Here's a look at the main components of the bill and how the changes could affect tax cuts, Medicaid, food stamps, offshore oil, energy and more in Louisiana.

The One Big Beautiful Bill Act extends Trump's expiring tax cuts and adds new deductions for middle-class Americans, including relief for tipped workers, overtime pay and retirees.

For a worker making $40,000 or less, standard deductions often already wipe out federal tax obligations. But for someone in the $50,000 to $100,000 range, shielding $12,500 in overtime or $25,000 in tips could move them into a lower tax bracket.