President Donald Trump on Friday signed into law his sweeping tax cut and spending package, what he’s called the “big, beautiful bill,” in a Fourth of July ceremony packaged with patriotic pomp and symbolism.

Key Points The latest draft of the "One, Big, Beautiful Bill" includes an additional tax cut for seniors.It doesn't apply to high earners or those under age 65.This falls far short of President Trump's promise to end Social Security benefit taxes.

The "big, beautiful bill" will add trillions to the national debt through tax cuts, and millions of people could lose their health insurance.