The new tax law signed by President Donald Trump creates a federal tax deduction for interest on auto loans. Starting this year, taxpayers can deduct up to $10,000 of interest annually on loans

Grinnell College would have been the only Iowa school affected by a tax increase on colleges with large endowments in President Donald Trump's budget.

The legislation now heads to the House for possible final approval, though a handful of Republicans there have already voiced opposition.

The top Democrat in the U.S. House is holding a town hall Thursday in Louisiana, home to Republican Speaker Mike Johnson and his deputy, to rally against the health care cuts in the GOP bill that President Donald Trump signed into law.

The bill, ushered through Congress by Republican leadership and signed by Trump Friday, includes $4.5 trillion in tax cuts, slashes spending on Medicaid, and creates temporary tax deductions for overtime and tipped income. It includes $170 billion for immigrant detention and for new personnel for Immigration and Customs Enforcement.

Experts and advocates warn that it could have dire consequences for Alabama’s tenuous rural healthcare situation.

Major Medicaid cuts in Trump’s tax bill could hit rural voters especially hard -- giving organizers hope the party can make improvements in these areas in the midterms.

President Trump's 'big beautiful bill' will provide a boost to the economy in the near term but just a tiny bump over the long run, forecasters say