Washington, July 4 : In a significant development for America’s middle class, the US Senate and House of Representatives on Friday passed the ‘One Big Beautiful Bill Act’, a flagship legislative move backed by former President Donald Trump. The bill passed by a narrow margin of 218 to 214 votes and includes sweeping tax cuts as well as reductions in spending on certain social security programs.
As per agency report, the legislation eliminates taxes on tips and overtime pay, a move touted by Trump as a landmark reform fulfilling key campaign promises. Addressing supporters following the vote, Trump celebrated the bill’s passage as a "gift" to Americans on the occasion of Independence Day, calling it a fulfillment of his pledges made during the 2024 Iowa campaign.
Trump emphasized that the bill not only makes his earlier tax cuts permanent but also ensures that Americans will no longer pay taxes on overtime income, tips, or social security. He noted that the legislation protects over two million family-owned farms from what he described as the unfair "estate tax" or "death tax".
Trump hailed the bill’s passage as the dawn of a "new golden age" for the United States and announced a formal signing ceremony to be held at the White House on Friday evening. On his social media platform ‘Truth’, Trump praised the Republican Party’s unity and extended gratitude to House Speaker Mike Johnson, Senate Majority Leader John Thune, and other GOP lawmakers who played a role in advancing the bill.
He stated that the American people are now more prosperous, secure, and proud than ever before, reiterating his belief in continued progress and success for the country. The "One Big Beautiful Bill Act" is now set to become a central part of Trump’s policy legacy, reshaping the national tax framework ahead of the next presidential election cycle.
