The U.S. dollar fell on Wednesday, extending a two-day slide against major peers, as President Donald Trump failed to convince Republican holdouts to back his sweeping tax bill. Traders were also wary of U.

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.

The agreement marks a big win for SALT cap crusaders like Rep. Mike Lawler (R-NY) and others who have demanded the SALT cap be lifted as part of reconciliation.

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

The greatest benefits would go to high-income households, while low-income families would see a much more modest boost, analyses show.

The U.S. dollar edged lower on Wednesday, extending a two-day slide against major peers, as President Donald Trump failed to convince Republican holdouts to back his sweeping tax bill.

WASHINGTON—President Trump’s multitrillion-dollar economic agenda hinges on fractious GOP lawmakers who are at odds over the details of a tax package that could determine their fate in next year’s midterm elections.

Nonpartisan research groups studying the proposal have estimated that it would add more than $2.5 trillion to the federal debt—currently at an all-time high of $36.8 trillion—over the next decade. Despite those projections,