US President Donald Trump signed a major package of legislation late Friday evening Danish time. This took place at a ceremony at the White House in Washington, D.C. on America's Independence Day.
- This is a good one, said Trump, as he, flanked by Republican politicians, signed the papers in front of him.
Trump has fought hard to get the legislation through the two chambers of Congress, the Senate and the House of Representatives. On Thursday, the legislation, which includes savings and tax cuts, was passed by a narrow majority of 218-214 in the House of Representatives. All that was missing was Trump's signature for the law to formally come into force.
A large part of Trump's campaign promises has been crammed into the major package of legislation, which the president himself has dubbed the Big Beautiful Bill (BBB). It includes both tax cuts for the rich and cuts in social benefits and health care for the less well-off. There are also changes in support for green energy and better conditions for oil and gas.
The legislative package will increase the debt ceiling in the United States by $5 trillion. The United States' public debt is already high. According to the US Treasury Department, the current national debt is more than $37 trillion.
/ritzau/amp
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
