Bloomberg News

President Trump's signature tax and spending bill is expected by most economists — and the Congressional Budget Office — to worsen U.S. deficits over the coming decade.

Treasury Secretary Bessent will serve as acting commissioner, as President Trump plans to nominate Long for an ambassadorship.

The move will enlarge refunds paid out to taxpayers early next year, ahead of the midterm congressional elections in November 2026.

Republicans are betting bigger tax refunds ahead of midterm elections paid for by cuts in social programs afterward will overcome early public disapproval.

While many companies have not stated what they might do, last month's tax legislation is helping ease some concerns while they grapple with tariff uncertainty.

Trump urged Keir Starmer to extract more oil from the North Sea and criticized U.K. taxes on fossil fuels in his latest attack on the prime minister's policies.

President Donald Trump said he is considering sending rebate checks to Americans using revenue from tariff increases his administration is imposing on U.S. trading partners.

The errors were tied to accounting for engineering scrap and engineering support labor.

House Speaker Mike Johnson is betting the upfront rewards from President Donald Trump's tax law will carry his party in the 2026 midterm elections.

House Republicans are aiming to pass provisions that were removed from President Donald Trump's "one big, beautiful bill."

It faces a potential $4.6 billion in additional taxes owed after an accounting change, although it is contesting the matter with the Internal Revenue Service.

President Donald Trump said he is considering a proposal to end capital gains taxes on home sales in a bid to boost the housing market.

President Donald Trump's recently enacted tax and spending law will add $3.4 trillion to U.S. deficits over a decade and leave millions without health care coverage, according to a new estimate from the nonpartisan Congressional Budget Office.

Eliminating federal incentives threatens to upend the U.S. energy industry by hampering the rollout of wind and solar.

Selling the OBBBA to the American people may prove to be tougher than passing it, even for a president who built a career on savvy branding.

The Queens assemblyman brushed off concerns about higher taxes by saying wealthy New Yorkers would stay put regardless.

The president's signature tax law allows a long-standing business deduction for the cost of food provided to employees to expire.

The sweeping $3.4 trillion fiscal package is already creating opportunities for segments of the energy and climate industries that had fallen out of favor.

A set of provisions tucked into the law has real estate developers and affordable housing proponents cheering — though some view it as a bittersweet victory.

Executives at America's largest corporations watched Donald Trump sign a massive tax-cut bill without any change in their own companies' tax rates.