Global shares and the dollar rose on Wednesday after House Republicans advanced U.S. President Donald Trump's tax cut plans, while Treasury yields nudged higher after the previous day's sharp fall. The Republican-controlled U.

In theory, the budget, which kicks off the process of passing an extension of tax cuts enacted in 2017 and up to $2 trillion in spending cuts meant to partly offset them, could become law without significant cuts to Medicaid. But it won’t be easy.

House Republicans are working through disagreements to come together on a massive piece of legislation to advance President Donald Trump's agenda.

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Assembly Speaker Robin Vos vowed that Republicans will devise their own prison overhaul and seek a broad-based tax cut outside ofnthe budget process.

The Mississippi Senate has voted to pass a tax cut that reduces the state income tax and the sales tax on groceries while raising the gasoline tax, setting up negotiations with the House.

U.S. stock index futures edged higher on Wednesday, rebounding from steep losses in the previous sessions, as investors focused on the progress of a highly anticipated tax-cut plan through Congress and awaited crucial results from AI powerhouse Nvidia.

Treasury Secretary Scott Bessent and congressional leaders will begin meeting weekly as Republicans look to shape a tax cut package with a year-end deadline, according to people familiar with the matter.

Some economists are anxious after senators passed a budget bill that does not include extending President Donald Trump's 2017 tax cuts.