Millions will lose Medicaid coverage, hospitals’ uncompensated work will increase and insurers will lose big business.

In the classic Schoolhouse Rock song “I’m Just a Bill,” the bill laments the prospect of waiting with other bills, hoping to become a law. But President Donald Trump’s “Big Beautiful Bill” didn’t have to wait—it sped through Congress in recent days and landed on his desk in time for him to sign it into law by his July 4 deadline.

Trump's One Big Beautiful Bill Act eliminates the $200 fee that gun owners are charged when purchasing silencers and short-barreled rifles, but it remains in effect for machine guns and explosive devices.