Taxes

After a two-week break, Congress is back to hammer out the details in President Donald Trump's "big beautiful bill."

In February, the House of Representatives passed a spending bill for the 2025 fiscal year and set forth budgetary levels for the fiscal years 2026 through 2034. The bill in question is the GOP's attempt to put all of Trump's legislative agenda in one sweeping spending bill that would include the president's priorities for taxes, border security and energy.

During his National Day of Prayer speech on Thursday, President Donald Trump used the occasion to promise that tax-cut legislation would work its way through Congress.

The president seemed to joke that Americans "might give up your religion" if the Republican-backed budget bill doesn't pass.

Trump said with a smile, "This is a religious ceremony but that's part of the religion, because if your taxes go up 68 percent you might give up your religion. You might have no choice. You'll be working too hard to make it...

The Trump administration is pressing Congress to dramatically expand the number of business-friendly tax cuts in a budget bill that's already complicated and costly.

Why it matters: New additions, such as full expensing to build new factories in the U.S., are leading to confusion among senators and staffers on what President Trump absolutely must have in his tax bill, and how much it will ultimately cost.

• "Everything here comes down to, how do you pay for it and how does it fit into our other priorities?" Sen. Tom Tillis (R-N.C.) told Axios...

President Donald Trump on Sunday night reiterated an extraordinary ambition he and members of his administration have voiced from time to time throughout his young second term: One day, Americans won’t pay any more income tax, and you’ll have Trump’s tariffs to thank for it.

As if the federal bureaucracy didn’t have enough to do, Donald Trump says that in a second term he’d create a new tuition-free online university to “compete directly” for college students. It would award bachelor’s degree equivalents “that the U.S. government and all federal contractors will henceforth recognize.” Step right up to enroll in Trump University 2.0.

As Congress debates budget bills proposing deep cuts in federal spending, Biden-era tax credits for clean energy have gained crucial support among some Republican lawmakers and voters.

Four Republican senators wrote to their party's leadership April 9 to "caution against the full-scale repeal" of tax credits in the Inflation Reduction Act (IRA) that support investments in renewable energy installations, battery manufacturing, energy efficiency improvements and the production of alternative fuels.

President Donald Trump is considering a proposal put forward by some Republicans to raise the corporate tax rate to offset trillions of dollars in other tax cuts proposed by the White House, which would break from his 2024 campaign platform.

Tariffs help rebuild the middle class, reducing the need for handouts and cutting the left’s excuses for expanding government programs. Isn’t that what conservatives want?

Earlier this week, Sen. Rand Paul (R-Ky.) launched a short-lived attempt to block President Trump’s new tariffs. Fortunately, in this case, he lost. Vice President JD Vance cast the tie-breaking vote.

President Donald Trump on Friday said his administration would revoke Harvard University’s tax-exempt status, escalating his fight with the nation’s oldest institution of higher education.

“We are going to be taking away Harvard’s Tax Exempt Status,” Trump wrote in a social media post. “It’s what they deserve!”