The Senate Committee on Finance argues that its proposal of changes to the bill "prevents the largest tax hike in history."

The House-passed version of Republicans’ tax and spending bill would add $2.8 trillion to US deficits over the next decade, according to new estimates from the Congressional Budget Office that incorporate the broader impact the legislation would have on the economy and federal budget.

Senate Republicans have released their version of the tax legislation. It included some significant changes from the House version of the tax bill.