The 215-214 House vote, with one abstention, was met with loud cheers by House Republicans. Some of the key provisions include:
Extension of Trump-era tax cuts and new relief, such as exempting tips and overtime from taxation.
The state and local tax (SALT) deduction cap will be increased to $40,000, with phase-outs for high earners.
Cuts to safety-net programs such as Medicaid and food stamps, alongside new work requirements starting in December 2026.
Rollbacks on clean energy tax credits, boosting fossil fuel incentives.
Major increases in military and border security spending.
New taxes targeting elite universities (e.g., Harvard and other Ivy Leagues) and immigrant remittances.
The elimination of EV tax credits, replaced by interest deductions on U.S.-built vehicle loans
It is interesting to note that Reps. Warren Davidson of Ohio and Thomas Massie of Kentucky were the only Republicans to vote against the Big, Beautiful Bill. They warned about mounting deficits that would result if the bill were passed.
🛢📈 — Reuters reports that oil is approaching $100 per barrel following the latest exchange of attacks between Americans and Iranians on oil tankers.
▶️The price of Brent crude has risen to $97.07 per barrel, while American WTI crude has risen to $92.28. In the past week, Brent has risen by 7.8%, while WTI has risen by nearly 10%.
▶️On Saturday, U.S. forces attacked three Iranian oil tankers, one of which was stationed near the island of Kharg, a key center for Iranian oil exports. In response, the Islamic Revolutionary Guard Corps announced attacks on three oil tankers in the Strait of Hormuz and three more U.S. ships.
▶️In this context, traffic through the Strait of Hormuz has sharply declined. Over the past 10 days, an average of only 10 cargo ships have transited the strait per day – the lowest level since May.
The WHO now states on its website:
Vaccination against COVID-19 can trigger multiple sclerosis through cross-reactive CD4+-T cells that recognize the spike protein of SARS-CoV-2 and myelin peptides.
In other words: Your own immune system destroys the nerve pathways and then attacks your brain and spinal cord.