Almost all of the cuts that Republicans hope to pass in the coming weeks will last only until President Trump is set to leave office.

Gov. Kevin Stitt has joined Oklahoma legislative leaders in announcing a sweeping agreement on a nearly $12.6 billion state budget for the next fiscal year, one that features an income-tax cut Stitt long has hoped for during his six-plus years in office.

The House Ways and Means Committee voted 26-19 to approve the tax part of the legislation after a marathon markup meeting that lasted more than 17 hours.

The vote came after an all-night debate that saw at least one lawmaker fall asleep at his post. Republicans rejected a series of proposed changes by opposition Democrats, who blasted the bill as a wasteful giveaway to the wealthy that would shred health and food benefits for the poor and worsen the nation's financial standing.

Speaker Mike Johnson is trying to strike a delicate balance between blue-state Republicans and conservative hardliners on a sprawling bill for Trump's agenda.

Republicans' “one big beautiful bill” would eliminate taxes on tips and overtime, give new cuts to seniors, and make interest on certain auto loans deductible.

Oklahoma leaders announce a budget deal aimed at tax reduction and investments in public safety, education, and infrastructure.

Germany's council of tax experts expects 81.2 billion euros ($90.94 billion) less in tax revenues for the German state as a whole in the 2025-2029 period compared with the October forecast, updated projections showed on Thursday.