To attract buyers for the bonds that will finance that deficit, the federal government will have to pay higher interest rates.

Republican tax bill could cost $3.8 trillion over 10 years as its tax cuts surpass spending reductions, according to one analysis.

The S&P 500 slipped in volatile trading and Treasury yields rose on Wednesday as U.S. President Donald Trump's proposed tax-cut law faced a rare overnight hearing aimed at influencing Republican holdouts opposed to the bill's passage.

The Republican budget bill proposed by the House of Representatives could enforce major changes to Medicaid and SNAP, but there are also significant updates to federal student loans included in the bill.

The unexpected voice vote comes as congressional Republicans work to pass legislation that would include a similar provision.

President Donald Trump urged House Republicans to stop negotiating and pass his sweeping filibuster-proof reconciliation bill Tuesday.

U.S. stock index futures slipped and Treasury yields surged on Wednesday amid growing fiscal anxiety as investors focused on discussions around U.S. President Donald Trump's tax-cut bill that has been plagued by Republican infighting.

President Donald Trump is growing frustrated with demands to significantly boost the cap on the state and local tax deduction, according to a senior administration official, signaling a deadlock as Republicans aim to quickly pass a giant tax-cut bill.