President Donald Trump just scored a major win for himself as Congress passed his spending bill. After an exhausting session on Capitol Hill, the House of Representatives passed the bill by a vote of 218 to 214 on Thursday afternoon. It was approved in the Senate on Tuesday by one vote.
Speaking to reporters on Thursday evening, Trump said the bill would “turn this country into a rocket ship.”
“This is going to be a great bill for the country,” he said.
Republican Speaker Mike Johnson said, “I believed in the people that are standing here behind me… Some of them are more fun to deal with,” he said. “I mean that with the greatest level of respect.”
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The Congressional Budget Office estimates the bill could add $3.3 trillion to federal deficits over the next 10 years and leave millions without health coverage — a forecast that the White House disputes.
The “One Big, Beautiful Bill” is a sweeping Republican-led legislative package aimed at permanently extending the 2017 Trump tax cuts while introducing new tax breaks and substantial budgetary shifts.
The bill includes provisions to eliminate taxes on tips and overtime, raise the child tax credit, increase the SALT deduction cap, and expand deductions for seniors. It also significantly boosts funding for defense and border security, including renewed border wall construction. However, it enacts deep cuts to social programs like Medicaid and SNAP by tightening eligibility and imposing work requirements, moves projected to affect millions of low-income Americans.
It also delivers on two of Trump’s major campaign promises — making his 2017 tax cuts permanent and lifting taxes on tips, overtime and Social Security recipients — at a cost of $4.5 trillion over 10 years.
Supporters claim the bill will spur economic growth, increase take-home pay, and improve national security. Critics warn it disproportionately benefits wealthier households, undermines healthcare and food assistance for vulnerable populations, and adds an estimated $2.5 trillion to the national debt over ten years.
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The Senate-passed version now heads back to the House for final reconciliation, with contentious disagreements over child credit amounts and entitlement cuts still unresolved. With a self-imposed July 4 deadline, the bill’s final passage will test Republican unity and could have far-reaching impacts on the U.S. economy, federal deficit, and social safety net.
About $150 billion will be spent on border security, detention centres and immigration enforcement officers. Another $150 billion is allocated for military expenditures, including the president’s “gold dome” missile defence programme.
The passing of this bill may reflect a broader move toward smaller government, stronger border enforcement, and pro-growth economic strategies. Supporters see it as a path to increased prosperity and national security, while critics warn of growing inequality, rising debt, and harm to vulnerable populations. As the bill reshapes federal spending priorities, its long-term impact will be felt across the economy and society—defining the direction of the country under current leadership and setting the stage for future political and economic debate. As the nation braces for the ripple effects, the bill’s passage marks a pivotal moment that could redefine the American social contract for generations to come.