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

The measure, passed by the House, would roll back incentives for people to buy electric vehicles and for automakers to make them in the U.S.

The cost for a 30-year fixed-rate mortgage crept up to levels not seen since February, reflecting bond market fears over Trump’s plan to pay for tax cuts with an estimated $3.8 trillion in new debt. “Trump and Republicans are directly responsible for the spike in the 30-year Treasury bond yield and mortgage rates,

Investors are fearing that projections for the U.S. debt mountain could increase further when a sweeping tax and spending bill goes through the Senate, with the risk that bond yields stay higher for longer.

President Trump’s tax plan has sparked concern among investors, driving Treasury bond yields to a nearly two decade high amid growing worries over U.S. debt.

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.

Bond investors see a lot to be worried about from Washington policy. That could have repercussions for taxpayers.

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,

On the campaign trail, President Donald Trump sought to win over working-class voters in key swing states with a promise to exempt tips and overtime pay from federal income taxes.