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.

The GOP megabill has new tax breaks aimed at low- and moderate-income households, and spending cuts that could make it harder for some to receive public assistance or hold onto health insurance.