Currently, Republican members of the U.S. Congress are working overtime to ensure that Trump gets his way and passes the "Big and Beautiful Bill" before the Fourth of July, America's Independence Day. There are many controversies surrounding this complex bill, such as accusations that it "steals from the poor to give to the rich." Elon Musk, who had previously clashed openly with Trump over the bill, has once again issued criticism and threats regarding the bill.

The "Big and Beautiful Bill" is a budget reconciliation bill covering tax cuts, tax reform, border, defense, and other core policies of Trump. Image source: Trump wants to complete the legislative process for the "Big and Beautiful Bill Act" (The One Big Beautiful Bill Act) before the Fourth of July celebrations in the United States on Friday, and has urged Republicans with majority seats in the House and Senate to abandon their holidays. The Senate is currently conducting a marathon-style review of the bill. Democrats unanimously oppose the bill and have introduced numerous amendments during the voting marathon in the Senate. Senators can propose an unlimited number of amendments, and each amendment will be put to a vote.

According to AFP analysis, given Trump's iron-fisted control over the Republicans, it is expected that he will succeed in the Senate. However, passing in the Senate is only half the battle, because this 900-plus-page bill will then go through a separate vote in the House of Representatives. The House may vote as early as Wednesday. Only after the House approves the bill can Trump sign it into law.

Trump hopes his "Big and Beautiful Bill" will continue his tax cut policy, increase military spending, and fund his unprecedented large-scale deportation and border security plan. However, the bill's cuts to Medicaid and its plan to significantly raise the debt ceiling have sparked huge controversy.

A nonpartisan study indicates that the bill will pave the way for a historic redistribution of wealth from the poorest to the richest people.

Elon Musk, who had previously openly clashed with Trump over the "Big and Beautiful Bill," once again made sharp criticisms at the start of the Senate vote, stating that if the bill passes, he would immediately establish a new political party.

On Monday night local time, Trump posted a series of messages on his social media platform "Truth Social," defending the bill, calling it "the largest and most important of its kind in history," and saying that if the bill fails to pass, it would mean "the largest tax increase in history, as high as 68%."

This approximately 940-page bill is complex and covers numerous priority issues of the Republicans, including tax cuts. It is worth noting that the content of the bill may be modified as the voting and negotiations proceed.

Tax cuts are the top priority

The "Big and Beautiful Bill" currently includes about $4.5 trillion in tax cuts. According to the bill, the current tax rates and brackets will remain in place for the long term. In addition, the bill temporarily increases measures proposed by Trump during his campaign: tip and overtime pay exemptions, partial deductions for car loan interest, and a $6,000 tax cut for seniors with annual incomes of no more than $75,000. The bill also contains several corporate-related tax cuts.

According to an analysis by the nonpartisan Congressional Budget Office of the House version of the "Big and Beautiful Bill," middle-income taxpayers will enjoy tax cuts of between $500 and $1,500. The bill will increase the income of the wealthiest families by $12,000 annually, while the income of the poorest families will decrease by $1,600 per year.

Funding for Deportations and Border Wall Construction

The bill will provide about $350 billion for Trump's border and national security agenda, including $46 billion for building the US-Mexico border wall and $45 billion for constructing 100,000 beds in immigration detention facilities. This funding will also be used to hire new immigration and customs enforcement officers and increase border patrol personnel.

Trump's goal is to fulfill his promise to launch the largest deportation operation in American history, targeting the deportation of about one million people annually.

Republicans also proposed to significantly eliminate tax credits aimed at promoting clean energy projects powered by renewable energy. These tax credits are a core component of Biden's 2022 Inflation Reduction Act. According to Reuters, the Republicans not only want to cancel the tax credits implemented by Biden but also plan to impose taxes on new wind and solar projects that use a certain percentage of Chinese components.

Additionally, the tax credit for purchasing electric vehicles will expire on September 30 this year, instead of the end of 2032 as stipulated by current law.

Controversy Over Raising the Debt Ceiling

Furthermore, the bill will raise the national debt ceiling by $5 trillion to allow continued borrowing. This significant increase in the debt ceiling has drawn considerable opposition.

Musk, who had previously criticized the "Big and Beautiful Bill," once again issued sharp criticism at the start of the Senate vote.

Musk posted on X, accusing the "Big and Beautiful Bill" of raising the debt ceiling to an unprecedented $5 trillion as "crazy," calling it a "debt bondage bill," and stating, "It's time to establish a truly people-oriented new party."

This tech billionaire stepped down as head of the Trump government's Department of Government Efficiency (DOGE) in May. He wrote on X: "If this crazy spending bill passes, 'The American Party' will be established the next day. Our country needs an alternative to the Democratic and Republican parties that truly gives the people a voice."

Sources: DW

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