Tax Strategies

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

The $3.3 trillion tax and spending cut bill passed the Senate after a furious push by Republican leaders to persuade holdouts to back the legislation.

The Senate narrowly approved President Trump's tax bill after Vice President JD Vance cast a tie-breaking vote following no votes from three Republican senators.

Senate Republicans appear to be making progress in resolving differences with House Republicans in the state and local tax deduction and other matters.

Effort to eliminate regulations on short-barreled rifles, short-barreled shotguns and silencers hit a roadblock with the Senate parliamentarian.

Senate Parliamentarian Elizabeth MacDonough ruled ineligible provisions that would have limited states' ability to tax health care providers to fund Medicaid.

President Trump expressed optimism that lawmakers could reach a compromise on the state and local tax deduction, a sticking point in his "One Big Beautiful Bill."

The Trump administration is privately considering unleashing what advocates and critics agree would be one of its biggest cudgels yet to pressure colleges.

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.