill. The CBO says the bill would add $3.3 trillion to the federal deficit and $2.4 trillion to the national debt over the next ten years.

The report also warns that 11.

8 million people might lose their health insurance by 2034, mainly because the bill would roll back Medicaid expansion. Senator Elizabeth Warren from Massachusetts said, "We are passing laws that create a future where millions could face bankruptcy from a single illness, where hunger becomes more common, and the national debt gets worse and worse.

What's in the Bill? Key Points to Know

Tax Cuts: Makes permanent tax breaks for businesses and lowers taxes on profits from investments.
Wages: Removes the federal income tax on tips that service workers get.
Defense Spending: Adds $110 billion to the military budget, which includes money for new weapons like missiles and for cybersecurity efforts.
Border Security: Spends $50 billion to improve the border walls, use drones for watching the border, and strengthen immigration control.
Entitlement Reforms: Changes in who can qualify for government help, like healthcare and food support programs.

Path Forward: House Vote and Legal Challenges

The bill now goes to the House of Representatives, where Republicans have a slight majority of 218 to 217.

Although the House leader, Elise Stefanik, is supporting the bill, some moderate Republicans from competitive areas are worried about how the bill might affect healthcare access and the country's finances.

Brian Fitzpatrick, a Republican from Pennsylvania who leans toward the center, said, "I support tax relief and a strong military, but I can't vote for a bill that takes away healthcare from my voters without a good plan in place." If the House changes the Senate version of the bill, it might go back to the Senate for a special process called reconciliation, which could create more challenges for the party to stay united.

Public Opinion Divided

A recent Gallup poll reveals a divided opinion among Americans regarding the bill. About 61% of Republican voters support it, while only 18% of Democrats and 35% of independents do. People who don’t like the bill often mention worries about healthcare, fair taxes, and the country’s debt as their main concerns. On the other hand, small business groups and defense companies seem pleased with the law.

What does the legislation mean for India and global markets?

Investors are expecting more U.S. defense spending and possible business deals for Indian tech and logistics companies. India’s foreign policy experts also believe that increased U.S. defense spending will have serious repercussions. Money spent on defense in the Indo-Pacific area could help India, especially in dealing with China’s growing

Conclusion: A Key Moment for Trump and the GOP

As President Trump works to get the House to approve the bill before July 4—a special date for his "America First" plan—the situation is crucial. For the Republicans, this bill is a big step toward keeping their campaign promises and helps set the direction for the rest of Trump's presidency.

For the Democrats, it's a chance to bring people together for the 2026 midterms, and they see it as a challenge to an economic and social plan they think is wrong. No matter if the bill becomes law or doesn't pass in the House, "One Big Beautiful Bill" has already created a lot of discussion in politics and could shape the memory of Trump's second term as president.

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This report has been cross-referenced with coverage from globally recognized news organizations, including BBC News, Reuters, Bloomberg, South China Morning Post, Al Jazeera, NDTV, The Economic Times, and The Indian Express, and we are committed to upholding the highest standards in global journalism to ensure our readers receive reliable and fact-checked information.