17 h. ago US debt fears put dollar on track for worst week since tariffs sell

Greenback falls 1.7% amid concerns over impact of Trump’s tax-cutting bill

Economics

20 h. ago Why Republicans are angry about Trump’s ‘big, beautiful bill’

President’s signature legislation moves to Senate after narrowly passing House but could face a raft of further objections on everything from tax cuts to Medicaid

Politics

34 h. ago Tax cuts and mass deportations: what to know about Trump’s ‘big, beautiful’ spending bill

All the key points laid out in US president’s House-approved sweeping bill as it awaits Senate considerationThe Republican-controlled House of Representatives on Thursday passed the One Big Beautiful Bill act, which will enact Donald Trump’s taxation and spending priorities. The legislation will now be considered in the Senate, where the Republican majority will probably make its own changes.Here is what the version of the bill passed by the House would do: Continue reading...

Economics

34 h. ago Trump’s ‘big, beautiful’ spending bill, from tax cuts to mass deportations

All the key points laid out in the US president’s House-approved sweeping bill as it awaits Senate considerationThe Republican-controlled House of Representatives on Thursday passed the One Big Beautiful Bill act, which would enact Donald Trump’s taxation and spending priorities. The legislation will now be considered in the Senate, where the Republican majority will probably make its own changes.Here is what the version of the bill passed by the House would do: Continue reading...

Economics

41 h. ago Top 10 wealthiest American men collectively earned extra $1B a day, report says, as Trump pushes tax cuts

Despite market turmoil caused by Donald Trump’s tariffs, the group saw an increase in their collective wealth of $365 billion over the last 12 months

Economics

49 h. ago Trump’s massive tax and spending bill clears hurdle to advance to House vote in coming hours

Republicans have been deeply divided over the bill which would extend Trump’s 2017 tax cuts by tightening eligibility for food and health programs US President Donald Trump’s massive tax and spending bill has cleared an important procedural hurdle in the Republican-controlled House of Representatives, when a gatekeeper committee approved the measure and set up a floor vote for passage to occur within hours.Republicans have been deeply divided over the bill, which would extend Trump’s signature 2017 tax cuts, create new breaks for tipped income and auto loans, end many green-energy subsidies and boost spending on the military and immigration enforcement. Continue reading...

Politics

51 h. ago Top 10 wealthiest American men collectively earned an extra $1 billion each day last year, report says, as Trump pushes for tax cuts

Despite market turmoil caused by Donald Trump’s tariffs, the group saw an increase in their collective wealth of $365 billion over the last 12 months

Economics

67 h. ago The US credit rating has been downgraded. But there’s an easy fix for our debt | Robert Reich

Instead of cutting taxes on the richest Americans – who hold much of the country’s debt – simply raise themOn Friday, the credit rating of the United States was downgraded. Moody’s, the ratings firm, announced that the government’s rising debt levels would grow further if the Trump Republican package of new tax cuts were enacted. This makes lending to the US riskier.Moody’s is the third of the three major credit-rating agencies to downgrade the credit rating of the United States.They’ll pay even more interest on the growing debt – to the super-rich.They’ll pay higher interest rates on all other long-term debt. (As higher rates on treasury bonds waft through the economy, they raise borrowing costs on everything from mortgages to auto loans.)The debt crisis will give Republicans even more excuse to do what they’re always wanting to do: slash safety nets. So many Americans could lose benefits they rely on, such as Medicaid and food stamps.Robert Reich, a former US secretary of labor, i...

Politics

69 h. ago Diane Abbott warns Keir Starmer winter fuel payment like Thatcher's poll tax and 'she was gone in a year'

The veteran Labour MP strongly criticised the controversial policy which the Government is believed to now be reconsidering

Events

69 h. ago Labour's tax hikes plot: Rayner 'secretly pushes for' fresh raids on pensions, inheritance, shares, banks and the wealthy

Leaked proposals from Deputy PM Angela Rayner reveal she has been pushing to increase the burden on Brits instead of trimming spending and benefits.

Economics

3 d. ago IMF urges US to curb deficit as Trump tax cut plan stirs debt fears

Top official Gita Gopinath warns over country’s ‘ever-increasing’ debt burden

Politics

3 d. ago ‘Plenty of time’ to solve climate crisis, interior secretary tells representatives

Burgum defends Trump budget slashing green funds, saying AI and Iran pose bigger threats than warmingThe US has “plenty of time” to solve the climate crisis,” the interior secretary, Doug Burgum, told a House committee on Tuesday.The comment came on his first of two days of testimony to House and Senate appropriators in which he defended Donald Trump’s proposed budget, dubbed the “one big, beautiful bill”, that would extend tax reductions enacted during Trump’s first term, while cutting $5bn of funding for the Department of the Interior. Continue reading...

Society

3 d. ago Don’t be fooled. Trump’s ‘One Big Beautiful Bill’ is typically ugly and typically misnamed | Arwa Mahdawi

Republicans love to make the most harmful laws sound sensible or even noble. This pretty-sounding package of tax breaks and spending cuts is just the latest exampleWhat’s big, beautiful and kept a lot of Republicans up late on Sunday night? There might be various responses to that question, but the answer I’m looking for is the One Big Beautiful Bill Act. Coming in at 1,116 pages, the bill isn’t quite War and Peace but it’s definitely big. Whether the mega-package of tax breaks and spending cuts is beautiful, however, is up for debate.And there has certainly been a lot of debate. The bill has been in limbo for a while because a few Republicans who consider themselves “fiscally conservative” are happy with the package’s extension of Trump’s 2017 tax cuts and increased spending for the military and immigration enforcement, but don’t think enough social and climate-related programmes have been slashed to pay for it all. In particular, they want deeper cuts to food stamps and Medicaid, ...

Politics

4 d. ago Will the £20,000 cash Isa limit be cut? Five experts on what could REALLY happen to tax

The Treasury is set to launch a consultation into how Isas can be reformed. It will likely lead to the biggest shake-up of Isas in 26 years.

Economics

7 d. ago House Republicans block Trump’s ‘big, beautiful bill’ in major setback

Rightwing lawmakers say president’s bill – centered on tax cuts and funding deportations – doesn’t make enough cutsRightwing lawmakers derailed Donald Trump’s signature legislation in the House of Representatives on Friday, preventing its passage through a key committee and throwing into question whether Republicans can coalesce around the massive bill.The party has spent weeks negotiating a measure dubbed the “one big, beautiful bill” that would extend tax cuts enacted during Trump’s first term, fund mass deportations of undocumented immigrants, and temporarily make good on his campaign promise to end the taxation of tips and overtime. To offset its costs, Republicans have proposed cuts to the federal safety net, including Medicaid and the Supplemental Nutrition Assistance Program. Continue reading...

Politics

8 d. ago ‘Absurd’: Republicans challenge Johnson to overhaul Trump’s ‘big beautiful bill’ as it remains on knife edge

Conservative Republicans want to see Medicaid work requirements start earlier while Republicans from New York and New Jersey are after an expensive tax cut

Politics

1 week ago The issue that could tear Trump's base apart... and why the president hasn't made up his mind

Republicans are viciously fighting over how dramatically they should cut Medicaid in Donald Trump 's 'big, beautiful bill' as they are trying to provide the tax cuts the president promised.

Politics

2 w. ago Trump’s ‘big beautiful’ spending bill appears on life support as GOP looks to end some tax relief president created

Republicans might have to reduce the number of taxes cut by half a trillion, while GOP lawmakers from blue states rejected a proposal to offer tax relief

Politics

2 w. ago UK politics: Tariffs cut on UK cars, steel and aluminium in US trade deal, says Starmer – as it happened

Car exports will face 10% tariffs while levies on steel and aluminium are cut to zeroTrump and Starmer confirm ‘breakthrough’ UK-US trade dealThe Liberal Democrats treasury spokesperson Daisy Cooper has reiterated the party’s position that any trade deal with the US should be put to parliament for approval before being ratified, saying Labour “should not be afraid” of a vote if they are confident a deal is in the country’s best interests.Cooper, the MP for St Albans, said in a statement:Parliament must be given a vote on this US trade deal so it can be properly scrutinised.A good trade deal with the US could bring huge benefits, but Liberal Democrats are deeply concerned that it may include measures that threaten our NHS, undermine our farmers or give tax cuts to US tech billionaires.If it’s correct, and you know, whilst we haven’t been named publicly, it does sound like something’s happening, nevertheless, it would be wholly speculative [to comment].As you appreciate and know full ...

Economics

2 w. ago Tariffs cut on UK cars, steel and aluminium in US trade deal, says Starmer – UK politics live

Car exports will face 10% tariffs while levies on steel and aluminium are cut to zeroTrump and Starmer confirm ‘breakthrough’ UK-US trade dealThe Liberal Democrats treasury spokesperson Daisy Cooper has reiterated the party’s position that any trade deal with the US should be put to parliament for approval before being ratified, saying Labour “should not be afraid” of a vote if they are confident a deal is in the country’s best interests.Cooper, the MP for St Albans, said in a statement:Parliament must be given a vote on this US trade deal so it can be properly scrutinised.A good trade deal with the US could bring huge benefits, but Liberal Democrats are deeply concerned that it may include measures that threaten our NHS, undermine our farmers or give tax cuts to US tech billionaires.If it’s correct, and you know, whilst we haven’t been named publicly, it does sound like something’s happening, nevertheless, it would be wholly speculative [to comment].As you appreciate and know full ...

Economics