The House of Representatives approved the fiscal year 2026 federal budget bill, commonly referred to as "one big, beautiful bill," with a 218 to 214 vote on Thursday afternoon.

The bill would add $3.4 trillion to the nation’s $36.2 trillion debt. President Donald Trump’s tax-cut package cleared its final hurdle in the U.S. Congress on Thursday, as the Republican-controlled House of Representatives narrowly approved the massive bill and sent it to him to sign into law.

The Congressional Budget Office projects the bill would increase federal deficits over the next 10 years by nearly $3.3 trillion from 2025 to 2034.