Trump signed a major Budget law just a day after Congress passed it, pushing through one of the most ambitious tax and spending reforms in recent US history
The law extends $4.5 trillion in tax cuts but slashes funds for healthcare and renewables. Tips are tax-free, but EV subsidies and welfare support face steep cuts
Tesla CEO Elon Musk criticised the Bill for undercutting clean energy. He joins other voices warning of long-term fiscal and environmental risks
The nonpartisan CBO expects the Bill to add $3.4 trillion to the deficit in a decade. By 2050, US debt could exceed 200% of GDP, depending on future spending
Trump has united the Republicans behind his agenda, overcoming internal opposition. It marks a rare moment of cohesion for a party long split on fiscal issues
Higher yields may trigger capital outflows from emerging markets. Worse still, if global investors lose faith in the US economy, it may shake financial stability