One Big Beautiful Bill Act (H.R. 1)

Passed via budget reconciliation (simple majority, no 60-vote requirement). Senate vote: VP JD Vance cast tie-breaker. Only House Republican opposed: Thomas Massie (KY). Sen. Thom Tillis (R-NC) retired rather than vote for it after Trump threatened primary opposition. Center for American Progress: "largest-ever cuts to basic needs programs in U.S. history to fund tax cuts for ultrawealthy."

CBO projected top 10% earners see incomes rise 2.7% by 2034 due to tax cuts; bottom 10% see incomes fall 3.1% due to program cuts. Signed July 4, 2025, coinciding with nation's 249th birthday.

• Permanent 2017 TCJA extension: Tax cuts due to expire 12/31/25 made permanent (mostly benefits higher earners)
• SALT cap raised to $40K: For taxpayers <$500K (reverts to $10K after 5 years)
• No tax on tips/overtime: Expires 2028
• Trump accounts: Tax-deferred savings for children; $1K federal contribution for births 2025–28
• Senior deduction $6K: For earners <$75K (expires 2028)
• 1% remittance tax: On money sent abroad
• Clean energy credits phased out: Removes IRA incentives (solar, wind, EVs)
• Gun silencer tax repealed
• Debt ceiling raised $5T

• Medicaid cuts $1T+ — reduced benefits, enrollment tightening
• SNAP cuts $186B — work requirements, reduced benefits
• Student aid cuts — Public Service Loan Forgiveness restrictions
• Childcare / elderly care funding reductions

Senate (52–48 via reconciliation): VP Vance tie-breaker. House: Only Republican 'no': Thomas Massie (KY), citing concern for working Americans. Sen. Thom Tillis (R-NC): Announced retirement rather than vote; Trump threatened to support primary opponent over Medicaid concerns. All Democrats opposed.