Trump criticised Democrats for voting against the bill, “All Democrats, every single one of them, voted against these really important and very necessary, massive tax cuts.”
“They wanted large-scale tax increases to hurt the people instead,” the President said. “But we held strong and with the great big beautiful bill, we gave you no tax on tips, no tax on overtime and no tax on social security for our great seniors.”
Trump pointed to trade levies as a central pillar of his administration’s economic strategy. The President said the tariffs helped reverse what he previously characterised as a stagnant economy and declining global leverage, arguing they strengthened domestic industry and compelled trading partners to renegotiate agreements.
He also aimed at the Supreme Court of the United States, which recently invalidated several of his tariff actions. Calling the ruling “very unfortunate,” Trump made the remarks as four justices sat before him in the House chamber.
“Just four days ago, an unfortunate ruling from the United States Supreme Court. Very unfortunate ruling but the good news is that almost all countries and corporations want to keep the deal that they already made. Knowing that the legal power that I, as President, have to make a new deal could be far worse for them, and therefore, they will continue to work along the same successful path that we had negotiated before the Supreme Court’s unfortunate involvement,” Trump said.
“Countries that were ripping us off for decades are now paying us hundreds of billions of dollars… And yet these countries are now happy, and so are we. We made deals. The deals are all done, and they’re happy… There was no inflation, tremendous growth, and the big story was how Donald Trump called the economy correctly, and 22 Nobel Prize winners in economics didn’t. They got it totally wrong.
They got it really wrong. And then just four days ago, an unfortunate ruling from the United States Supreme Court. It just came down. Very unfortunate ruling, but the good news is that almost all countries and corporations want to keep the deal that they already made,” he added.
The US President also claimed the US markets had hit historic highs on the back of the Tariff structures before the US Supreme Court ruling.
“One of the primary reasons for our country’s stunning economic turnaround, the biggest in history, where the Dow Jones broke 50,000 four years ahead of schedule, and the S&P hit 7,000 where it wasn’t supposed to do it for many years, was tariffs. I used these tariffs, took in hundreds of billions of dollars to make great deals for our country, both economically and on a national security basis. Everything was working well,” he said.
The official theme of this year’s address is “America at 250: Strong, Prosperous and Respected.” Trump is expected to focus heavily on the economy, proposing new tax cuts and highlighting what he calls a resurgence in American prosperity during the first year of his second term.
In 2026, the United States marks its 250th anniversary, commemorating the signing of the United States Declaration of Independence on July 4, 1776. This milestone celebrates two and a half centuries since the thirteen colonies declared independence from the Kingdom of Great Britain and began a bold experiment in self-government.
As the United States reaches this historic milestone, the 250th anniversary serves as both a commemoration and a moment of renewal–honouring its history while looking ahead to its future. (ANI)
