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BlockNews
Home FINANCE

Trump Says Big Beautiful Bill Will Cause an Economic Renaissance: Here is Why

Michael Juanico by Michael Juanico
July 2, 2025
in FINANCE, OPINION, POLITICS
Reading Time: 3 mins read
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  • Trump’s “Big, Beautiful Bill” passed the Senate 50-50 with VP JD Vance casting the tie-breaking vote; it now faces a tough fight in the House.
  • The bill extends $4.5 trillion in tax cuts while slashing $1.2 trillion from Medicaid and food aid programs—impacting millions.
  • Trump touts massive economic growth and investment, calling the U.S. the “hottest” country again, while critics warn of rising debt and harm to the vulnerable.

President Donald Trump’s flashy “Big, Beautiful Bill” just made it through the Senate—barely. The ambitious, polarizing piece of legislation cleared the chamber in a tight 50-50 vote, with Vice President JD Vance stepping in to break the tie. Now, the bill’s off to the House, and things might get even messier.

🇺🇸 TRUMP: AMERICA WILL HAVE AN ECONOMIC RENAISSANCE LIKE NEVER BEFORE, IF THE BIG BEAUTIFUL BILL PASSES pic.twitter.com/BNDSp9rmgc

— BlockNews (@blocknewsdotcom) July 2, 2025

So, what’s in this “beautiful” bill? Well, for starters, Trump wants to extend his earlier tax cuts—this time costing $4.5 trillion. To balance it out? A $1.2 trillion slash in federal welfare programs, including deep cuts to Medicaid and food assistance. Critics are already sounding the alarm, warning that up to 12 million Americans could lose health coverage, especially the poor, elderly, and disabled.

“We’re the hottest nation now,” Trump claims

In true Trump fashion, the former president hyped up the bill on Truth Social, calling it the ticket to America’s comeback. “Last year, America was a dead nation,” he posted, “and now it’s the hottest in the world!” He pointed to a wave of foreign investment and booming tariff revenues as proof the U.S. economy is bouncing back under Republican leadership.

“Nobody wants to talk about GROWTH,” Trump wrote, claiming trillions are flowing in and the U.S. is “making a fortune.” But he warned that this economic upswing hinges on one thing: Republicans standing firm and getting the bill over the finish line.

What’s getting axed—and what’s getting boosted

While the tax cuts grab headlines, there’s more baked into the legislation. Environmental energy incentives? Mostly gone. Meanwhile, border security gets a $350 billion boost, with a chunk of that funding aimed at Trump’s sweeping immigration enforcement plans. It’s a bill that slashes and spends, depending on who you ask.

Democrats fought tooth and nail during a 24-hour “vote-a-rama,” introducing amendment after amendment to slow things down. But Senate Majority Leader John Thune managed to rally enough moderates, and with Vance’s tie-breaking vote, the GOP notched a win.

A tough road ahead in the House

Now the bill heads to the House, where Democrats are expected to unite against it—and some Republicans are getting cold feet, too. The big concerns? A potential $3 trillion boost to the national debt, and what slashing safety nets might mean for working-class families. Trump, meanwhile, remains confident. “It’s going to pass, and we’re going to be very happy,” he told reporters.

Donald J. Trump Truth Social 07.02.25 10:52 AM EST pic.twitter.com/LMQJNJ43MD

— Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) July 2, 2025

The goal is to get this all wrapped up before the Fourth of July. Whether that happens—or whether this turns into another legislative brawl—is anyone’s guess.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Big Beautiful BillDemocratsJohn Thunetax cutsTruth Social
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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