Trump to sign sweeping tax and spending cuts bill at July 4 White House ceremony

President Donald Trump is set to sign a sweeping tax and spending cuts package into law at a White House ceremony on Friday, following its narrow approval by the Republican-controlled House of Representatives.

The legislation, which aims to fund Trump’s immigration crackdown and make his 2017 tax cuts permanent, was passed by a tight 218-214 vote after a heated debate on the House floor. Critics warn the bill could cause millions of Americans to lose health insurance coverage.

Trump is expected to sign the bill around 5 pm ET during a White House event celebrating the July 4 Independence Day holiday. The ceremony will reportedly feature a flyover by stealth bombers and fighter jets that participated in recent US strikes on Iranian nuclear facilities.

The bill’s passage marks a significant victory for Trump and his Republican allies, who argue that the legislation will stimulate economic growth. However, a nonpartisan analysis projects that it will add $3.4 trillion to the nation’s $36.2 trillion debt, reported Reuters.

Vice President JD Vance, who cast the tie-breaking vote to help the bill clear the Senate, said on Friday that the legislation supports Trump’s goal of encouraging investment within the United States while discouraging investment abroad.

“We’re going to look back on this, I really do think, as the beginning of the golden age of the United States of America,” Reuters quoted Vance as telling reporters during a visit to North Dakota.

While some lawmakers in Trump’s party expressed concerns over the bill’s price tag and its hit to healthcare programs, in the end just two of the House’s 220 Republicans voted against it, joining all 212 Democrats in opposition.

The tense standoff over the bill included a record-long floor speech by House Democratic Leader Hakeem Jeffries, who spoke for eight hours and 46 minutes, blasting the bill as a giveaway to the wealthy that would strip low-income Americans of federally-backed health insurance and food aid benefits.

With inputs from agencies