The poorest fifth of Americans would receive 1 percent of the House reconciliation bill's net tax cuts in 2026 while the richest fifth of Americans would receive two-thirds of the tax cuts. The richest 5 percent alone would receive a little less than half of the net tax cuts that year.

The House budget bill that narrowly passed in an early morning vote on Thursday would effectively put the brakes on a clean energy production boom in the United States spurred by tax credits enacted in 2022.

House Republicans released details on President Trump’s ‘one big, beautiful bill,’ including an increased child tax credit.

Some families in the Golden state may see an increase in their federal child tax credit, but thousands could lose it.

Gov. Newsom’s latest budget proposal lays out deep cuts to public universities and health care. It also seeks to more than double the tax credits for Hollywood studios — an expansion moving smoothly through the state Legislature.

That figure, based on an analysis of census data ... removing the child tax credit creates even less incentive. “They’re trying to make a statement by targeting children, and in doing so ...