US President Donald Trump boasted of a 'phenomenal victory' to cheering supporters at a rally in Iowa on Thursday after Congress narrowly passed his signature tax and spending bill, cementing his radical second-term agenda.

Republicans muscled President Donald Trump's tax and spending cut bill through the House on Thursday, the final step necessary to get the bill to his desk by the GOP's self-imposed deadline of July 4th.

Congress passed the tax cut and spending megabill with President Trump's legislative priorities which includes new tax exemptions for tipped hourly workers. But how will it work?