Trump’s Tax and Spending Megabill Goes to House Ahead of July 4 Deadline

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 1 July 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for July 1. After an all-night session of dealmaking, Senate Republicans pushed through the bill, which addresses many of President Trump’s priorities. Now, as WSJ tax policy reporter Richard Rubin tells us, the bill heads to the House, where GOP leaders will have to move quickly to meet their July 4 deadline. Plus, Federal Reserve Chair Jerome Powell said solid economic activity is allowing the Fed to keep its wait-and-see stance. And the companies behind popular snack brands are adding more, smaller packaging sizes. We hear from reporter Jennifer Williams about the upsides and potential downsides of the move. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Exclusively on Disney Plus.
0:02.0	It's hard and it's brutal and that's what makes it special.
0:06.0	The multi-award winning series, FX's The Bear, is back for a brand new season.
0:11.0	Upon my signal, unleash hell.
0:15.0	And every second counts.
0:17.0	When that shows zero, this restaurant ceases operations.
0:21.8	FX is the bear.
0:23.1	New season now streaming exclusively on Disney Plus.
0:27.1	18 plus subscription required season C's apply.
0:33.3	The Senate passes Trump's big, beautiful tax and spending bill.
0:37.8	Now, can Speaker Mike Johnson help move it through the House?
0:40.7	Johnson really had been urging the Senate not to make a bunch of changes, and they made a bunch of changes.
0:45.5	Plus, while your favorite snack makers are betting on smaller packaging.
0:49.8	And Big Tech and Hollywood face off over copyrighted material.
0:54.2	It's Tuesday, July 1st.
0:56.0	I'm Alex O'Sullough for the Wall Street Journal.
0:58.3	This is the PM edition of What's News,
1:00.9	the top headlines and business stories that move the world today.
1:10.0	Republicans squeaked President Trump's tax and spending mega bill through the Senate today,
1:15.3	capping a long night of dealmaking to win over holdouts and ending with a tie-breaking vote from
1:20.2	Vice President J.D. Vance. WS.J. Tax Policy reporter Richard Rubin joins us from the Capitol.
1:26.6	So, Richard, what is the bill that just passed?
	...

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