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Home FINANCE

Trump’s One Big Beautiful Bill Passes Senate, Heads to House: How Will This Affect You

Michael Juanico by Michael Juanico
July 2, 2025
in FINANCE, POLITICS
Reading Time: 4 mins read
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  • Trump’s $4.5T tax and spending bill faces GOP infighting, with some Republicans resisting cuts to Medicaid and food aid despite pressure from the former president.
  • The bill extends Trump-era tax cuts, introduces new deductions, and ramps up defense and immigration spending—but adds $3.3T to the debt over 10 years.
  • Democrats are unified against the bill, needing just four GOP defections to block it in the House, while Trump publicly pressures holdouts to fall in line.

It’s crunch time on Capitol Hill. Speaker Mike Johnson and his crew are scrambling to lock down the votes needed to get Trump’s sweeping tax and spending bill across the finish line. But it’s not exactly smooth sailing—some Republicans are jittery, and the Speaker might need a little help from Trump himself to get the deal done.

🇺🇸 TRUMP: OUR COUNTRY WILL MAKE A FORTUNE THIS YEAR IF THE BIG BEAUTIFUL TAX BILL PASSES pic.twitter.com/MIDLU3cO4f

— BlockNews (@blocknewsdotcom) July 2, 2025

In a pretty telling sign of trouble, the House Rules Committee barely managed to push through the debate rules Wednesday morning. Two Republicans, Reps. Chip Roy and Ralph Norman, sided with Democrats in voting against it. Not a great look.

Trump Tells GOP to Unite—Or Else

The bill, packed with about $4.5 trillion in tax cuts over the next decade, makes permanent a bunch of breaks from Trump’s first term and adds a few campaign promises to sweeten the deal. We’re talking stuff like deductions for tips and overtime, plus a new $6,000 write-off for seniors. There’s also a hefty $350 billion chunk earmarked for defense and Trump’s immigration crackdown.

To help foot the bill, Republicans are slashing Medicaid and food aid. The Congressional Budget Office says it’ll still add $3.3 trillion to the debt over ten years. Yikes.

The House passed an earlier version back in May, but this new version from the Senate—well, it’s got an even bigger price tag and deeper cuts, and it’s making some GOP lawmakers sweat.

Meanwhile, Trump’s out there hyping the bill hard. In a Truth Social post, he called out “GRANDSTANDERS” in the GOP and told them to get in line: “We can have all of this right now… do the right thing.” That’s classic Trump speak for “fall in or face the consequences.”

Step Out of Line, Pay the Price

The consequences aren’t just talk. Sen. Thom Tillis, who announced over the weekend he was voting no, found himself on the receiving end of Trump’s wrath. Within hours, the former president was calling for a primary challenger. By Monday, Tillis said he’s not running again. Message received.

Rep. Thomas Massie, another holdout, is now being targeted by Trump’s PAC machine. The pressure’s real.

Still, House Majority Leader Steve Scalise said flat-out they’re not making changes to the bill now. “One more change could collapse the entire thing,” he warned.

Dems Push Back: “This Isn’t Policy, It’s Ego Management”

Democrats are united in opposition and aiming to flip just four Republicans to sink the bill. House Minority Leader Hakeem Jeffries put several GOP reps on blast—especially ones from purple districts like Rob Bresnahan and Scott Perry.

They’re calling the bill devastating. Medicaid cuts, they say, will cost lives. Others blasted the SNAP changes, claiming they’ll rip food out of the mouths of kids and seniors. The rhetoric’s hot.

Republicans defend the bill by saying they’re fixing bloated safety net programs and getting rid of waste and fraud. One of the big points of tension? New work requirements—80 hours a month for some Medicaid recipients and broader rules under SNAP. Plus, states will have to pitch in more for food aid.

Donald J. Trump Truth Social 07.02.25 11:21 AM EST pic.twitter.com/ZO1XSWlPH4

— Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) July 2, 2025

Who Wins, Who Pays?

Let’s talk numbers. According to the Tax Policy Center, if this bill goes through, the lowest-income Americans get a $150 tax break next year. The middle gets about $1,750, and the wealthiest? Almost $11,000.

If Congress does nothing, the 2017 tax cuts expire—so the pressure’s on. But for now, the fight’s not over, and all eyes are on the final vote. Trump wants it done by July 4, but his party still isn’t fully sold.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Mike JohnsonRepublicanstax cutsThom TillisThomas MassieTruth Social
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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