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On May 22nd, the U.S. House of Representatives narrowly passed a landmark tax and spending bill, referred to by President Trump as the “One Big Beautiful Bill.” This extensive legislation combines permanent tax cuts with targeted spending reductions and policy shifts. While intended to stimulate the economy and offer tax relief, it’s projected to increase both the national debt and federal deficits over the next decade. The bill now advances to the Senate, where significant revisions are expected.
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