The House of Representatives of the US Congress has approved a bill initiated by President Donald Trump, which provides for significant changes in the country’s tax policy. The day before, the document was supported by the Senate, informs CNN.
Exactly 218 congressmen voted for the law — the minimum required number of votes. Two Republicans and all Democrats opposed. It was Trump’s first major legislative achievement in his second term as president. After approval by both chambers, the draft law was submitted to the head of state for signature.
According to White House spokeswoman Caroline Leavitt, the signing of the document is scheduled for July 4 at 5:00 p.m. on Independence Day at the White House.
The 940-page “One Big Beautiful Bill” was passed by the Senate on July 1, 2025. It is a key initiative of the Trump administration and includes permanent tax breaks for businesses and families, elimination of taxes on tips and overtime pay, and new tax credits, particularly for American automakers.
In addition, there are significant cuts to social programs, Medicaid and SNAP funding. The Congressional Budget Office projects that more than 12 million Americans could lose health insurance by 2034.
In the field of defense and immigration, the document provides for the allocation of $170 billion for strengthening the border and immigration control, as well as $160 billion for defense needs, including the project of the new “Golden Dome” anti-missile defense system. The draft law also raises the state debt ceiling by $5 trillion, and the expected increase in the budget deficit over ten years is $3.3 trillion.
It is known that in May, Elon Musk left the administration, ceasing participation in government work. His decision was prompted by harsh criticism of Trump’s tax initiative, which he called “destructive” and one that would “destroy jobs.”
