With the GOP’s “big, beautiful bill” headed to President Trump’s desk for signature Friday, wealthy Americans are poised to receive significant tax breaks partly offset by steep cuts to social welfare programs. The bill makes 2017 tax breaks from Trump’s first term permanent, while adding some new tax breaks, such as no taxes on tips…

President Trump on Friday signed his signature tax and spending legislation, the "big beautiful bill," into law, meeting a July 4 deadline that at times appeared out of reach. Why it matters: It's a huge achievement for Trump and congressional Republicans that will reshape federal fiscal policy for years to come.

In an event held on the White House lawn on the Independence Day holiday, President Donald Trump signed a bill that would provide tax breaks and cut Medicaid and SNAP programs.