Trump Signs Sweeping Tax and Spending Bill in July 4 Spectacle

With an Independence Day ceremony that felt more like a dramatic campaign rally than a traditional bill signing, President Donald Trump signed into law the "One Big Beautiful Bill," the sweeping package of tax cuts and spending reforms that will be the hallmark of his second term. The July 4 celebrations, held on the White House South Lawn, featured military flyovers, patriotic music, and a friendly crowd, blending legislative gravity with campaign-style spectacle.

The almost 1,000-page bill makes Trump's tax cuts from 2017 permanent, creates new deductions for overtime and tips, and broadens tax breaks for families and seniors. It also cuts funding for Medicaid, food assistance, and clean energy initiatives, while providing billions for border security, military expansion, and immigration enforcement.

Passed by a razor-thin 218–214 vote in the House and a 51–50 margin in the Senate, thanks to Vice President JD Vance’s tie-breaking vote, the bill has drawn fierce criticism. Democrats and some moderate Republicans warn it could leave over 11 million Americans uninsured and add $3.4 trillion to the national debt over the next decade.

Trump billed the legislation as "the biggest tax cut, the largest spending reduction, and the strongest border investment in American history." Critics, on the other hand, lament it as a gift to the wealthy at the expense of vulnerable Americans.

Despite all the controversy, the passage of the bill locks up Trump's legislative legacy and sets the stage for a combustible election season ahead.