"Big Beautiful Bill": Why Trump's political victory will have only a limited effect on growth
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DECRYPTION - Tax cuts and spending reductions will have a small impact on GDP, economists predict. However, at the cost of soaring public debt.
The political impact of the passage of Donald Trump's "great and beautiful law" is considerable . In Washington, the president's prestige and credibility have been enhanced. Congress today enshrined the Republican candidate's November 5 election victory with a sweeping bill.
The bulk of his campaign promises, not only regarding taxing Americans' income, but also increasing military spending and combating illegal immigration, are contained in the nearly 900-page text. Over the next four years, for example, $46.5 billion will be dedicated to building the wall designed to prevent illegal immigrants from entering the United States. An equivalent amount will be devoted to building detention centers for undocumented immigrants.
The abandonment of aid for the energy transition, the commitment to stimulate investment in oil and gas exploitation, and to boost investment...
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