Overview

• The Senate version imposes tougher work and eligibility requirements on Medicaid beneficiaries and caps provider taxes at 3.5 percent to deepen program savings
• It maintains the State and Local Tax deduction cap at $10,000, rolling back the House’s $40,000 deal and drawing objections from high-tax state Republicans
• Key elements of the 2017 tax cuts are made permanent, including corporate rates and full expensing of investments in equipment and research and development
• The child tax credit is set at $2,200 per child, below the House’s $2,500 level, while new deductions for up to $25,000 in tipped wages and $12,500 in overtime are capped by income thresholds
• Renewable energy tax credits face a slower phase-out than in the House bill, extending incentives for solar and wind projects before full expiration