News Wrap: Trump signs his One Big, Beautiful Bill Act into law

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• John Yang:

  Welcome to the "News Hour."

  As Americans celebrate their freedom on this Independence Day, President Trump is celebrating a decisive win for his domestic agenda. His second-term legislative wish list officially entitled the One Big Beautiful Bill Act is now law.

  (Cheering)

• John Yang:

  Given the gavel they used to clinch the legislation, the president signed the sweeping tax and spending cuts surrounded by congressional Republicans. He touted the bill as one having a generational impact.

  Donald Trump, President of the United States: It includes the largest tax cut in American history, the largest spending cut, $1.7 trillion, and yet you won't even notice it, just waste, fraud and abuse, in American history. So you have the biggest tax cut, the biggest spending cut, the largest border security investment.

• John Yang:

  The new law is unprecedented in many ways, extending the tax cuts of Mr. Trump's first term along with others to the tune of $4.5 trillion, adding another $1.4 trillion in spending cuts and, according to the Congressional Budget Office, adding a record $3.2 trillion to the deficit over the next 10 years.

  Across Ukraine last night, Russia unleashed an aerial assault of drones and missiles. Officials say the all-out attack was the biggest so far of the war. It came just hours after President Trump said little progress was made and a phone call with Russian President Vladimir Putin, which he said was disappointing.

  The Ukrainian capital of Kyiv was the primary target. The barrage of more than 550 drones and missiles lasted more than seven hours, killing one person and injuring dozens. Ukrainian leaders called it a brutal sleepless night. Daybreak revealed scenes of destruction with the air still heavy with smoke.

• Tetiana Zarudna, Kyiv, Ukraine, Resident (through interpreter):

  Something was flying every minute. The drones were descending, and then bang, bang. Then we realized that our building had been hit. Everything is covered in soot now. It's difficult to breathe.

• John Yang:

  Ukrainian President Volodymyr Zelenskyy said he had a fruitful call with President Trump hours after the attack. The two talked about ways to help Ukraine improve its air defenses after the United States recently paused some weapons deliveries.

  In Gaza, at least 35 Palestinians were killed in another day of Israel's relentless military campaign against Hamas. Israeli airstrikes claimed more than a dozen lives, while hospital officials said about 20 others were fatally shot as they waited for humanitarian aid convoys.

  Today, the U.N. said that, in the span of a month, it's recorded the deaths of more than 600 Palestinians trying to get aid. U.N. officials called for an independent investigation.

  Ravina Shamsadani, Spokeswoman, United Nations High Commissioner for Human Rights: It is clear that the Israeli military has shelled and shot at Palestinians trying to reach the distribution points. How many killings, who is responsible for that, we need an investigation. We need access. We need an independent inquiry. And we need accountability for these killings.

• John Yang:

  Meanwhile, a senior U.S. negotiator tells PBS News that Hamas still has reservations about President Trump's 60-day cease-fire proposal, but is willing to discuss them in this weekend's talks in Qatar. Mr. Trump said Israel has already agreed to the deal.

  Severe weather on this July 4 has turned deadly in parts of the country. Texas Lieutenant Governor Dan Patrick said at least six people are dead in Kerr County, and more than 20 others are still missing, some of them children, after close to 10 inches of rain caused flash floods along the Guadalupe River. Meteorologists say the water rose 22 feet in just two hours.

  Meanwhile, in New Jersey, at least three people are dead after intense thunderstorms last night. The deaths were the result of toppled trees. The city of Plainfield declared a state of emergency and canceled its Fourth of July festivities.

  Meanwhile, parts of Europe are dealing with a different set of difficult conditions. Wildfires burned across Turkey today and new blazes broke out in Greece, where this week flames have already charred thousands of acres. And a record-breaking heat wave is lingering over much of the continent.

  In Bulgaria, construction workers braved the hazardous temperatures, while, in Sicily, beachgoers soaked up the sun's rays and took advantage of the sea to cool off. Forecasters say that heat is likely to finally let up over the weekend.

  And, of course, it wouldn't be the Fourth of July without hot dogs, namely this year's Nathan's Hot Dog Eating Contest. Competitor eater Joey Chestnut reclaimed his title today after a year away with plant-based competitor Impossible Foods. Chestnut won his 17 Mustard Belt by downing 70.5 hot dogs in 10 minutes.

  In the women's competition, Miki Sudo defended her title with 33 hot dogs. Last year, she ate a record 51 franks.