U.S. President Donald Trump signed his signature package of tax breaks and spending cuts, which he has dubbed the “Big Beautiful Bill,” into law on Friday after the House of Representatives narrowly approved the sweeping legislation.

Trump signed the bill during a White House ceremony on the Fourth of July, standing alongside Republican lawmakers and Cabinet officials.

“It’s the most popular bill ever signed in the history of the country,” he said, noting, “I’ve never seen people so happy in our country because of that, because so many different groups of people are being taken care of: the military, civilians of all types, jobs of all types.”

He said that everything has been combined into one bill. “We’ve never had anything like that before.”

"America's winning, winning, winning like never before," he added.

The 870-page bill extends Trump’s 2017 tax cuts, cuts Medicaid, adds tax breaks on tipped income and Social Security, boosts defense spending by $150 billion, reduces clean energy tax credits established during the Biden administration, and allocates $100 billion to Immigration and Customs Enforcement (ICE).

Republicans say the bill prevents a major tax hike that would occur when Trump-era breaks expire, includes $4.5 trillion in tax cuts, and makes current rates permanent.

The bill also includes temporary tax deductions for tips, overtime pay, and seniors, and raises the child tax credit to $2,200; however, many low-income families may not qualify for the full credit.