Donald Trump’s flagship bill has passed the House. It promises tax cuts, military spending, and deep cuts to social programmes. The price: $2.4 trillion added to the U.S. debt.
After a 24-hour session, House Republicans have approved Trump’s most ambitious economic plan. It passed 215 to 214, by a single vote.
The bill, named the One Big Beautiful Bill, stretches across tax, immigration, and budget policy. It renews Trump-era tax cuts. It adds new pledges: no taxes on tips or overtime pay.
Trump called it a “deal for working Americans.” Economists see rising debt. The Congressional Budget Office projects it will add $2.4 trillion to the deficit over ten years.
To compensate, the bill slashes more than $1 trillion from social safety net programmes. It includes nearly $500 billion in cuts to Medicare. It could strip Medicaid from 8.7 million people. An additional 7.6 million may lose health coverage.
Despite the scale, Trump’s allies say the bill boosts growth. “You’ll have more money in your pocket,” said House Majority Leader Steve Scalise. “Businesses will hire more. The economy will take off.”
Markets disagreed. Bond yields rose on Wednesday as investors signalled unease. Some lawmakers echoed that concern.
“This bill is a debt bomb ticking,” said Rep. Thomas Massie. “Congress can pretend. Bond markets won’t.”
Trump personally brokered the vote. He lobbied holdouts by phone. He rallied Republicans at his Florida resort. When the bill stalled, he summoned budget hawks to the White House. By nightfall, they flipped.
“He’s the closer,” said Rep. Eric Burlison. “The maestro of the deal.”
But the party remains split. Conservatives say the bill spends too much. Moderates say it cuts too deep.
Disputes over Medicaid, food assistance, and state tax deductions boiled over. Trump told Republicans not to “mess around” with Medicaid. But interpretations varied. Some read it as a warning. Others saw it as cover to trim excess.
The bill now moves to the Senate. It faces further negotiation, and likely revision. Some Republicans want deeper cuts. Others want softer language.
What began as a campaign slogan is now a legislative test. Trump delivered the House. The Senate is next.
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As the 2026 World Cup kicked off on 11 June across North America, U.S. visa restrictions and travel policies have made it impossible for supporters, football officials and even a FIFA-appointed referee to attend. It's raised a lot of questions about access to such a high-profile global event.
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Uzbekistan will launch a new digital financial platform from 1 July aimed at simplifying access to finance for entrepreneurs, as part of broader efforts to support small businesses, encourage innovation and accelerate private sector development.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
While France hosts next week’s Group of Seven summit, businesses in neighbouring Switzerland have already begun taking precautions, with many shops in Geneva boarded up ahead of a large anti-G7 demonstration expected on Sunday.
Pakistan has warned that any attempt by India to block or significantly reduce river flows under the Indus Waters Treaty could have “far-reaching consequences”, after India's water minister said New Delhi was working to ensure that “not a single drop” of water reaches Pakistan in the coming years.
Italian Prime Minister Giorgia Meloni and Polish Prime Minister Donald Tusk have criticised Britain, France and Germany for leaving them out of talks with Russia about a potential future peace deal for Ukraine.
Every June, roughly 13 million young people in China sit down at the same time to take the same test. They have been preparing for it, in many cases, since primary school. Their families have rearranged their lives around it.
European museums are increasingly returning cultural artefacts to countries in Africa and the Middle East, as pressure grows to address the legacy of colonialism and disputed ownership.
Uganda’s health ministry has raised concerns over what it described as unfair travel restrictions imposed during the current Ebola outbreak, warning that such measures risk undermining transparent reporting. .
Georgia is overhauling its migration laws in one of the most significant legal reforms in years, introducing criminal penalties for fake marriages, tighter controls on foreign students and expanded investigative powers for the migration authorities.
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