House passes Big Beautiful Bill, sends it to Trump

Investing.com -- The U.S. House of Representatives on Wednesday narrowly approved a wide-ranging tax and spending bill, now sending the bill to President Donald Trump and desk for final approval.

The White House says President Trump will sign the "Big Beautiful Bill" on July 4th at 5 PM ET.

It locks in a broad set of tax cuts, expands deductions for families and seniors, and includes provisions eliminating taxes on tips and overtime pay.

The final vote, 218 to 214, was mostly along party lines. The legislation passed with just two Republican defections.

The Senate had already approved the bill.

The White House in a post on social media platform X said “VICTORY: The One Big Beautiful Bill Passes U.S. Congress, Heads to President Trump’s Desk.”

Treasury Secretary Scott Bessent called the bill “the strongest legislation for American workers and families,” saying it would “unleash the full potential of the U.S. economy” and “prevent the largest tax hike in history.”

The bill also includes spending measures aimed at strengthening manufacturing and national security, while tightening oversight of government programs to reduce fraud and waste.

You May Also Be Interested In

• Ferguson Enterprises to Join S&P 500; ADI Global Distribution to Join S&P SmallCap 600
• AI wizkid Leopold Aschenbrenner forced to sell entire portfolio after rout
• HSBC Reiterates Buy Rating on Gail (India) Ltd. (GAIL:IN) (GAILF)