Here's a look at the main components of the bill and how the changes could affect tax cuts, Medicaid, food stamps, offshore oil, energy and more in Louisiana.

President Trump's signature tax and spending legislation, the "big beautiful bill," is now law, and that means cuts to Medicaid spending. The big picture: The law sets in motion almost $1 trillion in slashes to Medicaid and other health policy changes,

Now that the tax and spending bill has been signed into law, how it will impact the finances of Americans is more clear.