Factbox-Major aspects of Trump's tax and spending megabill

By Andy Sullivan

WASHINGTON (Reuters) -The Republican-controlled Congress could soon give final approval to a sweeping tax and spending bill that incorporates many of President Donald Trump's top domestic priorities.

Here is a summary of the major elements of the legislation, which Trump hopes to sign into law by the July 4 Independence Day holiday:

TAXES

* Makes permanent the lower individual and business taxrates in Trump's 2017 tax cut package that are due to expire atthe end of the year * Creates new tax breaks until 2029 for tipped income,overtime pay, people over 65 and interest on domestic auto loans * Expands a tax break for state and local tax (SALT)payments from $10,000 to $40,000 until 2029 * Expands and makes permanent business tax breaks forequipment purchases, research and development costs and interestexpenses * Total tax revenue would be $4.5 trillion less over 10years, according to the Congressional Budget Office

HEALTHCARE

* Establishes a work requirement for adult participants inthe Medicaid health plan for the poor * Excludes many non-citizens from Medicaid * Prohibits Medicaid funding for transgender transitionservices and organizations like Planned Parenthood that provideabortion services * Restricts "provider taxes" that some states use to boostfederal Medicaid payments * Includes $50 billion for rural hospitals to offset theimpact of the provider-tax clampdown * Changes would leave nearly 12 million more people withoutinsurance coverage, according to the CBO

ENERGY AND ENVIRONMENT

* Eliminates incentives for electric vehicles, residentialsolar and battery systems, heat pumps, energy-efficientappliances and home efficiency upgrades * Expands oil and gas drilling in the Gulf of Mexico, Alaskaand other federal lands * Ends incentives for clean electricity and green energyproduction * Cuts funding for environmental enforcement

IMMIGRATION

* Funds border wall construction * Increases staffing for immigration enforcement, bordercontrol, immigration courts * Increases detention capacity for immigration enforcement * Imposes fees of up to $5,000 for immigrant work permits,court hearings and other matters * Imposes a 1% tax on funds sent by immigrants to their homecountries

STUDENT AID

* Tightens student loan repayment programs * Scales back some student loan programs * Limits the government's ability to cancel student debt

FOOD ASSISTANCE

* Increases work requirements for some of the 41 millionparticipants in the SNAP food aid program * Shifts some costs from federal government to states * Bars some non-citizens from benefits * Reduces costs by $186 billion

DEBT

* The bill would increase the $36.2 trillion U.S. governmentdebt by $3.4 trillion, according to the CBO * Includes a debt-ceiling increase of $5 trillion

OTHER PROVISIONS

* Eliminates taxes on firearms silencers * Gives the government the power to strip tax-exempt statusfrom "terrorist supporting" organizations * Does not prohibit states from regulating artificialintelligence, as an earlier version of the bill did * Allows courts to require plaintiffs to post a bond whenthey sue to block government policies * Expands tax break for Native American whale hunters

(Reporting by Andy SullivanEditing by Frances Kerry)

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