U.S. President Donald Trump signed into law a massive package of tax and spending cuts at the White House on Friday, staging an outdoor ceremony on the Fourth of July holiday that took on the air of a Trump political rally.

President Trump on Friday signed his signature tax and spending legislation, the "big beautiful bill," into law, meeting a July 4 deadline that at times appeared out of reach. Why it matters: It's a huge achievement for Trump and congressional Republicans that will reshape federal fiscal policy for years to come.

P resident Donald Trump signed the “One Big Beautiful Bill,” the spending bill containing his signature policies, on Friday, marking the culmination of months of negotiations that concluded just before the July 4 deadline Trump set to sign the bill into law.

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Trump celebrates signing of narrowly passed bill during White House July 4 event: Live updates - Trump signed his ‘big, beautiful bill’ into law on Independence Day

The legislation extends Trump's 2017 multi-trillion dollar tax cuts and cuts Medicaid and food stamps by $1.2 trillion.