The President of the United States, Donald Trump, has officially enacted a tax reform bill that received approval from both chambers of Congress, referring to it as the "Great Beautiful Law".

Source: Reuters

Details: The signing ceremony took place on the South Lawn of the White House during the Independence Day celebrations on July 4. Hundreds of Trump supporters attended, including administration officials, congress members, and military families. The event was enhanced by the presence of stealth bombers, similar to those involved in recent U.S. strikes on nuclear facilities in Iran.

During the signing ceremony, Trump stated that the law provides for "the largest tax cuts, the largest spending reductions, and the greatest investments in border security in U.S. history".

Following his speech, which included commendations about America’s growing strength under his leadership, Trump signed the bill, took photos with Republican leaders in Congress, and mingled with the crowd of enthusiastic supporters.

Quote: "The passage of this law is a significant victory for Trump and his Republican allies, who claim it will foster economic growth, while largely ignoring independent analyses that predict an increase in national debt by over $3 trillion to a total of $36.2 trillion".

Details: This outcome is an important win for Trump and the Republicans ahead of the upcoming elections. However, Democrats sharply criticized the bill, accusing the administration of catering only to the wealthiest Americans.

"Today, Donald Trump cemented the fate of the Republican Party, definitively establishing it as the party of billionaires and lobbying interests, rather than working families", – stated Ken Martin, Chair of the Democratic National Committee. 

"This bill will be a burden on Republicans for many years. It was a complete betrayal of the American people", – added Martin.