Congressional Republicans are moving quickly to pass a mammoth tax and spending cuts package that could have a direct impact on millions of Americans, and drastic consequences for the economy.

The 1,000-plus page bill recently passed by the House would extend tax cuts set to expire as part of President Trump’s signature 2017 tax law, provisions aimed at nixing taxes on tips and overtime pay.

It also includes a host of reforms to programs like Medicaid and food stamps that early estimates project could reduce spending in those areas by hundreds of billions of dollars in the next decade.

As Senate Republicans look to make their own changes to the package, here’s five pieces of the House bill that could make waves across American life.

Tax cuts across the board

The centerpiece of the House measure is an extension and expansion of Trump’s 2017 tax cut law.

The most significant part of the tax provisions may actually be the least noticeable: the cementing of current personal income tax rates. Rather than providing a big tax cut, the bill instead prevents a major increase in taxes that would have occurred next year.

But the House bill also includes several new tax cuts that could boost take-home pay for Americans across a wide range of income levels and demographics.

On the lower end of the income spectrum, the bill would increase the child tax credit, eliminate taxes on most tips and overtime pay, and provide a credit to cover the cost of taxes on Social Security benefits.

The bill also includes a significantly higher cap on the state and local tax (SALT) deduction, which primarily benefits residents of high-income, high-tax cities and their suburbs.

Medicaid cuts could impact millions

Much of the savings in the........

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