President Donald Trump is growing frustrated with demands to significantly boost the cap on the state and local tax deduction, according to a senior administration official, signaling a deadlock as Republicans aim to quickly pass a giant tax-cut bill.

The U.S. dollar fell on Wednesday, extending a two-day slide against major peers, as President Donald Trump failed to convince Republican holdouts to back his sweeping tax bill. Traders were also wary of U.

The proposal in the House's spending and tax cut plan, which Trump supports, offers a deduction for seniors worth a small fraction of what he repeatedly promised.

Nonpartisan research groups studying the proposal have estimated that it would add more than $2.5 trillion to the federal debt—currently at an all-time high of $36.8 trillion—over the next decade. Despite those projections,

The idea is politically popular, but the tax benefits may not go as far for low-income workers as many may think.

Billy Long, President Donald Trump's nominee to lead the IRS, answered Senate Finance Committee questions on Tuesday. Here's what to know.

The GOP tax bill could boost the highest-earning Americans' incomes while hurting low earners, according to findings from nonpartisan research groups.