Trump’s one big beautiful bill could lift economy, says banks

The Senate passed the One Big Beautiful Bill Act with a narrow 51-49 vote, introducing significant tax reforms aimed at boosting economic growth.

Supporters, including the American Bankers Association, highlight the need for tax relief, while others express concerns over the projected 3 trillion USD federal deficit increase.

Economists foresee short-term economic benefits, but caution against long-term repercussions due to rising national debt, complicating future fiscal management.