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Colorado breaking news, sports, business, weather, entertainment.
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    Senate Republicans are forging their own path on the effort to overhaul the U.S. tax code, preparing a plan that would delay President Trump's top business priority and blow up House Republicans' carefully crafted compromise on state and local tax deductions.

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    Mishoe is the type of person - affluent enough for an annual family vacation but not enough for a boat or second home - who potentially stands to lose under the Republican framework for changing the country's tax code, which threatens to eliminate or deeply cut deductions for mortgage and student loan interest and state and local taxes.

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    Senate Republicans revealed the details of their sweeping tax legislation Thursday, including a one-year delay in plans for a major corporate tax cut despite strident opposition from the White House and others in their own party. Their bill would leave the prized mortgage interest deduction untouched for homeowners in a concession to the powerful real estate lobby but would ignore a House compromise on the hot-button issue of state and local tax deductions.

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    A comparison of a Republican-written tax bill approved Thursday by the House Ways and Means Committee and another being proposed by GOP members of the Senate Finance Committee:

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    In the Hamptons, brokers and buyers already have a workaround for a tax-plan provision under consideration in Congress that would take away the mortgage-interest deduction for second homes: Become landlords instead of owners.

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    Senate Republicans have run into a problem with their proposed tax cuts: Under Senate rules, the cuts would expire after 10 years.

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    One powerful group was noticeably scarce from the flurry of activity inside the congressional committee room where Republicans recently took a big step toward passing their sweeping tax overhaul.

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    Congressional Republicans face critical decisions this week as they move within striking distance on a major legislative package to cut taxes, an achievement party leaders say is crucial to stabilizing the GOP's recent political tailspin ahead of next year's elections.

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    The U.S. Senate's recently released tax bill preserves key wind construction tax credits that are at risk in the House's version, which threw the industry into a tailspin when it was released at the start of November as analysts forecast a deep cut in new wind power.

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    President Donald Trump on Monday barged into congressional Republicans' carefully calibrated work on revamping the nation's tax code, calling for a steeper tax cut for wealthy Americans and pressing to add a contentious health care change to the mix.

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    Promoted as needed relief for the middle class, the Senate Republican tax overhaul actually would increase taxes for some 13.8 million moderate-income American households, a nonpartisan analysis showed Monday.

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    Senate Republican leaders said Tuesday that they would seek a repeal of the Affordable Care Act's individual mandate through their tax bill, a major change of strategy as they try to accomplish two of their top domestic priorities in a single piece of legislation.

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    Wisconsin's Ron Johnson on Wednesday became the first Republican senator to say he opposes his party's tax bill, signaling potential problems for GOP leaders.

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    Among the Republicans in Colorado’s congressional delegation, U.S. Rep. Ken Buck is the one most likely to oppose a far-reaching tax plan that’s scheduled for a vote Thursday in the U.S. House.

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    Last-minute conversations with President Donald Trump and House Speaker Paul Ryan helped persuade U.S. Rep. Ken Buck to vote with most of his Republican colleagues in support of a broad tax bill, the Colorado lawmaker said Thursday after the 227-205 vote.

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    President Donald Trump and GOP House Speaker Paul Ryan, Wis., won a major victory as the House passed the tax bill Thursday, the central piece of the Republican plan to boost the U.S. economy. No Democrats voted for the bill. Ryan could lose 22 GOP votes, but in the end, he only lost 13.

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    Treasury Secretary Steve Mnuchin has claimed that most of the savings outlined in the House tax-cut bill would go to workers, in the form of higher wages, CSU Prof. Steven Pressman says he's wrong.

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    The ultra-wealthy, especially those with dynastic businesses — like President Donald Trump and his family — do very well under a major Republican tax bill moving in the Senate, as they do under legislation passed this week by the House.