Trump’s Controversial Tax Bill Has Just Been Officially Signed Into Law
In a highly symbolic Independence Day move, Donald Trump has signed into law a sweeping economic bill that blends deep tax breaks, record military and immigration spending, and steep reductions to social programs.
Dubbed the “One Big Beautiful Bill,” the legislation signals a bold shift in U.S. policy — and a potential flashpoint heading into election season.
Pitched as a win for American workers, the bill cements tax cuts that overwhelmingly favor top earners, introduces new deductions for tips and overtime, and raises the estate tax exemption to unprecedented levels. Meanwhile, benefits such as Medicaid and food assistance face sharp cutbacks, with millions expected to lose coverage or support over the next decade.
A major portion of the bill directs hundreds of billions toward Trump’s security agenda. Tens of billions are allocated to expand the U.S.-Mexico border wall, scale up migrant detention capacity, and recruit thousands of new immigration agents. The White House describes the effort as the foundation for the “largest deportation operation in American history,” drawing both praise from conservatives and fierce condemnation from civil rights groups.
Energy and climate policy also take a sharp turn. Incentives for clean technologies and electric vehicles — introduced under the previous administration — are being phased out, while coal and oil producers gain new tax advantages. Environmental advocates warn this could stall progress on emissions targets and undermine the country’s green transition.
Although Trump has framed the bill as fiscally responsible, experts are raising alarms about its long-term cost. The legislation increases the national borrowing limit by $5 trillion, and watchdogs say rising interest payments will strain future budgets. While the administration claims the changes will boost growth and reduce deficits, most independent economists remain unconvinced.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
