CBO

The eye-popping $38 billion tax bill that Apple Inc. said it plans to pay on its mammoth pile of accumulated foreign earnings will probably hit federal coffers in an eight-year trickle, not a one-time torrent.

Republican lawmakers will overturn a key piece of the Affordable Care Act in their tax overhaul, a victory in a long GOP campaign against the health law.

President Donald Trump is pitching the Republican tax-cut plan as aimed primarily at helping middle-class Americans, but the biggest beneficiaries of cuts in the individual tax rates are in the wealthiest income brackets.

Republican lawmakers are scrambling to lock up the votes needed to finalize a tax bill that can make it to President Donald Trump’s desk by the end of the year, without the benefit of an important estimate of its possible economic benefits.

President Donald Trump will try to make the case that corporate tax breaks would benefit middle-class wage earners Wednesday evening—and an excerpt of his speech suggests he’ll use a measure of salesmanship.

Senate Republican leaders and President Donald Trump appear determined to begin a floor debate Tuesday on repealing Obamacare in a highly unorthodox way—without lawmakers knowing what they’ll be voting on or where it might end up.

The party has lurched in recent days between giving up on repealing Obamacare and restarting talks over a new Trump administration proposal.

The Senate bill reduces the deficit by $420 billion, the CBO said, compared with the $321 billion in deficit reduction in an earlier version, giving Republican leaders additional money they can use to court holdout votes. Much of the increased funding comes from a decision to no longer cut taxes on the wealthy.

The latest draft would leave intact Obamacare tax increases on the wealthy.

The latest iteration of the Republican effort to repeal and replace the Affordable Care Act includes provisions designed to win over both conservative and centrist GOP members of the Senate.

Senate Republican leaders dropped provisions that would repeal two taxes on high earners in a revised draft of their health-care bill sent to the Congressional Budget Office, according to GOP senators.

The Obamacare replacement plan put forward by Senate Republicans would increase the number of uninsured Americans by 22 million while slashing funding for Medicaid, according to an estimate by the Congressional Budget Office.

Senate leaders released a slightly revised version of their health-care bill Monday as Senate Majority Leader Mitch McConnell tries to win over enough holdouts to pass the measure, with at least six Republicans signaling opposition.

The long-awaited Obamacare replacement plan from Senate Republicans wouldn’t do much to preserve coverage for millions of poor and working-class people, but it would deliver tax cuts to the wealthiest Americans.

U.S. tax revenue is running as much as $70 billion behind estimates more than halfway through the fiscal year, leaving the government with less cash than planned and adding to pressure on Congress to raise the debt ceiling.

Passage of the House’s health-care bill gives the Obamacare repeal effort new life after months of wrangling, but key Republican senators are already pushing it aside to write their own bill with no clear timetable to act.

The nonpartisan Congressional Budget Office released its highly anticipated scoring of the American Health Care Act this week, and many commentators have observed that several of the CBO's findings will make the legislation a tougher sell for Republicans.

About 24 million more people would be uninsured under the Republican plan to replace Obamacare, according to the nonpartisan Congressional Budget Office, creating a daunting political impediment for a proposal that would reduce the deficit by more than $300 billion.

Republicans are looking at limiting a tax exclusion used by employers that’s worth hundreds of billions of dollars a year, as a way to pay for changes to the health care system.