The Latest Breaking News from Tax Cuts

Speaker Mike Johnson faces a rebellion within GOP ranks over a budget blueprint that squeaked through the Senate. CQ Roll Call’s Caitlin Reilly, Paul M. Krawzak and David Lerman assess the outlook for final adoption of a budget resolution and the big fights over Medicaid cuts and whether to pay…

The Senate's budget blueprint has triggered a fight over wiping away the cost of tax-cut extensions in a bid to make them permanent.

The Senate kicked off a "vote-a-rama" Friday night on a revised budget blueprint that was expected to win adoption by early Saturday morning.

Critics are concerned that tax cuts may be implemented at the expense of key social services, such as healthcare and childcare support.

President Donald Trump followed through on his tariff threats by declaring on Wednesday a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the US.

Republicans are using the accounting method called the "current policy baseline" to show that extending Trump's tax cuts would cost nothing. Democrats strongly oppose this, calling it "magic math" because it hides the true cost, which could be in the trillions.

The compromise budget blueprint is designed to pave the way for a major package of tax cuts, border security and defense funding and more.

Ending taxes on tips was one of President Donald Trump's top campaign pledges, and he has reaffirmed it since returning to the White House.

Trump wants tariffs to pay for tax cuts, but investors have received few updates on the latter.