On July 3, the United States House of Representatives passed President Donald Trump’s signature tax cut and spending package, which he has called the “One Big Beautiful Bill“.

The bill combines tax reductions, spending hikes on defence and border security, and cuts to social safety nets.

Democratic Minority Leader Hakeem Jeffries warned that the bill “hurts everyday Americans and rewards billionaires with massive tax breaks”.

Trump’s erstwhile ally, billionaire Elon Musk, publicly opposed the bill, arguing it would bloat expenditure and the country’s already unmatched debt.

Trump is expected to sign the bill into law on Friday, July 4 – the US’s independence day – at 4pm ET.

https://www.aljazeera.com/news/2025/7/4/when-will-trumps-big-beautiful-bill-take-effect-heres-what-comes-next