House Passes Trump's Tax and Spending Bill Amid Debt Concerns

The U.S. House approved a tax and spending bill supporting President Trump's agenda, potentially increasing national debt significantly. The bill, offering tax cuts and ending many green incentives, caused controversy as it seemingly favored wealthy individuals. It now faces potential amendments in the Republican-led Senate.

The Republican-led U.S. House of Representatives narrowly passed a comprehensive tax and spending bill supporting much of President Donald Trump's policy goals, despite deepening national debt concerns. The move pushes forward tax breaks, military funding, and immigration enforcement, while curtailing green-energy incentives from the previous administration.

Passed by a slim 215-214 margin, the legislation is predicted to add approximately $3.8 trillion to the U.S. debt over the next decade, according to the Congressional Budget Office. The bill, criticized for its perceived favoritism toward wealthy Americans, now moves to the Senate, controlled by Republicans, who plan to seek notable revisions.

While House Speaker Mike Johnson praised the bill as a generational achievement, Democrats decried it as disproportionately beneficial to the rich. As the country grapples with evolving fiscal challenges, the bill's journey through the Senate promises significant political battles ahead.

(With inputs from agencies.)