The congressional budget bill, dubbed the "One Big Beautiful Bill' by its Republican authors, is making its way through Congress. Here's what you need to know.

The narrow win for the bill, which hikes the deduction for state and local taxes to $40,000, came after Speaker Mike Johnson won over right-wing fiscal hawks and a small group of rebels from the

Here is a look at who benefited and who lost out, or at least didn’t achieve big wins, from the Republican reconciliation legislation.

After scheduling a 1 a.m. committee hearing to continue advancing President Trump's desired "big, beautiful" budget bill, Democrats are slamming the move as an effort to avoid criticism.

The House Budget Committee has advanced the bill as a way to lower federal spending so that President Donald Trump's tax cuts can be approved.

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,

House Republicans narrowly passed President Trump's budget megabill. But the legislation still faces a rocky road in the Senate, where multiple GOP lawmakers are calling for significant rewrites. Susan Glasser,

Others could see their monthly benefits reduced if the bill were to become law, according to the nonpartisan Congressional Budget Office.