House passes Big, Beautiful Bill

At 6:55 a.m. Thursday, after debate overnight, the House passed the bill 215-214.

Shortly before 9 p.m. Wednesday, House Republican leaders unveiled the finishing touches to the bill — a 42-page “manager’s amendment” — to win the needed votes, Politico reports. The Politico article links to details of some of the changes to the bill.

Included in the manager’s amendment is an increase to the state and local tax (SALT) deduction cap that moderate Republicans from high-tax blue states had demanded. The text lays out a $40,000 deduction cap for individuals making $500,000 or less — the agreement that moderate GOP lawmakers struck with Speaker Mike Johnson, R-La., on Tuesday night, The Hill says.