House Republicans are proposing to gut energy savings and clean energy tax credits in President Donald Trump’s “big, beautiful” tax bill — money that is creating thousands of jobs in GOP states.

The House votes in favor of "big beautiful bill." If bill passes Senate, some will see tax cuts and millions could lose Medicaid coverage.

The prohibition abruptly expanded to include adults hours before the House passed the bill, escalating the crackdown on transgender care once focused on children.

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out over $500,000.

Under the bill, employees would be eligible for an annual income tax deduction of $25,000 for some types of cash tips.

President Donald Trump's sweeping tax and policy bill that would change Americans' everyday lives has cleared one big hurdle after several marathon days of negotiations in the U.S. House and an assist from the president himself.

The Dow closed lower by 817 points, or 1.91%. The broader S&P 500 slid 1.61% and the tech-heavy Nasdaq Composite fell 1.41%. The three major indexes each posted their worst day in one month.

Chances of a close brush with a US payment default are growing as the Senate plans for time-consuming revisions to President Donald Trump’s sprawling, multi-trillion-dollar tax and spending package.