Households in the top 0.1% would reap more than $390,000 in tax savings, according to one analysis of the tax and spending bill that’s now headed to the Senate for a vote.

Republicans got a fiscal bill through the House on Thursday. It’s a complex piece of legislation that includes tax cuts, spending increases, spending reductions and some tax hikes. In total, it would increase budget deficits by nearly $3 trillion over a decade.

The House Democrats’ campaign arm argued that President Trump’s One Big Beautiful Bill Act, which passed through the House of Representatives on Thursday, will cost House Republicans the majority

Thursday morning's vote is already at the center of ads in swing districts, as Democrats and Republicans battle for control of the House in the midterm elections.

However, the IRS taxes that money. If tips are part of your pay, the IRS treats every dollar you receive, whether left on the table in cash or added to a credit card receipt, as regular income. But that could soon change. Here’s more of what you need to know, beginning with how tips are currently taxed.

Once the legislation clears the committee, lawmakers plan to vote on it as soon as this evening or tomorrow morning. They can lose only three Republican votes and still get it across the finish line. After that, the bill would be reviewed by the Senate before it can go to the president's desk.

Republican tax bill could cost $3.8 trillion over 10 years as its tax cuts surpass spending reductions, according to one analysis.