On Thursday afternoon (July 3), the United States House of Representatives passed President Trump’s comprehensive tax cut and spending bill, also known as the “Big and Beautiful Act.” Following this, Trump traveled to Iowa, where he kicked off celebrations for the upcoming 250th anniversary of the founding of the United States with American voters who helped him win a second term.
Before 3 p.m. on Thursday afternoon, the House passed Trump’s landmark tax cut bill by a narrow margin, providing funding for the domestic agenda of his second term, increasing border protection funds, while reducing federal healthcare aid.
The White House announced that Trump will sign the bill at 5:00 pm on Friday (Independence Day), followed by a grand signing ceremony.
White House officials praised the passage of the bill as a significant victory that will inject new vitality into the U.S. economy.
Trump is expected to deliver a campaign-style speech at the Iowa State Fairgrounds in Des Moines. This is a popular spot for presidential candidates during the Iowa caucuses. Trump won Iowa by a 13-point margin in the 2024 election.
“Of course, a large part of the speech will be dedicated to celebrating the passage of this bill, which is a very wonderful thing,” a senior White House official, speaking on condition of anonymity, told Reuters.
Another source familiar with the matter told Reuters that Trump’s speech will blend patriotism with policy, aiming to assure Iowa voters that his administration is defending their interests and delivering tangible results.
Trump’s tariff policies have impacted the agricultural community in Iowa, with farmers in the state suffering due to retaliatory tariffs from Beijing leading to a decrease in U.S. soybean exports and prices.
On Tuesday, Trump announced his itinerary on Truth Social, calling Iowa “one of my favorite places.”
“I will also tell you about some great things I have done in trade, especially concerning farmers. You will be very pleased with what I have to say,” Trump said.
The bill passed on Thursday provides funding for Trump to further combat illegal immigration, make his 2017 tax cuts permanent, and fulfill new tax relief policies promised during his 2024 campaign.
The bill also cuts programs for medical and food stamps and eliminates various green energy incentives.
Another senior White House official said many provisions of the bill are widely popular, including strengthening border enforcement, modernizing air traffic control, and repealing the tip tax.
However, some Republicans are concerned that the bill significantly reduces the Medicaid federal healthcare assistance program, which could harm the party’s prospects in the 2026 midterm elections.
After the final vote on Thursday, a senior White House official told reporters that Trump was deeply involved in drafting the bill, reviewing it line by line with Treasury Secretary Scott Bennett and other senior advisors, and engaging in “endless” late-night phone calls with members of Congress.
The official stated that Trump began making calls as early as 5:30 a.m. on Thursday. In the end, only two House Republicans joined with Democrats in voting against the bill.