Different provisions of the GOP tax and spending bill will kick in over the next year or so. Many are set to expire just before Trump's term ends.

President Donald Trump signed his domestic policy bill into law on July 4, 2025, which sees funding cuts to medicaid and other programs.

Congress has signed off on a $3.4 trillion legislative package featuring new tax breaks, spending cuts, and more funding for defense and immigration enforcement, delivering President Donald Trump his “big, beautiful bill” despite rumblings from fiscal hawks about the projected $4 trillion it could add to the national debt over the next decade.