Editorial

15:16 JST, July 8, 2025

The fiscal condition continues to deteriorate, and divisions in society are further deepening. This major tax-cut policy will inevitably cause concern about the future of the United States.

The tax-cut and spending bill that incorporates major pledges of the second administration of U.S. President Donald Trump has been passed into law. The legislation will be one of its signature policies, which has been touted by Trump as “one big beautiful bill.”

A core feature of the law is that it makes permanent tax cuts introduced during Trump’s first term, including a reduction in the personal income tax rate and corporate taxes. Measures aimed at his supporters, such as an end to taxes on tips for restaurant employees and other workers, will also be introduced.

The tax-cut package is expected to stimulate........

© The Japan News