Republicans have set a self-imposed July 4 deadline to pass the legislation in both chambers and send it to Trump’s desk.

A softening Treasury bond market and surprise downgrade Friday of U.S. creditworthiness are the latest forces weighing on the GOP megabill — an unmistakable nudge to lawmakers that investors are growing increasingly concerned about legislation that could pile trillions of dollars more onto an already staggering national debt.

Foreign investors are anxiously monitoring negotiations over the GOP spending megabill, which threatens to further balloon the deficit. Some are responding to the market turmoil by turning away from U.

Investors burned by President Trump’s trade fight now have to contend with a spending megabill that risks swelling the federal deficit.

Freedom Caucus Chairman Andy Harris said there is “no way” the “One Big Beautiful Bill Act” passes in the House on Wednesday.

Opponents of the legislation have reason to be disappointed by the outcome of Thursday morning’s vote, but there will be other opportunities to derail it.