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Lawmakers Face Heated Voters on Tax Bill, Economy
Posted
August 4, 2025
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August 4, 2025
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7:55
7:51Now PlayingWisconsin Republican Congressman Bryan Steil discusses the heated reaction from his constituents to the 'One Big Beautiful Bill' and US trade policy as he holds town halls in his district.
Six months into his comeback term, Donald Trump has taken full ownership of the US economy. For better or worse, his party must now sell it to voters.
The president has hailed the world’s “hottest” economy – and found others to blame for any wobbles. When Friday’s jobs report showed a dramatic slowdown in hiring, he fired the head of the agency that published it. He’s pinned some frustrations on his predecessor Joe Biden, and continues to berate the Federal Reserve for what he considers too-high interest rates.
But for political purposes, his takeover has now been cemented — after passage of the “One Big Beautiful Bill” tax-and-spending law, and the latest phase of his global tariff rollout. Commerce Secretary Howard Lutnick trumpeted the transition: “The Trump Economy has officially arrived,” he posted on social media.
The question is whether Americans like it. Next year Trump’s economic record will be on the midterm ballot. Polls suggest voters are unhappy with the tariffs and tax plans — potentially giving Democrats an opening. The loss of GOP majorities in Congress could stall Trump’s legislative agenda and expose him to impeachment efforts, as it did in his first term.
The July employment figures, with job creation running at the weakest pace since the pandemic, were the latest indicator of a slowing economy. GDP shrank in the first quarter then rebounded in the second, as trade shifts skewed the numbers — but the overall pace in the first half of 2025 has been around half of last year’s, with consumers hitting the brakes amid trade-war uncertainty. Still, unemployment remains low and so far there’s been little sign of the tariff-led surge in prices that many pundits warn of.
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