New law reduces the number of federal student loan repayment options and caps how much individuals can borrow for higher education.

In the classic Schoolhouse Rock song “I’m Just a Bill,” the bill laments the prospect of waiting with other bills, hoping to become a law. But President Donald Trump’s “Big Beautiful Bill” didn’t have to wait—it sped through Congress in recent days and landed on his desk in time for him to sign it into law by his July 4 deadline.

Several GOP holdouts flipped on a late-night procedural measure to clear the path for a vote on the megabill before Trump’s July 4 deadline.

The GOP measure includes tax cuts and spending reductions, as well as immigration enforcement funding.

The Republicans' tax cut and spending package, dubbed the "big, beautiful bill," includes a tax deduction for car loan interest of up to $10,000 annually for qualified vehicles.

Democratic Party officials are looking at the Big Beautiful Bill as a political gift and hoping voters view cuts to social spending negatively. But the party faces challenges ahead of the midterms, including a Republican trifecta and a base questioning if party leadership is doing enough to challenge President Trump.

The "big, beautiful bill" signed into law​ by President Trump last week will allow him to dramatically expand his immigration crackdown.

House Speaker Johnson says President Trump's "big, beautiful bill" will help the GOP in the midterms. Key Senate races are now in the spotlight as Republicans aim to hold their slim majority in 2026.