Larry Summers doesn't see much to love in the sweeping tax and budget bill President Donald Trump signed into law over the holiday weekend. "There is no economist anywhere, without a strong political agenda, who is saying that this bill is a positive for the economy," Summers said. After weeks of deliberation, the One Big, Beautiful Bill Act recently passed in the House of Representatives, with Trump signing it into law on July 4. "The House bill addresses none of the nation's key economic challenges usefully and exacerbates many of them." The American Bankers Association has praised the bill, arguing that it could boost economic growth in the near term.