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July 4, 2025Trump’s Bill Passed: The Tax and Spending Updates, Explained | WSJ
The House of Representatives passed President Trump’s one big, beautiful tax and spending bill. The sweeping domestic policy megabill includes Medicaid cuts, Trump’s promised no tax on tips and clean energy tax credit changes. The bill also increases government spending on ICE and border security, missile defense, shipbuilding and more.
WSJ’s Richard Rubin breaks down the final version of the tax-and-spending megabill passed by Congress before Trump signs it.
Chapters:
0:00 The House passes Trump’s megabill
Tax-cut extensions
New tax deductions
Spending increase on defense and border security
Medicaid, SNAP and clean energy
How the bill increases the deficit
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C. Rich is the voice behind America Speaks Ink, home to the America First Movement. As an author, freelance ghostwriter, poet, and blogger, C. Rich brings a “baked-in” perspective shaped by growing up on the streets and beaches of South Florida in the 1970s-1980s and brings a quintessential Generation-X point of view.
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