The House narrowly passed a sweeping Republican-backed bill on Thursday. The legislation would overhaul Medicaid, food stamps, taxes, and immigration in what President Trump calls the “big, beautiful bill.” Approved 215-214 after intense negotiations, the legislation enacts key Trump campaign promises, including eliminating taxes on tips and overtime and raising the SALT deduction cap to $40,000 for residents of high-tax states. The bill is projected to add $3.3 trillion to the deficit over 10 years while making the 2017 tax cuts permanent. Medicaid changes could lead to 7.6 million losing coverage, and SNAP reforms would shift more cost burdens to states. The bill now heads to the Senate, where changes are expected before the debt ceiling deadline in August.
