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The Latest Breaking News from Tax Cuts

Trump is going to get 'punched in the face' by markets if he pushes through spending bill without a plan for national debt and tariffs, says Wharton professor

Republicans argue that growth is the best way to rebalance America’s books, but economists fear that tax cuts may be the final nail in the coffin for national debt.

Fortune

U.S. economy will be growing faster than 3% this time next year, predicts Treasury’s Bessent

A combination of pro-growth trade policies, tax cuts, and deregulation will soon lead to a pickup in activity, according to the Trump administration, following a 0.3% annualized contraction in the first quarter.

Fortune

‘Fiscally irresponsible’: Trump’s ‘big, beautiful bill’ benefits the rich at the expense of the poor

Bill will make permanent huge tax cuts to the wealthy and cost the government $4.6tn over the next 10 years

The Guardian - US

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Why Republicans are angry about Trump’s ‘big, beautiful bill’

President’s signature legislation moves to Senate after narrowly passing House but could face a raft of further objections on everything from tax cuts to Medicaid

The Independent UK

Trump Official Banking on 'Growing Economy' to Offset Tax Cuts Sparks Backlash Online: 'My Grandchildren Are Screwed''

A senior Trump administration official sparked online backlash after being asked how the cost of tax cuts provided by the GOP spending bill would be counteracted, stating that the administration was depending on the future possibility of a growing economy.

Latin Times

‘We need grown up conversations’: Adam Kinzinger cuts through MAGA spin to clarify ‘Big Beautiful Bill’ offers no tax cuts whatsoever

The lone wolf howls again.

We Got This Covered

Trump’s ‘big, beautiful’ spending bill, from tax cuts to mass deportations

All the key points laid out in the US president’s House-approved sweeping bill as it awaits Senate consideration

The Guardian - US

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‘Debt bomb ticking’: Thomas Massie rebrands Trump’s ‘big beautiful bill’ in Senate speech

It's Trump vs. Massie, round 7,384.

We Got This Covered

‘Pro-worker priorities’? Trump’s budget bill offers the exact opposite

The ‘big, beautiful’ measure going through Congress would cut health, food and education benefits – and offer a huge boost to the richest

The Guardian - US

Asian Equities Track Wall St Sell-off As US Deficit Fears Grow

Asian equities sank and Treasuries remained under pressure following sharp losses on Wall Street fuelled by US economy fears as Donald Trump tries to push through fresh tax cuts that could balloon the already huge deficit.

International Business Times

$12 billion added to congressional spending bill to reimburse states like Texas for border spending

The U.S. House approved the budget reconciliation bill, which also includes preservation of 2017 tax cuts and changes to Medicaid and SNAP.

The Texas Tribune

NZ Budget 2025: tax cuts and reduced revenues mean the government is banking on business growth

Not a lot is known about the government’s plans for taxes in the 2025 budget. Few tax policies have been announced so far, and what has been revealed involves targeted tax cuts for business interests.

The Conversation

Trump warns Republicans not to 'f— around' with Medicaid because he knows it's political suicide for MAGA

The GOP caucus is still divided on how deeply to cut public programs in order to achieve trillions in tax cuts.

Fortune

Trump Pushes Republicans To Back 'Big, Beautiful' Tax Bill

US President Donald Trump told rebel Republicans Tuesday to back his so-called "big, beautiful bill," despite criticism that its tax cuts will increase America's yawning budget deficit.

International Business Times

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Kiplinger

Millions Could Lose SNAP Food Benefits Under Trump Tax Cut Plan

The House Agriculture Committee approved nearly $300 billion in cuts to SNAP benefits, putting many at risk of hunger.

Fortune

Uncle Sam’s biggest creditor faces a fiscal crisis ‘worse than Greece’ as its borrowing costs hit 20-year high

Japan's prime minister warned members of parliament the country cannot afford any tax cuts funded through the issue of new debt as calls grow for stimulus ahead of July elections to the upper house.

MarketBeat

MarketBeat Week in Review – 05/12 - 05/16

Stocks had a strong week on a potential U.S.-China trade deal and cooler inflation data, but volatility may remain as investors shift focus to tax cuts

Al Jazeera

Trump’s ‘big, beautiful bill’ at a crucial juncture

The bill proposes sweeping changes, including Trump’s 2017 tax cuts and enacting deep cuts to social programmes.

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news in one place.

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The Guardian - US

House Republicans block Trump’s ‘big, beautiful bill’ in major setback

Rightwing lawmakers say president’s bill – centered on tax cuts and funding deportations – doesn’t make enough cuts

Fortune

Will bond vigilantes kill Trump tax cuts?

The bill arriving in Congress could add an estimated $3.8 trillion to the federal deficit through 2034.

The Conversation

Congress began losing power decades ago − and now it’s giving away what remains to Trump

Republicans in Congress have been making behind-the-scenes efforts to pass major domestic legislation via the federal budget process. They include potential cuts to Medicaid and extending the 2017 Trump tax cuts.

Reason

Republican Reconciliation Package Will Lead to $3 Trillion Annual Deficits

A new analysis from the Committee for a Responsible Federal Budget estimates that the national debt will equal nearly 130 percent of GDP by 2034.

Investors Business Daily

Trump Tax Cuts Advance; Winners, Losers And What To Watch

The House GOP reconciliation package includes tax cuts proposed in the 2024 campaign. Here's what it means for investors and households.

International Business Times

Republicans Eye Key Votes On Trump Tax Cuts Mega-bill

Republicans geared up Tuesday for a series of crucial votes on Donald Trump's domestic policy mega-bill, with rows over spending threatening to unravel the US president's plans for sweeping tax cuts.

Kiplinger

I'm a Financial Planner: Here Are Five Lesser-Known Ways to Avoid Estate Tax

The clock is ticking on the estate and gift tax provisions in the Tax Cuts and Jobs Act, so the sooner you act on removing assets from your estate, the better.

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People

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