Steven T. Dennis

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.

The Club for Growth Foundation says its tax cut plan — and a corresponding push for deregulation — are aimed at bolstering U.S. manufacturing.

Among the items now stalled are a measure to extend federal banking protections to marijuana companies operating in states where the drug is legal and negotiations to restore tax breaks for business spending on research and development.

Biden's team agreed to trim $21 billion over a decade from IRS enforcement and $28 billion from prior COVID spending.

The senator fired the latest salvo in a long-running dispute with the White House over implementation of Inflation Reduction Act provisions he authored.