Us Tax Bill

Trump signs his 'big, beautiful' tax bill at White House ceremony

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

House passes Trump's big tax bill, sends it to President's desk for assent

The tight roll call, 218-214, came at a potentially high political cost, with two Republicans joining all Democrats opposed

State AI law ban dropped from Trump's tax bill after GOP rift over rules

A controversial bid to deter states from regulating artificial intelligence for a decade seemed on its way to passing as the Republican tax cut and spending bill championed by President Donald Trump worked its way through the US Senate. But as the bill neared a final vote, a relentless campaign against it by a constellation of conservatives including Republican governors, lawmakers, think tanks and social groups had been eroding support. One, conservative activist Mike Davis, appeared on the show of right-wing podcaster Steve Bannon, urging viewers to call their senators to reject this AI amnesty for trillion-dollar Big Tech monopolists. He said he also texted with Trump directly, advising the president to stay neutral on the issue despite what Davis characterised as significant pressure from White House AI czar David Sacks, Commerce Secretary Howard Lutnick, Texas Sen. Ted Cruz and others. Conservatives passionate about getting rid of the provision had spent weeks fighting others

Explainer: What's inside Trump's controversial 'One Big Beautiful Bill'

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

'So tempting to escalate': Musk fires back as Trump hints at deportation

US President Donald Trump threatens to review Elon Musk's citizenship and EV subsidies as tensions over a Republican tax bill mount; Musk hints at retaliation but says he'll hold off - for now

Republicans race toward final vote on US tax bill, daring critics to oppose

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,

Senate passes Trump's 'Big and Beautiful' Bill as Vance breaks tie

Senate Republicans hauled President Donald Trump's big tax breaks and spending cuts bill to passage Tuesday on the narrowest of votes, pushing past opposition from Democrats and their own GOP ranks after a turbulent overnight session. Vice President JD Vance broke a 50-50 tie to push it over the top. The three Republicans opposing the bill were Sens Thom Tillis of North Carolina, Susan Collins of Maine and Sen Rand Paul of Kentucky. The outcome capped an unusually tense weekend of work at the Capitol, the president's signature legislative priority teetering on the edge of approval, or collapse. The difficulty it took for Republicans, who have the majority hold in Congress, to wrestle the bill to this point is not expected to let up. The package now goes back to the House, where Speaker Mike Johnson had warned senators not to deviate too far from what his chamber had already approved. But the Senate did make changes, particularly to Medicaid, risking more problems as they race to ...

Musk threatens to form new party over Trump's 'insane' $5 trn spending bill

Elon Musk criticises Trump's debt ceiling bill as 'fiscally reckless', warns Congress members of primary losses

Musk lashes out at tax bill supporters, threatens to unseat lawmakers

Musk warned that the proposed cuts to EVs and other clean energy credits would be "incredibly destructive" to the country, destroying millions of jobs and giving "handouts to industries of the past"

Debate underway in Senate on Trump's big bill, but overnight voting delayed

Debate is underway in the Senate for an all-night session Sunday, with Republicans wrestling President Donald Trump's big bill of tax breaks and spending cuts over mounting Democratic opposition and even some brake-pumping over the budget slashing by the president himself. The outcome from the weekend of work in the Senate remains uncertain and highly volatile, and overnight voting has been pushed off until Monday. GOP leaders are rushing to meet Trump's Fourth of July deadline to pass the package, but they barely secured enough support to muscle it past a procedural Saturday night hurdle in a tense scene. A handful of Republican holdouts revolted, and it took phone calls from Trump and a visit from Vice President JD Vance to keep it on track. GOP Senator Thom Tillis of North Carolina announced Sunday he would not seek reelection after Trump badgered him for saying he could not vote for the bill with its steep Medicaid cuts. A new analysis from the nonpartisan Congressional Budge

US Treasury deal with G7 kills 'revenge tax' that spooked Wall Street

Section 899, dubbed the 'revenge tax,' was backed by House Republicans and the White House to counter what they saw as discriminatory taxes on US firms by several foreign nations

Trump-backed tax bill aims to undo Obama and Biden policy milestones

Chiseling away at President Barack Obama's Affordable Care Act. Rolling back the green energy tax breaks from President Joe Biden's Inflation Reduction Act. At its core, the Republican big, beautiful bill is more than just an extension of tax breaks approved during President Donald Trump's first term at the White House. The package is an attempt by Republicans to undo, little by little, the signature domestic achievements of the past two Democratic presidents. We're going to do what we said we were going to do, Speaker Mike Johnson said after House passage last month. While the aim of the sprawling 1,000-page plus bill is to preserve an estimated USD 4.5 trillion in tax cuts that would otherwise expire at year's end if Congress fails to act and add some new ones, including no taxes on tips the spending cuts pointed at the Democratic-led programmes are causing the most political turmoil. The nonpartisan Congressional Budget Office said this week that 10.9 million fewer people wou

Elon Musk slams Trump's tax bill as wasteful 'abomination' amid backlash

Musk attacked the legislation days after leaving a temporary assignment leading the administration's Department of Government Efficiency initiative to cut federal spending

Bond vigilantes stirred by US tax bill cloud foreign inflows to India

The spread between the benchmark 10-year Indian and US bonds has shrunk to a level last seen over two decades ago after the US Tax Bill

Why did Waaree Energies, Premier Energies stock slip up to 11% in trade?

Waaree Energies and Premier Energies stock tumbled up to 11 per cent after the new US tax bill was approved

A U-turn: US Senator Joe Manchin agrees to $369-billion tax bill

The bill imposes a 15% minimum corporate levy on firms that have traditionally paid little-to-no taxes thanks to credits and deductions

Tax law likely to send factories, jobs out of the US, say critics

Under the new law, income made by American companies' overseas subsidiaries will face the US taxes that are half the rate applied to their domestic income

US tax Bill may inspire cuts globally, fuelling trade tensions

Trump again emphasised his "America First" mantra

Republican-controlled US House approves first tax overhaul in over 30 years

The $1.5 trillion bill will be sent to President Donald Trump for his signature

European stocks edge down as US Senate approves tax bill

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan bobbed lower in a choppy session