The bill, ushered through Congress by Republican leadership and signed by Trump Friday, includes $4.5 trillion in tax cuts, slashes spending on Medicaid, and creates temporary tax deductions for overtime and tipped income. It includes $170 billion for immigrant detention and for new personnel for Immigration and Customs Enforcement.

Now that the tax and spending bill has been signed into law, how it will impact the finances of Americans is more clear.

President Trump signed his so-called “One Big Beautiful Bill Act” last week — an omnibus tax and spending package that could significantly reshape the social safety net both nationally and in New York.