House Republicans came together to pass their domestic policy megabill early Thursday, after weeks of internal conflict and last-minute intervention from President Donald Trump.
The 215-214 vote is a major victory for Speaker Mike Johnson, who largely kept his conference together after days of around-the-clock negotiations with holdouts. ... The bill includes a fresh round of tax cuts sought by Trump, as well as hundreds of billions of dollars in new funding for the military and border security.
...
This is arguably the most significant piece of Legislation that will ever be signed in the History of our Country!” Trump posted on Truth Social on Thursday morning. “Great job by Speaker Mike Johnson, and the House Leadership, and thank you to every Republican who voted YES on this Historic Bill! Now, it’s time for our friends in the United States Senate to get to work, and send this Bill to my desk AS SOON AS POSSIBLE!”
Democrats have their own names for the measure, including “the GOP tax scam” and “one big, ugly bill.” Minority party leaders are deriding the bill by pointing to nonpartisan forecasts that it would increase the federal deficit by trillions of dollars and cause more than 10 million people to lose health care coverage, while shifting resources away from the lowest-income households and to the wealthiest.
In a lengthy closing speech ahead of the final vote, House Minority Leader Hakeem Jeffries accused Republicans of bankrolling tax cuts for the rich with cuts to safety-net programs like Medicaid and SNAP food assistance.
“And people will die. That’s not hype. That’s not hyperbole. That’s not a hypothetical,” Jeffries said, before a heated exchange about “decorum” with the Republican presiding over the floor.
My own 'editorializing'/additional context beyond this point:
EDIT: Link to the bill itself on congress.gov:
https://www.congress.gov/bill/119th-congress/house-bill/1/all-info
Estimates are that 11 million will lose Medicaid coverage, 13 million will lose SNAP benefits, between $3.3 trillion and $3.8 trillion ... to nearly $6 trillion increase to the national debt... many, many other programs are directly cut back, and the existing 'PayGo' laws will force other cutbacks in things like Medicare from the overwhelming deficits this creates... if this passes the Senate, which seems likely, though some modifications also seem likely.
https://www.cbo.gov/publication/61420
https://www.crfb.org/blogs/breaking-down-one-big-beautiful-bill
Possibly also worth noting:
The House version writes into law the removal of the 'de minimus' import exception rule, so that means basically every US based, import reliant dropshipper no longer has a workable business model... thats now formally in the law, not just a flurry of Executive Orders.
Also, EV credits are over.