The signing took place Friday evening during a highly orchestrated Fourth of July event, complete with a military family picnic, a flyover by a B-2 Spirit stealth bomber and two F-35 jets, and the annual fireworks on the National Mall. Trump, surrounded by Republican lawmakers including House Speaker Mike Johnson and Majority Leader Steve Scalise, called the legislation “the greatest victory yet” of his administration and declared, “We have officially made the Trump tax cuts permanent. This represents the largest tax reduction in our nation’s history.”
Also read: How did the big beautiful bill become a law: complete process
The bill’s passage was a narrow victory: it cleared the Senate on Tuesday by a 51-50 vote, with Vice President JD Vance breaking the tie, and passed the House Thursday on a 218-214 vote, almost entirely along party lines. Trump had insisted on a July 4 deadline, and the legislation was delivered just hours before his self-imposed cutoff.
What’s in the bill?
The legislation extends the expiring 2017 Trump tax cuts, making them permanent. The White House touts this as a boon for economic growth, with Trump promising, “Once this takes effect, our economy is going to soar.” However, independent analysts and the Congressional Budget Office estimate the package will add over $3 trillion to the federal deficit over the next decade and could leave nearly 12 million more Americans without health insurance.
Key provisions include:
- Tax Cuts: Permanent extension of 2017 tax reductions, primarily benefiting high-income earners.
- Social Safety Net Cuts: Reductions of $1.2 trillion to Medicaid and food stamp programs (SNAP), including new work requirements for Medicaid recipients.
- Immigration Enforcement: Increased funding for border security and the construction and maintenance of migrant detention centers.
- Event Funding: The bill sets aside $200 million for events celebrating America’s 250th anniversary next year.
While Trump and his allies celebrated what he called “the single most popular bill ever signed,” polls show the legislation is deeply unpopular with the public, particularly due to its cuts to health and food assistance for low-income Americans and the projected increase in national debt. A Washington Post/Ipsos poll found that while many support expanding the child tax credit, most Americans oppose the bill’s reductions in food aid and Medicaid, and 60% find the expected $3 trillion deficit increase “unacceptable.”
