The official name of this bill, #大而美法案 , is "One Big Beautiful Bill Act", which was narrowly passed in the House of Representatives on May 22, 2025. It was then also narrowly passed in the Senate in early July with a vote of 51-50. Vice President Vance cast the crucial tie-breaking vote to move it forward.

In terms of content, the bill covers a very broad scope, including tax reform, social welfare adjustments, expansion of the defense budget, tightening of immigration policies, and adjustments to energy strategy, among other areas. The core content includes: extending the 2017 tax cuts, permanently locking the corporate tax rate at 21%; introducing new tax cuts such as tax exemptions for tips and overtime pay, increasing the exemption for estate tax to $15 million, cutting social welfare spending, especially Medicaid and food stamps, and adding work requirements; increasing military and border security budgets by approximately $150-160 billion; eliminating clean energy subsidies, restoring support for traditional energy; and raising the federal debt ceiling by $4-5 trillion.

The financial impact of the bill is enormous: it is estimated to increase federal debt by $3.3 trillion to $4 trillion over the next ten years. The debt-to-GDP ratio may rise from 98% to over 125%; Moody's has thus downgraded the U.S. sovereign credit rating.

In terms of social impact, the bill has been criticized as "robbing the poor to pay the rich": high-income groups benefit significantly, with the top 1% of families receiving an average tax cut of $66,000, while low-income groups are harmed, with approximately 12 million people potentially losing health insurance and 16 million facing limited nutritional assistance.