Tax cuts

The incoming Treasury chief will have to reconcile his deficit-reduction plans with the Trump administration's much-anticipated tax cuts.

Senate Republicans would like to do a large bill on immigration and energy first and then tackle tax reform in a second bill. House Republicans prefer one large bill.

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

Treasury Secretary nominee Scott Bessent warned of an economic crisis that will hammer middle- and working-class people if the 2017 tax cuts aren't extended.

The outgoing Treasury Secretary warned that plans by the incoming administration could worsen an already challenging fiscal outlook.

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.

About 20 GOP House members from New York, New Jersey and California were invited to Mar-a-Lago ahead of a looming fight over the 2017 tax cuts.

Johnson said the massive bill would address issues such as border security, including money for the mass deportations of undocumented immigrants; and an extension of the 2017 Trump tax cuts.

The president-elect has announced members of his senior leadership team at the Treasury, who'll work alongside Scott Bessent, his pick for secretary.

The president-elect vowed to lower the corporate rate to 15% from 21% and is talking with his advisors about cutting levies on capital gains and dividends.