President Donald Trump will sign the “One Big Beautiful Bill Act” at a White House ceremony scheduled for 4 p.m. Eastern Time on Friday, the United States’ 249th Independence Day. The event is set to feature a fly-over of a B-2 stealth bomber and F-22 and F-35 fighter jets, underscoring the administration’s desire for a high-visibility celebration. House Speaker Mike Johnson, Senate Majority Leader John Thune and other members of Congress have been invited to attend.
The House of Representatives approved the nearly 900-page package late on 3 July by a narrow 218-214 margin after the Senate cleared its version earlier in the week. The vote delivered Mr. Trump the Independence Day deadline he sought for the signature achievement of his second-term domestic agenda.
The legislation permanently extends the 2017 individual and business tax cuts—an estimated $4.5 trillion over 10 years—raises the child tax credit to $2,200, and allows tipped workers to deduct up to $25,000 of tips and overtime through 2028. It also earmarks about $46.5 billion for additional border wall construction, $45 billion to expand immigrant detention capacity, and eliminates many clean-energy incentives adopted in 2022.
To offset part of the cost, the bill imposes new work requirements and more frequent eligibility checks for Medicaid and food-assistance recipients. The Congressional Budget Office projects that 11.8 million people could lose Medicaid coverage and estimates the measure would add roughly $3.4 trillion to the federal deficit while increasing the statutory debt ceiling by $5 trillion.
Republican leaders hailed the vote as proof of party unity, but all House Democrats and several GOP lawmakers opposed the package, and billionaire Elon Musk publicly warned it would deepen U.S. indebtedness. Despite the criticism, the White House is framing Friday’s signing—and the accompanying military pageantry—as the start of what Mr. Trump has called a “new Golden Age” for the country.