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Trump plans to sign his tax and spending cut bill at the White House July 4 picnic

  • President Donald Trump is scheduled to sign his budget and spending bill into law at the White House on July 4, 2025.
  • The bill passed narrowly in Congress after a nearly nine hundred-page package including tax cuts, Medicaid cuts, and immigration spending was approved.
  • The legislation prolongs the tax reductions implemented in 2017 under Trump, imposes $1.2 trillion in cuts to Medicaid and food assistance programs, and offers approximately $4.5 trillion in tax benefits primarily favoring higher-income individuals.
  • The nonpartisan Congressional Budget Office estimates that the legislation will increase the federal deficit by $3.3 trillion and result in almost 12 million additional individuals lacking health insurance coverage.
  • The signing event will coincide with July 4 celebrations including fighter jet flyovers and may feature a UFC championship fight on the White House grounds.
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CPA Practice Advisor broke the news in on Thursday, July 3, 2025.
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