About 60 percent of the benefits of expanding the SALT cap would go to taxpayers making more than $500,000 per year.

The developing House reconciliation bill is shaping up to add roughly $3.3 trillion to the debt through Fiscal Year (FY) 2034 and is setting the stage for more than $5.2 tr ...

The House Ways & Means Committee is set to mark up its title of the Fiscal Year (FY) 2025 reconciliation bill on Tuesday. The Joint Committee on Taxation (JCT) estimated that the ...

The House Energy & Commerce (E&C) Committee recently released its proposed reconciliation legislation, which is expected to save over $900 billion through 2034 to help finance the broader ...

Taken together, the two bills are likely to add trillions of dollars to the debt and set the stage for hundreds of billions or trillions more if expiring provisions are extended.

At the same time, the draft would temporarily boost the standard deduction by an additional $1,000 to $2,000 for four years and boost the Child Tax Credit by an additional $500 (from $2,000 to $2,500) ...

The bill was designed with long-time recommendations from the Medicare Payment Advisory Committee (MedPAC) in mind. Specifically, this bill directs the Secretary of Health and Human Services to ...

The federal budget deficit totaled $2.0 trillion over the past 12 months based on estimates from the Congressional Budget Office (CBO). Due to increased tax collections – which is typical for the ...