House Passes GOP Tax-Spending Megabill Amidst Party Divisions

House Republicans narrowly passed the "Big Beautiful Bill," a sweeping tax and spending package that includes significant tax cuts, spending reductions, and policy changes aligned with former President Donald Trump's domestic agenda. Key provisions include expanded state and local tax (SALT) deductions, with the cap raised to $40,000 for couples to win over moderates from high-tax states, and accelerated Medicaid work requirements aimed at fiscal conservatives. Senate Republicans are expected to alter the House version significantly, particularly by scaling back provisions that limit clean energy tax credits, reflecting concerns from senators across various states. The bill also includes accelerated phaseouts of energy tax credits, elimination of the tax on firearm silencers, and a new child savings account named after Trump. Critics warn the legislation could increase the national debt by over $3 trillion in eight years and could adversely impact vulnerable groups through Medicaid changes. The legislative process remains contentious, with intense negotiations expected during reconciliation between the House and Senate versions as GOP factions balance diverse priorities and political pressures.