House Republicans cleared a major hurdle over the weekend in advancing a sweeping package of President Trump’s tax proposals, along with significant spending cuts and reforms for key federal programs.

The House-passed bill includes a large tax cut, as well as more money for defense and immigration enforcement, financed in part by slashing health, nutrition, education and clean energy programs.

Extending the 2017 tax cuts alone could save the typical household $2,900, but the legislation also affects overtime, tips and health care.

The bill proposes significant changes to student loan repayment options, Medicaid eligibility and the tax code.

Subsidies for clean power would end years earlier in a giant tax and spending bill narrowly passed by the Republican-led House of Representatives early Thursday, driving down shares of solar companies including Sunrun Inc.

Republican holdouts appear to have a deal with House GOP leadership to advance President Donald Trump's sweeping tax policy bill. The legislation will be tweaked to move up the implementation of Medicaid work requirements from 2029 to December of 2026;

At the center of the sweeping bill is trillions in tax cuts, which Republicans aim to partially offset through changes to safety net programs like Medicaid and SNAP.