WASHINGTON (AP) — The multitrillion-dollar tax breaks package passed by House Republicans early Thursday would gut clean energy tax credits that Democrats approved three years ago while supporting increased mining, drilling and other traditional energy production.

The carried interest loophole refers to a provision in the U.S. tax code that allows investment fund managers, like private equity executives, to pay a lower tax rate than normal,

Further into the future, the bill will likely saddle America with a higher fiscal deficit, as tax cuts are coupled with increased spending on defense.

Donald Trump's self-described "big, beautiful" tax bill has officially passed the House of Representatives and is now headed to the Senate.

Financial markets are looking for more “fiscal discipline” from Washington, a top official at the Federal Reserve warned.

Under the bill, employees would be eligible for an annual income tax deduction of $25,000 for some types of cash tips.

After both parties in Washington embraced ending federal income tax on tips during the last election cycle, a bill that would do just that made it through the Senate Tuesday. The big story in Congress right now is that Republican lawmakers in the House are negotiating a large-scale tax bill that would extend 2017 tax cuts and,

The Senate passed a bill on Monday which aims to eliminate taxes on tips in the United States. While it still has a long road before it takes effect, here's what Tennesseans should know.