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1 week ago | 
news.bloombergtax.com | Erik Wasson |Alicia Diaz |Alicia Díaz |Steven Dennis
Republican leaders are aiming for quick negotiations over needed changes to the newly unveiled Senate tax bill which lacks the votes to secure majorities in both chambers as written. The prospect of prolonged talks with holdouts in both the conservative and moderate wings of the party threaten Senate Majority Leader John Thune’s goal of passing President Donald Trump’s tax-cut legislation by July 4.
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2 weeks ago | 
news.bloomberglaw.com | Steven Dennis |Alexandra Harris
Texas Senator Ted Cruz pitched Republican senators Wednesday on ending the Federal Reserve’s authority to pay interest to banks, claiming it would save $1.1 trillion over a decade, with members of the party’s conservative flank lauding the idea. “I made the case directly to the president in the Oval Office last week, I made the case at lunch today,” Cruz said in an interview at the Capitol.
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3 weeks ago | 
news.bloomberglaw.com | Erik Wasson |Steven Dennis |Ari Natter
Significant changes are in store for President Donald Trump’s signature $3.9 trillion tax-cut bill as the Senate begins closed-door talks this week on legislation that squeaked through the House by a single vote. Senate Republican leaders are aiming to make permanent many of the temporary tax cuts in the House bill, a move that would increase the bill’s more than $2.5 trillion deficit impact.
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1 month ago | 
news.bloombergtax.com | Steven Dennis |Ari Natter |Erik Wasson |Emily Birnbaum
House Republican leaders released a new version of President Donald Trump’s massive tax and spending bill with a higher limit on the deduction for state and local taxes and other changes in a bid to win over warring GOP factions to support the legislation. The updated legislation released Wednesday night also would speed up cuts to Medicaid and elimination of Biden-era clean energy tax breaks, a demand of hardline conservatives.
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1 month ago | 
news.bgov.com | Oma Seddiq |Steven Dennis |Tony Capaccio |Roxana Tiron
The US Air Force would find it “almost impossible” to vacate certain bands of radio waves used primarily for radars, the service’s new secretary said, hours before President Donald Trump doubled down on plans for a spectrum sale. Secretary Troy Meink’s statements Tuesday before the Senate Armed Services Committee likely will fuel the opposition of defense hawks’ plans that aim to auction portions of the electromagnetic spectrum to raise money for a massive GOP tax package.
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1 month ago | 
news.bloomberglaw.com | Emily Birnbaum |Jarrell Dillard |Steven Dennis |Erik Wasson
May 19, 2025, 1:52 PM UTC Emily Birnbaum Bloomberg News Jarrell Dillard Bloomberg News Steven T. Dennis Bloomberg News Erik Wasson Bloomberg News Representative Chip Roy, a Republican from Texas, speaks to members of the media on Capitol Hill in Washington, DC. Photographer: Stefani Reynolds/Bloomberg A key House committee advanced President Donald Trump’s giant tax and spending package after Republican hardliners won agreement from party leaders to speed up cuts to Medicaid health coverage.
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1 month ago | 
news.bloomberglaw.com | Emily Birnbaum |Jarrell Dillard |Steven Dennis |Erik Wasson
May 19, 2025, 1:52 PM UTC Emily Birnbaum Bloomberg News Jarrell Dillard Bloomberg News Steven T. Dennis Bloomberg News Erik Wasson Bloomberg News Representative Chip Roy, a Republican from Texas, speaks to members of the media on Capitol Hill in Washington, DC. Photographer: Stefani Reynolds/Bloomberg A key House committee advanced President Donald Trump’s giant tax and spending package after Republican hardliners won agreement from party leaders to speed up cuts to Medicaid health coverage.
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1 month ago | 
news.bloombergtax.com | Emily Birnbaum |Jarrell Dillard |Steven Dennis |Erik Wasson
A key House committee advanced President Donald Trump’s giant tax and spending package after Republican hardliners won agreement from party leaders to speed up cuts to Medicaid health coverage. The vote in the House Budget Committee paves the way for passage of the legislation as soon as Thursday, House Republican leadership aides said Monday.
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1 month ago | 
news.bloomberglaw.com | Teresa Xie |Steven Dennis
Attorneys for Donald Trump’s World Liberty Financial crypto project pushed back against claims about potential conflicts of interest raised by the Democratic head of a Senate investigative subcommittee. “The company has exercised rigorous diligence to ensure compliance with applicable legal and regulatory obligations at every stage,” World Liberty lawyers wrote in a letter dated May 15.
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1 month ago | 
news.bloomberglaw.com | Teresa Xie |Steven Dennis
Attorneys for Donald Trump’s World Liberty Financial crypto project pushed back against claims about potential conflicts of interest raised by the Democratic head of a Senate investigative subcommittee. “The company has exercised rigorous diligence to ensure compliance with applicable legal and regulatory obligations at every stage,” World Liberty lawyers wrote in a letter dated May 15.
