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.

The House is expected to take up Senate Republicans’ version of the reconciliation package on Thursday, following debate time. If it passes without changes it would make President Trump’s tax cuts permanent,

The Senate is plowing ahead toward a final vote on President Trump's sweeping tax and immigration bill, as Republicans rush to get it across the finish line by July 4.