Overview

• Vice President J.D. Vance cast the deciding vote on July 1 after a more than 26-hour amendment marathon produced a 50-50 tie in the Senate.
• The ‘One Big Beautiful Bill’ extends Trump-era tax credits and boosts defense and immigration funding while cutting Medicaid and SNAP, with the CBO projecting over $3 trillion in additional debt by 2034.
• In the House of Representatives, Republicans’ slim majority faces fractures as several conservative members, including Rep. Andy Biggs, have signaled they may oppose the Senate’s revised package.
• Elon Musk denounced the legislation as an “insane spending spree,” vowed to form a new America Party if it passes, and drew threats from President Trump to examine Musk’s expulsion and deploy the DOGE commission against him.
• Republican leaders are under pressure to unify their ranks before President Trump’s symbolic July 4 deadline for the bill to reach his desk.