What you need to know about the One Big, Beautiful Bill Act

President Trump came to the House Republican Conference meeting Tuesday morning to energize support for the One Big, Beautiful Bill, answer lawmakers’ questions, and try to convince those currently holding out for more changes to accept the bill as it is. It’s not fully clear how many holdouts there are at this point, perhaps as many as a dozen, according to one member of the Oklahoma delegation, but Speaker Mike Johnson can only afford to have three no votes, assuming every Democrat is present and all vote no, as expected.

Negotiations with the two factions voicing the stiffest opposition, the Freedom Caucus and the SALT Caucus, have continued on Tuesday, even as the bill is scheduled for consideration in the Rules Committee beginning at 1:00 a.m. Wednesday morning. (That’s not a typo—one o’clock in the morning.) If the bill gets through Rules, it could be brought to the floor for a vote of the full House on Wednesday or Thursday. A simple majority would then send the 1100-page bill to the Senate, where it’s likely, according to many GOP Senators, to see many changes. 

According to several published reports, here are the latest key components of the bill:

Medicaid—work requirement changes

The bill imposes new work requirements on able-bodied Medicaid recipients aged 19-64 who don't have dependents, which includes working or volunteering at least 80 hours per month. The bill also requires states to conduct eligibility redeterminations at least every six months for all recipients.

Under the bill's current text, these work requirements don't kick in until 2029, as President Trump leaves office. But some Freedom Caucus members, including Oklahoma’s Josh Brecheen, are demanding that the date be moved up to 2026 or 2027.

Early estimates requested by House Democrats put the number of people who could lose coverage under these terms at more than 8 million, but the nonpartisan Congressional Budget Office has not yet released its final score of the GOP bill.

The bill also would increase copays for Medicaid recipients who make more than the federal poverty limit, which, for single beneficiaries, is just over $15,500. They would be required to pay an extra $35 copay for some visits.

SNAP Cuts

The bill would tighten eligibility requirements for the Supplemental Nutrition Assistance Program (SNAP). Adults aged 55-64 and children would face additional work requirements to qualify for SNAP benefits.

The bill would also shift some cost of SNAP, which is currently 100% federally funded, to states. As written, states would share in at least 5 percent of SNAP benefit costs starting in 2028. Almost 700,000 Oklahomans (17% of the population) receive SNAP benefits.

Tax Policy and SALT

Fulfilling one of President Trump’s campaign promises, the bill would exempt workers who receive tips from paying federal income taxes on them, as long as they make less than $160,000 a year. The tax break would expire at the end of 2028, after the next presidential election.

The bill would also make the tax cuts from the 2017 Tax Cuts and Jobs Act permanent. It would not add a new tax bracket for the nation’s highest earners, something Trump had said he would be okay with.

The current bill raises the SALT cap, the deduction limit of state and local taxes from your federal income tax filing, from $10,000 to $30,000 for joint filers making less than $400,000 per year. Republicans from states such as New York and California are pushing leadership for a bigger increase. Trump had supported the idea of getting rid of the cap, but more recently has had a change of heart, reportedly telling New York members Tuesday that if they lose their re-election bids, it won’t be a use of a continued cap on SALT.

Border Security 

The legislation provides almost $50 billion to revive construction of Trump's wall along the U.S.-Mexico border, and it makes changes to immigration policy.

The bill includes $4 billion to hire an additional 3,000 new Border Patrol agents as well as 5,000 new customs officers, and $2.1 billion for signing and retention bonuses.

There are also funds for 10,000 more ICE officers and investigators.

Debt Ceiling

The bill includes a $4 trillion increase to the statutory debt limit as Treasury Secretary Scott Bessent calls on Congress to act by the end of July.