Senate passes budget proposal, moving the GOP closer to tax overhaul
On Thursday night, the Senate approved a 2018 budget resolution on a 51-49 vote, authorizing adding another $1.5 trillion to the federal deficit over a decade in order to cover President Trump's proposed tax cuts. The budget resolution contains a provision allowing Senate Republicans to pass a tax bill with no Democratic votes.
Trump's tax plan is still being developed, but Democrats are warning voters that all signs point to it benefiting the wealthiest Americans and corporations. An amendment was crafted by House and Senate Republicans so they don't have to spend weeks reconciling the Senate budget with the version the House has already passed. Both the House and Senate tax-writing committees are trying to release their draft legislation by early November.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
5 sleeper hit cartoons about Trump's struggles to stay awake in court
Cartoons Artists take on courtroom tranquility, war on wokeness, and more
By The Week US Published
-
The true story of Feud: Capote vs. The Swans
In depth The writer's fall from grace with his high-flying socialite friends in 1960s Manhattan is captured in a new Disney+ series
By Adrienne Wyper, The Week UK Published
-
Scottie Scheffler: victory for the 'pre-eminent golfer of this era'
Why Everyone's Talking About Masters victory is Scheffler's second in three years
By The Week Staff Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published