In a narrow 215–214 party-line vote on Thursday, the Republican-led U.S. House of Representatives approved the sweeping One Big, Beautiful Bill Act. The legislation, championed by President Donald Trump, would extend his 2017 tax cuts for another decade, paired with deep spending reductions in social safety net programs. House Speaker Mike Johnson hailed it as “transformational,” but critics warn it would gut health care and swell the national debt.
A Marathon Debate and Tense Vote
The debate stretched late into the night as lawmakers grappled with competing priorities:
- Speaker Mike Johnson opened the proceedings by calling the bill “nation shaping and life changing,” suggesting future generations would study its passage as a turning point in American history.
- Republican Unity Tested: A right-wing rebellion threatened the bill’s fate until leadership secured concessions on Medicaid work requirements and clean energy tax credits.
- Final Tally: The bill passed strictly along party lines—Republicans in favor, Democrats opposed.
What’s in the One Big Beautiful Bill Act?
At its core, the act reflects Trump’s vision of a “Golden Age” driven by tax relief and smaller government:
- Tax Cuts Extended: All provisions of the 2017 tax law would continue for ten more years, benefiting individuals and corporations.
- Medicaid Cuts: The bill would shave $700 billion from Medicaid, with a faster rollout of work requirements by the end of 2026.
- Clean Energy Tax Credits: Phased-out earlier than planned to appease conservative fiscal hawks.
- State and Local Tax (SALT) Deduction: Boosted four-fold from $10,000 to $40,000, a victory for moderate Republicans from high-tax states.
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Dramatic Deficit Concerns
Independent analysts predict the package could add as much as $4 trillion to the deficit over a decade. The White House confidently forecasts up to 5.2% economic growth that would offset new borrowing, but bond investors remain skeptical. The 10-year U.S. Treasury yield jumped to its highest level since February following the bill’s passage, reflecting market anxiety over the looming budget strain.
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Democratic “Devastation” Warnings
House Democrats uniformly denounced the bill as a giveaway to the wealthy that would dismantle health coverage for millions:
- House Minority Leader Hakeem Jeffries blasted it as “the largest cut to health care in American history” aimed at funding “the largest tax breaks for billionaires.”
- CBO Estimates: Project that about eight million low-income Americans would lose public health insurance under the proposed Medicaid reductions.
Trump’s Influence and Republican Pushback
Though Trump’s return to the White House has seen his approval ratings slip, his influence over House Republicans remains strong. He personally urged lawmakers to support his signature legislation during a rare Capitol Hill visit. Yet, that sway is expected to weaken in the Senate:
- Senator Ron Johnson (R-WI) told Punchbowl News he resists “primary threats” and believes deeper Medicaid cuts are necessary.
- Senator Rand Paul (R-KY) warned that Republicans will “own the deficit” once they vote for such a large spending package.
Next Steps: Senate Rewrites Ahead
With the One Big, Beautiful Bill Act now moving to the Senate, significant changes are almost guaranteed:
- Rewrite Schedule: The upper chamber plans at least a month of amendments before sending a final version to Trump by July 4.
- Potential Roadblocks: High-stakes negotiations lie ahead as senators balance fiscal hawk demands against moderate concerns.
As the debate shifts to the Senate, the fate of Trump’s sprawling tax-cut extension and the accompanying budget cuts hangs in the balance. Whether the final bill will deliver on promises of economic growth or accelerate the nation’s debt crisis remains the central question for lawmakers and voters alike.
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