On Thursday night, the Senate approved a 2018 budget resolution on a 51-49 vote, authorizing adding another $1.5 trillion to the federal deficit over a decade in order to cover President Trump's proposed tax cuts. The budget resolution contains a provision allowing Senate Republicans to pass a tax bill with no Democratic votes.
Trump's tax plan is still being developed, but Democrats are warning voters that all signs point to it benefiting the wealthiest Americans and corporations. An amendment was crafted by House and Senate Republicans so they don't have to spend weeks reconciling the Senate budget with the version the House has already passed. Both the House and Senate tax-writing committees are trying to release their draft legislation by early November.
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Is it worth appealing your property tax assessment?The Explainer What to do if your property tax bill seems too high
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Trump is trying to jump-start US manufacturing. Is it worth it?Today's Big Question The jobs are good. The workers may not be there.
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Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
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Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
