Spending bill key to US economic boom: Trump

US President Donald Trump

US President Donald Trump stated that the spending and tax bill he supports would rank among the most successful pieces of legislation in American history.

In a post on Truth Social today, July 2, Trump stated that trillions of dollars have begun flowing into the US economy in the form of investments, emphasizing that the country is witnessing unprecedented financial inflows.

He added that these strong inflows coincide with the collection of hundreds of billions of dollars in tariffs, which he described as hitting record highs and boosting federal government revenues.

Trump explained that the US is growing at an unexpectedly rapid pace. He added that such growth should help the country recover from the economic turbulence caused by former President Joe Biden’s administration.

He stressed that passing the new spending bill is key to achieving an economic boom that surpasses that of competing nations.