The US stock market opened lower but rallied on Thursday (22nd), with the Dow Jones Industrial Average reversing earlier losses following the House’s approval of President Trump’s tax reform bill, humorously dubbed the "Big and Beautiful" bill. Although the yield on 30-year US Treasury bonds reached its highest level since last year, it had minimal impact on the stock market. Trump expressed joy over the bill's passage in a social media post.

As of 10 PM Taiwan time, major US stock indices showed gains, with the Dow up by 32 points, NASDAQ up by 134 points (0.7%), S&P 500 up by 15 points (0.2%), and the Philadelphia Semiconductor Index rising by 28 points (0.6%). Notably, individual stocks saw NVIDIA rising 1.45%, TSMC’s ADR up 0.9%, and Tesla up 1.5%. Additionally, Alphabet, Google's parent company, saw a significant rebound of over 4% today.

The tax reform bill championed by Trump narrowly passed the House with a vote of 215 in favor to 214 against and now moves to the Senate for a vote. The bill proposes tax reductions as promised during Trump’s campaign, including exemptions on tip income and auto loans, as well as commitments to increase defense spending and border enforcement. According to estimates from the Congressional Budget Office, this bill could increase the US federal government’s current $36.2 trillion (approximately 1,086.72 trillion NTD) debt by $3.8 trillion over the next decade. Concerns about government debt had previously caused market anxiety, resulting in a sharp drop in the Dow, but stocks began to stabilize after the bill’s passage.

On his social media platform Truth Social, Trump declared that a "significant and beautiful bill" has passed the House, which he described as one of the most important pieces of legislation ever signed in US history. He highlighted the bill's provisions for large-scale tax cuts, tip tax exemptions, overtime tax exemptions, tax breaks for American-made car purchases, strong border security measures, increased funding for immigration enforcement, and special savings accounts for newborns. Trump commended the Speaker of the House and the Republican leadership, urging Senate colleagues to begin work on passing the bill to his desk promptly. He criticized Democrats for losing control and lacking confidence and resolve, stating that they have forgotten the painful lessons from their electoral defeats.