$4 TRILLION Later—Is This Trump’s Most Ambitious Economic Overhaul Yet?

WASHINGTON, D.C. — President Donald Trump is expected to sign the “One Big Beautiful Bill Act” today at 4 p.m. EDT during a high-profile Independence Day ceremony at the White House, capping off a dramatic week of legislative maneuvering. The nearly 900-page bill passed the House on July 3 by a narrow 218–214 vote, following a tie-breaking vote in the Senate earlier this week.

The legislation includes $4 trillion in tax cuts, permanent extensions of the 2017 Tax Cuts and Jobs Act, work requirements for Medicaid and SNAP, expanded SALT deductions, $100 billion for border security, and excise tax relief for tips and overtime. Supporters say it will supercharge the economy and reduce regulatory burdens. Opponents warn it will strip vital support from vulnerable Americans while ballooning the national debt.

The Congressional Budget Office estimates the bill will add $3.4 trillion to the debt over the next decade. Former Senate Budget analyst Bobby Kogan described it as “a Robin Hood in reverse.” House Minority Leader Hakeem Jeffries delivered a marathon 8-hour, 44-minute speech condemning the bill as “a crime scene” for American healthcare. Meanwhile, Speaker Mike Johnson celebrated its passage with fanfare, blaring “YMCA” and presiding over a ceremonial desk signing.

Lawmakers offered sharply divided reactions:

• Sen. Patty Murray (D-WA) called it “the largest transfer of wealth from people who have the least to the people who have the most in our nation’s history.”

• Rep. Don Knott (R-NC) praised the bill as a “historic victory” that delivers on national defense, border enforcement, and tax relief for working families.

• Sen. Alex Padilla (D-CA) condemned the bill as “a theft from working families,” citing projected losses in Medicaid coverage and clean energy jobs.

• Sen. Mike Crapo (R-ID) defended the bill as “the most significant spending reduction in history,” claiming it will reduce the deficit by $400 billion over ten years.

• Rep. Mikie Sherrill (D-NJ) said the bill “rips apart the foundation of the American Dream,” accusing Republicans of prioritizing billionaires over working families.

Trump’s signing ceremony is expected to feature fireworks, military flyovers, and a full media blitz. “There could be no better birthday present for America,” Trump said Thursday night in Iowa, “than this phenomenal victory.”