An ambitious House bill to cut taxes by hundreds of billions of dollars and pay for part of it by slashing Medicaid spending faces a rocky path in the Senate, where Republican lawmakers warn the

In addition to raising the endowment tax rate for the richest schools to as much as 21%, the bill hits schools with heavy foreign student enrollment.

It targets several clean energy tax credits implemented under the Democratic reconciliation bill passed under President Joe Biden, including eliminating tax credits for electric vehicles, credits for clean energy home investments, and sunsets tax credits for certain types of renewable energy production.

In an effort to soften the proposal, Democrats issued a number of energy-related amendments countering Republican provisions aimed at slashing climate funding.

New York suburban lawmakers have been leading the fight to win a tax break for their constituents.

President Trump has threatened to revoke tax-exempt status for groups that don’t abide by his directives or agree with his views.

The rule ban would benefit many of the nation’s largest tech companies. Meanwhile, at least 45 states and Puerto Rico have introduced 550 AI bills.

It is unclear whether the House bill could come back as an amendment to another measure before the legislative session ends June 2.