President Trump's "Big Beautiful Bill," passed by the House and Senate, is poised for a July 4th signing. The bill makes Trump's 2017 tax cuts permanent, includes significant changes to Medicaid and SNAP, and allocates $150 billion for immigration enforcement. Key provisions include a new child tax credit, tax deductions for seniors, and the elimination of electric vehicle tax credits. The bill also repeals Biden's student loan forgiveness plan and establishes "Trump accounts" for newborns. The Congressional Budget Office projects a $3.3 trillion increase to the US deficit.

Prepared by Christopher Adams and reviewed by editorial team.