The House version of the bill is calculated to add about $3.8 trillion to the federal government's $36.2 trillion in debt over the next decade, according to the Congressional Budget Office.

The House votes in favor of "big beautiful bill." If bill passes Senate, some will see tax cuts and millions could lose Medicaid coverage.

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 spending bill passed by the U.S. House increases a tax the richest private universities pay on their endowment investment gains, a move proponents say reins in "woke" schools but that critics say will wind up hurting the poorest students the most.

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.

Chances of a close brush with a US payment default are growing as the Senate plans for time-consuming revisions to President Donald Trump’s sprawling, multi-trillion-dollar tax and spending package.

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

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,