Donald Trump has introduced a new proposal in the US, which is ‘One Big, Beautiful Bill Act’. This is a bill, which is being discussed not only in America but also in the world. This bill is an attempt to make America’s 2017 tax cuts permanent. This is a comprehensive bill, which includes border security, expenses and taxes.
This bill also gives relief to many things, but is also creating controversy over some things. The topic of the most controversy is on putting 5 percent tax on sending money by the people of other countries living in America. Also, eliminate subsidies for things like renewable energy.
At the same time, some reports regarding this bill claim that this will increase the huge debt on America, the debt can increase by about 3.8 trillion dollars. Economy will also have a profound effect and more than 8.30 lakh jobs will be lost. At the same time, the bill of people living in America will also increase.
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This bill changes Biden’s decision
This bill of Trump will end the order of the Biden era, according to which there will be two-thirds of electric vehicles in the sales of the new car by 2032. The bill proposes to cut royalty rates paid by companies for extracting oil, gas and coal. Biden brought subsidy to promote things like renewable energy, but now everything is going to end with this bill. It will have a profound effect, especially on renewable energy sectors.
More than 830,000 jobs in danger
According to The Guardian reports, experts have expressed concern that the attempt made by Republican to eliminate the clean energy encourage will affect America on a large scale, as it will end more than 830,000 jobs, the energy bills for American houses will increase and millions of tons will be at risk of spreading, which is causing climate crisis.
Subsidy for renewable energy will end
Trump’s bill eliminates major elements of climate law signed by Biden, which promoted investment in renewable energy and electric vehicles across the US. The ‘Big, Beautiful’ bill can end the tax credit for electrian cars this year. Incentives for wind, solar energy and even nuclear power projects will gradually decrease and will be completely eliminated by 2032.
Bill harmful for America
The Guardian report claimed that this report is worse than your thinking. This can increase the expenses of the daily to hundreds of dollars and reduces any action on climate change. The report further states that you cannot tell how special it will be in weakening the US condition. This proposal should not have come with the increasing use of inflation, tariffs and electricity. This is a harmful bill for America.
There is also a threat to American economy
The Economics Times report states that these changes will reduce the US GDP in 10 years. The report said that the proposed bill is expected to increase energy bills. By 2035, the average family is expected to face an increase of more than $ 230 in energy bills.