Different provisions of the GOP tax and spending bill will kick in over the next year or so. Many are set to expire just before Trump's term ends.

The bill would provide some $350 billion for Trump’s border and national security agenda, including $46 billion for the U.S.-Mexico border wall and $45 billion for 100,000 migrant detention facility beds, as he aims to fulfill his promise of the largest mass deportation operation in U.S. history.

The massive U.S. tax and spending bill slated for a final vote in Congress runs counter to the International Monetary Fund's recommendations that Washington reduce fiscal deficits over the medium term,