Trump signs signature tax-cut and spending bill into law

Democrats say legislation will knock poor off health care while rich get tax cuts

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U.S. President Donald Trump presents the sweeping spending and tax legislation known as the "One Big Beautiful Bill Act," after he signed it, at the White House in Washington on July 4. © Reuters

WASHINGTON (Reuters) -- U.S. President Donald Trump signed into law a massive package of tax and spending cuts in a ceremony at the White House on Friday, one day after the Republican-controlled House of Representatives narrowly approved the signature legislation of Trump's second term.

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