Tax cuts

House passage of the Senate budget resolution opens the door to wrangling next week.

House Republicans narrowly adopted a budget resolution Thursday unlocking a fast-track process to achieve their long-sought goal of cutting Americans’ taxes by the end of the year. The next step will be releasing a draft tax measure as early as Nov. 1.

Congress is trying to ram through a bill that would reshape the U.S. economy in just a few short weeks, but its leaders have kept the plan shrouded in secrecy and released not a word of legislative text.

House Speaker Paul Ryan’s efforts to kill a deduction as part of a Republican tax overhaul would hit very close to home—among his constituents with homes on glistening Geneva Lake in his southeastern Wisconsin district.

House Ways and Means Chairman Kevin Brady said Wednesday he expects to announce a deal with concerned Republicans from high-tax states on the state and local tax deduction “before the bill will be laid out next week.”

President Donald Trump encouraged GOP senators to push ahead with their tax-cut plans Tuesday, hours after feuding publicly with fellow Republican Bob Corker.

Treasury Secretary Steven Mnuchin got a swift rebuttal after he went on national television to claim a hypothetical Indiana family would save $1,000 under President Donald Trump’s tax plan.

The feud between President Donald Trump and Bob Corker flared up again Tuesday when the Republican senator said the president should stay out of the tax-overhaul effort, expressing concern that the White House has been making it harder for Congress to craft legislation.

President Donald Trump said there will not be changes to tax-deferred retirement savings plans under his proposed tax plan, shooting down reports that House Republicans were considering tweaking or capping one of the most popular breaks.

The GOP show of unity will allow reform to pass on a party-line vote.

Senate Republicans kicked off their tax debate Wednesday by killing two Democratic proposals that sought to draw a line against tax breaks for the wealthy.

Senate Finance Chairman Orrin Hatch emerged from a bipartisan meeting with President Donald Trump saying there’s a chance that a bipartisan tax bill could emerge from his committee.

President Donald Trump sought to rally support for his effort to overhaul the nation’s tax code on Tuesday at a conservative policy group that helped write the plan.

Treasury Secretary Steven Mnuchin said the stock market will probably see its gains wiped out if lawmakers fail to deliver planned tax cuts that will benefit corporate America.

Steve Bannon won’t abandon his war against congressional Republican incumbents, not even after President Donald Trump publicly pleaded for a truce that could salvage the tax overhaul at the heart of his legislative agenda.

Cutting the corporate tax rate to 20 percent, as President Donald Trump has proposed, would increase average household income by at least $4,000 a year, according to estimates in a White House study.

President Donald Trump and Senate Majority Leader Mitch McConnell appeared to give themselves some breathing room on their goal of completing a tax overhaul before year’s end in remarks that emphasized the difficulty of passing major legislation.

Senator Susan Collins says she’s leaning toward supporting a fiscal 2018 Senate budget resolution that’s key to the Republican effort to pass a major tax overhaul without the need for Democratic votes.

President Donald Trump will try to make the case that corporate tax breaks would benefit middle-class wage earners Wednesday evening—and an excerpt of his speech suggests he’ll use a measure of salesmanship.

Allies of President Donald Trump say they fear his feud with Republican Senator Bob Corker risks unraveling the White House tax overhaul effort and that another major legislative failure could hobble the administration for the rest of his term.