President Donald Trump’s “no tax on tips” pledge became a catchphrase for his 2024 campaign. Now it’s inching closer to reality. The idea is firmly planted in the sprawling tax cuts

House Republicans are trying to secure passage of President Trump's tax breaks, spending cuts and beefed-up border security package.

The Dow closed lower by 817 points, or 1.91%. The broader S&P 500 slid 1.61% and the tech-heavy Nasdaq Composite fell 1.41%. The three major indexes each posted their worst day in one month. Stocks moved sharply lower and bonds sold off after a 1 p.

A large tax cut, as well as more money for defense and immigration enforcement, would be financed by slashing health, nutrition, education and clean energy programs.

The GOP tax bill could boost the highest-earning Americans' incomes while hurting low earners, according to findings from nonpartisan research groups.

Nonpartisan research groups studying the proposal have estimated that it would add more than $2.5 trillion to the federal debt—currently at an all-time high of $36.8 trillion—over the next decade. Despite those projections,

Deficit hawks who had blocked the measure two days earlier are still dissatisfied and want steeper spending cuts.

Republicans and House Speaker Mike Johnson have come to an agreement to boost the state and local tax deduction to $40K, indicating that one of the last sticking points for President Donald Trump's massive tax cut bill has been resolved,