President Donald Trump’s sweeping ‘One Big Beautiful Bill’ has officially cleared Congress after a razor-thin vote of 218–214, with two Republican lawmakers breaking party ranks to oppose it. The bill, now awaiting Trump’s signature—expected on July 4—ushers in major changes to child tax credits and student loan repayment programs.
Trump hailed the legislation as a “massive win” for American families and national security, while critics called it a blow to struggling households and students.
👶 Child Tax Credit: Minor Raise, Major Debate
- The Child Tax Credit will be increased from $2,000 to $2,200 per child.
- The Trump administration claimed this modest hike aligns with its pro-life policies aimed at supporting families.
- However, economists and family advocates argue the change is inadequate, particularly as inflation has eroded the value of the original $2,000 credit introduced in 2018.
- For context, the pandemic-era credit was $3,000–$3,600 per child, but that was temporary and expired post-2021.
📉 Criticism:
The $200 increase is being seen as largely symbolic, failing to match the rising cost of living and childcare expenses in 2025 America.
🎓 Student Loans: Two Plans Only, SAVE Plan Scrapped
The bill overhauls federal student loan repayment programs, narrowing options for borrowers:
- Only two repayment plans will remain:
- Standard Repayment Plan
- Repayment Assistance Plan (details pending further clarification)
- Those already enrolled in plans can retain them—except for borrowers under the SAVE Plan, who must now transition to one of the new options.
⚠️ Key Impact:
The SAVE Plan, which offered income-driven repayment with forgiveness pathways, will be eliminated under the new bill.
📚 What This Means:
- Students currently benefiting from low monthly payments or potential loan forgiveness under SAVE may face increased payments or longer repayment terms.
- Education advocates warn this could disproportionately affect low-income borrowers and first-generation college students.
🗳️ What’s Next?
The bill now heads to President Trump’s desk, with a dramatic July 4th signing ceremony planned, accompanied by a military flyover featuring B2s, F22s, and F35s above the White House.
Once signed, the Big Beautiful Bill will become law—redefining tax, welfare, and education policy for millions of Americans.