Tax breaks

House Speaker Paul Ryan has spent much of his political career warning against the pitfalls of deficit spending and government debt.

Lawmakers who sped a bill through the U.S. House last week may have handed a few more goodies to Wall Street’s wealthiest than they realize.

As the Republican-controlled Congress tries to push through tax reform this year, one group of Americans may question why it’s coming up a scoop short.

Senate Republicans say their tax bill will bring big tax cuts for middle-class families and businesses. If you own a private jet, you’ll also get a break.

House Speaker Paul Ryan said temporary provisions in the GOP tax bill won’t really go away in a few years—he predicted that future Congresses will preserve them, and he didn’t mention the impact that would have on the federal deficit.

Startups and venture capitalists rarely get worked up over laws before they pass, but the tax plan currently winding its way through Congress is causing an uproar in Silicon Valley.

Senate Majority Leader Mitch McConnell is about to face a legacy-defining test of whether he can keep his unruly caucus in line to deliver President Donald Trump’s coveted goal of “massive tax cuts” in 2017.

The Senate tax proposal released Thursday would restrict employees earning at least $500,000 from making so-called “catch-up” contributions to 401(k) workplace retirement plans.

The Senate version of the Republican tax bill would tax wealthy private college endowments at 1.4 percent of net investment income, the same levy as the House proposal introduced last week.

Republican tax writers in the House and Senate scoured the U.S. tax code Thursday and shook the couch cushions for loose change, as one member put it, in an all-day struggle to find ways to pay for the deep tax cuts their leaders and President Donald Trump have promised.