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 signed the “One Big Beautiful Bill,” the spending bill containing his signature policies, on Friday, marking the culmination of months of negotiations that concluded just before the July 4 deadline Trump set to sign the bill into law.