Donald Trump, US President.
Washington: President Donald Trump has given a big gift to American people to discount and reduction in expenditure. Taking into account the agenda of President Donald Trump, the tax exemption of trillion dollars and the outline of spending deduction was passed by the upper house of Parliament late Friday, despite the opposition’s strict opposition. The Senate in its marathon meeting passed the proposal made by the Trump administration by a close margin of 51-48.
Democratic MPs strongly opposed it but the Republican Party was heavy. The incident occurred at a time when the US economy has turned out to be in turmoil after Trump’s fee schemes. There has been a major decline in the stock market and the possibility of rising costs and potential recession for domestic consumers has increased. Some MPs from Trump’s party have also expressed concern over the scheme. However, due to the approval of the Trump’s expenditure deduction, the approval of the Senate has paved the way for passing the tax deduction bill from both houses of Parliament.
Accused of tax deduction of more than $ 5 lakh crore
Democrats accused Republican of cutting social security programs such as medical help and nutrition aid to pay tax deduction of more than five million million dollars. However, the Republican Party described its move as an attempt to prevent tax growth for most American families. Now this outline will be pace in the lower house of Parliament, where speaker Mike Johnson can bring it to vote next week. (AP)
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