Trumps “Big Beautiful Bill”

📌 Timeline & Key Updates

Here’s a comprehensive, updated timeline for the “One Big Beautiful Bill Act” (a.k.a. OBBBA or “Big Beautiful Bill”):

Feb 21, 2025

– Senate passes S. Con. Res. 7, which sets reconciliation instructions for a future bill including $175 B on immigration/border enforcement and $150 B military increase; does not include tax‑cut extensions. Vote: 52–48, with Rand Paul opposed  .

Feb 25, 2025

– House approves H. Con. Res. 14, instructing reconciliation to raise the debt limit by $4 T while enabling tax cuts and spending reductions. Vote: 217–215  .

May 16, 2025

– H.R. 1, the One Big Beautiful Bill Act, is introduced by Rep. Jodey Arrington (R‑TX)  .

May 20–22, 2025

– Committee/Congress: House Budget Committee hearings on May 20; bill reported on May 21.

– May 22: House passes H.R. 1 narrowly, 215–214–1  .

May 23–30, 2025

– Senate begins reviewing, flagging controversial provisions: green‑energy credit cuts, SNAP/Medicaid, tax silencer repeal, AI limits, EPA rollbacks ().

Jun 1–20, 2025

– Senate Parliamentarian rules numerous provisions violate the Byrd Rule, removing caps on CFPB funding, Fed pay cuts, silencer tax repeal, environmental rollbacks, border enforcement delegation, and more  .

Jun 24–27, 2025

– Additional provisions struck: Pell‑grant expansion, gun silencer tax repeal, SNAP state cost‑share enforcement  .

– June 27: Senate GOP releases revised version of the bill:

• SALT cap raised to $40K for 5 years

• Adds $25 B for rural hospitals

• Delays Medicaid provider tax cap

• Deepens green‑energy credit cuts

• Exceptions for small endowment schools

• Border wall funding returned

• Whaling‑boat deduction & SNAP waivers for AK & HI  .

Jun 28, 2025

– Senate passes motion to begin formal debate and vote‑o‑rama  .

Jun 30–Jul 1, 2025

– Senate enters 27-hour procedural marathon, processing 46 amendments, finishing before noon July 1  .

– July 1, 2025: Senate passes amended OBBBA 51–50, with VP J.D. Vance breaking the tie. GOP opponents: Collins, Tillis, Paul  .

📊 Key Bill Contents (Senate Version)

• Length: ~887–940 pages, ~$4–4.5 T in tax cuts (mainly for wealthy/corporations), offset partly by $3.3 T added to debt through 2034  .

• Cuts: Medicaid & food-stamp (SNAP) reductions affecting ~10–12 M people; clean-energy credit rollbacks ().

• Increases: Border & immigration enforcement funding (~$350 B), defense spending, ATC modernization funding ($12.5 B)  .

• Tax Changes: Extends 2017 TCJA provisions, permanent SALT cap of $40K (5 years), removes silencer tax, protects credit unions from new taxes  .

• Legislative Adjustments: Rural hospital fund, Medicaid provider tax delay, small-school endowment carve-outs, whaling-boat tax breaks  .

🔜 What Happens Next

1. House vote: Reconciled bill returns to the House—likely as early as July 2–3, to meet Trump’s July 4 target  .

2. Final passage: If passed, goes to President Trump’s desk for signature.

3. Debt ceiling: Simultaneous lift tied into the package.

4. Conference negotiations: If differences remain, a House–Senate conference may be needed (could delay timeline).

5. Political & market fallout:

   
   

   • Democrats plan legal/political challenges  .

   • Bond markets and rating agencies concerned over deficits and accounting methods  .

   • Some moderates push back (Collins, Tillis, Paul)  .

     
     

✅ Summary Overview

Feb 21

Senate budget instructions pass

May 22

House passes H.R. 1

Jun 20–27

Senate cuts & revises bill per Byrd Rule

Jun 30–Jul 1

Vote‑o‑rama marathon; Senate passes amended bill 51–50

Jul 2–3 (Projected)

House final vote

Jul 4

Trump’s target signature deadline