Congressional Republicans are hoping to send their sweeping tax and spending cuts package, otherwise known as the “big, beautiful bill,” to President Donald Trump’s desk by July 4. The House and Senate have each narrowly passed their own versions of the bill.

The House on Thursday passed the signature piece of legislation of President Trump's second term, approving his "big, beautiful bill" by a vote of 218 to 214.

With a July 4 deadline looming, here are the basics of President Donald Trump's Big Beautiful Bill and how the Senate and House versions differ.