The GOP’s tax bill will likely have an impact on how the U.S. election goes down the road.

It could also change how we pay for the health care law, which President Donald Trump wants repealed.

| Getty Ways and Means Chairman Kevin Brady, R-Texas, speaks during a news conference to announce the first round of changes to the GOP tax bill at the Capitol in Washington, Tuesday, Oct. 3, 2019.

| AP Photo Ways and Mean Chairman Kevin.

Brady, of Texas, speaks at a news event to announce that the first phase of a $1 trillion health care tax overhaul is set to be released.

| Evan Vucci/AP The first phase will cut taxes for most people.

The tax bill includes a new $10,000 limit on itemized deductions, the largest change to the tax code since 1986.

But the new limit doesn’t apply to income above $450,000.

That limit is set at $300,000 for married couples filing jointly.

That means anyone who earns $200,000 or more will see a big tax cut.

For everyone else, it’s $150,000 in 2018.

The new limit is designed to help low- and middle-income families make ends meet.

That helps lower-income people and lower-earning families, who have been hit particularly hard by the recession.

But it also makes it harder for middle-class families to pay for college.

That can also hurt them as college costs rise and their children struggle to get a good job.

The new limits are scheduled to expire in 2023.

The GOP plan includes a $4,000 child tax credit for families making less than $200 a month.

The credit would increase to $4.99 for a child with two parents, or $5.99 if two parents work.

The amount would grow to $6.99 and $7.99, respectively.

The $1,800 child tax subsidy will expire at the end of 2021, but families will get another $2,000 over the next decade.

That’s because the tax credits will be extended for three years.

The tax credits were designed to encourage families to save for college and save for retirement.

The child tax credits, which help families pay for tuition, are set to expire at $1 million a year for married taxpayers and $2 million for married joint filers.

The plan also includes a deduction for medical expenses.

For the first time, a person who earns less than the federal poverty level will get a credit for their medical expenses of $2.50 per $1 of income.

That is $5,000 less than it would have been under the previous plan.

The Senate has approved the plan, but House Speaker Paul Ryan, R.-Wis., says the House will need to approve it by the end.

The House passed its version of the tax bill earlier this month, but the Senate did not take action on the measure until late Tuesday night.

House Republicans will need 60 votes to pass a bill that will be signed into law by Trump.

It is expected to pass with bipartisan support, though Republicans have not indicated whether they will support the legislation.

President Donald Trump speaks to reporters as he arrives for the White House Press Briefing, Tuesday.

| Drew Angerer/GettyThe House will have to take action again in January, as Trump has threatened to veto the bill.

If the Senate does not act, the Senate would need to take up the bill in a new session.

The Senate has been divided over the legislation, and it’s unclear if the two chambers will get on board.

The Republican-led Senate has passed its own version of a tax bill, and Democrats have also supported the measure.

Democrats, however, have complained that the Senate bill includes too many loopholes and doesn’t take into account the $1 Trillion tax relief package Republicans passed in December.