WASHINGTON, DC – JULY 04: President Donald Trump holds up the “One, Big Beautiful Bill” Act that was signed into law during an Independence Day military family picnic on the South Lawn of the White House on July 04, 2025 in Washington, DC. After weeks of negotiations with Republican holdouts Congress passed the One, Big Beautiful Bill Act into law. The bill makes permanent President Donald Trump’s 2017 tax cuts, increases spending on defense and immigration enforcement and temporarily cuts taxes on tips, while cutting funding for Medicaid, food assistance and other social safety net programs. (Photo by Alex Brandon – Pool/Getty Images)