Legislation
Breaking news and analysis on the latest legislation and activities affecting financial services from Capitol Hill.
How 'Trump Accounts' for Children Would Work
By Dinah Wisenberg BrinThe accounts would offer more spending flexibility but fewer tax benefits than 529 plans.
May 22, 2025
What's Next for the Trump Tax Bill"We are so far away from an acceptable bill, it’s hard to say," said Sen. Ron Johnson, R-Wis.
May 22, 2025
House Passes Tax Package by 215-214 VoteA 42-page manager's amendment was added but did not appear to affect the health account provisions.
May 22, 2025
House Passes Trump Tax BillThe bill now heads to the Senate, where groups of Republicans are pressing for extensive changes.
May 21, 2025
White House Says Failure to Pass Tax Bill Would Be ‘Ultimate Betrayal’Lawmakers struck a deal on the SALT cap, but some ultraconservatives are still on the fence.
May 21, 2025
New Bill Eliminates Cap on Social Security Payroll TaxesThe Medicare & Social Security Fair Share Act also increases the net investment income tax on income above $400,000.
May 21, 2025
Johnson Says Agreement Reached on Raising SALT Cap to $40,000The agreement suggests a resolution to one of the final issues holding up President Donald Trump’s economic bill.
May 21, 2025
Senate Passes No Tax on Tips ActThe bill, which passed 100-0, would exempt up to $25,000 in tips from federal income tax.