Trump will get 'punched in the face' by markets if his spending bill passes without a plan for national debt and tariffs
Donald Trump’s sweeping tax reform bill, pitched as a boost to economic growth and middle-class income, promises major tax cuts and incentives but is raising alarms among economists who warn it could significantly worsen the national debt. While the administration touts growth and deficit reduction, experts argue the plan benefits the wealthy, risks long-term fiscal instability, and relies on overly optimistic projections.
On the campaign trail, then-Republican nominee Donald Trump said many of the things voters wanted to hear: He would reduce inflation, rebalance power with key trading partners, and extend tax cuts to increase discretionary income. So far, voters may not have gotten quite what they bargained for.
President Trump is now focused on a final push to sign off on the “largest tax cuts in American history” after the bill was narrowly approved by the House.
Trump is calling on Congress to pass his One Big, Beautiful Bill Act, which encapsulates many of his economic pledges. To name a few: It extends his temporary 2017 cuts, which lowered individual income and estate taxes; grants a tax break for tips, overtime, and interest on auto loans, domestic research, and development expense incentives; and offers “Trump kids” savings accounts and a $46.5 billion package to restart immigration action.
https://finance.yahoo.com/news/trump-punched-face-markets-spending-080300074.html
2008 all over again.
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