The Prague Post - Trump wins 'phenomenal' victory as Congress passes flagship bill

EUR -
AED 4.309937
AFN 79.974464
ALL 96.94329
AMD 448.468957
ANG 2.101161
AOA 1076.162683
ARS 1681.072535
AUD 1.778674
AWG 2.112424
AZN 1.989985
BAM 1.955665
BBD 2.363136
BDT 142.790116
BGN 1.955665
BHD 0.442269
BIF 3501.55762
BMD 1.173569
BND 1.505196
BOB 8.107439
BRL 6.274369
BSD 1.173319
BTN 103.496836
BWP 15.629918
BYN 3.974125
BYR 23001.947791
BZD 2.359737
CAD 1.626625
CDF 3327.067262
CHF 0.935029
CLF 0.028454
CLP 1116.252732
CNY 8.361326
CNH 8.360997
COP 4566.883877
CRC 591.059087
CUC 1.173569
CUP 31.099572
CVE 110.257368
CZK 24.324325
DJF 208.935537
DKK 7.46466
DOP 74.384851
DZD 151.793493
EGP 56.3471
ERN 17.603531
ETB 168.467439
FJD 2.62727
FKP 0.865717
GBP 0.865687
GEL 3.157245
GGP 0.865717
GHS 14.314009
GIP 0.865717
GMD 83.908281
GNF 10176.29559
GTQ 8.995377
GYD 245.473008
HKD 9.154189
HNL 30.739872
HRK 7.534776
HTG 153.529373
HUF 390.892031
IDR 19255.798937
ILS 3.914984
IMP 0.865717
INR 103.599717
IQD 1537.093601
IRR 49377.905898
ISK 143.234146
JEP 0.865717
JMD 188.216972
JOD 0.832053
JPY 173.518018
KES 151.589507
KGS 102.628829
KHR 4702.674478
KMF 492.314003
KPW 1056.252107
KRW 1634.816571
KWD 0.358373
KYD 0.977832
KZT 634.446083
LAK 25441.238941
LBP 105070.726938
LKR 354.015495
LRD 208.265584
LSL 20.36339
LTL 3.465243
LVL 0.70988
LYD 6.335561
MAD 10.566169
MDL 19.488651
MGA 5199.640078
MKD 61.53574
MMK 2464.299154
MNT 4220.177636
MOP 9.405549
MRU 46.838758
MUR 53.374273
MVR 17.967305
MWK 2034.459173
MXN 21.628694
MYR 4.934849
MZN 75.002649
NAD 20.36339
NGN 1763.051164
NIO 43.177011
NOK 11.571502
NPR 165.594537
NZD 1.974542
OMR 0.449869
PAB 1.173319
PEN 4.089017
PGK 4.972656
PHP 67.092541
PKR 333.122841
PLN 4.252206
PYG 8384.419625
QAR 4.283204
RON 5.066336
RSD 117.131892
RUB 97.763233
RWF 1700.182312
SAR 4.402764
SBD 9.631337
SCR 16.690845
SDG 705.894664
SEK 10.933907
SGD 1.509089
SHP 0.922241
SLE 27.432182
SLL 24609.154515
SOS 670.553584
SRD 46.209317
STD 24290.504006
STN 24.498304
SVC 10.266289
SYP 15258.684042
SZL 20.343592
THB 37.214153
TJS 11.040936
TMT 4.119226
TND 3.415564
TOP 2.748616
TRY 48.499492
TTD 7.977448
TWD 35.559012
TZS 2886.400202
UAH 48.371352
UGX 4123.714554
USD 1.173569
UYU 46.996747
UZS 14604.989033
VES 186.280981
VND 30964.61186
VUV 139.571972
WST 3.224613
XAF 655.911597
XAG 0.027823
XAU 0.000322
XCD 3.171628
XCG 2.114654
XDR 0.815744
XOF 655.911597
XPF 119.331742
YER 281.128051
ZAR 20.415751
ZMK 10563.526792
ZMW 27.837073
ZWL 377.888663
  • CMSD

    0.0100

    24.4

    +0.04%

  • BCC

    -3.3300

    85.68

    -3.89%

  • NGG

    0.5300

    71.6

    +0.74%

  • RBGPF

    0.0000

    77.27

    0%

  • GSK

    -0.6500

    40.83

    -1.59%

  • JRI

    0.1100

    14.23

    +0.77%

  • BTI

    -0.7200

    56.59

    -1.27%

  • RIO

    -0.1000

    62.44

    -0.16%

  • CMSC

    -0.0200

    24.36

    -0.08%

  • BCE

    -0.1400

    24.16

    -0.58%

  • SCS

    -0.1900

    16.81

    -1.13%

  • AZN

    -1.5400

    79.56

    -1.94%

  • RYCEF

    0.1800

    15.37

    +1.17%

  • BP

    -0.5800

    33.89

    -1.71%

  • RELX

    0.1700

    46.5

    +0.37%

  • VOD

    -0.0100

    11.85

    -0.08%

Trump wins 'phenomenal' victory as Congress passes flagship bill
Trump wins 'phenomenal' victory as Congress passes flagship bill / Photo: ANDREW CABALLERO-REYNOLDS - AFP

Trump wins 'phenomenal' victory as Congress passes flagship bill

US President Donald Trump boasted of a "phenomenal victory" to cheering supporters at a rally in Iowa on Thursday after Congress narrowly passed his signature tax and spending bill, cementing his radical second-term agenda.

Text size:

The jubilant president kicked off America's year-long 250th birthday celebrations with a victory lap hailing the unpopular bill, which has caused deep concern within his own Republican Party -- as well as, polls show, among many Americans.

Many fear that it will balloon the national debt, gut health and welfare support as well as clean energy, and supercharge Trump's migrant crackdown.

"There could be no better birthday present for America than the phenomenal victory we achieved just hours ago," Trump told supporters in the state capital, Des Moines.

"Very simply, the one, big beautiful bill would deliver the strongest border on Earth, the strongest economy on Earth, the strongest military on Earth, and ensure the United States of America will remain the strongest country anywhere on this beautiful planet of ours."

The bill squeezed past a final vote earlier Thursday, 218-214, after a small group of Republican opponents in the House of Representatives finally fell in line, corralled by Speaker Mike Johnson.

Trump said he would sign the bill into law on Friday, American Independence Day, adding that pilots who had carried out US strikes on Iran two weeks earlier would be in attendance.

- Mass deportations, tax breaks -

The legislation is the latest in a series of big wins for Trump, including a Supreme Court ruling last week that curbed lone federal judges from blocking his policies, and US air strikes that led to a ceasefire between Israel and Iran.

His sprawling mega-bill narrowly passed the Senate on Tuesday and had to return to the lower chamber for its approval of the senators' revisions.

The package honors many of Trump's campaign promises: boosting military spending, funding a mass migrant deportation drive and committing $4.5 trillion to extend his first-term tax relief.

"Everything was an absolute disaster under the Biden-Harris radical regime, and we took the best effort that we could, in one big, beautiful bill, to fix as much of it as we could," Johnson said.

"And I am so grateful that we got that done."

But it is expected to pile an extra $3.4 trillion over a decade onto the country's fast-growing deficits, while shrinking the federal food assistance program and forcing through the largest cuts to the Medicaid health insurance scheme for low-income Americans since its 1960s launch.

Some estimates put the total number of recipients set to lose their insurance coverage under the bill at 17 million. Scores of rural hospitals are expected to close.

While Republican moderates in the House fear the cuts will damage their prospects of reelection next year, fiscal hawks chafed over savings that they say fall far short of what was promised.

Johnson had to negotiate tight margins, and could only lose a handful of lawmakers in the final vote, among more than two dozen who had earlier declared themselves open to rejecting the 869-page text.

Trump spent weeks hitting the phones and hosting White House meetings to cajole lawmakers torn between angering welfare recipients at home and incurring the president's wrath.

Democrats hope public opposition to the bill will help them flip the House in the 2026 midterm election, pointing to data showing that it represents a huge redistribution of wealth from the poorest Americans to the richest.

"This bill, this one big, ugly bill -- this reckless Republican budget, this disgusting abomination -- is not about improving the quality of life of the American people," House Minority Leader Hakeem Jeffries said.

After the bill was passed, Trump's predecessor, Joe Biden, said it was "not only reckless -- it's cruel."

Extra spending on the military and border security will be paid in part through ending clean energy and electric vehicle subsidies -- a factor triggering a bitter public feud between Trump and former key advisor Elon Musk.

L.Bartos--TPP