Republicans contend that the legislation's permanent business tax breaks will goose the economy ahead of the November 2026 election, leading to job growth, higher wages and lower prices for groceries and energy.

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.

A final House vote is expected Thursday for President Trump's second-term agenda on tax reductions, immigration enforcement and deep Medicaid cuts.