India, July 4 -- The One Big Beautiful Bill Act, once signed into law by President Donald Trump, will bring in several changes to Medicaid, healthcare, tax policy, SALT deductions, and introduce car loan interest provisions. The legislation was passed by the House in a 218-214 vote after a tie-breaking vote by VP JD Vance pushed it through the Senate.

The bill is centered around $4.5 trillion in tax breaks enacted in 2017 during Trump's first term. It also includes allowing workers to deduct tips and overtime pay, and a $6,000 deduction for most older adults earning less than $75,000 a year. Two Republicans on Thursday joined Democrats to vote against the bill.

The bill reduces Medicaid funding by $698 billion over 10 years, introducing...