‘Promises made, promises kept’: Trump signs sweeping tax and spending Bill into law

“America’s winning, winning, winning like never before,” Trump said, noting the Bill’s passage and last month’s military action against Iran, which he said Friday’s stealth bomber flyover was meant to honour. “Promises made, promises kept, and we’ve kept them.”

Standing alongside Republican lawmakers and Cabinet officials, Trump signed the Bill from a desk placed on the White House driveway, striking the gavel gifted to him by House Speaker Mike Johnson to mark the moment. He had set Independence Day as a deadline for signing the Bill, which passed both chambers earlier this week.

Trump bangs a gavel after signing his signature bill of tax breaks and spending cuts at the White House. (AP Photo)

The signing came after a brief 22-minute speech, and capped what the President described as a recent “winning streak” for his administration, which also includes a series of US Supreme Court rulings he had supported.

After dark, the President and First Lady, Melania Trump, appeared on the Truman Balcony as chants of “USA, USA” rose from the South Lawn. The couple watched the fireworks before departing for their New Jersey residence for the holiday weekend.

Big cuts to Medicaid and food stamps

While Republicans have touted the legislation as an economic engine, critics condemned it as a gift to wealthy Americans and corporations, financed by steep cuts to essential welfare programs.

“Today, Donald Trump signed into law the worst job-killing bill in American history,” said AFL-CIO President Liz Shuler in a statement quoted by news agency AP. “It will rip health care from 17 million workers to pay for massive tax giveaways to the wealthy and big corporations, amounting to the country’s largest money grab from the working class to the ultra-rich.”

Trump holds his signed his signature bill of tax breaks and spending cuts at the White House. (AP Photo)

The Bill extends Trump’s 2017 tax cuts and includes $1.2 trillion in reductions to Medicaid and the Supplemental Nutrition Assistance Program. The Congressional Budget Office (CBO) estimates that nearly 12 million more people will lose health insurance under the law.

It also significantly boosts funding for immigration enforcement and is projected by the CBO to increase the national deficit by $3.3 trillion over the next decade.

Democrats were unanimous in opposing the legislation. In the House, only two Republicans broke ranks. In the Senate, it passed by a single vote, with Senator J D Vance casting the tiebreaker. Senator Thom Tillis of North Carolina, who voted against it, later announced he would not seek re-election after reportedly falling out with Trump.

The Bill reverses key policies from the Obama and Biden administrations, including the rollback of Medicaid expansion under the Affordable Care Act and the elimination of tax credits for renewable energy.

Democrats vow to make Bill a midterm issue

Democratic leaders responded swiftly to the signing, warning that the legislation will be a central campaign issue in the 2026 midterms.

The Bill reverses key policies from the Obama and Biden administrations. (AP Photo)

“This was a full betrayal of the American people,” said Democratic National Committee Chair Ken Martin. “Trump’s signature on the legislation sealed the fate of the Republican Party, cementing them as the party for billionaires and special interests — not working families.”

Martin predicted Republicans would lose control of Congress as a result of the vote.

On Friday, President Trump defended the legislation, dismissing Democratic criticisms. “Their hatred of either the country or me or both is so great they didn’t vote at all and it’s terrible,” he said.

He also accused Democrats of fearmongering: “Their standard line is ‘dangerous’ or ‘everybody’s going to die.’ We can’t let them get away with it.”

“With this Bill, it’s actually just the opposite,” Trump added. “Everybody’s going to live.”

The Bill extends Trump’s 2017 tax cuts and includes $1.2 trillion in reductions to Medicaid and the Supplemental Nutrition Assistance Program. (AP Photo)

Speaking at a rally in Iowa Thursday night, Trump said, “They hate Trump — but I hate them, too.”

Democrats are reportedly planning rallies, ad campaigns, and other mobilization efforts to highlight the law’s most controversial elements. Public polling reflects a divided response: A Washington Post/Ipsos poll found broad support for some provisions, such as eliminating taxes on tips and expanding the child tax credit, but majority opposition to cuts in food assistance and added federal debt.

About 60% of Americans said it was “unacceptable” that the bill is expected to increase the US debt by over $3 trillion. Still, Trump insisted on Friday that the package was “very popular.”

“Our country is going to be a rocket ship, economically,” the President said.

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