1 Stock That Could Be a Huge Winner With President Trump's One, Big, Beautiful Bill

One vote. That was the difference in the early morning hours on Thursday, May 22, as the U.S. House of Representatives narrowly passed the One, Big, Beautiful Bill Act.

This bill is loaded with changes advocated by President Donald Trump. With a major hurdle out of the way, it's not too soon to contemplate what investing opportunities the potential passage of the legislation might create. I think Lockheed Martin (NYSE: LMT) could be a huge winner with the president's One, Big, Beautiful Bill.

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Big, beautiful, and golden

Several provisions in the GOP bill have received significant publicity. Many Republicans are excited about making the individual tax cuts passed in the first Trump administration permanent. Many Democrats vehemently oppose Medicaid changes in the legislation. However, the component in the One, Big, Beautiful Bill that should be most interesting to Lockheed Martin shareholders is funding for the Golden Dome for America.

No, the president doesn't want to build a giant dome over the country to go along with the "big beautiful wall with a big beautiful door" he promised to construct on the U.S.-Mexico border during his first term. Instead, the Golden Dome is a missile defense system along the lines of the Iron Dome system used by Israel.

Trump told reporters at the White House last week that the Golden Dome system could be completed within three years. He said, "Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world."

Lockheed Martin's pitch

Lockheed Martin is already arguing its case to be a key contractor on the Golden Dome. The aerospace and defense company added a page to its website highlighting the expertise it could bring to bear in building the missile defense system.

Exhibit A in Lockheed Martin's Golden Dome pitch is its work on the Command Control Battle Management Communications (C2BMC). The company worked with the Missile Defense Agency to build the C2BMC, which it calls "the world's most powerful missile defense software network."

The Golden Dome would be much more complex than the C2BMC. However, Lockheed Martin thinks its work on the existing system shows that it "has the proven, mission-tested capabilities and track record of integration to bring this effort to life." The company argues on its website, "This mission can't be left to chance with unproven technology -- the mission must be met with proven capability providers, who can deliver the greatest innovation, with high reliability, at scale, and ahead of need."

Lockheed Martin realizes it can't tackle the full Golden Dome project on its own. The company says it's "ready to partner with the best in industry, emerging and large technology companies together to safeguard our nation." It added, "Missile defense requires more than just AI or software expertise. It's about connecting a global array of complex systems that need to work at lightning speed and with pinpoint precision at the mission's moment of truth."

Is Lockheed Martin stock ready to skyrocket?

I think Lockheed Martin makes a compelling case for its involvement in the Golden Dome construction. Does that mean the stock is ready to skyrocket? Not necessarily.

For one thing, the U.S. Senate still must pass President Trump's One, Big, Beautiful Bill. That could be easier said than done, with Democrats unified in opposition and even some Republican senators wanting major changes before they'll vote for it.

Even if the legislation becomes law, Lockheed Martin will not be guaranteed a federal contract for the Golden Dome system. Others, including Elon Musk's SpaceX, are also reportedly in the running.

Importantly, the One, Big, Beautiful Bill includes only an initial $25 billion to begin development of the Golden Dome system. The Trump administration estimates the total cost will be around $175 billion.

However, some experts think the cost could be much higher. Ultimately, it's possible that the missile defense system won't be built even if the Senate passes the GOP bill. Still, if the Senate passes the legislation and Lockheed Martin is awarded a major contract for development of the Golden Dome system, it would likely provide a nice catalyst for Lockheed Martin's stock.

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Keith Speights has no position in any of the stocks mentioned. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy.