gop tax bill

The 51-48 vote came after 2 a.m. Thursday after Democrats sought to remove many of the proposed rescissions.

The “big beautiful bill” that Donald Trump signed into law rolls back tax credits for things like electric cars and home EV chargers, rooftop solar panels, heat pumps and more.

States will have to make tough choices about how to absorb or offset the reductions in Medicaid funding.

Despite being run by the states, roughly 70% of Medicaid funding comes from the federal government.

The Congressional Budget Office estimated that if the House bill were to pass as written, the deficit would increase by almost $3 trillion.

The House version of the legislation would add $2.4 trillion to the deficit over a decade.

Historically, bond investors more or less swallow the debt the U.S. government takes on, but this time they may be less inclined to do so.

They blame the 2017 tax bill.

Word of smaller refunds may have had a chilling effect on filing.

There’s been a lot of talk lately about the budget deficit, which, at last count, is up 17 percent over last year. That’s what happens when the government spends $779 billion more than it collects in revenue, also known as taxes. Seems we’re paying the price for one of the biggest tax cuts in history, […]