President Trump's tax cut bill passed its final hurdle in Congress on Thursday, narrowly approved by the Republican-controlled House of Representatives. The massive bill will fund Trump's domestic agenda while causing millions of Americans to lose their health insurance.
The 218 to 214 vote result brings a significant victory for the Republican president, as the bill will finance his immigration crackdown policies, make his 2017 tax cuts permanent, and fulfill his promised new tax breaks during his 2024 campaign.
The bill also cuts healthcare and food safety net programs and eliminates dozens of green energy incentives. According to the nonpartisan Congressional Budget Office (CBO), the bill will add an additional $3.4 trillion to America's $36.2 trillion debt.
Despite concerns within the Republican Party about the cost of the 869-page bill and its impact on healthcare programs, only two of the 220 Republicans in the House voted against it after an all-night standoff. The bill had previously passed in the Republican-controlled Senate with a slim margin.
The White House stated that Trump will sign the bill on Friday (July 4th Independence Day holiday) at 5 PM Eastern Time, making it officially effective.
