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The Latest Breaking News from Tax Cuts

The House GOP Budget Blueprint Promises More Borrowing, More Debt, and Not Enough Spending Cuts

"If the Republican budget passes, the deficit gets worse, not better," says Rep. Thomas Massie. He's right.

Reason

Texas House unveils plan to cut property taxes, setting up fight with Senate

Lawmakers will debate how to spend $3.5 billion in proposed tax cuts, a legislative priority for Republican leaders.

The Texas Tribune

New Iowa Income Tax Rate for 2025: What It Means for You

A new tax law lands Iowa among the top ten states with the lowest income tax rates.

Kiplinger

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Senate adopts budget framework for border, defense package - Roll Call

Senate Republicans finally pushed through their blueprint for the first phase of President Donald Trump's legislative agenda early Friday.

Roll Call

Senate plows through overnight budget 'vote-a-rama' - Roll Call

The Senate churned through amendments in a marathon voting session Thursday night into early Friday on a GOP-drafted budget resolution.

Roll Call

Senate Republicans Push Forward With 0 Billion Budget Bill

Senate Republicans are moving forward with a 0 billion budget bill for border security and deportations amidst challenges from Trump's preferences and D...

Top News

House GOP group wants to pump brakes on big spending cuts - Roll Call

A group of House Republicans raised alarms about the minimum $1.5 trillion in spending cuts required by the chamber’s budget resolution.

Roll Call

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Medicaid might pay for Trump's tax cuts

House Republicans want to pay for their tax cuts by cutting social services used by the working class

Salon

House Budget Committee Passes GOP Budget Blueprint

House Budget Committee passes budget aligning with Trump's agenda, focusing on tax cuts and program cuts.

Top News

GOP budget framework gets over initial hurdle in House - Roll Call

The House Budget Committee approved a fiscal framework that inches Republicans closer to their prized “big, beautiful” reconciliation bill.

Roll Call

Republican Lawmakers Push To Repeal Federal Inheritance Tax

Republican lawmakers push to repeal the federal inheritance tax, citing impact on family businesses. Efforts align with extending Trump's tax cuts. Bill ai...

Top News

House budget blueprint ready for close-up amid GOP 'angst' - Roll Call

Lawmakers made clear that the resolution will likely undergo rewrites at the Budget Committee as Republicans continue to seek consensus.

Roll Call

Speaker tries to wrangle his Republican ‘free-range chickens’ in effort to land tax cuts for Trump 2.0 budget

ANALYSIS: Mike Johnson insists his budget plans are on schedule but he still faces a political pressure test, writes John Bowden

The Independent UK

Texas Senate unanimously approves tax cuts for homeowners

The marquee proposal would increase the amount of a home’s value exemption from school taxes to $140,000 from $100,000. The legislation must win approval from the House next.

The Texas Tribune

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Top News

House Republicans Work On Finalizing Tax And Spending Cut Package

House Republicans finalize a tax and spending cut package with over House Republicans Work On Finalizing Tax And Spending Cut Package trillion in cuts, aiming to make Trump's tax cuts permanent and prevent tip taxation.

Reason

Washington's Debt Delusion: Economic Growth Cannot Fix the Deficit

Republicans are betting trillions on the hope that the economy will grow fast enough to cover their deficit spree.

Reason

This Trump Appointee Could Bring Fiscal Sanity to the White House

"Personnel is policy" has shaped past administrations. Kevin Hassett, who has been tapped to lead the National Economic Council, will have a hand in tax reform, debt reduction, and more.

Kiplinger

Key Family Tax Breaks Are on the GOP Chopping Block This Year

Several tax breaks, including the Child Tax Credit, could face stricter eligibility limits as lawmakers seek revenue for Trump’s tax plans.

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The Texas Tribune

Texas Republicans want more property tax cuts. Here’s how they may do it.

Gov. Greg Abbott said cutting taxes is a top priority, however, state lawmakers don’t have as much money to plug into tax cuts as they did two years ago.

Salon

GOP floats tax on worker benefits

Republicans are trying to find ways to pay for Trump's trillions of dollars in tax cuts

The Independent UK

Modi government slashes income tax for middle classes in India budget

Narendra Modi’s government has presented an annual budget that focuses on wooing the salaried middle class with tax cuts and spurring economic growth by boosting agriculture and manufacturing

The Guardian - US

Why Trump tariffs will be ‘very bad for America and for the world’

If enacted tariffs will increase inflation, slow economic growth, and result in US consumers footing the bill

Top News

GOP Struggles To Offset Cost Of Trump Tax Cuts

House Republicans are grappling with the cost and division over extending Trump's tax cuts, facing challenges in finding consensus.

Top News

Senate Confirms Scott Bessent As Treasury Secretary

Scott Bessent confirmed as Treasury Secretary, focusing on tax cuts, deficit reduction, and tariffs for economic growth. Historic milestone as first openly...

Top News

President Trump Pushes For Historic Tax Cuts Legislation

President Trump emphasizes collaboration with Congress for extensive tax cuts and reforms, focusing on extending the Tax Cuts and Jobs Act provisions.

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