Washington, D.C., July 4, 2025 – House Republicans passed President Donald Trump’s sweeping tax and spending bill, dubbed the “One Big Beautiful Bill Act,” on July 3, 2025, with a 218-214 vote, overcoming internal divisions to advance Trump’s domestic agenda, per CBS News. The legislation, which extends 2017 tax cuts and funds defense and immigration enforcement while cutting social programs, now heads to Trump’s desk for signing by his July 4 deadline. Here’s the story, plus five steps to understand its implications, optimized for the keyword House Republicans pass Trump’s tax and spending bill.

The bill, passed after a marathon session and intense negotiations, includes $4.5 trillion in tax cuts, making permanent Trump’s 2017 reductions, adding temporary breaks on tips and overtime, and boosting the child tax credit to $2,200, per PBS. It allocates $175 billion for immigration enforcement, including border wall construction, and $150 billion for defense, per The New York Times. To offset costs, it cuts $900 million from Medicaid and $267 billion from SNAP, potentially leaving 11.8 million without health insurance by 2034, per the Congressional Budget Office (CBO). The bill raises the debt ceiling by $5 trillion, adding $3.4 trillion to the $36.2 trillion national debt, drawing criticism from Democrats and fiscal hawks like Rep. Thomas Massie, who voted against it alongside Rep. Brian Fitzpatrick, per Reuters. House Speaker Mike Johnson secured key holdouts like Rep. Ralph Norman after White House assurances, per CNN.

5 Steps to Understand the Bill’s Impact

1. Analyze Tax Changes – Review the $4.5 trillion in cuts, including permanent 2017 rates and temporary breaks like no taxes on tips through 2028. Use Tax Foundation data to assess benefits, noting the top 20% of earners gain $12,500 on average, while low-income households see just $150, per CNN.
2. Evaluate Spending Shifts – Examine the $175 billion for immigration and $150 billion for defense, including $25 billion for the Golden Dome missile system, per PBS. Compare with cuts to Medicaid and SNAP to understand trade-offs.
3. Assess Social Program Cuts – The CBO estimates 8.6 million will lose Medicaid coverage due to work requirements starting in 2026, per NPR. Study impacts on low-income families using Yale Budget Lab reports.
4. Track Economic Effects – The bill increases the deficit by $3.4 trillion, per CBO. Explore long-term GDP growth (0.8% per Tax Foundation) versus debt concerns, amplified by Elon Musk’s opposition on X, citing Tesla’s hit from EV credit cuts.
5. Monitor Political Fallout – Democrats, led by Hakeem Jeffries’ record 8-hour-44-minute speech, plan to campaign against the bill’s “tax scam” in 2026 midterms, per The Guardian. Watch X for public sentiment, like @AP’s coverage of GOP unity.

What’s Next

Trump is set to sign the bill today, July 4, fulfilling a campaign promise. Its Medicaid and SNAP cuts may spark legal challenges, while tax breaks face scrutiny for favoring the wealthy. Follow Reuters or X posts like @SteveScalise for updates, and review CBO reports to gauge long-term effects on your finances.