GOP Tax Megabill Heads to House for Next Test: BGOV Tax Brief

July 2, 2025, 10:05 AM UTC

The House is set to vote Wednesday on the GOP’s mammoth tax-and-spending package, in an effort to meet President Donald Trump’s goal of signing the bill by July 4.

After more than 24 hours of debate and amendment votes in a marathon session, the Senate voted 51-50 to pass the bill—with three objections from Republicans and Vice President JD Vance breaking the tie. The $3.3 trillion legislation carries much of Trump’s agenda, including extension of the 2017 tax cuts.

Last-minute changes to the bill prior to Senate passage saw a proposed new tax on wind and solar companies nixed and ...

Learn more about Bloomberg Tax or Log In to keep reading:

See Breaking News in Context

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools and resources.