Derrick Van Orden (R-Wis.) says Republicans aren’t actually cutting anyone’s federal health or food benefits in President Donald Trump’s sweeping tax bill — a plan that slashes $1 trillion from Medicaid and food assistance programs.

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 cost for a 30-year fixed-rate mortgage crept up to levels not seen since February, reflecting bond market fears over Trump’s plan to pay for tax cuts with an estimated $3.8 trillion in new debt. “Trump and Republicans are directly responsible for the spike in the 30-year Treasury bond yield and mortgage rates,

Bond investors see a lot to be worried about from Washington policy. That could have repercussions for taxpayers.

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.

The poorest fifth of Americans would receive 1 percent of the House reconciliation bill's net tax cuts in 2026 while the richest fifth of Americans would receive two-thirds of the tax cuts. The richest 5 percent alone would receive a little less than half of the net tax cuts that year.