The biggest open question is how to address the SALT deduction. The bill calls for increasing the $10,000 cap on SALT to $30,000, with a phaseout for most filers making more than $400,000 ...

After nearly seven hours of a stalemate on the floor, House Republicans plan to move forward with the rule vote shortly to advance Trump’s megabill. Full attendance is expected in the House.

Speaker of the House Mike Johnson, R-La., and Senate Majority Leader John Thune, R-S.D., hold a news ... More conference on the budget resolution in the U.S. Capitol on Thursday, April 10, 2025.

The current version of the proposal calls for the state and local tax deduction cap to be hiked to $30,000, which a group of blue-state Republicans have said is a nonstarter.

The tax plan that cleared Ways and Means early Wednesday would cut rates to the tune of $3.6 billion for the bottom 20% of American income earners, $24.4 billion to the quintile above that, $49.6 ...

This latest proposal easily passed the House Ways and Means Committee by a 17-6 vote April 30 as lawmakers race to get their agenda finished ahead of the May 8 end of the 2025 session. The income ...

The House Ways and Means Committee approved a bill that includes trillions in new tax cuts for corporations, households, and small businesses on a party-line vote. The bill would permanently ...