Image source, Getty Images

US President Donald Trump's "big, beautiful" tax bill has ed the House of Representatives with 215 votes to 214 and it now heads to the Senate for approval or changes.

The bill looks to extend soon-to-expire tax cuts ed during Trump's first istration, and provides an influx of money for defence spending and to fund the president's mass deportations.

Here's a recap of the latest developments:

• The US president hailed the development, saying "there is no time to waste" before the Senate gets to work on the bill
• Speaker Mike Johnson described the bill as a "generational, nation-shaping legislation"

• Democrats fiercely opposed the bill and warned the cuts could have dire consequences for millions of lower-income Americans
• "Hospitals will close, nursing homes will shut down and communities will suffer," the Democrats said in a t statement following the bill's ing
• The legislation comes with a massive price tag - it is estimated to add $5.2tn (£3.9tn) to US debt and increase the budget deficit by about $600bn in the next fiscal year

The bill still faces obstacles in the Senate where Republicans are likely to push for changes and amendments before it is ed - here are four key sticking points.

We're closing our live coverage now but you can stay across this story on BBC News: US House es Trump's 'big, beautiful' tax and spending bill

Although US President Donald Trump's sweeping tax and spending bill has ed the House of Representatives, it still needs to get in the Senate before it can become law.

The US Senate, like the House of Representatives, is narrowly controlled by Republicans.

Numerous Republicans in the Senate have already said they'll seek changes to the bill.

On Wednesday, Senate Majority Leader John Thune, a South Dakota Republican, told reporters the "Senate will have its imprint on" the bill.

Some of the sticking points revolve around the extent of spending cuts, including around Medicaid, local and state tax reductions as well as government spending on food assistance.

Dearbail Jordan
Senior business and economics reporter

Donald Trump’s tax bill is certainly big but not everyone thinks it’s beautiful.

One of the biggest concerns is what it will do to US debt, which is already strained at an eye-watering $36 trillion.

At present, the US deficit – the difference between what the government spends and how much it collects in taxes – is $1.9 trillion.

The tax cuts proposed in Trump’s bill could add $3.8 trillion to the deficit over the next decade, according to the Congressional Budget Office.

While the legislation proposes spending cuts, it is almost inevitable that the US government will be forced to borrow more to fund its outlays.

This could lead to higher interest payments. The US government is already shelling out a massive amount on debt interest, topping $881bn last year which outstripped the $850bn spent on defence.

Institutions who lend the US money are already demanding a higher interest rate to buy government debt. Concerns about borrowing as well as uncertainly around Trump’s tariffs might make nervous investors bump up interest rates even further.

If that happens, people with mortgages should buckle-up because the institutions who lend to homebuyers take their cue from the financial markets when deciding interest rates.

Wall Street opened less than an hour ago, and the markets are reacting to the House ing Trump's tax and spending bill.

When the New York Stock Exchange opened at 09:30 local time (14:30 BST) there was a mixed picture on the US’s three main indexes.

• Dow Jones is down 0.23%
• S&P 500 is down 0.06%
• Nasdaq up 0.08

Trump's influence on full display with bill's age in Housepublished at 14:47 British Summer Time

14:47 BST

Bernd Debusmann Jr
Reporting from Washington

The age of the budget bill despite Republican hold-outs starkly highlights Donald Trump's stranglehold on the party - but how exactly did he do it?

We have only caught whispers and glimpses of what was said behind closed doors, but we do know that Trump and the White House pressed extremely hard for the bill's age.

On Tuesday, for example, Trump made a rare appearance on Capitol Hill, reportedly using an expletive to tell lawmakers to leave Medicaid alone and urging Republicans to unite behind the bill.

The following morning, the White House put out a statement saying, in no uncertain , that they would see a failure to the bill as the "ultimate betrayal".

That message, followed by an afternoon meeting with Freedom Caucus hold-outs, ultimately overcame any further resistance.

Republican lawmakers are keenly aware of the enormous influence that Trump has over voters and the Republican base, and many will be nervous as they look ahead towards next year's mid-term elections.

There's still some work left until the bill makes it to Trump's desk - but when it does, it will be an enormous victory for a president who revels in displays of his influence.

Two House Republicans did not vote on Trump's massive budget package, which ed with 215 votes to 214.

Speaker Mike Johnson told reporters that those Republicans were Andrew Garbarino of New York and David Schweikert of Arizona, as reported by the New York Times and Politico.

Johnson said they missed the vote unintentionally - Garbarino fell asleep and Schweikert did not submit his voting card in time.

But a spokesperson for Garbarino told Politico: “After sitting through proceedings all night, the Congressman briefly stepped out and inadvertently missed the vote," while Johnson said: “He fell asleep in the back, no kidding.”

There's been some discord among of Trump's own party over his "big, beautiful bill", which will now go to the Senate, and Republicans there are working on their own tweaks.

Here's a look at where the disagreements lie:

How much to cut?

Trump and his congressional allies are trying to satisfy both budget hawks who want deeper spending cuts and Republicans who want tax reductions but worry about the effects of cutting some programmes.

The nonpartisan Congressional Budget Office estimates that the bill would, over the next decade, add about $2.3 trillion (£1.7tn) to the national debt, which is currently around $36.2tn (£27tn).

Medicaid

Perhaps the most contentious item in the bill are cuts - partly through work requirements - to Medicaid, a healthcare programme aimed at lower-income Americans.

Some Republicans are pressing for the bill to go further, while others have argued against any cuts to Medicaid, warning they would hurt millions of lower-income constituents.

State and local tax deductions

Some Republicans are seeking larger tax cuts and they want the bill to provide bigger tax credits for what people pay in state and local taxes - known as Salt.

Food assistance

Every year more than 42 million Americans use federal food aid called Snap, which stands for Supplemental Nutrition Assistance Program, to buy groceries.

Many House Republicans want to shrink the amount the government pays for "food stamps".

• We have more details on the main sticking points in the bill in our explainer

Image source, Getty Images

A Republican senator has called on his colleagues in the Senate to “get it done”, after Donald Trump’s wide-ranging tax and spending bill ed its first stage.

After the so-called “big, beautiful” bill was voted through the House of Representatives, it will head to the Republican-led senate for approval.

“I can’t wait to dig into the details”, Senator Tim Scott tells Fox News. “The American people deserve to keep their tax cuts.”

“The promises that President Trump made on the campaign trail will be the promises that the Senate Republicans will keep before the 4th July.”

Republicans drag the bill over the line, but this is just the first hurdlepublished at 13:38 British Summer Time

13:38 BST

Anthony Zurcher
North America correspondent

The House’s age of the massive spending and tax-cut legislation is just the latest testament to Donald Trump’s vice-like grip on the Republican Party.

The bill adds trillions of dollars to the federal debt. It raises the national borrowing limit by even more Its lengthy text was released just hours before lawmakers were asked to vote on it.

Conservative hard-liners have found all this unacceptable in the past - and during the Biden istration brought down their own House leadership because of such moves.

Today, at Trump’s request, they fell in line or, at least, enough of them to drag the bill, chock full of Trump agenda items, over the finish line in the chamber.

It’s just the first hurdle to clear, but it’s a big one.

The Senate will have the chance to approve or change provisions in the bill. If they do, the House will have another high-stakes vote with another chance for things to go wrong.

At least for the moment, however, the Republicans in Congress pulled together and delivered their party a victory that could leave a significant mark on US tax and spending policy for years to come.

Image source, Getty Images

We're getting the first words from Donald Trump after his bill was ed early this morning.

In a social media post, the US president calls it "arguably the most significant piece of Legislation that will ever be signed in the History of our Country!"

He suggests it will bring a number of benefits including "MASSIVE Tax CUTS and "Pay Raises for our ICE and Border Patrol Agents".

Trump then praises Republicans who voted for the bill and says "there is no time to waste" before the Senate gets to work on it.

As we've been reporting, the bill had faced criticism from some Republicans as well as Democrats.

The president had added pressure earlier in the week in a bid to get the legislation through.

Last-minute amendments were also necessary however - with a 42 page document released last night listing a number of changes to the bill.

Among alterations were bringing forward the implementation of Medicaid work requirements from the beginning of 2029 to the end of 2026, our US partner CBS News reports.

Changes were also made to policies around tax credits for new renewable energy power plants among other areas.

The bill ed with 215 votes to 214 - some Republicans stood their ground and voted against the bill.

Trump, and other Republicans, have been calling this the "big, beautiful" bill.

Centring on tax and spending cuts - the legislation would take tax cuts brought in during Trump's first term as well as bringing in additional measures.

Other priorities for the president are to eliminate taxes on tips, spend more on defence and border security and cut government health care programmes including Medicaid - a healthcare programme aimed at lower-income Americans.

The bill had been met with criticism from some Republicans, as well as the Democrats.

Some were concerned the cuts would be detrimental to lower-income individuals, others wanted the bill to go further.

Calling the bill the "GOP Tax Scam", the Democrats have pledged to use "every tool at [their] disposal" to fight against it.

In a t statement written by Democratic Leader Hakeem Jeffries, Whip Katherine Clark and Caucus Chair Pete Aguilar, they say: "Donald Trump’s One Big Ugly Bill will mean millions of families will pay higher s, copays and deductibles.

"Hospitals will close, nursing homes will shut down and communities will suffer."

The statement says the bill is "deeply unpopular" - accusing the Republicans of advancing it "during the dead of night".

"For more than 28 hours, beginning with Rules Committee Ranking Member Jim McGovern, Democrats forced Republicans to debate this toxic legislation before the American people," it continues.

"This fight is just beginning."

Image source, Reuters

We can now bring you some reaction from House Speaker Mike Johnson who calls the bill a "generational, nation-shaping legislation".

In a statement published after the bill had been ed, he writes: "The media and the Democrats have consistently dismissed any possibility of House Republicans succeeding in our mission to enact President Trump's American First agenda.

"Once again they have been proven wrong."

Johnson adds that House Democrats voted against the bill - suggesting this proves they want things like "tax hikes" and "open borders".

"We look forward to the Senate's timely consideration of this once-in-a-generation legislation and stand ready to continue our work together to deliver The One Big Beautiful Bill to the president's desk."

Mike Wendling
BBC News

Image source, Reuters

Many of US President Donald Trump's top priorities are in the legislation: extending tax cuts ed in 2017, eliminating taxes on tips, spending more on defence and border security, and cutting government health care programmes.

The president has called his proposal a "big, beautiful, bill" – the measure is now officially known as the "One Big Beautiful Bill Act"

The Congressional Budget Office (CBO) estimates the bill would add about $2.3tn (£1.7tn) to the US national debt over the next 10 years.

Trump campaigned on promises to reduce the US budget deficit - meaning the annual gap between the government's tax revenue and its spending.

Now that the bill has won approval in the House, it will head to the Republican-led Senate, which could make its own changes.

The package ed the House on party lines - 215 votes to 214.

"Legislation of this magnitude is truly nation shaping and life changing," said House Speaker Mike Johnson before the vote, which capped an all-night debate.

"It's the kind of transformational change that future generations will study one day.

"They'll look back at this day as a turning point in American history."

A massive tax and spending bill has just been ed by the US House of Representatives.

The so-called mega-bill would extend tax cuts from President Donald Trump's first term, end taxes on tips, and increase military and border spending.

The bill still needs to the Senate.

We’ll have more news and analysis in this page as it happens.