The current version of the proposal calls for the state and local tax deduction cap to be hiked to $30,000, which a group of blue-state Republicans have said is a nonstarter.

In addition to raising the endowment tax rate for the richest schools to as much as 21%, the bill hits schools with heavy foreign student enrollment.

It targets several clean energy tax credits implemented under the Democratic reconciliation bill passed under President Joe Biden, including eliminating tax credits for electric vehicles, credits for clean energy home investments, and sunsets tax credits for certain types of renewable energy production.

WASHINGTON (AP) — A proposal by Republicans in Congress would allow President Donald Trump’s administration to remove the tax-exempt status of nonprofits that it says support terrorism, creating what some nonprofits say is an arbitrary standard to financially punish charities that advocate for issues that don’t align with his agenda.

House Republicans are proposing to bar most non-citizens from receiving taxpayer-funded benefits, including food stamps, in President Donald Trump’s “one

An effort to help President Trump strip tax-exempt status from nonprofits he deems to support "terrorism" has sparked serious concerns.

WASHINGTON (AP) — House Republicans revealed the sweeping tax provisions for President Donald Trump’s big bill Monday, tallying at least $4.9 trillion in costs so far, partly paid for with reductions to Medicaid and other programs used by millions of Americans.

The Congressional Budget Office estimates the cuts will lead to 8.6 million people losing coverage over the next decade.