Senate passes “One Big Beautiful Bill” legislation; House to take up legislation this week
The bill must now pass the House before it can go to President Trump for signature.
The Senate today, by a 51-50 vote (with Vice President Vance casting the tiebreaking vote), passed the “One Big Beautiful Bill” legislation, H.R. 1.
During an overnight “vote-a-rama” session, the Senate adopted several amendments to the version of the legislation introduced last week (read TaxNewsFlash). In particular, changes were made to the phase-out of several energy credits, and a tax on energy projects using certain foreign components was removed.
The bill must now pass the House before it can go to President Trump for signature. The House is expected to attempt to take up the bill this week.