Steven T. Dennis
ReporterSteven T. Dennis is a reporter with Bloomberg News.
Steven T. Dennis is a reporter with Bloomberg News.
President Donald Trump secured a sweeping shift in U.S. domestic policy as the House passed a $3.4 trillion fiscal package that cuts taxes, curtails spending on safety-net programs and reverses much of Joe Biden's efforts to move the country toward a clean-energy economy.
The bill includes tax cuts Republicans campaigned on, a phase-out of Biden-era clean energy incentives and funding for the president's crackdown on illegal immigration.
The $3.3 trillion tax and spending cut bill passed the Senate after a furious push by Republican leaders to persuade holdouts to back the legislation.
In a 99-1 vote, the Senate killed a controversial effort to prevent U.S. states from regulating artificial intelligence.
The Senate worked through the night on the $3.3 trillion tax and spending package, with Republican leaders still negotiating with key GOP holdouts into the morning.
The $4.5 trillion tax cut bill prevailed in a crucial Senate test vote after hours of negotiations between Vice President JD Vance, GOP leaders and Republican holdouts.
Effort to eliminate regulations on short-barreled rifles, short-barreled shotguns and silencers hit a roadblock with the Senate parliamentarian.
Senate Republicans are coming around to the $40,000 cap on state and local tax deduction key House lawmakers demand in President Trump's massive tax package.
Republican leaders are pressing to begin voting on the tax bill in the Senate at the end of next week.
The Texas senator pitched Republican senators on ending the Federal Reserve's authority to pay interest to banks, claiming it would save $1.1 trillion over a decade.