Global shares and the dollar rose on Wednesday after House Republicans advanced U.S. President Donald Trump's tax cut plans, while Treasury yields nudged higher after the previous day's sharp fall. The Republican-controlled U.

The budget bill calls for trillions in tax cuts and federal spending, which could impact health care, food programs and education.

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The Mississippi Senate has voted to pass a tax cut that reduces the state income tax and the sales tax on groceries while raising the gasoline tax, setting up negotiations with the House.

The U.S. Senate passed a Republican bill promoting President Donald Trump's immigration, energy and defense policies in the early hours of Friday morning, despite Trump's preference for a House of Representatives version of the bill that would include trillions of dollars in tax cuts.

Treasury Secretary Scott Bessent and congressional leaders will begin meeting weekly as Republicans look to shape a tax cut package with a year-end deadline, according to people familiar with the matter.

Some economists are anxious after senators passed a budget bill that does not include extending President Donald Trump's 2017 tax cuts.