President Donald Trump’s massive tax and spending package crossed its final hurdle on Thursday (July 3) as the Republican-controlled House of Representatives narrowly approved the measure, delivering the President a major legislative win ahead of the July 4 Independence Day holiday.
The 218–214 vote capped a marathon push by Republicans to pass the $3.4 trillion bill, which will make Trump’s 2017 tax cuts permanent, deliver new tax breaks, and fund his immigration crackdown. The legislation also slashes healthcare and food assistance programs and repeals dozens of green energy incentives.
A thin margin
Despite deep concerns about the bill’s price tag and impact on healthcare, only two of the House’s 220 Republicans broke ranks to vote against it. Every Democrat opposed the measure, warning it would enrich the wealthy at the expense of working families.
“The focus of this bill, the justification for all of the cuts that will hurt everyday Americans, is to provide massive tax breaks for billionaires,” said House Democratic Leader Hakeem Jeffries, who staged an 8-hour, 46-minute speech — the longest in House history — to denounce the legislation.
The bill passed the Senate earlier this week on a 51–50 vote, with Vice President JD Vance casting the tiebreaker.
Massive debt impact
According to the Congressional Budget Office (CBO), the legislation will reduce tax revenues by $4.5 trillion over 10 years and cut spending by $1.1 trillion, resulting in a net addition of $3.4 trillion to the national debt, which now exceeds $36 trillion.
Cuts to Medicaid
Much of the spending reduction comes from cuts to Medicaid, which provides health coverage to 71 million low-income Americans. The bill imposes tighter enrollment standards, work requirements, and limits on state funding maneuvers — changes expected to leave nearly 12 million people uninsured.
To mitigate backlash, Republicans included $50 billion for rural health providers, aiming to prevent widespread hospital closures.
Republicans praise “Historic relief”
GOP lawmakers described the legislation as a generational achievement.
“Historic tax relief for working families. Massive investment to secure our nation’s borders. Capturing generational savings. Slashing waste, fraud, and abuse in government programs,” said Representative Virginia Foxx of North Carolina.
Trump himself aggressively lobbied lawmakers, posting on social media: “FOR REPUBLICANS, THIS SHOULD BE AN EASY YES VOTE. RIDICULOUS!!!”
Tax cuts
The bill locks in Trump’s 2017 tax cuts, which were set to expire at year’s end, preventing tax hikes for individuals and businesses. It also expands tax breaks for: Parents, Seniors, Tipped workers, Overtime pay, and Auto loans.
What’s next
Trump is expected to sign the measure into law, capping a two-week sprint that saw Republicans hold overnight debates and work through the weekend to meet the President’s Independence Day deadline.
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