Trump’s ‘beautiful’ Bill gets final approval

House Republicans propelled President Donald Trump’s USD 4.5 trillion tax breaks and spending cuts Bill to final congressional passage Thursday, overcoming multiple setbacks to approve his signature second-term policy package before a Fourth of July deadline.

The tight roll call, 218-214, came at a potentially high political cost, with two Republicans joining all Democrats opposed. GOP leaders worked overnight and the president himself leaned on a handful of sceptics to drop their opposition and send the Bill to him to sign into law.

Democratic leader Hakeem Jeffries of New York delayed voting by holding the floor for more than eight hours with a record-breaking speech against the Bill.

At its core, the package’s priority is USD 4.5 trillion in tax breaks enacted in 2017 during Trump’s first term that would expire if Congress failed to act, along with new ones. There’s also a hefty investment, some USD 350 billion, in national security and Trump’s deportation agenda and to help develop the “Golden Dome” defensive system over the US.

The Bill also imposes a 1% fee on overseas transfers made with cash, money orders, or cashier’s cheques. The rule will apply to anyone who is not a US citizen, including Green Card holders, those on temporary visas like H-1B or H-2A, and international students. Remittances contribute significantly to India’s foreign income.

According to the World Bank, India got $129 billion in international remittances in 2024, the largest in the world. Nearly 28% of India’s remittance inflows in 2023-24 came from the US alone.