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President Donald Trump

Trump is already backtracking on his promise for a ‘very major tax cut’ before the midterms

President Donald Trump's promise of a second tax cut aimed at the middle class is quickly unraveling, since getting such a bill passed before the midterm elections in November would be practically impossible.

House Republicans just passed their huge ‘Tax Cuts 2.0’ bill, but it’s probably dead in the water

House Republicans passed their "Tax Cuts 2.0" package on Friday, which would extend the Tax Cuts and Jobs Act's individual tax cuts. The extension would provide a small boost to the economy and mainly favor wealthier Americans. The bill is also likely dead on arrival in the Senate.