President Donald Trump signed the $3.4 trillion “One Big Beautiful Bill Act” into law during a July 4 ceremony on the White House South Lawn, one day after the Republican-controlled House approved the measure 218–214. The event, held before supporters and lawmakers, featured a flyover of B-2 stealth bombers and F-35 fighter jets and capped Trump’s self-imposed Independence Day deadline for enacting the legislation. The new law makes permanent the individual and business tax cuts first passed in 2017, introduces additional breaks for tipped workers, and allocates roughly $170 billion to Immigration and Customs Enforcement and Customs and Border Protection. It also boosts Pentagon funding by about $150 billion while phasing in cuts to Medicaid and the Supplemental Nutrition Assistance Program—changes that non-partisan analysts warn could leave millions without health coverage. Republicans hailed the package as the largest combination of tax relief, spending restraint and border investment in U.S. history; Democrats unanimously opposed it, citing projections that the measure will add more than $3 trillion to the nation’s $36 trillion debt and widen inequality. Calling the law “the greatest victory yet,” Trump said it would turn the U.S. economy “into a rocket ship” as he signaled that trade policy, including additional tariffs, will be his next legislative focus.