"Big Beautiful Bill" Nears Final Passage: Senate Approves Sweeping Legislation, House Vote Imminent

 

Washington D.C., July 3, 2025 – President Donald Trump's ambitious "One Big Beautiful Bill," a comprehensive legislative package combining tax cuts, increased spending on border security, and reforms to social safety nets, has achieved a critical milestone, narrowly passing the U.S. Senate early this week. The bill now returns to the House of Representatives for a final vote, aiming for President Trump's desk before the July 4th holiday.¹

The Senate's approval came after a marathon session of debate and amendments, with Vice President J.D. Vance casting the decisive tie-breaking vote, making it a 51-50 victory for the administration. This legislative effort aims to make permanent the 2017 individual and business tax cuts, which are set to expire at the end of 2025. It also proposes significant new tax incentives, including raising the cap on the State and Local Tax (SALT) deduction to $40,000 for five years and allowing deductions for income from tips and overtime. The bill encompasses an estimated $4.5 trillion in tax reductions.²

Beyond Tax Bill provisions, the legislation allocates approximately $350 billion for Trump's border and national security initiatives. This includes substantial funding for the U.S.-Mexico border wall, expanded migrant detention facilities, and the hiring of 10,000 additional Immigration and Customs Enforcement (ICE) agents. Critics, including many Democrats and some within the GOP, have raised concerns over the bill's projected impact on the national debt, which the Congressional Budget Office estimates will increase by $3.3 trillion over the next decade.

To offset the cost of these tax cuts and new spending, the bill proposes significant cuts to social safety net programs, notably Medicaid and the Supplemental Nutrition Assistance Program (SNAP). Analysts warn that these reductions could lead to approximately 11.8 million additional Americans losing health insurance by 2034. Furthermore, the bill aims to roll back clean energy tax incentives introduced under the previous administration, potentially affecting the growth of renewable energy projects and the adoption of electric vehicles.

The House had previously passed an earlier version of the bill in May.³ Now, it must consider the Senate's amended measure. Speaker Mike Johnson has indicated a commitment to fast-tracking the bill, with a final vote anticipated shortly. The passage of this "Big Beautiful Bill" represents a major legislative push from the current administration, aiming to solidify its policy agenda ahead of upcoming political cycles.