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@WGNNewsRepublicans muscled President Trump’s tax and spending cut bill through the House Thursday. But what’s in the bill and when do some of its provisions go into effect?
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US House Sends Trump’s $4.5 Trillion ‘Big Beautiful Bill’ to Desk
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The U.S. House of Representatives narrowly approved President Donald Trump’s “One Big Beautiful Bill” on 3 July, voting 218–214 after the Senate cleared the measure 51–50 earlier in the week. The vote completes congressional action on the sweeping tax-cut and spending package, and the White House says Trump will sign it on Independence Day at 5 p.m. Washington time.
Costing an estimated $4.5 trillion over ten years, the 887-page legislation makes permanent the individual and corporate tax reductions first enacted in 2017 and adds fresh breaks, including the removal of levies on tips and overtime pay. It also directs roughly $150 billion each to border security and the military, while scrapping many climate-related incentives and expanding fossil-fuel subsidies.
The bill offsets some of its new spending with deep cuts to Medicaid, nutrition assistance and other social-safety-net programmes. Even so, the non-partisan Congressional Budget Office estimates the package will swell federal deficits by $3.3-$3.4 trillion over the next decade, raise the statutory debt ceiling by $5 trillion and leave up to 12 million people without health coverage.
Republican leaders spent days corralling votes amid resistance from fiscal hawks worried about ballooning debt and moderates uneasy about benefit cuts. Only Representatives Thomas Massie of Kentucky and Brian Fitzpatrick of Pennsylvania broke ranks, while Democrats opposed the bill unanimously. Minority Leader Hakeem Jeffries delayed the final vote with an 8-hour-45-minute speech, the longest in House history.
Passage hands Trump a marquee legislative victory midway through his second term and delivers the foundation for his “America First” economic agenda. Investors and ratings agencies are now assessing how the larger-than-forecast deficits could influence Treasury issuance, inflation and broader economic conditions.
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