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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, 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. 

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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. 

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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. 

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. 

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. 

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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.

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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. 

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.