All told, the final bill includes trillions in tax cuts, most of which but not all are offset by revenue-raising measures. With that, here's a quick rundown of 16 key provisions in the final bill. Caps state and local tax deduction: The final bill will preserve the state and local tax deduction for anyone who itemizes, but it will cap the amount that may be deducted at $10,000. Related: Republicans release final tax bill ahead of key vote8. Exempts almost everybody from the estate tax: Unlike the House GOP bill, the final bill does not call for a repeal of the estate tax.

Source: CNN December 16, 2017 02:03 UTC