The House-passed bill includes a large tax cut, as well as more money for defense and immigration enforcement, financed in part by slashing health, nutrition, education and clean energy programs.

House Republicans cleared a major hurdle over the weekend in advancing a sweeping package of President Trump’s tax proposals, along with significant spending cuts and reforms for key federal programs.

House Republicans narrowly passed President Trump's budget megabill. But the legislation still faces a rocky road in the Senate, where multiple GOP lawmakers are calling for significant rewrites. Susan Glasser,

Subsidies for clean power would end years earlier in a giant tax and spending bill narrowly passed by the Republican-led House of Representatives early Thursday, driving down shares of solar companies including Sunrun Inc.

Republican holdouts appear to have a deal with House GOP leadership to advance President Donald Trump's sweeping tax policy bill. The legislation will be tweaked to move up the implementation of Medicaid work requirements from 2029 to December of 2026;

At the center of the sweeping bill is trillions in tax cuts, which Republicans aim to partially offset through changes to safety net programs like Medicaid and SNAP.

Yes, the Senate will almost certainly make big changes to House-passed legislation effecting President Donald Trump’s domestic priorities. Yes, everyone will be watching for the reaction from financial markets.

According to a 2022 CBO report, the baseline household income for Americans in the lowest tenth of the distribution is $32,200, after taxes and transfers. That figure increases to $444,600 for Americans in the highest tenth of the distribution.