GOP, tax bill
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Legislation moving through Congress includes significant breaks for the affluent as the House rebuffs President Donald Trump’s suggestions.
The massive budget bill passed by the House includes new tax breaks for tipped workers and those who get overtime.
The "Big Beautiful Bill," which passed in the House, includes new provisions for bonus depreciation, R&D deductions, and pass-through relief.
Congressional Republicans are moving quickly to pass a mammoth tax and spending cuts package that could have a direct impact on millions of Americans and drastic consequences for the economy.
Overall, the Republican tax bill, known as the One Big Beautiful Bill Act, would add $2.3 trillion to the deficit over 10 years, according to the CBO.