The $40,000 cap would begin this year, with the same $500,000 income phaseout, and both figures would rise by 1% annually from 2026 through 2033.

Based on the latest legislative text, here are five key changes proposed in the Senate GOP tax bill. 1. More modest Child Tax Credit — and sharper Medicaid cuts.

The Senate passed President Trump's sweeping spending package, including work requirements for some Medicaid recipients.

While the two bills are similar on the major tax provisions, how they work out their differences in the coming weeks will determine how quickly they can get a final product over the finish line. President Donald Trump is pushing to have the legislation on his desk by July 4th.

The Senate's version of the One Big Beautiful Bill takes the shine off some of Trump's most popular promises. Here's why.

All eyes are now on the House after the Senate narrowly passed a major tax cut and spending bill that is the centerpiece of President Donald Trump's agenda.

Here's more of what you need to know. Senate tax bill proposals. Like the House version of Trump’s One Big Beautiful Bill Act, the Senate’s proposed bill proposes several tax changes and ...

Business and labor groups earlier this week had blasted the bill's phaseout of tax credits. The Senate bill effectively phases out renewable energy tax credits after 2026 if projects haven't started construction. Otherwise, wind and solar projects whose ...