House Republican tax bill passes ‘SALT’ deduction cap of $40,000. Here’s who benefits

House Ways and Means Committee Chairman Jason Smith (R-MO) holds a news conference before a markup hearing in the Longworth House Building on Capitol Hill on May 13, 2025 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images House lawmakers on Thursday morning passed changes for the federal deduction for state and…

Exclusive look at the making of High NA, ASML’s new $400 million chipmaking colossus

Behind highly secured doors in a giant lab in the Netherlands, there’s a machine that’s transforming how microchips are made. ASML spent nearly a decade developing High NA, which stands for high numerical aperture. With a price tag of more than $400 million, it’s the world’s most advanced and expensive chipmaking machine.  CNBC went to…

Trump tax bill clears the House in a victory for Republicans, advances to the Senate

WASHINGTON — Republicans in the U.S. House of Representatives came together early Thursday to pass President Donald Trump‘s “big, beautiful” tax bill out of the chamber on a narrow vote. Every Democrat on the floor voted no, as did Republican Reps. Warren Davidson of Ohio and Thomas Massie of Kentucky. Rep. Andy Harris, R-Md., who…

Investors dump bonds globally as U.S. credit downgrade, Trump’s tax bill ignite fiscal worries

The Marriner S. Eccles Federal Reserve building in Washington, D.C. Stefani Reynolds | Bloomberg Creative Photos | Getty Images A sell-off in global bonds is accelerating as Moody’s downgrade of U.S. credit rating and President Donald Trump’s tax bill has brought to fore investors’ fiscal concerns globally. Events such as credit rating downgrades or budgets…

Nvidia’s Jensen Huang thinks U.S. chip curbs failed — and he’s not alone

Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference in Taipei on May 21, 2025. I-hwa Cheng | Afp | Getty Images Replacing Nvidia is a tall order. While Chinese competitors are years behind the company’s cutting-edge technology, many analysts and insiders warn they are catching up, thanks to U.S. export…