The bill continues tax cuts from President Trump's first stint in the White House, funds his border wall plan, and increases defense spending. The associated fiscal impact of this is offset by reducing federal support for key components of the social safety net, including food assistance and health coverage programs.

Taxpayers earning $1 million or more are expected to see a boost in after-tax income of about 3% under President Donald Trump's "big beautiful bill." The existing $10,000 cap on SALT deductions will rise to $40,

Trump is trying to push his 'big beautiful' tax and spending bill through Congress. After the Senate passed its version, here's where it stands