Tax cuts

A new study predicts the One Big Beautiful Bill Act will reduce federal taxes on average for individual taxpayers in every state, but the impact will differ.

The move will enlarge refunds paid out to taxpayers early next year, ahead of the midterm congressional elections in November 2026.

Republicans are betting bigger tax refunds ahead of midterm elections paid for by cuts in social programs afterward will overcome early public disapproval.

President Donald Trump's recently enacted tax and spending law will add $3.4 trillion to U.S. deficits over a decade and leave millions without health care coverage, according to a new estimate from the nonpartisan Congressional Budget Office.

Selling the OBBBA to the American people may prove to be tougher than passing it, even for a president who built a career on savvy branding.

Business investors and wealthy Americans are among the biggest winners. Those hit the hardest include elite universities, who face new levies, and immigrants.

President Trump signed his $3.4 trillion budget bill into law, enshrining an extension of tax cuts, temporary new breaks for tipped workers and funds for an immigration crackdown.

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.

President Donald Trump's multitrillion-dollar tax and spending package moved closer to reality after it passed the Senate.