'One of the biggest signings': Donald Trump celebrates if the US home passes the budget plan paving for tax cuts | Today news

Donald Trump celebrated when the US House of Representatives passed a budget plan or a blueprint, although they now promise great tax cuts in the history of the United States. Donald Trump mentioned it as one of the ‘largest and most important signatures in the history of the country’, and reiterated that the bill ‘would bring’ the largest tax and regulatory cuts’ in the US. “Congratulations to the home on the transition of a bill that set up the stage for one of the largest and most important signings in the history of our country. It will even be considered among many other the largest tax and regulatory cuts ever. Make America great again!” Donald Trump posted on Truth Social. The mood of 216-214 pushed the budget plan forward, one more milestone for Speaker Mike Johnson, and the next step in a long process to unlock the center of the president’s domestic agenda of tax cuts, mass-deports and a smaller federal government. According to reports, two conservative Republicans voted against the Trump Tax Report Bill, just like all Democrats. Trump tax reduction The bill will extend the 2017 tax cut that was Donald Trump’s primary first-term legislative performance. According to reports, the bill would reduce tax by about $ 5 trillion and add about $ 5.7 trillion to the federal government’s debt in the next decade. Read also | The US suspends additional 26% tariff on India for 90 days after Donald Trump interrupted the reciprocal rates on the new tax cut includes the elimination of tax on wage, social security revenue and other items – a move that can drive the total cost of the plan to nearly $ 7 trillion in the next decade. The proposal also contains $ 175 billion for Trump’s deportation initiative, and an equal amount for the Department of Defense to increase military spending. Donald Trump-led White House argued that if the tax cuts are extended, wages will rise by as much as $ 3,300 a year and revenue for median households will rise by $ 5,000 a year. ”(With agency input) first published: 10 Apr 2025, 22:42 IST