The legislation keeps some House provisions, like new Medicaid rules, while making significant changes in other areas, including Medicare and the state and local tax deduction.

Republicans who control the U.S. Senate Finance Committee unveiled changes to President Donald Trump's sweeping tax-cut and spending bill on Monday that would make business-related tax breaks permanent while modifying Medicaid reforms and a new federal deduction for state and local taxes.

Senate Finance Committee Republicans published their text of President Trump's "one big, beautiful bill" Monday evening, which includes major tax reforms and even steeper Medicaid cuts than the House called for.