Today, House Republicans pushed the largest parts of the Trump legislative agenda a major step closer to the House floor.

It includes trillions in tax cuts along with changes to Medicaid that would affect millions of people.

Congressional correspondent Lisa Desjardin is with us.

And Lisa, I know you've been tracking this for days.

So let's start with the taxes, the tax cuts.

What does this big, beautiful bill do?

Well, first of all, this is a first draft. It's important to know that, but it's a very important

first draft because it sets the direction for this. We will be talking about it for weeks to come.

But I want to look at this tax portion, which may be the largest in U.S. history, if it's passed as it is, and talk about who's affected in terms of the groups

in it by tax cuts.

So first of all, let's talk about the biggest groups that are affected.

Most Americans, this bill would extend the 2017 tax cuts permanently, meaning current rates

would stay the same.

They would not go up.

In addition, there would be a temporary new, larger, larger deduction

that would be in place for four years. Now, families, they also would benefit. The child tax cut

will go up. Again, that is just for four years. And there will be a new $1,000 credit,

something we haven't seen before, for babies born in the next four years that parents could

invest. For workers,

Trump's pledges, no new taxes on tips and no taxes on overtime pay, that is in this bill

right now, but again, only for four years. What about his pledge on Social Security? That's not in

here. He is not, they are not blocking taxes on Social Security. Instead, there's a new deduction for seniors up to $4,000.

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