Some Democratic leaders and officials believe the combination of tax cuts and potential changes to some Americans' health care coverage could allow the party to recapture the anger and anti-Trump backlash that helped the party reclaim the House in 2018, after Republicans passed their tax package and repeatedly failed to repeal Obamacare.

The Senate version of the legislation makes even steeper cuts to Medicaid than the $800 billion slashed in the House-passed version of the bill.

The bill proposes a new $6,000 per-person tax deduction for seniors. The maximum deduction starts phasing down once income surpasses $75,000 per person, or $150,000 for joint filers. Then it phases out completely once income crosses $175,000 per person or $250,000 per couple.