House Republicans narrowly passed President Donald Trump’s $4.5 trillion tax and spending package, meeting his July 4 deadline.
The 800-page bill passed 218-214, with two Republicans joining all Democrats in opposition. House Speaker Mike Johnson praised it as a transformative plan to make the U.S. “stronger, safer and more prosperous.”
At its core, the bill extends Trump’s 2017 tax cuts and adds new ones, including deductions for tips, overtime, and a $6,000 break for older adults earning under $75,000. It also allocates $350 billion for national security, deportation efforts, and the “Golden Dome” defense system.
To offset costs, the package imposes $1.2 trillion in cuts to Medicaid and food stamps, introducing work requirements even for some parents and seniors. It also rolls back green energy tax credits. The Congressional Budget Office projects the plan will add $3.3 trillion to the deficit and leave 11.8 million more Americans uninsured.