Washington's giant bill passes with big cuts, but what's the cost? Hello, this is the Marketplace

Morning Report and we're live from the BBC World Service. I'm Leanna Byrne. Good morning. The so-called

big, beautiful bill, nearly a thousand pages long, has squeaked through Congress by just four

votes. It boosts military and border spending, extends Trump-era

tax cuts, but makes deep cuts to health care and food aid. So what does that mean for the U.S.

economy? Here's the BBC's Aaron Delmore. This bill contains one unambiguous piece of good news

for the markets. That's because it has a provision that increases America's infamous debt

ceiling, the law which places a limit on how much money the government can borrow. It had been

the case that the Treasury was due to crash through the debt ceiling in August or September. Now

that's been pushed back by a couple of years. And any threat of an imminent default, however

unlikely, has gone away, but it's estimated that

it will cause America's long-term debt to grow by $3.4 trillion over the next decade. That is bad

news for the U.S. bond market. Yields rose on Thursday after the bill's passage, and when yields

rise, prices drop. U.S. Treasuries have seen demand decline as fiscal concerns

rise. Tax revenue in the U.S. is estimated to fall by $4.5 trillion over the next decade, while

corporate earnings and stocks are projected to boom. Stocks rose on Thursday, and the S&P 500 and

the NASDAQ hit new record highs,

buoyed also by strong new jobs data.

Erin Delmore there.

Meanwhile, President Trump signed an order to charge foreign visitors more to enter U.S. national parks.

The move aims to raise funds for crumbling infrastructure and new attractions.

About a third of park visitors are from overseas. To the UK now,

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