WASHINGTON—The first public version of Republicans’ long-awaited tax bill aims to put more money in Americans’ pockets quickly in early 2026, extending President Trump’s expiring tax cuts and adding some new twists that would boost many tax refunds next year and increase take-home pay.

After flirting with raising the tax rate for the wealthiest earners, President Donald Trump is backing off that call — sort of

Legislation introduced by House Republicans late Sunday would slash Medicaid spending significantly by imposing new restrictions on beneficiaries like work requirements and more frequent