Billy House
ReporterBilly House is a reporter with Bloomberg.
Billy House is a reporter with Bloomberg.
Republicans broadly agree that there's little room for error on what is a rare opportunity for the GOP to update the Tax Code without having to make any concessions to Democrats.
Republicans represent congressional districts with 19 of 25 major automaker battery and EV assembly plants in operation or under construction.
The expiration next year of the 2017 tax law puts trillions of dollars in tax provisions in play.
The House Freedom Caucus suggested Congress pay for emergency aid to Israel by repealing the IRS expansion, among other possibilities.
The measure now heads to the Senate where lackluster Republican support threatens to sink it.
Speaker Mike Johnson will allow a vote on a $78 billion business and child tax break bill, siding with corporations over a group of Republicans who objected to the package negotiated with Senate Democrats.
A growing divide is emerging between Republicans and the business interests the GOP once unflinchingly championed.
The dollar figures in the report come from two years of records obtained by Democrats after a protracted court battle with Trump's former accounting firm.
The latest indictment against the president's son accuses him of avoiding taxes while living lavishly, including withdrawing $1.66 million in cash over a four-year period.
A series of tentative compromises were worked out on spending caps, the defense budget and IRS funding.