U.S. Senate Republicans on Monday proposed a tax bill that would extend a clean fuel tax credit through 2031, but trim 20% of the value of the credit for biofuels made from feedstocks produced outside of the United States.

For many families, another key source of savings is the child tax credit. Senate Republicans proposed permanently increasing the credit available to parents, which would be set at $2,200 per child, beginning in the 2025 tax year. House Republicans had proposed to bump up the credit to $2,500, but only through 2028.

U.S. solar stocks dropped in premarket trading on Tuesday after a Senate panel proposed a full phase-out of solar and wind energy tax credits by 2028, as part of changes suggested to President Donald Trump's sweeping tax-cut and spending bill.

U.S. Senate Republicans on Monday unveiled proposed changes to President Donald Trump's sweeping tax-cut and spending bill that would make some business-related tax breaks permanent while making more limited the deduction for state and local income taxes,

WASHINGTON — Senate Republicans on Monday unveiled a draft of their vision for key tax and spending cuts, setting up an intra-party conflict over legislation enacting President Donald Trump’s agenda.