Trump to sign 'big, beautiful' bill at White House July 4th picnic

President Donald Trump plans to sign his "big, beautiful" budget bill of tax breaks and steep Medicaid cuts Friday at the White House July 4th picnic .

Trump had given a July 4 deadline for passing the bill, which was achieved by very narrow margins in both the House and Senate. It passed by a single vote in the Senate, and passed the House with a 219-213 vote Thursday. Two Republicans voted against it in both the Senate and the House. 

Trump’s political victory

What they're saying:

Trump says the bill is "going to make this country into a rocket ship. It’s going to be really great." 

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"I want to thank Republican congressmen and women, because what they did is incredible," he said Thursday night in Iowa, where he attended a kickoff of events celebrating the country's 250th birthday next year.

The president complained that Democrats voted against the bill because "they hate Trump — but I hate them, too."

The other side:

Democrats, meanwhile, were unanimous in their opposition, calling it a giveaway to the rich that will rob millions more lower-income people of their health insurance, food assistance and financial stability.

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"I never thought that I’d be on the House floor saying that this is a crime scene," Democratic leader Hakeem Jeffries of New York said during a record-breaking speech that delayed the bill's passage by eight-plus hours. "It’s a crime scene, going after the health, and the safety, and the well-being of the American people."

What’s in the ‘big, beautiful’ bill? 

By the numbers:

The legislation extends Trump’s 2017 multi-trillion dollar tax cuts and cuts Medicaid and food stamps by $1.2 trillion. It provides for a massive increase in immigration enforcement. Congress’ nonpartisan scorekeeper projects that nearly 12 million more people will lose health insurance under the law.

How Trump’s policy package could impact your wallet

President Donald Trump’s "big, beautiful bill" passed its second vote in the House on Thursday. President Trump is anticipated to sign the bill into law, likely on July 4. LiveNOW's Austin Westfall is gathering information on the potential impacts of the bill's passing from Sara Barba, managing partner at Integer, LLC.

The Congressional Budget Office estimates the package will add $3.3 trillion to the deficit over the decade and 11.8 million more people will go without health coverage.

What do Americans think of the bill? 

Dig deeper:

Trump described the package as "very popular," though polling suggests that public opinion is mixed at best.

RELATED: More than half of Americans oppose Trump's spending bill, poll shows

A Washington Post/Ipsos poll found that majorities of U.S. adults support increasing the annual child tax credit and eliminating taxes on earnings from tips, and about half support work requirements for some adults who receive Medicaid.

Trump speaks after tax bill passes in House

President Donald Trump spoke to reporters Thursday in Washington D.C. as he prepared to depart for an event in Iowa, where he will kick off a yearlong celebration of America's 250th anniversary. They were his first public remarks since the House passed the Big Beautiful Bill Act, a massive tax package. Trump is expected to sign the bill on Friday.

But the poll found majorities oppose reducing federal funding for food assistance to low-income families and spending about $45 billion to build and maintain migrant detention centers. About 60% said it was "unacceptable" that the bill is expected to increase the $36 trillion U.S. debt by more than $3 trillion over the next decade.