The U.S. House of Representatives managed to pass the H.R. 1 One Big Beautiful Bill Act last week with a margin of just 215-214. This was a significant feat for the Republicans. Even though the current split in the House is 220 GOP to 212 Dems (and 3 vacancies due to death since the elections), 2 GOP members voted against the bill, 2 abstained, and one fell asleep in the back and did not manage to wake up in time to vote. Next up will be the Senate, but with a majority of 53, this bill should have a much easier time of it when it heads to a vote.
In this Economics Weekly, Richard de Chazal discusses the bill, highlighting some of the main areas where it supports growth and where it will detract from it, as well as section 899.