Tesla shares plunged around 7 per cent in pre-market trading after Elon Musk announced the launch of a new U.S. political party, dubbed the “America Party”, and reignited a public feud with former President Donald Trump.
Browsing: One Big Beautiful Bill
The U.S. House of Representatives narrowly voted 219–213 late Wednesday to advance the Senate-passed version of former President Trump’s sprawling “One Big Beautiful Bill” (OBBBA) via the Rules Committee – clearing the way for a full floor vote by July 4.
The passage of the ‘One Big Beautiful Bill Act’ signals a significant legislative achievement for Trump, fulfilling many of his campaign promises, particularly around immigration and military spending.
The U.S. Senate narrowly approved Donald Trump’s flagship tax-and-spending package, now called the One Big Beautiful Bill, with Vice President JD Vance breaking a 50–50 tie following three Republican defections.
Divided Opinions: The “big, beautiful bill” has ignited significant debate in Congress, with both ambitious proposals and political infighting surrounding it.
(Thursday, 3 July 2025) – Trump’s One Big Beautiful Bill has passed the Senate and now the House after being held up in Congress over concerns about the impact on national debt and healthcare.
Trump’s online feud with former bestie Elon Musk continues to escalate as Trump threatens to deport Musk.
USAID has officially closed its doors after President Donald Trump gradually dismantled the agency over its allegedly wasteful spending.
Elsewhere, the mixed verdict from the P Diddy trial sent shockwaves across the world.
In the first half of 2025, the US dollar has suffered its worst decline since 1973, plunging roughly 10.8% against a basket of major currencies.
Senators voted 51–49 to begin debate on President Trump’s sweeping legislative package, officially known as the One Big Beautiful Bill, which combines large tax cuts, expanded defence and border spending, and deep reductions to Medicaid, SNAP and green energy programmes.
Analysts warn that Section 899 of the “One Big Beautiful Bill”—Donald Trump’s proposed retaliatory tax on foreign entities—could deter investment by imposing a tax starting at 5 %, rising to 20 %, on companies from countries that levy “unfair” taxes on US entities.