House Republicans in Congress approved President Donald Trump's multitrillion-dollar tax breaks and spending cuts bill in a narrow vote Thursday, overcoming setbacks to pass Trump's signature second-term policy package before a Fourth of July deadline.

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

The legislation includes significant cuts to Medicaid, a move families fear will directly impact the services their children rely on every day.