Overview

• The Senate approved the bill on July 1 by a 51-50 vote, with Vice President J.D. Vance providing the tie-breaking margin.
• Speaker Mike Johnson has scheduled a final House vote by Wednesday or Thursday to meet the July 4 target despite GOP defections.
• The package combines $4.5 trillion in tax cuts and roughly $350 billion for defense and immigration enforcement funded by deep reforms to Medicaid and SNAP, including new work requirements and provider tax caps.
• The nonpartisan Congressional Budget Office estimates the bill will add $3.3 trillion to the federal deficit over the next decade and result in 11.8 million people losing health insurance due to Medicaid cuts.
• Opposition from Senate defectors and House Republicans wary of entitlement reductions and deficit growth underscores deep GOP divisions over the legislation.