US President Donald Trump will sign the 'One Big Beautiful Bill' on July 4, marking Independence Day. The bill includes tax cuts and defence and border security funding and was narrowly passed in both the House and Senate.

The U.S. House passed President Trump's massive budget bill on Thursday with a 218-214 vote, two days after the Senate narrowly passed the legislation, 51-50, with Vice President JD Vance giving the tie-breaking vote. Mr. Trump plans to sign the bill at the White House on Friday, July 4.

Republicans are proposing to dramatically roll back tax breaks designed to boost clean energy projects fueled by renewable sources such as energy and wind. The tax breaks were a central component of President Joe Biden’s 2022 landmark bill focused on addressing climate change and lowering health care costs.