US President signs annual budget law

WAM
05 Jul 2025, 14:24 GMT+10

WASHINGTON, 5th July, 2025 (WAM) -- US President Donald Trump has signed the annual budget law, following its approval by the House of Representatives with a narrow majority of 218 votes to 214, coinciding with the 249th anniversary of US Independence.

The law includes an increase in military spending, the extension of tax cuts worth US$4.5 trillion, and the allocation of funding for the deportation of undocumented immigrants.

Conversely, it introduces cuts to the federal food assistance programme and limits the scope of the Medicaid health insurance scheme for low-income individuals. Estimates suggest that around 17 million people may lose their health coverage as a result.

The US President described the law as a major achievement.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Baton Rouge Post.

More Information

null in null

Business

Section

Stocks worldwide struggle to make ground Friday with Wall Street closed

LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...

Nvidia briefly tops Apple’s record in AI-fueled stock rally

SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...

ICE raids leave crops rotting in California, farmers fear collapse

SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...

Trump signals progress on India Trade, criticizes Japan stance

WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...

Grammarly acquires Superhuman to boost AI workplace tools

SAN FRANCISCO, California: Grammarly is doubling down on AI-powered productivity tools with the acquisition of Superhuman, a sleek...

Standard and Poor's 500 and and Nasdaq Composite close at record highs

NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European...

World

Section