Trump celebrates passage of 'Big Beautiful Bill' at America250 kickoff rally: 'Declaration of independence from a national decline' | 3 July 2025 | President Trump celebrated his just-passed "One Big Beautiful Bill Act" Thursday as "a declaration of independence from a national decline" while kicking off a year of events going into America's 250th anniversary. Trump, 79, told a large rally at the Iowa State Fairgrounds that the bill makes good on his major campaign promises to slash taxes on tips, overtime and Social Security benefits. "With this bill, every major promise I made to the people of Iowa in 2024 became a promise kept," Trump said as he prepared for a Fourth of July bill-signing Friday on the White House lawn. Trump said his landmark legislation "includes the largest tax cut in American history, the largest spending cut in American history and the largest border security investment in American history."