The tax portion of Republicans’ wide-ranging bill full of President Trump’s domestic priorities would cost $3.7 trillion over the next decade, the Joint Committee on Taxation (JCT)

The Energy and Commerce, Ways and Means, and Agriculture committees will hammer out details on Medicaid and nutritional assistance spending and tax cuts.

Thanks to the Department of Government Efficiency and new tariff revenue, deficit spending dropped by 92 percent during President Donald Trump's first approximately 100 days in office, compared to the same period last year under then-President Joe Biden.

President Donald Trump is waging a trade war without getting approval from Congress: He declared a national emergency to slap import taxes — tariffs — on almost every country on earth.

President Donald Trump's sweeping tariffs are an "unprecedented and unlawful expansion" of executive power, a lawyer for a group of small businesses told a federal court Tuesday morning. The hearing at the Court of International Trade in Manhattan marks the first time a federal court has taken up the question of whether Trump's "Liberation Day" tariffs are legal.

Ron Johnson (R-WI) indicated that President Donald Trump's hope for "one big, beautiful bill" might be sinking. Semafor congressional bureau chief Burgess Everett posted on X Tuesday that Johnson thinks that the Republicans should reconsider doing more than one bill.

The U.S. collected a record $16.3 billion in customs revenue in April, although the "Liberation Day" import tax revenue surge could be short-lived.

The U.S. trade deficit increased to a record high in March, as the looming threat of President Donald Trump 's imminent tariffs fueled stockpiling by importers, who sought to build their inventories before their costs spiked or items became unavailable.

The Trump administration has made moves to ease tariff tensions with China, but the situation remains uncertain in the longterm.