12 hours ago · Rep. Brendan Boyle, the top Democratic on the House Budget Committee, said that the tax cuts won’t pay for themselves through increased economic growth. “Instead, their plan blows up the deficit and sticks the middle class with the bill, whether through higher prices, deep cuts to essential programs, or both,” said the Philadelphia lawmaker.

15 hours ago · The budget proposal says that the House Ways and Means Committee can pursue up to $4.5 trillion in tax cuts, and sets a goal of cutting mandatory spending by $2 trillion. It would also increase ...

12 hours ago · House Republicans unveil blueprint to extend $4.5 trillion in tax cuts and lift the debt ceiling. House Republicans have set the stage for advancing many of President Donald Trump’s top domestic ...

Jan 24, 2025 · The Tax Cuts and Jobs Act of 2017 sunsets in 2025, and a new overhaul is expected. The Trump administration hopes to make key tax policy changes for both individuals and corporations, including ...

12 hours ago · The Energy and Commerce Committee, which handles health care spending, is asked to cut $880 billion over the decade, while the Education and Workforce committee is asked to reduce spending by $330 ...

Jan 10, 2025 · On Friday, the U.S. Treasury released a new analysis of the various ways that extending the expiring individual and estate tax provisions of Trump’s 2017 tax overhaul — known as the Tax Cuts and Jobs Act — could cost the government, and who would directly benefit the most from the legislation’s permanent extension.

11 hours ago · But the cuts the new budget document envisions would likely require savings well beyond what adding work requirements or eliminating fraud would generate. At the same time, the GOP budget document envisions a much higher budget deficit, becaus e the proposed spending reductions wouldn’t come close to offsetting the tax cuts.

13 hours ago · The budget would allow Congress’s tax-writing committees to increase the deficit by $4.5 trillion to accommodate tax cuts and calls for $2 trillion in cuts to mandatory spending such as Medicaid ...

3 days ago · House Republicans agreed during their White House meeting last week that they would permanently extend the 2017 tax cuts, which are estimated by Congress’ official accountants as costing $4.6 ...

Dec 20, 2024 · In addition to extending the Tax Cuts and Jobs Act, one of his signature achievements in his first term, President-elect Donald Trump has proposed a long list of tax cuts, from eliminating taxes on...