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.

Chefs, food equality advocates and nonprofit leaders rally against Trump's megabill that would slash SNAP funding for the nation's most vulnerable.

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