Taxes June 4, 2025
If President Donald Trump’s “big, beautiful bill” passes, taxes will be cut by roughly $3.75 trillion but it will add $2.4 trillion to the overall deficit over the next decade, according to a new report from the Congressional Budget Office.
Taxes June 4, 2025
Republican congressional leaders pushed back Wednesday on Elon Musk’s harsh criticism of President Trump’s signature budget bill as a fiscally dangerous “disgusting abomination.”
Taxes June 4, 2025
The House kept some tax credit incentives for new nuclear projects in its tax break and immigration megabill because the industry would die out without them, said U.S. Rep. Chuck Fleischmann (R-TN).
Taxes June 4, 2025
The Senate Finance Committee voted along party lines on June 3 to approve President Donald Trump’s nomination of former Missouri Rep. Billy Long to lead the IRS over the objections of Democrats.
Taxes June 3, 2025
It's not clear yet how extensive the changes to the House's nearly $4 trillion tax package will be, but lawmakers and interest groups see plenty of opportunities for tweaks to suit their needs.
Taxes June 3, 2025
Tech entrepreneur Elon Musk unleashed on President Donald Trump’s “big, beautiful bill” on June 3, marking the second time in a week that the former presidential advisor broke with the president.
Taxes June 3, 2025
A proposed repeal of the federal estate tax has advocates arguing about whether it would be a long-overdue fix for small business owners and farmers, or an unnecessary move widening the gap between the haves and have-nots even further.
Taxes May 30, 2025
The court ruling that blocked much of President Donald Trump’s sweeping tariffs threatens to blow what some economists estimate as a $2 trillion hole into the U.S. fiscal outlook over the coming decade.
Taxes May 28, 2025
A new federal program would offer up to $5 billion in tax credits a year to fuel private school attendance nationwide.
Taxes May 28, 2025
The U.S. residential solar market is awaiting to see if Republicans in the Senate will challenge their brethren in the House and change provisions of the massive tax-and-spending bill that executives and analysts say would devastate the industry.
Taxes May 28, 2025
In an interview with CBS News, Musk said he's disappointed because the tax-and-spending bill increases the deficit and "undermines the work that the DOGE team is doing."
Taxes May 27, 2025
A Republican-backed tax-and-spending bill passed by the U.S. House on May 22 aims to roll back federal clean energy incentives—a move critics warn could raise costs for those who purchase electric vehicles.