If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out over $500,000.

The multitrillion-dollar GOP tax bill would have detrimental impacts on sustainability efforts in the U.S., according to experts.

Under the bill, employees would be eligible for an annual income tax deduction of $25,000 for some types of cash tips.

House Republican leaders released a new version of President Donald Trump’s massive tax and spending bill with a higher limit on the deduction for state and local taxes and other changes in a bid to win over warring GOP factions to support the legislation.

The spending bill passed by the U.S. House increases a tax the richest private universities pay on their endowment investment gains, a move proponents say reins in "woke" schools but that critics say will wind up hurting the poorest students the most.

President Donald Trump's sweeping tax and policy bill that would change Americans' everyday lives has cleared one big hurdle after several marathon days of negotiations in the U.S. House and an assist from the president himself.

House Republicans are proposing to gut energy savings and clean energy tax credits in President Donald Trump’s “big, beautiful” tax bill — money that is creating thousands of jobs in GOP states.

Chances of a close brush with a US payment default are growing as the Senate plans for time-consuming revisions to President Donald Trump’s sprawling, multi-trillion-dollar tax and spending package.