The bill includes more than $140 billion in spending on the Trump administration's plan to crack down on illegal immigration. That includes $50 billion for completing the wall on the southern border, $45 billion for detention centers, $8 billion to hire more immigration officers, and $14 billion for deportations.

After the United States lost its last perfect credit rating on Friday, Republicans and Democrats responded by pointing fingers at each other.

House Republicans advanced the bill late Sunday, but budget analysts across the political spectrum warn that the proposal worsens the U.S. fiscal picture.

Goldman said tariffs could overshadow and boost to the economy provided by Republicans' sweeping fiscal package, which includes big tax and spending cuts.

Kevin Hassett anticipates strong economic growth with trade deals and tax cuts, dismissing Moody's credit rating downgrade due to fiscal deficits as backward-looking.

Republicans said that now is the right time to cut the state’s top income tax rate from 4.75% to 4.5%, which will allow Oklahomans to keep more of their money. They said will grow spending and increase Oklahoma’s competitiveness in luring new residents to the state.

The GOP tax bill could boost the highest-earning Americans' incomes while hurting low earners, according to findings from nonpartisan research groups.

Japanese Prime Minister Shigeru Ishiba rebuffed calls for tax cuts saying that the nation’s financial conditions are worse than Greece’s.