Trump tax plan

Republican leaders are pressing to begin voting on the tax bill in the Senate at the end of next week.

New estimates from the Congressional Budget Office incorporate the broader impact the legislation would have on the economy and federal budget.

The provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating taxable income.

Senate Republicans plan to modify the massive fiscal package to lower maximum deductions for state and local taxes and limit the impact of a "revenge" tax.

Businesses and rich universities scored wins in the Senate version of Trump's tax bill, while low-income Americans and clean energy providers were hit hard.

Private universities with at least 500 students that have endowments of $2 million per pupil or more would pay an excise tax of 8% under the new bill.

The prospect of prolonged talks with holdouts threatens Senate Majority Leader John Thune's goal of passing President Trump's tax-cut legislation by July 4.

Senate Republicans propose to cut trillions of dollars in taxes for households and businesses in their version of President Trump's signature economic package.

The bill, whose revised text was just released by the Senate, includes a number of significant tax provisions for both corporate taxpayers and nonprofits.

President Donald Trump and his allies are pursuing an alternative strategy to defend against mounting court orders blocking his policies: Raise the financial stakes for those suing the administration.