President Trump on Friday signed his signature tax and spending legislation, the "big beautiful bill," into law, meeting a July 4 deadline that at times appeared out of reach. Why it matters: It's a huge achievement for Trump and congressional Republicans that will reshape federal fiscal policy for years to come.

President Donald Trump on Friday signed the One Big Beautiful Bill Act into law after a hard-fought battle to secure his second-term agenda, celebrating the sweeping legislation that delivers his campaign promises to voters during a festive Independence Day event at the White House.