Americans react to passage of Trump's budget bill

A huge victory for the president. The House gives final approval to his massive spending and tax-cut bill.

From CBS News headquarters in New York, this is the CBS EveningNews. Good evening. I'm John Dickerson. Maurice DuBois is off. President Trump will have more to celebrate tomorrow than America's birthday. He will sign the signature piece of domestic legislation of his second term, a massive spending package that will extend the tax cuts of his first term but make big cuts in social programs to help pay for them. Congress passed the bill barely and despite opposition and threats from the president's sometimes friend and advisor, sometimes not, Elon Musk. Musk said the package adds to the deficit. It took a tie-breaking vote by the vice president to get it through the Senate. Today, it passed the House 218 to 214, as two Republicans joined all the Democrats in voting no. Nikole Killion is in Washington, but we begin with Caitlin Huey-Burns in Des Moines, where the president is holding a rally and claiming the bill will make the economy take off like a rocket ship. Caitlin. John, President Trump will begin selling that bill here in Iowa tonight. And as the House was going through that marathon voting session, we found people here in Iowa watching it very closely, too, anxious to know what it might mean for them. As the bill passed in Washington--

The motion is adopted. CAITLIN HUEY-BURNS: --Ben Smith in Iowa, owner of Smitty's Tenderloin, breathed a sigh of relief. The restaurant has been in Smith's family for generations. He says the bill's provision eliminating federal taxes on tips could help his industry. What does that mean for you as a restaurant owner, no tax on tips for your employees? I look at it as a good opportunity to just to see our employees see the fruits of their labor and their hard work. CAITLIN HUEY-BURNS: Deana [? Mutscheller ?] has been working at Smitty's for nearly four for decades. We don't expect a tip. Well, I don't, but it will benefit our future waitresses a lot. CAITLIN HUEY-BURNS: The 900-page bill also eliminates federal taxes on overtime pay, extends Trump's 2017 tax cuts, provides increased spending on border security and defense, and gives businesses tax deductions for new equipment. But the nonpartisan Congressional Budget Office estimates the bill will add $3 trillion to the deficit. To pay for it, lawmakers made deep cuts to some social programs, including nearly $1 trillion from Medicaid, which could leave nearly 12 million uninsured, something that worries customer Janie Nagel, who says her cousin relies on the program. I'm concerned about her not having the medical care that she needs, that there are so many people-- how do we know who gets cut? And I feel bad that they're taking that away. CAITLIN HUEY-BURNS: The legislation also impacts the renewable-energy industry and the electric-vehicle market. Here's my colleague, Nikole Killion, with that.

Rob Smith has been in the car business for more than 35 years. He manages dealerships in Florida, Pennsylvania, and Maryland, where electric vehicles have become a growing part of his business. How many electric vehicles do you have on this lot? On this particular lot, we've got around 110 right at the moment.

But he's considering scaling back on his inventory. That's because, come September 30, consumer tax breaks on electric vehicles are expected to end under the newly passed Republican megabill. That includes credits of up to $7,500 towards the purchase of new vehicles and $4,000 for those that are used. The incentives helped boost sales. Business is very good in the electric-vehicle market, yes. Are you concerned that could change if this EV tax credit is rolled back?

Absolutely. People need to know how much things are going to cost, and they want predictability for their planning for their family budget.

The issue drove a wedge between President Trump and Tesla's Elon Musk. Elon is very upset that the EV mandate is going to be terminated.

But the legislation makes good on the president's campaign pledge to roll back the Biden-era credit and other clean-energy provisions, like wind and solar credits passed under the Inflation Reduction Act. We're in a battle for the future of what we like to call the clean economy.

Nick Nigro with Atlas Public Policy says the move to end the credit and other renewable-energy subsidies could be a blow to US automakers, already struggling to catch up to China. 50% of all new vehicles purchased in China are electric vehicles. They dominate the solar industry. The US is really trying to play catch-up in the last few years, but with this enactment of this law, we introduce even more uncertainty in what the future of the clean economy looks like for the US and, therefore, manufacturing industry and lots and lots of jobs. Nikole, the president's sales job on this will start when he signs it or continue when he signs it. So when will that be? Well, the president asked Congress to deliver this big, beautiful bill to his desk by July 4, and so that's when he's going to get it, and that's when he's going to sign it in a ceremony tomorrow afternoon. Short time ago, he told reporters he made no deals to win over lawmakers.