President Trump triumphantly highlighted tax cuts in the legislation while downplaying cuts to Medicaid and other assistance for poor Americans.

President Donald Trump signs $3.3 trillion tax bill that extends 2017 tax cuts, raises debt limit by $5 trillion, rescinds Biden green energy credits, and adds Medicaid work requirements.

It was a victorious moment for President Trump, signing his tax and spending bill during a White House July 4th celebration. Democrats are poised to highlight the bill in the upcoming midterm elections given its cuts to social safety net programs but Republicans are touting its tax cuts and funding for Trump’s immigration policies.

Taxpayers will see a number of new credits and deductions when they file their taxes in 2026. Here's when other "big beautiful" bill provisions go into effect.