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What Donald Trump’s ‘big, beautiful’ budget bill means for the US economy

The president has staked his second-term agenda on the sprawling tax-and-spend legislation

Donald Trump is on the verge of securing passage of his flagship tax and spending legislation in the lower chamber of the US Congress.

The sprawling bill, which would slash US taxes and increase spending, is the centrepiece of the president’s second-term agenda and has been at the centre of a fierce battle among Republicans in the House of Representatives.

Lawmakers are divided over spending on health and social care programmes and fears over the country’s ballooning debt. The president has repeatedly intervened to pressure them to pass the bill, last week warning that “we don’t need GRANDSTANDERS in the Republican party”.

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