CNN —
The House GOP narrowly passed its massive tax and spending cuts package ahead of its Memorial Day deadline, sending President Donald Trump ’s “one big, beautiful bill” over to the Senate, where it will likely face many changes.
The package includes several controversial measures that would deeply cut into two of the nation’s key safety net programs – Medicaid and food stamps – while making permanent essentially all of the trillions of dollars of individual income tax breaks contained in the GOP’s 2017 Tax Cuts and Jobs Act. What’s more, it would fulfill Trump’s campaign promises to cut taxes on tips and overtime, albeit temporarily.
The magnitude of the measures is evident in the estimates of the cost they would incur or the savings they would produce.
The tax changes i