America’s big, beautiful billfold: Trump now has to sell markets and voters on his signature law

Published July 18, 2025 5:05am ET



Senate Minority Leader Chuck Schumer (D-NY) didn’t have many victories in the struggle over the large budget reconciliation bill that Republicans pushed through Congress and President Donald Trump signed into law on July 4. However, he did change its name.

“I raise a point of order against lines page 1, lines 3-5, of the pending amendment, which violates section 313(b)(1)(a) of the Congressional Budget Act of 1974,” he said, hours before the bill’s passage.

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