Erik Wasson

The Budget Lab at Yale projects that taxing income over $1 million at a 40% rate would generate $420 billion over a decade.

Congress will be drafting its multitrillion tax cut proposal in the coming weeks, almost certainly reflecting the priorities of a small minority of constituents.

Republicans in the White House, Senate and House are drafting analyses on how best to craft a new tax bracket for the wealthiest Americans.

How honest will Americans be about their income when there are suddenly fewer auditors to check them?

Rep. Jeff Van Drew thinks House Republicans will end up approving a $30,000 cap on the state and local tax deduction.

President Trump' and congressional leaders successfully corralled House Republican lawmakers to approve a Senate-passed budget outline.

Ultra-conservatives in the House are threatening to block a budget blueprint to kickstart tax cut negotiations, potentially delaying passage of Trump's economic plan.

The openness to a new 40% tax bracket for millionaires comes after decades of Republicans opposing any form of tax increase.

Senate Republicans took a major step toward enacting President Donald Trump's tax cut agenda and increasing the U.S. debt ceiling.

Groups are mobilizing to squelch a Republican plan to curtail a heavily used federal tax break that allows corporations to deduct state and local taxes.

The Senate plan will allow for a $4 trillion extension of Trump's tax cuts and an additional $1.5 trillion in further levy reductions.

Fiscal conservatives in the party want steep spending cuts to help offset the multitrillion-dollar tax-cut package.

Much depends on tax-collection proceeds, with the April 15 filing date fast approaching.

Republican leaders say they are closer to a plan to extend the 2017 tax cuts and increase the debt ceiling.

House and Senate Republicans are battling over the size of spending cuts to be paired with a giant tax cut coming later this year.

Congressional Republicans returning to Washington on Monday will tackle their toughest test yet, negotiating a massive tax bill package.

The meeting, scheduled for Thursday at the White House, will be the first sit-down between the Senate tax panel and Trump since he took office again.

GOP congressional leaders didn't negotiate with Democrats on the President Donald Trump-backed funding measure, which runs through Sept. 30.

The bill would claw back $20.2 billion in spending for the IRS passed as part of President Joe Biden's signature green-energy Inflation Reduction Act.

President Trump's proposals to expand breaks to end taxes on tips, overtime and Social Security, once considered wishful thinking, are gaining momentum despite the costs.