The U.S. Senate has narrowly approved President Trump’s expansive “One Big Beautiful Bill Act,” a sweeping tax and spending package using budget reconciliation to bypass a filibuster. With the Senate tied 50–50, Vice President J.D. Vance cast the decisive vote in favor, advancing the bill. The legislation extends the 2017 Tax Cuts and Jobs Act, adds new breaks for tipped and overtime income, heightens standard deductions, and raises the child tax credit—though many of these remain temporary.

To offset spending, the bill proposes steep cuts to Medicaid and SNAP programs, reportedly pulling healthcare from over 10 million Americans. It also channels more than $100 billion toward immigration enforcement, including funding for deportations and detention, while phasing out green-energy incentives. The Congressional Budget Office indicates the bill would add approximately $3.3 trillion to the national debt and raise the federal debt ceiling by about $5 trillion.

Revised Senate provisions must now return to the House for final approval—with GOP leaders targeting a July 4 signature. Some moderate Republicans have expressed reservations, especially concerning Medicaid cuts, threatening potential delays. If passed, the bill would take effect immediately upon Trump’s signing, expected before Independence Day.