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Trump signs sweeping One Big Beautiful Bill into law, enacts major tax cuts and deportation drive

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Donald Trump

US President Donald Trump has signed into law his flagship legislation, dubbed the “One Big Beautiful Bill,” coinciding with the United States’ 249th Independence Day celebrations. The nearly 900-page legislation, passed with the support of Republican leaders in Congress, aims to fulfill a series of promises made during Trump’s presidential campaign — including extending tax cuts, reinforcing immigration enforcement, and bolstering military strength.

Major tax reforms and business incentives

At the heart of the new law is a massive $4.5 trillion package of tax cuts aimed at both individuals and businesses. With previous Trump-era tax reductions set to expire by year-end, this legislation makes many of those cuts permanent. New deductions have also been added — including ones for overtime pay, tipped income, and auto loan interest.

Seniors earning under $75,000 annually will receive a $6,000 deduction, while the child tax credit will increase from $2,000 to $2,200, although lower-income families may not benefit fully. The cap on state and local tax deductions has been raised to $40,000 for five years.

Businesses stand to gain substantially, with 100% immediate write-offs for equipment and research spending. However, critics point out that the wealthiest households will see an average tax benefit of $12,000, while the poorest could lose $1,600 per year due to cuts in welfare programs.

Border wall funding and aggressive deportation plans

Trump’s bill allocates $350 billion to his border security initiatives, which include expanding the U.S.-Mexico border wall and increasing migrant detention capacity to 100,000 beds. The legislation also funds 10,000 new Immigration and Customs Enforcement (ICE) agents, each receiving a $10,000 signing bonus, and a surge in Border Patrol recruitment.

Additionally, new fees will apply to immigrants, especially those applying for asylum, as part of the financial framework supporting Trump’s aim of deporting up to one million individuals annually.

Increased defence spending and missile shield development

The Pentagon receives a major funding boost for naval shipbuilding, weapons development, and personnel welfare. The bill also designates $25 billion for the early development of a U.S.-based “Golden Dome” missile defense system, modeled after Israel’s Iron Dome. The system is expected to be operational by 2029, with an estimated total cost of $175 billion.

Deep cuts to Medicaid and food assistance

In a controversial move, the legislation enforces strict new eligibility criteria for social welfare programs. Adults up to age 65 will need to work at least 80 hours a month to qualify for Medicaid or food stamps, even parents of teenagers. A new $35 co-payment may also be charged to Medicaid users. Planned Parenthood and similar providers that offer abortion services are temporarily barred from receiving Medicaid reimbursements for a year.

The Congressional Budget Office estimates that over the next decade, the bill will increase the federal deficit by $3.3 trillion.

Energy policy rollbacks and space funding

Tax incentives for renewable energy projects have been significantly cut, including an early expiration for electric vehicle tax credits now set for September 30, 2025, rather than 2032.

Conversely, funding has been approved for ambitious space programs, including billions for NASA’s Artemis moon mission and exploration of Mars. The bill also provides $88 million for pandemic response oversight and includes a $5 trillion hike to the national debt ceiling.

Other key provisions

The legislation introduces “Trump Accounts,” a new federal savings initiative for children, with a $1,000 initial deposit. It also imposes a 1% excise tax on money transfers abroad and on university endowments, while eliminating taxes on gun silencers and short-barreled firearms.

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Byju’s founder Byju Raveendran sentenced to six months in jail by Singapore court over asset orders

In a major setback, a Singapore court has sentenced Byju’s founder Byju Raveendran to six months in prison for contempt after he failed to comply with multiple court orders regarding his assets.

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In a massive legal blow to the founder of the failed Indian educational technology firm Think & Learn Pvt (better known as Byju’s), a Singapore court has sentenced Byju Raveendran to six months in jail for contempt of court.

The court ordered the jail term after concluding that Raveendran had deliberately disobeyed multiple judicial directives regarding his personal assets, dating as far back as April 2024.

Disobedience of asset orders leads to prison sentence

According to people familiar with the matter, the Singapore court has instructed Raveendran to immediately surrender himself to the officials. Alongside the six-month prison sentence, the Byju’s founder has been ordered to pay legal costs amounting to S$90,000 (approximately $70,500). Furthermore, he has been mandated to provide documents verifying his official legal ownership of Beeaar Investco Pte, a corporate entity that holds equity shares in a related firm.

At the time of reporting, it remains unclear whether Raveendran is currently residing in Singapore or located elsewhere, and he did not immediately respond to requests for comment.

Escalating global legal battles

This sentencing marks the latest and perhaps most severe setback for the entrepreneur, who once achieved billionaire status amid a massive wave of global capital flowing into Indian start-ups. Today, Raveendran is being rigorously pursued by foreign investors across international jurisdictions. This includes intensifying legal battles in the United States, where global lenders are actively trying to recover heavy financial losses stemming from a defaulted $1.2 billion loan.

Media reports indicate that the ongoing Singapore court proceedings represent a broadening web of legal and financial crises following the operational collapse of the once-celebrated edtech giant.

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US hits Iranian missile sites and mine-laying boats near Strait of Hormuz amid peace talks

US Central Command executed targeted strikes against Iranian missile launch sites and mine-laying vessels near Bandar Abbas, testing a fragile ceasefire even as high-stakes diplomatic talks continue in the region.

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In a major development testing a fragile regional ceasefire, the United States military carried out targeted strikes in southern Iran on Monday. The operation hit missile launch sites and vessels allegedly attempting to lay mines near the crucial Strait of Hormuz, according to statements from the US Central Command (CENTCOM).

The military action took place near Bandar Abbas, a prominent southern port city hosting a primary Iranian naval base. Media reporting indicated that explosions were heard across multiple coastal locations, including Sirik and Jask.

Focus on ‘Self-Defense’ Amid Active Ceasefire

A spokesperson for CENTCOM, Capt. Tim Hawkins, confirmed that the engagement was defensive in nature. “US forces conducted self-defense strikes in southern Iran today to protect our troops from threats posed by Iranian forces,” Hawkins stated. He noted that the operational targets included active missile launch sites alongside Iranian boats attempting to emplace naval mines. Despite the escalation, CENTCOM emphasized that it continues to exercise restraint under the parameters of the ongoing ceasefire brokered in early April.

According to media reports, the tactical response was triggered when two Islamic Revolution Guard Corps (IRGC) boats were detected laying mines in the strategic shipping lane. Additionally, a surface-to-air missile site reportedly targeted American warplanes, prompting US forces to neutralize both the vessels and the missile installations. Media channels citing local updates indicated that four individuals were killed in the strikes, though the complete casualty figures remain unverified.

Diplomatic Dialogue Continues in Parallel

The strikes coincide with a critical phase of diplomatic negotiations aimed at extending the current truce. Top Iranian negotiators traveled to Qatar early this week to discuss a potential 60-day extension of the ceasefire, alongside provisions to keep the Strait of Hormuz fully operational for global trade.

US officials maintain that the military action does not signal an end to the active truce. A senior administration source clarified that the specific operations are “over for now”. US Secretary of State Marco Rubio, speaking from India, affirmed that diplomatic channels remain open and active. Rubio stated that intensive language discussions regarding the initial documents are ongoing, reiterating that the opening of the strategic strait remains a core objective.

Meanwhile, political leaders in Washington have separately reiterated demands for the secured disposal or international transfer of enriched uranium stockpiles as part of any comprehensive long-term agreement.

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US announces new America First visa schedule to boost business ties with India

During his official state visit to New Delhi, US Secretary of State Marco Rubio announced a new America First visa schedule designed to prioritise business professionals and boost bilateral trade efficiency.

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In a significant development aimed at strengthening bilateral cooperation, the United States has introduced a new “America First” visa schedule. The policy update was announced by US Secretary of State Marco Rubio during his official four-day visit to India. The new schedule is specifically designed to prioritise business professionals who play a key role in fortifying trade and strategic connections between the two nations.

Speaking about the initiative in the national capital, the top US diplomat clarified that the updated framework will not only assist visa applicants but will also significantly enhance operational productivity for the diplomatic mission. “We’re introducing a new America First visa schedule that prioritises business professionals that strengthen these ties,” Rubio stated. He added that the arrangement will enable the system to process applications with greater accuracy, speed, and efficiency.

Focus on Indo-Pacific and regional security

The announcement coincided with high-level discussions between the visiting diplomat and Prime Minister Narendra Modi. The meeting, which lasted for over an hour, covered critical areas of bilateral interest, including trade, energy security, strategic technologies, defence cooperation, and the ongoing West Asia crisis. During the interaction, Rubio extended an official invitation from US President Donald Trump for PM Modi to visit the White House in the near future.

The US Secretary of State described the partnership between New Delhi and Washington as a foundational cornerstone of America’s overarching strategy for the Indo-Pacific region. Highlighting India’s central role, Rubio noted that his very first official engagement upon taking office was a meeting of the Quadrilateral Security Dialogue (Quad), emphasizing that hosting the upcoming foreign ministers’ meeting in India acts as a tangible sign of the deep commitment to this framework.

Clarification on immigration rules

Addressing separate concerns regarding recent shifts in American immigration policies, the top diplomat provided a crucial clarification regarding the new guidelines for permanent residency. Media reports had previously highlighted anxieties surrounding a newly instituted rule that requires many legal immigrants to exit the US and apply for green cards from their home countries.

Rubio explicitly stated to the media that these measures are universal regulatory updates rather than policy shifts targeted at any specific nation. He reassured that the rule is applicable globally to all international applicants and is not directed exclusively at Indian citizens.

The visit marks Rubio’s first official trip to India since assuming office. His comprehensive itinerary began in Kolkata and includes a scheduled bilateral dialogue with External Affairs Minister S Jaishankar, alongside participation in the Quad Foreign Ministers’ meeting alongside international counterparts.

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