Overview

• The GOP-led House approved the 1,118-page measure 215-214, extending 2017 tax cuts, eliminating taxes on tips and overtime and raising the SALT deduction cap to $40,000 for joint filers.
• Senate Democrats have vowed to oppose the bill’s partisan provisions while some Republicans call for deeper spending cuts or tighter debt controls ahead of amendments.
• The legislation imposes work requirements on able-bodied Medicaid recipients without children, mandates more frequent eligibility checks and bans coverage of gender transition services.
• It allocates $46.5 billion for border-wall construction, provides $4.1 billion for new Border Patrol hires and introduces a $1,000 fee for asylum applicants.
• The Joint Committee on Taxation projects the bill will cut federal revenue by $3.8 trillion over ten years, raising alarms over its impact on the national debt.