‘One Big Beautiful’ Bill: Trump’s multitrillion-dollar tax and spending bill clears House

In a major legislative win for President Donald Trump, House Republicans on Thursday passed a sweeping multitrillion-dollar tax breaks and spending cuts package — a centrepiece of his second-term agenda — just ahead of the Fourth of July deadline. The bill cleared the lower chamber in a tight 218-214 vote, with two Republicans breaking ranks to join all Democrats in opposition, AP reported.

The overnight drama in the Capitol saw GOP leaders working the floor and Trump personally lobbying key holdouts to ensure the bill’s passage. The effort was met with strong resistance from Democrats, with House Minority Leader Hakeem Jeffries stalling the vote for more than eight hours with a record-breaking speech against the measure.

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Trump, speaking in Iowa during celebrations to kick off the nation’s 250th anniversary events, hailed the House action as a signature victory. “I want to thank Republican congressmen and women, because what they did is incredible,” he said, adding, “they hate Trump — but I hate them too.”

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The bill, expected to be signed by the president on Friday at the White House, consolidates a host of conservative priorities into what Republicans proudly described as Trump’s “one big beautiful bill,” stretching nearly 900 pages.

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“You get tired of winning yet?” House Speaker Mike Johnson, R-La., said during the floor debate. “With one big beautiful bill we are going to make this country stronger, safer and more prosperous than ever before.”

Following the vote, Republican lawmakers celebrated with a rendition of the Village People’s “Y.M.C.A.” — a nod to Trump’s rally playlist.

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Key provisions: Tax cuts, defence, and welfare rollbacks

A major part of the bill is the extension of Trump-era tax breaks worth $4.5 trillion, first introduced in 2017 and set to expire soon. It also includes new tax benefits, such as deductions for tips and overtime pay, and a $6,000 deduction for most older adults earning under $75,000 a year.

The bill also allocates $350 billion for national security, immigration enforcement, and the development of the “Golden Dome” missile defence system over the United States.

Cuts to Medicaid, food aid draw sharp criticism

To recover some of the lost tax revenue, the bill includes $1.2 trillion in cuts to Medicaid and food stamp programmes. It brings in stricter work requirements, including for some parents and older adults, and significantly reduces green energy tax incentives.

The nonpartisan Congressional Budget Office estimates that the package will add $3.3 trillion to the federal deficit over the next ten years and result in 11.8 million more people losing health coverage.

(With inputs from AP)