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The House-passed bill includes a large tax cut, as well as more money for defense and immigration enforcement, financed in part by slashing health, nutrition, education and clean energy programs.

The Pentagon funding could provide a much-needed boost to barracks maintenance, military health care and other areas that directly affect the well-being of service members.

The U.S. House has passed a sweeping $3.8 trillion tax-and-spending package, narrowly approved in a 215–214 vote. Dubbed by former President Donald Trump as the “One Big Beautiful Bill,” it combines broad-based tax relief with deep cuts to social spending and marks a major turning point in U.S. fiscal policy.

The decidedly unsexy bond market is usually pretty quiet. But when they want to, bond investors can send a loud, clear message to Washington. They did just that Wednesday and Thursday. The 20-year bon