Trump Tax Bill

Earners in the middle of the distribution will see their annual resources grow by about $800 to $1,200 on average, according to the analysis

The legislative milestone reinforces Trump's grip on the Republican Party, whose Capitol Hill leaders muscled the bill through the House and Senate this week

Lower taxes, tighter immigration rules, healthcare cuts, and a clean energy rollback define Trump's 'Big Beautiful Bill', now headed to the House for final approval

Trump said he was not considering extending the July 9 deadline for countries to negotiate trade deals with the United States

Republican leaders in the House are sprinting toward a Wednesday vote on President Donald Trump's tax and spending cuts package, determined to seize momentum from a hard-fought vote in the Senate while essentially daring members to defy their party's leader and vote against it. The American people gave us a clear mandate, and after four years of Democrat failure, we intend to deliver without delay, the top four House GOP leaders said Tuesday after the bill passed the Senate 51-50, thanks to Vice President JD Vance's tiebreaking vote. It's a risky gambit, one designed to meet Trump's demand for a July 4 finish and there's a steep climb ahead. Since launching early this year, Republicans have struggled mightily with the bill nearly everystepoftheway, often succeeding by only a single vote. Their House majority stands at only 220-212, leaving little room for defections. Some Republicans are likely to balk at being asked to rubber stamp the Senate bill less than 24 hours after passage,

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Indian Rupee today: The domestic currency began the session 5 paise stronger at 85.59 against the dollar

The legislation changes incentives on homeownership, commuting and marriage

Hailing the size of the tax cut, Trump said he was going to wait to sign it until after January 1, but changed his mind

Taxpayers are scrambling to determine whether the legislation renders them winners or losers

Republicans were under increased pressure to complete their proposed overhaul of the US tax system as planned

Republicans also agreed to changes to help pay for the deals