Rep. Derrick Van Orden (R-Wis.) said Democrats are "lying" about the sweeping GOP plan to cut $1 trillion from federal health and food programs.

On Thursday, the U.S. House narrowly passed a sweeping bill that slashes about $3.8 trillion in taxes by scaling back social safety net programs including Medicaid and SNAP.

Despite a brief market scare, the richest 10 Americans got $365 billion richer over the past year, according to a new analysis from Oxfam.

The final proposed 2025-26 spending plan that takes effect July 1 reduces the state’s highest marginal income tax rate to 6% from 6.2%. $35 million for the state Department of Transportation to cover Hurricane Helene expenses; $80 million for the Department of Commerce’s Locate SC program, which prepares sites for development;

Norway plans to randomly select 100,000 people born between 1990 and 2005 to receive annual tax cuts of up to $2,700 for several years, aiming to measure the effect on income and employment, the Labour Party government said on Tuesday.

The Reserve Bank of India has been the sector’s most vocal critic, with one deputy governor in 2022 calling crypto “akin to Ponzi schemes”. In 2018, it ordered a ban on banking services to crypto companies, making it difficult for them to operate, although the prohibition was overturned two years later by the country’s Supreme Court.

Yields on government debt have risen as Congress weighs Trump’s budget plan. Meanwhile, interest on the debt is approaching $1 trillion a year – on par with proposed Defense spending.

Democratic leaders are cautiously optimistic about one popular tax-cutting idea: A $150-per-child tax credit, up to $450 per household.