On the afternoon of July 3, local time, early this morning Beijing time, despite strong opposition from the US Democratic House of Representatives, the Republican-controlled House of Representatives voted narrowly to pass the Senate version of the so-called “big but beautiful” bill, which is the large-scale tax and expenditure bill promoted by US President Trump. Next, the bill will be submitted to Trump for signature into law. At noon on July 1, local time, the Senate relied on Vice President Vance's “one vote to break the game” and passed the bill with 51 votes in favor and 50 votes against. However, since the Senate made major changes to the version previously passed by the House of Representatives, the House of Representatives must once again pass the new version. This bill has been highly controversial due to cuts in federal aid, increases in long-term debt, and tax cuts for the rich and large enterprises. It has been criticized by some for “robbing the poor and helping the rich,” and further pushing the US on a path of fiscal unsustainability.

On the afternoon of July 3, local time, early this morning Beijing time, despite strong opposition from the US Democratic House of Representatives, the Republican-controlled House of Representatives voted narrowly to pass the Senate version of the so-called “big but beautiful” bill, which is the large-scale tax and expenditure bill promoted by US President Trump. Next, the bill will be submitted to Trump for signature into law. At noon on July 1, local time, the Senate relied on Vice President Vance's “one vote to break the game” and passed the bill with 51 votes in favor and 50 votes against. However, since the Senate made major changes to the version previously passed by the House of Representatives, the House of Representatives must once again pass the new version. This bill has been highly controversial due to cuts in federal aid, increases in long-term debt, and tax cuts for the rich and large enterprises. It has been criticized by some for “robbing the poor and helping the rich,” and further pushing the US on a path of fiscal unsustainability.