Economic upheaval caused by the pandemic has clouded analysts’ ability to understand the effects of the 2017 tax law. Republicans call it a huge success and want to extend it anyway.

Scott Bessent, Donald Trump's pick for Treasury Secretary, stressed the importance of tax cuts for the wealthy during his confirmation hearing.

The U.S. national debt is projected to surge by $23.9 trillion over the next decade, according to the Congressional Budget Office.

The national debt is slated to rise by $23.9 trillion over the next decade, a sum that does not include trillions of dollars in additional tax cuts being championed by President-elect Donald Trump

The Congressional Budget Office on Friday forecast a $1.865 trillion U.S. budget deficit for fiscal 2025, largely flat with last year and indicating no major deterioration in government finances before President-elect Donald Trump takes office on Monday.

The United States is poised to add trillions of dollars to the national debt over the next decade as the mounting costs of social safety net programs and growing interest expenses dig the nation into a deeper fiscal hole,