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.

CBS News New York's Cindy Hsu and Mary Clavi speak with Liz Pancotti, the Managing Director of Policy and Advocacy at Groundwork Collaborative to discuss what this bill could mean for Americans.

"Right now we're very much seeing the U.S. go through, in some ways, a bipolar approach to how it's dealing with these global crises."