#大而美法案 Local time July 4, U.S. President Trump signed the "Big and Beautiful" tax and spending bill into law. Prior to this, the U.S. House of Representatives had already passed the bill on the afternoon of the 3rd with a vote of 218 in favor and 214 against. The bill had also been approved by the Senate earlier (on July 1). The "Big and Beautiful" bill is a flagship legislative agenda that Trump introduced after returning to the White House in early 2025. The main content of the bill includes extending the corporate and individual tax cuts that Trump passed in 2017 during his first term, exempting tips and overtime income from taxation, among other things, with the core provision being a reduction in corporate taxes. Of course, the Republicans included far more than just tax measures in this bill—they also risked merging Medicare, military spending, immigration, and other priorities into such a "too big to fail" piece of legislation.