In a sweeping new fiscal package, lawmakers have unveiled a major overhaul of tax policy, federal spending, and entitlement programs. Here’s a breakdown of what’s in the plan.

U.S. President Donald Trump signed his landmark policy bill, the One Big Beautiful Bill, into law on Friday afternoon. The signing ceremony at the White House came a day after the bill was narrowly passed by the House of Representatives on Thursday.

Longer term, however, the bill has largely been seen as bad news for the U.S. bond market and the nation's fiscal health. It will add $3.4 trillion to the nation's debt over the next decade, nonpartisan analysts have estimated.