House Republicans released an updated version of their massive bill on Wednesday in hopes of advancing much of President Trump's domestic agenda by the end of the week. The new legislation aims to satisfy competing demands from fiscal hawks looking to reduce the deficit to blue state Republicans looking to lock in more favorable taxes for their constituents.
The updated legislation came at the end of a day of near-constant negotiations within the GOP. The talks included a White House meeting on Wednesday afternoon between Trump, House Speaker Mike Johnson, R-La., and several holdouts and skeptics.
Johnson told reporters after the meeting that he was optimistic about passing the bill as early as Thursday.
"The plan is to move forward as expected," Johnson said. "I think that all of our colleagues here will really like this final product."
Johnson will need nearly unanimous support from his members for the bill to pass and it could face further challenges in the Senate. Democrats are expected to vote against the bill in unison.
The sweeping piece of legislation runs more than 1,000 pages long. Here's a brief look at what's inside the latest version.
Note: This is a partial list that will be updated.
Extending the Trump tax cuts
The Republican plan calls for roughly $3.8 trillion in tax cuts — the bulk of which would come by extending the 2017 Trump tax cuts. Those cuts are due to expire at the end of the year, so without an extension, most households would see their taxes go up.
No taxes on tips or overtime
The bill includes temporary changes designed to make good on several of Trump's campaign pledges, including no taxes on overtime earned between 2026 and 2028. The plan would also allow Americans to deduct interest on car loans — but only if the car is made in the U.S. It would increase the child tax credit to $2,500 until 2028 — but only for people with Social Security numbers. After that, it would drop to $2,000 and grow with inflation. It would allow for a higher standard deduction through 2028, and to deliver on Trump's pledge not to tax Social Security benefits, the bill would allow for an extra $4,000 deduction for people over the age of 65, but it phases out for people at higher incomes.
More SALT
One of the thorniest issues during negotiations has been the state and local tax deduction, also known as SALT. The deduction is hugely important to a small number of GOP lawmakers from blue states with high taxes, like California and New York. The 2017 tax cuts capped the SALT deduction at $10,000. The House plan would lift the cap to $40,000 for married couples with incomes up to $500,000.
Work requirements for Medicaid
The bill includes several proposed changes to Medicaid — the joint federal/state health care program for low-income, elderly and disabled Americans. It's remained one of the most divisive issues throughout GOP negotiations, but lawmakers argue that changes introduced by the bill will bring in hundreds of billions in necessary savings through the introduction of new work requirements. Beginning at the end of 2026, childless adults without disabilities would be required to work 80 hours per month to qualify for benefits.
The legislation also zeroes in on what Republicans characterize as "waste fraud and abuse" within the program by shifting the enrollment period from once a year to every six months and adding additional income and residency verifications for enrolled individuals.
Changes to SNAP
The Republican legislation also outlines reforms for the Supplemental Nutrition Assistance Program, known as SNAP, which benefits more than 40 million low-income Americans. The bill increases the amount states contribute to the program and mandates work requirements for able-bodied SNAP enrollees who don't have dependents. Independent estimates suggest these changes could result in many people losing coverage. Like with Medicaid talks, some Republican lawmakers have pushed back against massive changes to SNAP given its wide reach and the millions enrolled in the program.
Lift the debt ceiling
The House bill would raise the nation's debt limit by $4 trillion. Lifting the debt limit doesn't authorize new spending. Instead, it allows the government to pay for programs that Congress has already authorized. If the cap isn't lifted and the government can't meet its obligations, then it will be at risk of default – a scenario that economists say would be catastrophic not just for the U.S., but the global financial system as a whole. Treasury Secretary Scott Bessent has told Congress that without action, the U.S. will run out of money to pay its bills as soon as August, which means the clock is ticking.
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