Republican tax bill could cost $3.8 trillion over 10 years as its tax cuts surpass spending reductions, according to one analysis.

The U.S. government posted a $258 billion budget surplus for April, up 23%, or about $49 billion, from a year earlier, reflecting strong tax receipts in the final month of the tax season and record collections of import duties,

The Committee for a Responsible Federal Budget, a nonpartisan independent public policy organization, projects that a cumulative $3.27 trillion will be added to the deficit from 2025 through 2034 based on a preliminary analysis of the House reconciliation bill.

Without substantive corrective fiscal measures, the US general government debt ratio will reach 133% of GDP by 2030, exceeding Scope forecasts for France (122%) and the UK (111%).

Treasury Secretary Scott Bessent downplayed the U.S. credit downgrade as a "lagging indicator" of economic and fiscal conditions, after Moody's took the U.S. off its top tier.

The U.S. government posted a $258 billion budget surplus for April, up 23% from a year earlier, reflecting strong tax receipts in the final month of the tax season and surging collections of import duties,

China’s fiscal stimulus pushed its four-month budget deficit to a record high, as the government ramped up support for the economy during an escalation in its trade conflict with the US.The broad deficit reached 2.

House Republicans advanced the bill late Sunday, but budget analysts across the political spectrum warn that the proposal worsens the U.S. fiscal picture