Taxes

The House and Senate tax overhaul plans are broadly similar, but crucial differences are creating headaches for Republican leaders determined to keep myriad interest groups and factions of the GOP satisfied.

Ivanka Trump said Friday a tax bill that has faced heavy criticism from Democrats is a key to her father's goals of growing the economy and helping the middle class.

Senate Republicans have run into a problem with their proposed tax cuts: Under Senate rules, the cuts would expire after 10 years.

Most Asian stock markets fell Friday after Wall Street fell from record highs on uncertainty over President Donald Trump's tax revamp but news that Beijing will ease curbs on foreign access to some sectors buoyed Chinese shares.

A comparison of a Republican-written tax bill approved Thursday by the House Ways and Means Committee and another being proposed by GOP members of the Senate Finance Committee: —Personal income tax rates: House condenses current seven brackets to four: 12, 25, 35 and 39.6 percent.

The Latest on Republican tax overhaul legislation (all times local): 12:45 p.m.

A comparison of a Republican-written tax bill approved Thursday by the House Ways and Means Committee and another being proposed by GOP members of the Senate Finance Committee: —Personal income tax rates: House condenses current seven brackets to four: 12, 25, 35 and 39.6 percent.

The House Ways and Means Committee advanced the Republican tax reform bill on Thursday sending it to the rules committee next and moving the GOP closer to a legislative victory and overhauling the American tax system.

Romania's president is criticizing a tax overhaul adopted by the country's left-wing government, saying it has generated instability and uncertainty.

It's an article of faith among Republicans — reinforced by the party's drubbing in this week's off-year elections in Virginia and New Jersey — that the GOP's electoral fortunes next year hinge on whether they succeed in their longstanding dream to redraft the nation's complex, inefficient tax code.

U.S. Treasury Secretary Steven Mnuchin left open the possibility of delaying the administration’s planned 15 percentage point reduction in the U.S. corporate tax rate during a speech on Thursday, sending markets into the red.

The Senate version of the Republicans' high-stakes tax overhaul is set to be unveiled with billions in tax cuts for people and corporations, repeal of the federal deduction for state and local taxes, and a likely compression of the personal income tax brackets from seven to four.

Plowing through objections in a drive to wrap up their tax overhaul, House Republicans have blocked Democrats' efforts to get bigger tax benefits for the cost of raising or adopting children.

The Latest on Republican tax overhaul legislation (all times local): 10:00 a.m.

Wisconsin's economic development board approved the key terms of a contract Wednesday implementing a $3 billion incentive package for a Foxconn Technology Group plant in the state, including a personal guarantee from the company's leader to protect state taxpayers.