Republicans' tax policy bill will have massive consequences. Both parties are hoping it will boost them in the 2026 election.

Democrats view the Trump bill's cuts to Medicaid and food assistance as ready ammunition for their future campaign.

President Trump is scheduled to sign the bill into law at 4 p.m. on July 4 at the White House, locking in tax reductions and Medicaid cuts.

Just after the One Big Beautiful Bill Act passed the U.S. House of Representatives on Thursday — in time for a grand ...