Tax cuts

Campaign pledges like no taxes on tips and overtime pay, plus new tax breaks for car buyers and seniors, are the centerpiece of a multitrillion-dollar package.

The House tax committee aims to make official several of President Trump's campaign tax pledges, and to avoid a millionaire tax.

House Republicans are struggling to resolve issues with President Trump's multitrillion-dollar tax package, including the SALT deduction.

The committee also proposes limiting states' ability to pay their share of Medicaid by placing a moratorium on new or increased taxes on medical providers.

Billions of dollars allocated under former President Biden's Inflation Reduction Act would be rescinded under a portion of Trump's sweeping tax package.

The proposal calls for increasing the maximum child tax credit to $2,500 and raising the estate tax exemption to $15 million.

The legislative push for the massive tax package will begin in earnest next week as key House committees consider the legislation despite lingering divisions.

The plan mandates the sale of dozens of parcels totaling more than 11,000 acres (4,450 hectares) of federal land in Utah and Nevada.

House Republicans plan to raise more than $15 billion in revenue through lease sales, as well as other measures, to help pay for the massive tax cut package.

The Treasury secretary touted some of President Trump's campaign proposals, including not taxing tips, Social Security or overtime.