The bill passed by the House would raise the standard deduction by up to $4,000 for those 65 and over, starting in 2025 to 2028.

Elon Musk doesn't like Trump's "big beautiful" tax bill. Here's what top economists have to say about what they think the sweeping budget proposal will do.

Top Republicans have brushed aside concerns that Donald Trump’s landmark tax bill risks being derailed by his extraordinary clash with Elon Musk as the party closes ranks around the US president. The two men fell out in dramatic fashion on Thursday after a spat triggered by disagreements over the president’s “big beautiful bill” erupted into an all out feud that some feared could scupper the legislation.