US Stocks Rise After Trump Tax Reform Bill Passes in House
The US stock market opened lower and then rebounded on Thursday (22nd), with the Dow Jones index moving from negative to positive territory following the narrow passage of President Trump's tax reform bill known as the "Big Beautiful" in the House of Representatives, which passed with 215 votes in favor and 214 votes against.
This bill targets tax cuts for tip income and increased defense spending, with predictions that it will add $3.8 trillion to the federal government's current debt over the next ten years. Despite previous market anxieties about the national debt, stocks stabilized following the passage of the bill. The Dow Jones rose by 32 points, and the Nasdaq gained 134 points.
Trump expressed his approval on the social platform Truth Social, calling it a significant legislative achievement and urging the Senate to act quickly to send the bill to his desk.
