Steven T. Dennis

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.

Senate Majority Leader John Thune said Republicans in his chamber expect to deliver on President Donald Trump's campaign promises.

The deal that led the House to increase the maximum deduction for state and local taxes to $40,000 is not set in stone in the Senate.

Senate Republican Leader John Thune has been a vocal critic of the 40% estate tax paid by the wealthiest U.S. individuals when they die.

It would extend Trump's first-term tax cuts due to expire Dec. 31, along with new tax relief including raising the limit on deducting state and local taxes.

The vote in the House Budget Committee paves the way for passage of the legislation as soon as Thursday,

Wealthy Americans and business investors are among the big winners while targets of Trump's ire such as immigrants and elite universities were hammered.

Trump's remarks are likely to pour cold water on discussions about creating a new 40% tax bracket for people earning $1 million or more.

Republicans are aiming to approve a multitrillion tax bill in the coming months that renews Trump's 2017 cuts, along with a fresh round of levy reductions.

The cryptocurrency industry is on a roll in Washington and it's not just because of President Donald Trump.

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.

The Committee for a Responsible Federal Budget estimated much of the cost would come from extending the 2017 tax cuts for individuals and small business owners.

The mood in markets and the financial situation are starkly different from 2017, when Trump and congressional Republicans passed a deficit-expanding tax cut.

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.

The GOP defeated Banking Chairman Sherrod Brown in Ohio, fended off an unexpectedly tough challenge to Nebraska' Deb Fischer and picked up the open Senate seat in West Virginia.

The expiration next year of the 2017 tax law puts trillions of dollars in tax provisions in play.

The senator dismissed concerns from budget watchdogs that it could increase the deficit by $250 billion or even more over a decade.

The prospect of a fresh round of tax cuts next year is helping Donald Trump woo Wall Street donors but threatens to add trillions of dollars to the national debt.