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The Latest Breaking News from Tax Cuts

Why Republicans are angry about Trump’s ‘big, beautiful bill’

President’s signature legislation moves to Senate after narrowly passing House but could face a raft of further objections on everything from tax cuts to Medicaid

The Independent UK

Trump Official Banking on 'Growing Economy' to Offset Tax Cuts Sparks Backlash Online: 'My Grandchildren Are Screwed''

A senior Trump administration official sparked online backlash after being asked how the cost of tax cuts provided by the GOP spending bill would be counteracted, stating that the administration was depending on the future possibility of a growing economy.

Latin Times

‘We need grown up conversations’: Adam Kinzinger cuts through MAGA spin to clarify ‘Big Beautiful Bill’ offers no tax cuts whatsoever

The lone wolf howls again.

We Got This Covered

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Trump’s ‘big, beautiful’ spending bill, from tax cuts to mass deportations

All the key points laid out in the US president’s House-approved sweeping bill as it awaits Senate consideration

The Guardian - US

‘Debt bomb ticking’: Thomas Massie rebrands Trump’s ‘big beautiful bill’ in Senate speech

It's Trump vs. Massie, round 7,384.

We Got This Covered

‘Pro-worker priorities’? Trump’s budget bill offers the exact opposite

The ‘big, beautiful’ measure going through Congress would cut health, food and education benefits – and offer a huge boost to the richest

The Guardian - US

Asian Equities Track Wall St Sell-off As US Deficit Fears Grow

Asian equities sank and Treasuries remained under pressure following sharp losses on Wall Street fuelled by US economy fears as Donald Trump tries to push through fresh tax cuts that could balloon the already huge deficit.

International Business Times

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$12 billion added to congressional spending bill to reimburse states like Texas for border spending

The U.S. House approved the budget reconciliation bill, which also includes preservation of 2017 tax cuts and changes to Medicaid and SNAP.

The Texas Tribune

NZ Budget 2025: tax cuts and reduced revenues mean the government is banking on business growth

Not a lot is known about the government’s plans for taxes in the 2025 budget. Few tax policies have been announced so far, and what has been revealed involves targeted tax cuts for business interests.

The Conversation

Trump warns Republicans not to 'f— around' with Medicaid because he knows it's political suicide for MAGA

The GOP caucus is still divided on how deeply to cut public programs in order to achieve trillions in tax cuts.

Fortune

Trump Pushes Republicans To Back 'Big, Beautiful' Tax Bill

US President Donald Trump told rebel Republicans Tuesday to back his so-called "big, beautiful bill," despite criticism that its tax cuts will increase America's yawning budget deficit.

International Business Times

Millions Could Lose SNAP Food Benefits Under Trump Tax Cut Plan

The House Agriculture Committee approved nearly $300 billion in cuts to SNAP benefits, putting many at risk of hunger.

Kiplinger

Uncle Sam’s biggest creditor faces a fiscal crisis ‘worse than Greece’ as its borrowing costs hit 20-year high

Japan's prime minister warned members of parliament the country cannot afford any tax cuts funded through the issue of new debt as calls grow for stimulus ahead of July elections to the upper house.

Fortune

MarketBeat Week in Review – 05/12 - 05/16

Stocks had a strong week on a potential U.S.-China trade deal and cooler inflation data, but volatility may remain as investors shift focus to tax cuts

MarketBeat

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Al Jazeera

Trump’s ‘big, beautiful bill’ at a crucial juncture

The bill proposes sweeping changes, including Trump’s 2017 tax cuts and enacting deep cuts to social programmes.

The Guardian - US

House Republicans block Trump’s ‘big, beautiful bill’ in major setback

Rightwing lawmakers say president’s bill – centered on tax cuts and funding deportations – doesn’t make enough cuts

Fortune

Will bond vigilantes kill Trump tax cuts?

The bill arriving in Congress could add an estimated $3.8 trillion to the federal deficit through 2034.

The Conversation

Congress began losing power decades ago − and now it’s giving away what remains to Trump

Republicans in Congress have been making behind-the-scenes efforts to pass major domestic legislation via the federal budget process. They include potential cuts to Medicaid and extending the 2017 Trump tax cuts.

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Reason

Republican Reconciliation Package Will Lead to $3 Trillion Annual Deficits

A new analysis from the Committee for a Responsible Federal Budget estimates that the national debt will equal nearly 130 percent of GDP by 2034.

International Business Times

Republicans Eye Key Votes On Trump Tax Cuts Mega-bill

Republicans geared up Tuesday for a series of crucial votes on Donald Trump's domestic policy mega-bill, with rows over spending threatening to unravel the US president's plans for sweeping tax cuts.

Kiplinger

I'm a Financial Planner: Here Are Five Lesser-Known Ways to Avoid Estate Tax

The clock is ticking on the estate and gift tax provisions in the Tax Cuts and Jobs Act, so the sooner you act on removing assets from your estate, the better.

The Independent UK

Trump’s ‘big beautiful’ spending bill appears on life support as GOP looks to end some tax relief president created

Republicans might have to reduce the number of taxes cut by half a trillion, while GOP lawmakers from blue states rejected a proposal to offer tax relief

RideApart

A Public Lands Sell-Off Just Got Snuck Into a House Budget Proposal

Rather than any sort of real hard look at the federal budget, one done so that actual fraud, waste, and abuse is rooted out in order to balance the budget—DOGE absolutely doesn't count—the current makeup of the House, Senate, and Presidency wants to sell your public lands. I mean, how…

The Conversation

FDR united Democrats under the banner of ‘liberalism’ − but today’s Democratic Party has nothing to put on its hat

If Donald Trump has taught Americans anything, it’s that political parties can shift positions on any number of issues and retain strong support. Republicans had once been aggressive Cold Warriors, standing shoulder to shoulder with allies against Russia, but now they are isolationists. They once favored so-called “free markets,” but…

Texas Observer

The High Cost of Texas’ Property Tax Cut-and-Run Politics

Biennial promises of “relief” are just window dressing on a broken taxation system.

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