The "Massive Tax and Spending Bill" (referred to as the "Big and Beautiful" bill) heavily pushed by the Trump administration in the United States is an upgraded version of the 2017 tax reduction policy. The core content includes a $4 trillion tax cut over the next ten years, a reduction of over $1.5 trillion in social welfare such as Medicaid, and an increase in military spending and the debt ceiling by $5 trillion. The bill passed a procedural vote in the Senate on June 28 with a vote of 51:49, and it is expected to complete the legislative process before July 4. The Democrats criticized it as "robbing the poor to pay the rich," while there were also divisions within the Republican Party over fiscal sustainability, leading three senators to vote against it. Tesla CEO Musk has repeatedly criticized the bill for "destroying jobs and exacerbating the debt crisis," threatening to form another political party if it passes. Analysts point out that the bill could raise the U.S. debt-to-GDP ratio to 125%, intensifying social inequality and economic risks.