Almost all of the cuts that Republicans hope to pass in the coming weeks will last only until President Trump is set to leave office.

The vote came after an all-night debate that saw at least one lawmaker fall asleep at his post. Republicans rejected a series of proposed changes by opposition Democrats, who blasted the bill as a wasteful giveaway to the wealthy that would shred health and food benefits for the poor and worsen the nation's financial standing.

Gov. Kevin Stitt has joined Oklahoma legislative leaders in announcing a sweeping agreement on a nearly $12.6 billion state budget for the next fiscal year, one that features an income-tax cut Stitt long has hoped for during his six-plus years in office.

State leaders rolled out the FY 2026 budget, which includes an income tax cut. Republican leaders did not originally see eye-to-eye on the logistics of the cut, but did come to a compromise.

Under current law, passed during President Donald Trump’s first term, the tax credit hinges onthe child’s citizenship status, not the parent’s. But the bill would limit eligibility to parents with Social Security numbers, a change that precludes undocumented immigrants as well as some with legal authorization, such as student visa holders.

Speaker Mike Johnson is trying to strike a delicate balance between blue-state Republicans and conservative hard-liners on a sprawling bill for Trump's agenda.

Germany's economic downturn and tax relief are likely to reduce total tax revenues by 81.2 billion euros ($90.94 billion) between 2025 and 2029 compared with a projection in October, figures the country's council of tax experts showed on Thursday.

The cost of Republican lawmakers’ draft plan for sweeping tax cuts weighed in at $3.8 trillion over the next 10 years in one official estimate. The reality is likely much higher, thanks to the use of budget and political tools designed to minimize the appearance of the fiscal hit,