U.S. House Speaker Mike Johnson (R-LA) says he is working to rally congressional support for President Donald Trump’s massive tax and spending cuts, also known as the “big beautiful bill.”

Johnson says the bill is “right on schedule and right on target” and that House Republicans are moving “aggressively” to advance Trump’s plan to boost the economy and strengthen the markets.

Johnson explained that the “one big beautiful bill has so many components, yet all of it is important and all of it is timely” and must be delivered to the American people.

U.S. Treasury Secretary Scott Bessent has promoted July 4 as the day to celebrate the tax and spending cuts but Johnson expressed a preference for getting the measure passed sooner than later.

Johnson told Fox News host Sean Hannity that seven committees are currently doing markups of the various pieces of legislation this week and that four other House committees will be taking up that work next week.

The following week, Johnson expects the Budget Committee to merge all that work into the “one big beautiful bill” and it will then be sent on to the Senate.

In addition to bringing stability to the markets and “turbo boosting” the economy, Johnson says the bill will also restore the principle of “peace through strength.”

Tax cuts are a major selling point for the measure with the promise of no taxes on tips, no taxing of Social Security benefits and no tax on overtime.

Rep. Nicole Malliotakis (R-NY) says the bill will also eliminate waste, fraud and abuse while preserving Medicaid benefits for eligible seniors, disabled and vulnerable citizens.

With the bill being opposed by most Democrats, it will require virtually full party support from GOP members of Congress to get the measure passed.