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2w ago

House Republicans Race to Pass Trump’s $4.5 Trillion Tax-and-Spending Bill

Speaker Mike Johnson advanced the Senate version through the Rules Committee, with GOP holdouts threatening to defeat the measure ahead of the July 4 deadline.

US Capitol dome on June 29, 2025, as US President Donald Trump's Big Beautiful Bill continues through the Senate. US senators debated into the early hours of Sunday Donald Trump's "big beautiful" spending bill, a hugely divisive proposal that would deliver key parts of the US president's domestic agenda while making massive cuts to social welfare programs. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)
Speaker of the House Mike Johnson speaks to the press, as Republican lawmakers struggle to pass U.S. President Donald Trump's sweeping spending and tax bill, on Capitol Hill, in Washington, D.C., U.S., July 2, 2025.
A man looks at his phone as he passes by the National Debt Clock in New York City, U.S., July 1, 2025. REUTERS/Brendan McDermid
House speaker Mike Johnson during a senate vote on the One, Big, Beautiful Bill Act at the U.S. Capitol on July 1, 2025.

Overview

  • Senate passed the reconciliation package 51–50 on July 1, with Vice President JD Vance casting the tiebreaking vote on deep Medicaid and provider tax cuts.
  • The bill enshrines about $4.5 trillion in tax cuts over ten years, extending Trump-era breaks and adding new deductions for tips, overtime and seniors.
  • Nonpartisan CBO estimates show the package would cut Medicaid spending by $1.1 trillion through work requirements and provider tax caps, potentially leaving nearly 12 million people uninsured.
  • House Republicans, holding a 220–212 majority, can tolerate just three defections and are pressing holdouts like Reps. Thomas Massie and Warren Davidson to secure passage.
  • Speaker Mike Johnson plans the final vote for Wednesday or Thursday even as CBO forecasts a $3.3 trillion deficit increase and storm-related flight disruptions threaten attendance.