TAG · Economy
Acting Attorney General Todd Blanche told the Senate Judiciary Committee on Wednesday that a $1.8 billion "anti-weaponization" fund created as part of an IRS settlement with President Trump is dead. The fund has become a sticking point for…
2026-07-15 · 3 MIN READA federal judge ruled Monday that President Trump and his family acted in bad faith in bringing a $10 billion lawsuit against the Internal Revenue Service. In a 56-page order, Judge Kathleen Williams referred Trump's lawyer Alejandro Brito…
2026-07-13 · 5 MIN READThe White House marked the launch of Trump Accounts, a new tax-advantaged savings program for children, with the ringing of the New York Stock Exchange opening bell in the Oval Office this week. The accounts, available to all US children…
2026-07-11 · 3 MIN READLocal governments across Florida are freezing hiring, planning service cuts, and weighing fee increases months before voters decide on a November ballot measure that would dramatically reduce property-tax revenue. The proposed…
2026-07-08 · 3 MIN READKenneth Kies, the Treasury Department's top tax-policy official, warned last month that officials 'don't like' the practice of trust stacking, which multiplies the popular Qualified Small Business Stock capital gains exclusion by…
2026-06-29 · 4 MIN READEduardo Porter, a journalist focused on economics and politics, wrote in an analysis published Sunday that Elon Musk's ascension to trillionaire status following SpaceX's public offering underscores the United States' persistent and…
2026-06-21 · 3 MIN READThe union that proposed a 5% tax on California's billionaires said Thursday it would withdraw the measure from the November ballot if Gov. Gavin Newsom supports a 2% version of the tax instead, in an effort to avert steep cuts to state…
2026-06-19 · 4 MIN READThe California Billionaire Tax Act has secured enough signatures to qualify for the November ballot, state officials announced Wednesday, advancing a proposal that would impose a one-time 5% wealth tax on residents worth more than $1…
2026-06-18 · 3 MIN READReform UK has announced a policy that would tax companies for hiring foreign workers while reducing National Insurance contributions for their British staff, a proposal the party says would put "British workers first, migrant workers…
2026-06-15 · 4 MIN READThe upcoming public offerings from SpaceX, Anthropic and OpenAI are expected to create a new wave of millionaires and billionaires, whose charitable giving could pour tens of billions of dollars into nonprofit organizations, according to…
2026-06-14 · 3 MIN READTeachers in a Louisiana school district will receive bonuses of as much as $50,935 this year, the Richland Parish School Board announced, funded by a surge in sales tax revenue linked to Meta Platforms' Hyperion data center construction…
2026-06-12 · 3 MIN READThe Justice Department told Congress this week it is abandoning plans for a $1.8 billion fund to compensate political allies of President Donald Trump, but the department has not reversed a separate agreement that bars the Internal Revenue…
2026-06-10 · 3 MIN READChanges to U.S. tariffs imposed under Section 232 of the Trade Expansion Act are sharply reducing the profitability of South Korean small and medium-sized manufacturers, according to an industry survey released Sunday. The Korea Federation…
2026-06-21 · 5 MIN READThe Taxpayer Inspector General reported Monday that the IRS provided addresses for nearly 47,000 people to U.S. Immigration and Customs Enforcement under a data-sharing agreement, but that the matching process was inconsistent and…
2026-06-08 · 3 MIN READ
A group of prominent British chefs including Tom Kerridge, Thomasina Miers, and Tommy Banks have publicly endorsed Andy Burnham for prime minister after the Labour candidate pledged to cut VAT on hospitality from 20% to 10%.
2026-06-08 · 3 MIN READFormer U.S. Sen. Bob Packwood, an Oregon Republican who was forced from office in 1995 after the Senate ethics committee investigated allegations of sexual misconduct by more than two dozen women, has died at age 93. Packwood's death on…
2026-06-07 · 3 MIN READGraham Platner, a military combat veteran who was a political unknown less than a year ago, has surged to the front of Maine’s Democratic Senate primary race on a platform of taxing the wealthy and offering government-funded healthcare to…
2026-06-07 · 5 MIN READSteve Hilton, a British-born Republican and former Fox News host, is banking on California's unusual primary rules and widespread voter discontent to advance in the governor's race, with early returns showing him in a tight battle for…
2026-06-06 · 3 MIN READBillionaire father-and-son hoteliers Robert and Blake Rowling are waging a takeover fight for the Greenbrier, the historic West Virginia resort owned by U.S. Sen. Jim Justice. The Rowlings, who own Omni Hotels & Resorts, paid $289 million…
2026-06-06 · 5 MIN READThe former town manager of Pilot Mountain, North Carolina, was indicted on May 11 on a felony embezzlement charge for allegedly using taxpayer money to pay for personal expenses including hotel stays, restaurant meals and ammunition,…
2026-06-05 · 4 MIN READU.S. income inequality has widened significantly over the past five decades, with households at the 90th percentile earning 12.6 times as much as those at the 10th percentile in 2024, up from 8.7 times in 1976, according to Census Bureau…
2026-06-04 · 3 MIN READBen Black, the Senate-confirmed head of the U.S. International Development Finance Corporation (DFC), had years of personal and business interactions with the late convicted sex offender Jeffrey Epstein, according to emails released by the…
2026-06-03 · 4 MIN READConservative leader Kemi Badenoch accused Prime Minister Sir Keir Starmer on Wednesday of abandoning welfare reform, pointing to the absence of a welfare bill from the government's legislative agenda and citing leaked private messages from…
2026-06-03 · 3 MIN READFlorida lawmakers on Tuesday approved a constitutional amendment for the November ballot that would dramatically overhaul the state’s property-tax system, significantly reducing the tax bill for many homeowners and creating potential…
2026-06-02 · 3 MIN READA family-owned property group that sells temporary housing to local councils for homeless people is part of a broader business network accused of exploiting loopholes to avoid millions in property taxes, according to a Guardian…
2026-05-31 · 3 MIN READOhio Gov. Mike DeWine suspended a sales-tax exemption for data centers on Wednesday, citing projections that show the cost of the break has soared far beyond original estimates, as the AI-driven data center boom intensifies scrutiny of…
2026-05-28 · 3 MIN READPresident Donald Trump said Wednesday he may release his current tax returns after a legal team agreement with the Justice Department. The deal would permanently drop tax claims against Trump, his family and associates and would bar the…
2026-05-22 · 3 MIN READEl gobierno de Estados Unidos aceptó retirar de forma permanente sus reclamos fiscales contra el presidente Donald Trump como parte de un acuerdo para poner fin a una demanda que él presentó contra el IRS por la filtración de sus…
2026-05-22 · 4 MIN READOhio’s largest tax break for data centers has cost the state far more than forecast, according to new figures shared by the Ohio Department of Taxation. In 2024, the sales tax exemption cost about $554.9 million, the department said; in…
2026-05-22 · 3 MIN READThe cost of Ohio’s sales tax exemption for data centers reached $1.6 billion in 2025, more than 11 times what state budget forecasters had projected, newly released data from the Ohio Department of Taxation show. The exemption, which…
2026-05-21 · 4 MIN READOhio’s sales-tax exemption for large data centers cost the state $1.6 billion in lost revenue in 2025, according to updated “actuals” shared by the Ohio Department of Taxation. The estimate is far higher than what state tax forecasters…
2026-05-21 · 3 MIN READOregon voters on Tuesday rejected a gas tax increase and related fee changes passed last year by Democratic lawmakers. The outcome, decided through a referendum, was widely framed as a win for Republicans who put the measures to voters as…
2026-05-20 · 3 MIN READEl gobierno de Estados Unidos retirará “de forma permanente” sus reclamos fiscales contra el presidente Donald Trump como parte de un acuerdo ligado a una demanda de 10.000 millones de dólares por filtraciones de declaraciones fiscales,…
2026-05-20 · 4 MIN READPresident Donald Trump said Wednesday that he may release his current tax returns after his legal team reached a deal with the Justice Department that includes permanently dropping certain tax claims against him and others. The Justice…
2026-05-20 · 4 MIN READOregon voters went to the polls Tuesday to choose party nominees for governor, U.S. Senate and House seats, and to decide a ballot measure that would raise gas taxes and vehicle fees to fund transportation infrastructure projects.…
2026-05-19 · 3 MIN READThe Justice Department announced the creation of a $1.776 billion fund Monday to compensate allies of President Donald Trump who claim they were targeted for prosecution for political purposes, resolving his lawsuit against the Internal…
2026-05-19 · 3 MIN READThe United States government has permanently withdrawn tax claims against President Donald Trump, his children, and the Trump Organization as part of a settlement resolving a $10 billion lawsuit over the leak of Trump's tax returns. The…
2026-05-19 · 3 MIN READRep. Thomas Massie of Kentucky lost his Republican primary Tuesday to Ed Gallrein, a challenger endorsed by President Donald Trump, in what the Associated Press described as the most expensive U.S. House primary in history.
2026-05-19 · 3 MIN READOregon voters on Tuesday rejected a gas tax increase and related fee changes that Democratic lawmakers passed last year, a result Republicans portrayed as a rebuke timed amid rising pump prices from the war with Iran. Democrats’ Gov. Tina…
2026-05-19 · 3 MIN READOn May 19, 2026, Oregon voters rejected a 6‑cent‑per‑gallon gas‑tax increase and associated fees that Democratic lawmakers had passed the previous year, delivering a victory for Republicans who had mounted a referendum campaign amid…
2026-05-18 · 5 MIN READThe Ohio Supreme Court agreed Tuesday to decide whether Cuyahoga County violated the state constitution by seizing homes over small tax debts and keeping the surplus equity — a practice a class-action lawsuit calls widespread and…
2026-05-15 · 3 MIN READThe Ohio Supreme Court on May 14 agreed to hear a challenge brought by three former homeowners who say Cuyahoga County took the “surplus equity” after foreclosing on their properties for unpaid property taxes. The plaintiffs’ class action…
2026-05-15 · 4 MIN READCalifornia Gov. Gavin Newsom on Thursday proposed a revised $350 billion state budget for his final year in office, turning a projected deficit into a balanced plan driven by a revenue windfall from the booming stock market and artificial…
2026-05-15 · 3 MIN READPresident Donald Trump wants to suspend the federal gasoline tax as U.S. fuel prices strain household budgets during the war with Iran. Lawmakers have discussed legislation that could pause the tax through Oct. 1, but economists say…
2026-05-14 · 3 MIN READPresident Donald Trump is pressing Congress to suspend the federal gasoline tax as the war with Iran keeps U.S. pump prices near $4.50 a gallon, but analysts say any savings for drivers would be modest and the move could drain billions…
2026-05-14 · 3 MIN READPresident Donald Trump said Monday he will move to suspend the federal gasoline tax, a step he cannot take alone, as surging fuel prices driven by the Iran war pressure American households and raise alarms among Republicans ahead of the…
2026-05-10 · 4 MIN READOregon voters will decide whether to repeal a gas-tax increase in the May 19 primary, a referendum that pits the state's need for road-repair funding against the highest gasoline prices since the Iran war began. The Democratic-controlled…
2026-05-10 · 3 MIN READPresident Donald Trump said Monday that he would move to suspend the federal gasoline tax to help Americans deal with surging fuel prices tied to the Iran war. But the Associated Press reported that he cannot suspend the tax on his own and…
2026-05-10 · 3 MIN READOregon Democrats’ gas tax increase is headed to voters on Oregon’s May 19 primary ballot, with Republicans pushing a referendum just as the war with Iran has driven up pump prices across the United States. The measure, approved by Oregon’s…
2026-05-10 · 3 MIN READGov. Kathy Hochul announced a tentative budget agreement Thursday that would impose a new recurring tax on luxury second homes in New York City — but the deal does not include the broad income‑tax increases on the wealthy that Mayor Zohran…
2026-05-08 · 4 MIN READNew York is expected to impose a new tax on multimillion-dollar second homes in New York City, under a tentative agreement announced by Gov. Kathy Hochul. The proposal would target so-called pied-à-terres worth more than $5 million and is…
2026-05-08 · 3 MIN READTens of millions of taxpayers penalized by the IRS during the coronavirus pandemic for filing late or failing to pay may qualify for penalty refunds or abatements, the national taxpayer advocate said Tuesday. Relief is not automatic, and…
2026-05-07 · 3 MIN READThe IRS may owe a refund or require the termination or abatement of certain penalties for some taxpayers penalized for filing late, failing to pay, or missing estimated tax payments during the COVID-19 period. A federal court decision…
2026-05-06 · 3 MIN READThe Service Employees International Union Healthcare Workers West says a California ballot initiative seeking a temporary 5% tax on billionaires has collected enough signatures to qualify for the November ballot. Backers said the tax would…
2026-04-28 · 3 MIN READThousands of survivors from the 2025 Eaton Fire in Altadena, California, who accepted settlement payments from the utility accused of sparking the disaster now face federal tax bills that could consume significant portions of their funds.…
2026-04-20 · 4 MIN READA refund system for businesses to claim refunds for Trump administration tariffs that the U.S. Supreme Court struck down launched Monday, with importers and their brokers able to begin submitting claims through an online portal operated by…
2026-04-19 · 3 MIN READPresident Donald Trump presented renderings of a $400 million White House ballroom featuring hand-carved Corinthian columns on Air Force One, drawing Democratic comparisons to Marie Antoinette and concerns among some Republicans that his…
2026-04-17 · 3 MIN READPresident Donald Trump is making a rare trip to Las Vegas for a midterm-election message focused on tax cuts he signed into law last year, including a proposal he says makes tips tax-free. In interviews and remarks in Nevada, he and…
2026-04-16 · 3 MIN READNew York City Mayor Zohran Mamdani earned $1,643 in music royalties from his early rap career in 2025, according to tax filings shared with reporters Thursday. The 34-year-old Democrat, who performed under the names "Young Cardamom" and…
2026-04-16 · 4 MIN READA longtime Drug Enforcement Administration informant was sentenced Wednesday in Austin, Texas, to time served after pleading guilty to failing to report $3.8 million in DEA payments on his federal tax returns. Andres Zapata, 48, a…
2026-04-16 · 5 MIN READA ballot proposal that would reduce Massachusetts' state income tax rate from 5% to 4% has pitted business coalitions against union leaders and Democratic lawmakers, with both sides projecting sharply different consequences for the state's…
2026-04-15 · 5 MIN READNew York Gov. Kathy Hochul proposed Wednesday allowing New York City to impose a tax surcharge on second homes worth more than $5 million, a measure her office projected could raise at least $500 million annually as Mayor Zohran Mamdani…
2026-04-15 · 4 MIN READWednesday, April 15, is the federal tax filing deadline for 2025 returns in the United States, and taxpayers who cannot finish in time have until midnight to request a six-month extension that pushes the filing due date to Oct. 15, the…
2026-04-15 · 3 MIN READWASHINGTON — More than 53 million Americans filed returns claiming at least one new provision from Republicans' tax and spending law by Wednesday's Tax Day deadline, according to a Treasury Department official who spoke on condition of…
2026-04-15 · 4 MIN READPresident Donald Trump said he tipped a DoorDash driver $100 after the driver delivered McDonald’s to the Oval Office on Monday, part of an effort by the White House to highlight a federal tax break for tips ahead of Tax Day. Trump made…
2026-04-14 · 3 MIN READIrish Prime Minister Micheál Martin said Sunday that Ireland will offer new fuel tax cuts in a bid to end blockades and protests over soaring pump prices that have roiled supply of fuel to stations across the country. Martin said the…
2026-04-13 · 3 MIN READThe federal tax-filing deadline is Wednesday, when millions of Americans are expected to claim new federal income tax breaks for tips and overtime wages available under a wide-ranging tax law enacted by President Donald Trump. But workers…
2026-04-13 · 3 MIN READTax refunds this season are up 24% compared with the four-year average of refunds before President Donald Trump took office, the Trump administration said Thursday, citing tax legislation signed into law last year. The Internal Revenue…
2026-04-10 · 3 MIN READSome state leaders have floated temporarily suspending or reducing motor fuel taxes as gasoline prices rise amid the war in Iran, but several states are hesitant to cut the revenue that helps pay for roads and bridges. Georgia and Utah…
2026-04-02 · 3 MIN READMaine’s real estate transfer tax, which funds affordable housing initiatives, is projected to rise in the coming years, and lawmakers are now debating whether to steer more of the money toward homeless shelters. The tax rate changed for…
2026-04-02 · 3 MIN READGas prices in the U.S. have been climbing as the war in Iran affects oil markets, and some lawmakers are pushing to suspend the federal gasoline tax as a way to lower costs for drivers. President Donald Trump said he has “thought about”…
2026-03-28 · 4 MIN READThe Federal Aviation Administration is seeking detailed records from California on how the state spends jet-fuel tax revenue for airports, according to a letter sent March 5. The dispute, which has stretched for more than a decade, centers…
2026-03-25 · 3 MIN READVoters’ concerns about affordability are pushing some Democrats to embrace tax-cut proposals, including Sen. Chris Van Hollen’s plan to end the federal income tax for individuals making $46,000 or less and Sen. Cory Booker’s idea to exempt…
2026-03-24 · 3 MIN READGeorgia became the first U.S. state to suspend its gas and diesel fuel taxes for 60 days after the war in the Middle East sent pump prices higher, Gov. Brian Kemp signed the measure on Friday. The tax break cuts Georgia’s…
2026-03-21 · 4 MIN READMichigan’s Air Pollution Control Exemption, designed to reward pollution-reduction equipment, has cost local governments billions in property-tax revenue over the last decade with limited state follow-up, an investigation found. The…
2026-03-21 · 3 MIN READMichigan’s Air Pollution Control Exemption law has provided long-running property and sales tax breaks for pollution control equipment, a system that leaves many local governments with little information about costs and limited say over…
2026-03-21 · 4 MIN READMillions more Americans may donate to nonprofits after new tax deductions take effect, but the same changes could also reduce the total amount of charitable giving, according to a new report by Indiana University’s Lilly Family School of…
2026-03-18 · 3 MIN READTax season is approaching, and Morningstar’s Christine Benz recommends planning early with a checklist, deciding whether to itemize or take the standard deduction, organizing investment paperwork, and making retirement and health savings…
2026-03-16 · 3 MIN READHawaiʻi lawmakers are considering a bill to define what qualifies as a “farm,” aiming to separate bona fide agricultural operations from landowners seeking tax benefits. The proposal would direct major state agriculture agencies to use a…
2026-03-15 · 3 MIN READ
