Having passed the House earlier today, the One Big Beautiful Bill act (BBB) is headed for the president’s desk. Donald Trump plans to mark America’s birthday tomorrow by signing this profligate yet insubstantial bill into law. The BBB has been hailed as the signature legislative achievement of Mr Trump’s second term. That makes its lack of any distinct ideological underpinning all the more striking. It looks more like traditional tax-cutting, spending-slashing Republicanism than it does a MAGA fantasy. And it illustrates the long-term damage the president is doing to the foundations of America’s economy.
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