U.S. Senate Republicans have reached a tentative budget deal that could allow U.S. tax revenues to decline by as much as $1.5 trillion over 10 years, but they have not agreed on whether to prevent such losses from expanding the federal budget deficit. The tax cuts are part of closed-door talks among...

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Topics:  u.s senate republicans   u.s    deficit   tax cuts   budget   
BING NEWS:
  • Tax revenue jumps 22% in April, but U.S. deficit still looms large
    Government spending outpacing revenue Seven months into the government's fiscal year, federal spending has outpaced tax receipts by $855 billion. The deficit so far ... battle in Congress. Republicans ...
    05/10/2024 - 8:44 am | View Link
  • Biden White House highlights a coming showdown with GOP over 2017 tax cuts that are due to expire
    WASHINGTON -- The winner of November's presidential election will face an epic challenge next year with the coming expiration of nearly $4 trillion in tax cuts — an issue that the Biden White House is ...
    05/10/2024 - 4:50 am | View Link
  • Extending Trump tax cuts would add $4 trillion to deficit, CBO says
    New projections show that extending provisions of President Donald Trump's 2017 tax cut past their sunset dates would add $4 trillion to the federal deficit over ...
    05/9/2024 - 7:56 am | View Link
  • Extending Trump’s tax cuts could ‘run the deficit into the stratosphere.’ Here’s how much that could cost.
    Extending a spate of the 2017 tax cuts enacted under former President Donald Trump could cost $4.6 trillion over 10 years, according to a fresh estimate on Wednesday.
    05/9/2024 - 3:57 am | View Link
  • KS House votes to overturn Kelly’s tax cuts veto, with many Democrats joining Republicans
    The Kansas House on Friday voted to override Democratic Gov. Laura Kelly’s veto of a sweeping tax package, which would eliminate one of the state’s income tax brackets, that she called too expensive.
    04/26/2024 - 5:44 am | View Link
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