The poorest fifth of Americans would receive 1 percent of the House reconciliation bill's net tax cuts in 2026 while the richest fifth of Americans would receive two-thirds of the tax cuts. The richest 5 percent alone would receive a little less than half of the net tax cuts that year.

A new report by Goldman Sachs finds that while larger tax cuts will yield a bigger growth boost, the drag on economic growth from tariffs will offset that gain.

House lawmakers debated the contours of President Donald Trump’s tax cuts throughout the night as they race to meet a self-imposed deadline to approve the legislation by Thursday.

Goldman said tariffs could overshadow and boost to the economy provided by Republicans' sweeping fiscal package, which includes big tax and spending cuts.

Tax cuts pushed by President Trump are amplifying debt and deficit concerns among the powerful market players who influence interest rates.

Lawmakers in Texas have advanced two bills that could save the state's homeowners hundreds of dollars every year in property taxes.

Despite a brief market scare, the richest 10 Americans got $365 billion richer over the past year, according to a new analysis from Oxfam. The stunning increase in wealth amounts to a gain of roughly $1 billion per day for those billionaires.

Senate's unanimous approval of a tax deduction bill on tips, championed by Sen. Ted Cruz, could affect 4 million workers in tipped occupations.