The impact of the massive spending bill that President Donald Trump signed into law on Independence Day is expected to filter down to infants and toddlers — a segment of the population that is particularly vulnerable to cuts to the federal social safety net.

Congress passed President Donald Trump’s “big, beautiful bill” last week. The bill extends tax cuts and introduces new measures like a senior “bonus” and increased state and local tax deductions. Financial advisor Kathryn McCall says the impact will depend on household income levels.

U.S. President Donald Trump signed into law a massive package of tax and spending cuts in a ceremony at the White House on Friday, one day after the Republican-controlled House of Representatives narrowly approved the signature legislation of Trump's second term.