The U.S. House passed President Trump's massive budget bill on Thursday with a 218-214 vote, two days after the Senate narrowly passed the legislation, 51-50, with Vice President JD Vance giving the tie-breaking vote. Mr. Trump plans to sign the bill at the White House on Friday, July 4.

The Tax Policy Center, which provides nonpartisan analysis of tax and budget policy, projected the bill would result next year in a $150 tax break for the lowest quintile of Americans, a $1,750 tax cut for the middle quintile and a $10,950 tax cut for the top quintile. That’s compared with what they would face if the 2017 tax cuts expired.

Republican lawmakers have handed President Donald Trump the first major legislative achievement of his second term, following a fierce arm-twisting campaign by GOP leaders to unite a deeply divided party behind his sweeping domestic agenda.