FIRST ON FOX: An internal House GOP memo sent to Republican lawmakers and obtained by Fox News Digital highlights the party’s key accomplishments included in President Donald Trump’s «big, beautiful bill.»

House Republicans passed all 1,118 pages of Trump’s «one big, beautiful bill» on Thursday morning, after working through hourslong committee meetings, last-minute huddles in the speaker’s office and even a last-minute push from the president. 

Finally, late Wednesday night, House leadership found consensus among key factions of the Republican caucus. The late-night «manager’s amendment» appeased lingering Republican holdouts, including fiscal hawks who wanted more reform on Medicaid and former President Joe Biden’s green energy subsidies, and blue state Republicans seeking to raise the cap on the state and local tax (SALT) deduction. 

The bill is a sweeping multitrillion-dollar piece of legislation that advances Trump’s agenda on taxes, immigration, energy, defense and the national debt. It aims to slash the federal government’s spending trajectory by cutting roughly $1.5 trillion in government spending. The U.S. government is over $36 trillion in debt and has spent $1.05 trillion more than it has collected in the 2025 fiscal year, according to the Treasury Department. 

The bill raises the debt ceiling by $4 trillion. 

MIKE JOHNSON, DONALD TRUMP GET ‘BIG, ‘BEAUTIFUL’ WIN AS BUDGET PASSES HOUSE

The internal House Republican memo shared with Fox News Digital summarizes Republicans’ key legislative accomplishments. 

According to the memo, the bill reduces the deficit by $238 billion through the Agriculture Committee, securing $294 billion through Supplemental Nutrition Assistance Program (SNAP) benefit reform. It reinvests $56 billion in SNAP benefit savings into rural America. 

HOUSE GOP LEADERSHIP TAKES VICTORY LAP AFTER PASSING TRUMP’S ‘ONE BIG, BEAUTIFUL BILL’

Republicans say the SNAP reform restores its integrity by requiring states to pay a larger share for its benefits and incentivizing more state efficiency. It requires congressional approval for states to increase enrollment eligibility and creates SNAP work requirements for able-bodied adults who do not have young dependents. 

The Armed Services Committee increased defense spending by nearly $143 billion with improvements to service members’ quality of life, healthcare and family support. There are billions of dollars allocated to building the military’s arsenal, advancing technology and infrastructure and expanding military readiness. 

House Speaker Mike Johnson, center, and House Republicans celebrated passing President Donald Trump’s «big, beautiful bill» on Thursday. (Getty Images)

The bill allocates $34 billion for shipbuilding, $5 billion for border security enforcement, $400 million for the Department of Defense and $25 billion for Trump’s Golden Dome, which is a layered missile defense shield. 

It reduces the deficit by $349.1 billion through the Education and Workforce Committee, which made a series of reforms to streamline student loan payment options, support students and save taxpayer money. 

Specifically, the bill caps the total amount of federal student aid a student can receive annually to the median cost of the college, which is $50,000 for undergrad, $100,000 for graduate students and $150,000 for professional graduate programs. There is also a «lifetime limit» of $200,000. 

The Education and Workforce Committee consolidated student loans into two plans – a fixed mortgage-style plan or a repayment assistance plan. 

The U.S. Department of Education headquarters building in Washington, D.C. (J. David Ake/Getty Images)

It also establishes a performance-based PROMISE grant program, prevents future attempts at the loan forgiveness program championed by the Biden administration and reforms Pell Grant programs. 

The Energy and Commerce Committee, which had a lengthy overnight budget markup last week, includes a series of Medicaid reforms, which Democrats have railed against as conservatives pushed for more cuts. The bill establishes work requirements for able-bodied adults without dependents, requires state cost-sharing for adults above the poverty line, eliminates illegal immigrants from enrolling and reduces state funding for states who prioritize coverage for illegal immigrants. 

The Financial Services Committee in the «big, beautiful bill» includes reforms to save taxpayer money and reduce federal bureaucracy. Meanwhile, the Homeland Security Committee increases spending by a little over $79 billion to expand border security, and the Judiciary Committee increases spending by about $7 billion to stop illegal immigration. 

The Energy and Commerce Committee also delivered on one of Trump’s key campaign promises to unleash American energy by supporting domestic energy production and eliminating Biden-era green energy projects, including eliminating electric vehicle mandates. 

DEMOCRATS PREDICT PASSING TRUMP’S ‘BIG, BEAUTIFUL BILL’ WILL COST MANY REPUBLICANS THEIR SEATS

Demonstrators calling for the preservation of Medicaid funding are removed from the House Energy and Commerce markup of the FY2025 budget resolution in the Rayburn building on Tuesday, May 13, 2025. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

The Natural Resources Committee reduces the deficit by $18 billion to deliver Trump’s energy agenda. The bill reinstates quarterly onshore oil and gas lease sales, requires geothermal lease sales and mandates at least 30 lease sales in the newly-renamed Gulf of America over the next 15 years and six in the Cook Inlet in south-central Alaska.

It returns oil and natural gas royalty rates to before Biden’s Inflation Reduction Act, resumes leases on energy production in the National Petroleum Reserve in Alaska and the Arctic National Wildlife Refuge, resumes coal leasing on federal lands, increases timber sales and long-term contracts on federal lands and walks back funds allocated by the Biden administration for climate change. 

The bill includes amendments by the Oversight Committee that will reduce the deficit by $12 billion by eliminating retirement annuity payments for new federal retirees that are eligible to retire before age 62, allows new federal employee hires the option to elect to serve «at will» in exchange for higher take-home pay, requires a comprehensive audit of employee dependents currently enrolled in the Federal Employees Health Benefits Program plans.

TRUMP’S ‘BIG, BEAUTIFUL BILL’ PASSES KEY HOUSE HURDLE AFTER GOP REBEL MUTINY

President Donald Trump, left, and Speaker of the House Mike Johnson, R-La., talk with reporters after a House Republican Conference meeting on the budget reconciliation bill in the U.S. Capitol on Tuesday, May 20, 2025. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

Finally, the Ways and Means Committee makes the 2017 tax cuts permanent, which prevents a 22% tax hike, and delivers Trump’s campaign promises, including no taxes on tips, overtime pay or car loan interests. It also provides additional tax relief for seniors. The bill increases the university endowment tax and subjects the largest endowments to the corporate tax rate.

As touted in the House GOP memo, the bill also prevents taxpayer benefits from going to illegal immigrants by requiring a Social Security number for individuals claiming tax credits and deductions, ends illegal immigrant eligibility for Obamacare premium tax credits and Medicare, and applies new remittance payment fees for illegal immigrants. 

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The One Big Beautiful Bill Act passed in the U.S. House of Representatives 215 to 214. All Democrats and just two Republicans, Reps. Thomas Massie, R-Ky., and Warren Davidson, R-Ohio, voted against it. House Freedom Caucus Chair Andy Harris, R-Md., voted «present.»

Now, the Senate is tasked with passing their own version of the bill before it lands on Trump’s desk. Republican leadership is eyeing a July 4 deadline, but sparks are likely to fly in the Senate before Trump can claim a legislative victory. 

El presidente Donald Trump premió a los principales inversores en uno de sus proyectos de criptomonedas con una elegante cena el jueves por la noche. Este evento demostró el auge de una industria financiera emergente, así como la disposición del presidente a combinar el cargo público con el beneficio personal.

Unos 220 de los mayores inversores en la moneda meme $TRUMP fueron invitados al lujoso club de golf de Trump en el norte de Virginia, donde cenaron filete mignón y fletán.

Según publicaciones de los participantes en redes sociales, Trump habló durante aproximadamente media hora antes de bailar al ritmo de la canción «YMCA».

La criptomoneda meme $TRUMP, a menudo conocida como «Trump Coin», es una criptomoneda de tipo «memecoin» que se inspira y asocia directamente con la figura de Donald Trump y fue lanzada en vísperas de la toma de posesión.

El propio Donald Trump y su círculo cercano, incluyendo sus hijos, han estado involucrados en su promoción a través de redes sociales como X (anteriormente Twitter) y Truth Social.

A pesar de que la Casa Blanca insistió en que Trump asistiría al evento «en su tiempo libre», permaneció de pie tras un atril con el sello presidencial mientras promocionaba una industria que genera ganancias para su empresa familiar.

Tras sentirse injustamente atacada por el presidente Joe Biden, la industria de las criptomonedas se ha convertido rápidamente en una poderosa fuerza política, donando enormes sumas para ayudar a Trump y a legisladores afines.

El Senado de Estados Unidos está impulsando una legislación clave a favor de las criptomonedas mientras los precios del bitcoin se disparan.

Sin embargo, incluso algunos entusiastas de las criptomonedas pro-Trump se preocupan de que la participación personal del presidente pueda estar socavando sus esfuerzos por establecer credibilidad y estabilidad para la industria.

“Es desagradable y una distracción innecesaria”, dijo Nic Carter, partidario de Trump y socio de la firma de inversión en criptomonedas Castle Island Ventures, quien afirmó que el presidente nos está “abrazando hasta la muerte” con sus negocios privados de criptomonedas. “Preferiríamos que aprobara una legislación sensata y lo dejara así”.

A medida que el presidente usa las criptomonedas como plataforma para generar ingresos para su marca de maneras sin precedentes, también está creando una oportunidad para que compradores potencialmente sospechosos aprovechen el anonimato de internet para comprar acceso al presidente.

La falta de transparencia quedó patente en un cartel durante la cena, donde los participantes firmaron una clasificación de los principales inversores. Algunos usaron sus nombres reales; otros usaron seudónimos.

No se permitió el acceso de los medios a la cena, y el presidente solo estuvo en su club de golf durante una hora. Manifestantes se congregaron frente al club con carteles que decían «Alto a la corrupción en criptomonedas» y «No a los corruptos».

Trump calificó el evento como «bueno, muy bueno» al regresar a la Casa Blanca.

La preocupación por las inversiones de Trump en criptomonedas es anterior al Día de la Inauguración.

Tres días antes de que Trump asumiera el cargo el 20 de enero, anunció la creación de la moneda meme $TRUMP en el elegante Baile de Criptomonedas celebrado a poca distancia de la Casa Blanca. Lo describió como una forma de que sus seguidores se divirtieran.

Las monedas meme son la oveja negra del sector de las criptomonedas. A menudo se crean como una broma, sin ninguna utilidad real y propensas a fluctuaciones de precio extremadamente bruscas que tienden a enriquecer a un pequeño grupo de personas con información privilegiada a expensas de inversores menos sofisticados.

Sin embargo, la moneda meme del presidente es diferente y tiene una utilidad clara: el acceso a Trump. Además de la cena del jueves, los 25 mejores fueron invitados a una recepción privada con el presidente, donde los cuatro primeros recibieron relojes con temática de criptomonedas y la marca Trump por valor de 100.000 dólares.

La moneda meme de Trump experimentó un aumento inicial en su valor, seguido de una fuerte caída. Sus creadores, entre los que se encuentra una entidad controlada por la Organización Trump, han ganado cientos de millones de dólares cobrando comisiones por las transacciones.

Alan Suderman también contribuyó a este informe de Associated Press

President Donald Trump secured $2 trillion worth of deals with Saudi Arabia, Qatar and the UAE during his trip to the Middle East last week in what some have argued is a move to counter China’s influence in the region. 

While China has increasingly bolstered its commercial ties with top Middle Eastern nations who have remained steadfast in their refusal to pick sides amid growing geopolitical tension between Washington and Beijing, Trump may have taken steps to give the U.S. an edge over its chief competitor. 

But concern has mounted after Trump reversed a Biden-era policy – which banned the sale of AI-capable chips to the UAE and Saudi Arabia – that highly coveted U.S. technologies could potentially fall into the hands of Chinese companies, and in extension, the Chinese Communist Party (CCP).

TRUMP SIGNS ‘STRATEGIC ECONOMIC PARTNERSHIP’ WITH SAUDI ARABIA

China hawks on both sides of the aisle noted their concern after Trump entered into an agreement with the UAE to build the largest artificial intelligence hub outside the United States, coupled with the tens of billions of dollars’ worth of deals U.S. companies like Nvidia, ChatGPT, Google, Amazon and Qualcomm entered into with state-backed Saudi AI ventures, including direct chip sales.

«This deal could very well be dangerous because we have no clarity on how the Saudis and Emiratis will prevent the Chinese Communist Party, the Chinese government, the Chinese manufacturing establishment from getting their hands on these chips,» Senate Democratic leader Chuck Schumer said on the Senate floor last week. 

«Inevitably, when foreign countries end up with American-made chips, the CCP, the Chinese Communist Party, sooner or later gets ahold of these American chips and their secrets in them,» he said. «That’s why we’ve had such strong restrictions against exporting these chips to other counties.»

Similarly, following the announced deals, Republican chair of the House Select Committee on the Chinese Communist Party, Rep. John Moolenaar, R-Mich., took to X to say, «The CCP is actively seeking indirect access to our top tech. Deals like this require scrutiny and verifiable guardrails. 

«We raised concerns about G42 last year for this very reason—and we need safeguards in place before more agreements move forward,» he added in reference to an Emirati AI development holding company.

U.S. President Donald Trump attends a business forum at Qasr Al Watan during the final stop of his Gulf visit, in Abu Dhabi, United Arab Emirates, May 16, 2025. (REUTERS/Amr Alfiky)

TRUMP WRAPS MOMENTOUS MIDDLE EAST TRIP WITH ECONOMIC DEALS, SYRIA SANCTIONS RELIEF AND WARNING TO IRAN

By the end of Trump’s trip, the House Select Committee on the Chinese Communist Party had introduced new legislation «to stop advanced U.S. AI chips from falling into the hands of adversaries like the Chinese Communist Party (CCP).»

«The ambition is understandable – drawing the Gulf states deeper into the U.S. tech ecosystem is a logical way to counterbalance China’s growing influence,» Craig Singleton, China Program Senior Director and Senior Fellow with the Foundation for Defense of Democracies told Fox News Digital. «But the devil is in the details. 

«Without rigorous safeguards and clear conditions on technology transfer, there’s a real risk of leakage — whether it’s advanced chips, know-how, or access to AI platforms,» he warned. «If these deals lack meaningful restrictions, they could end up strengthening the very actors they’re meant to contain.»

The Commerce Department did not immediately respond to Fox News Digital’s questions on AI security.

While questions remain about the future of AI security, some reports suggested that the expanded U.S. agreements could help cement the U.S. as the global leader in the emerging technology and help shape its landscape.

But China has interests outside of AI in the region that pertain to security, economic and energy sectors – all of which the U.S. has a vested interest in deterring. 

United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan greets President Donald Trump at Abu Dhabi International Airport on Thursday, May 15, 2025.  (AP Photo/Altaf Qadri)

Trump was the first president in nearly 20 years to visit the UAE, which security experts have told Fox News Digital will go a long way to further not only geopolitical goodwill amid major unrest stemming from the wars in Gaza and Ukraine, but it could even further bolster economic and security opportunities between Washington and Abu Dahbi.

«Trump showing up and re-committing American military and economic power to support the UAE’s stability, security, and success in a dangerous neighborhood can pay real dividends going forward,» John Hannah, former national security advisor to Dick Cheney and current Randi & Charles Wax senior fellow at the Jewish Institute for National Security of America (JINSA), told Fox News Digital. 

 «Since at least the time of President Obama’s nuclear deal with Iran, there’s been a slow, but noticeable drift in UAE strategy away from its deep reliance on the United States toward more of a hedging policy of playing all sides of the global great game, including an increasingly close relationship with China,» he added.

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IN FLIGHT – MAY 14:  U.S. President Donald J. Trump speaks to travelling media aboard Air Force One on a range of issues, including Syria, as he flies to Doha, Qatar on May 14, 2025. Trump is on the second day of a multi-nation tour of the Gulf region focused on expanding economic ties and reinforcing security cooperation with key U.S. allies.  (Photo by Win McNamee/Getty Images)

Hannah explained that a period of American weariness of the Middle East enabled China to effectively expand its geopolitical interests in the vital region.

The expert pointed out that not only does the UAE host U.S. troops on its soil, but its trade value with the U.S. – even prior to the $1.4 trillion deal it reached earlier this year – was worth some $35 billion annually.

«With a country as influential and resource-rich as the UAE, correcting that unhelpful perception and putting the strategic relationship back on a much more positive dynamic is an important goal,» Hannah said. 

Fox News Digital could not immediately reach the UAE foreign ministry for comment.