Latest in CBO projects deficits will sharply rise if Trump tax cuts made permanent
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CBO projects deficits will sharply rise if Trump tax cuts made permanent
New projections from Congress’s official legislative scorer show deficit levels will explode if the Trump tax cuts are made permanent and not simply extended. In response to an inquiry from House ...The Hill - 14h -
The state and local tax deduction could change amid Trump's tax cuts debate. Here's what to know
The state and local tax deduction could change in 2025 as lawmakers debate Trump's tax cuts. Here's what to know.CNBC - Mar. 12 -
State and local tax deduction could change amid Trump's tax cuts debate. Here's what to know.
As lawmakers debate President Donald Trump’s tax cuts, a key deduction could become a sticking point in 2025 tax negotiations, policy experts say.NBC News - Mar. 13 -
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Trump says Democrats would be to blame for shutdown, suggests it could delay tax cuts
President Trump said Thursday that Democrats would be to blame if government funding runs out this week and suggested a shutdown could delay GOP efforts to extend expiring tax cuts. "They do a ...The Hill - Mar. 13 -
The looming budget question: Will Medicaid cuts fund tax cuts?
Republicans should focus tax cuts on middle-income and lower-income households that would provide greater support to the economy than tax cuts for the wealthy.The Hill - Mar. 14 -
‘Not quite yet beautiful’: Republicans at odds over spending cuts after meeting Trump
Senate Republicans aren’t seeing eye to eye with their colleagues in the House over places to cut spending in order to pay for their extension of the 2017 Trump tax cuts. GOP members of the Senate ...The Hill - Mar. 14 -
Trump pick for Washington US attorney made derogatory and racist comments
Revealed: rhetoric by interim US attorney for DC includes falsely claiming Kamala Harris ‘self-identified’ as Black. Donald Trump ’s appointee as interim US attorney for the District of Columbia ...The Guardian - Mar. 11 -
UK looks at cutting digital services tax to avoid Trump tariffs
US ambassador Lord Peter Mandelson signals that a variety of options are on the tableFinancial Times - 13h -
UK looks at cutting digital services tax to avoid Trump tariffs
US ambassador Lord Peter Mandelson signals that a variety of options are on the tableFinancial Times - 13h -
‘Be careful about this’: Warnings abound as GOP considers writing off tax cuts
Republicans will discuss the accounting maneuver with President Donald Trump on Thursday.Politico - Mar. 12 -
Trump’s $5 million idea to reduce the deficit and reduce immigration fraud
Donald Trump and his pet program DOGE have been looking for ways to reduce the deficit. The president’s latest idea is a “gold card” visa program, which he claims would reduce deficit spending by ...The Hill - Mar. 10 -
Beware America’s fake fiscal conservatives
Republicans are indulging in budgetary chicanery in order to preserve Trump’s tax cutsFinancial Times - Mar. 13 -
Trump says McMahon made decisions on mass layoffs at Education Department
President Trump on Wednesday said Education Secretary Linda McMahon was behind the mass layoffs at the agency, not mentioning tech billionaire Elon Musk while defending the overhaul. “When we cut— ...The Hill - Mar. 12 -
The Papers: 'Starmer threatens Putin' and 'council tax soars'
Friday's front pages cover proposals for a Ukraine military deployment and council tax rises.BBC News - 1d -
NCAA tournament 2025: Selection committee chaired by North Carolina AD Bubba Cunningham explains how UNC made the field
North Carolina was the last team to make the field as a surprise to many who projected that the Tar Heels would miss the cut.Yahoo Sports - 5d -
Tate cuts almost a tenth of staff as it tackles deficit
UK arts institution tries to break even ahead of fundraising rounds designed to drive growthFinancial Times - Mar. 14 -
Trump made clear ‘Elon Musk is your partner’ in Cabinet meeting, says Commerce secretary
In an exclusive interview with Meet the Press, Commerce Sec. Howard Lutnick says that President Trump made clear to his Cabinet that Elon Musk is “a partner” in deciding who and what will be cut ...NBC News - Mar. 9 -
Trump economic adviser: 'First quarter is going to squeak into the positive category'
National Economic Council Director Kevin Hassett said Monday the “first quarter is going to squeak into the positive category,” even as anxieties around the economy rise nationwide. Stocks were ...The Hill - Mar. 10 -
Trump’s tariffs will be paid by the poor – while his tax cuts help the rich | Robert Reich
The math doesn’t work in the president’s economic promises, which will create a giant upward transfer of wealth. Donald Trump apparently believes his tariffs will bring so much money to the US ...The Guardian - 6d -
Trump sharply denies Musk China briefing, citing business conflicts
President Trump on Friday denied that his administration would show billionaire Elon Musk details of the Pentagon’s planning for a potential war with China, citing Musk’s various business dealings ...The Hill - 17h -
U.S. budget deficit surged in February, passing $1 trillion for year-to-date record
The U.S. debt and deficit problem worsened during President Donald Trump's first month in office.CNBC - Mar. 12 -
It’s ‘Maganomics’: Trump’s brash economic strategy is likely to end in crash or crisis | Jonathan Portes
Large tax cuts for the rich, import tariffs, and the competing interests of Republican nationalists and the techno-right is a dangerous combination. What connects Donald Trump’s approach to trade, ...The Guardian - Mar. 12 -
China’s Tax Revenue Declines as Its Leaders Brace for Trump’s Tariffs
Tax revenues have fallen, leaving the government with less money to help consumers or exporters as Beijing braces for President Trump’s tariffs.The New York Times - 21h -
Stock market falls sharply as investors fret Trump policies
Stocks continue to slide on Monday, following its worst week since September as president's protectionist policies darken economic view.CBS News - Mar. 10 -
GOP senator says 'tariffs is a tax' and Trump understands 'completely'
A GOP senator says President Trump's tariffs are a tax on American consumers, and Trump knows but the goal is to create open markets and long-term fairnessThe Hill - Mar. 13 -
How the Tax Bill Could Impact Your Wallet
Brackets may change. The standard deduction could fall. And President Trump will probably not remove taxes on Social Security income.The New York Times - Mar. 10 -
Behind Ontario's tax on electricity for the U.S.
Canada's Ontario province is charging a 25% tax on electricity sent to the U.S. as retaliation over President Trump's tariffs. CBS News' Shanelle Kaul spoke to Ontario's energy minister, Stephen ...CBS News - Mar. 10 -
Federal Reserve keeps interest rates steady as economic uncertainty rises
The Federal Reserve is holding interest rates steady as it weighs the impact of Trump’s tariffs and federal workforce cuts on inflation and the economy. The central bank warned that economic ...NBC News - 2d -
Fed cuts US growth forecast as Trump’s policies weigh on outlook
Central bank also lifts inflation projection as chair Jay Powell warns of tariff impactFinancial Times - 2d -
Trump says he considering cutting back on Canada tariffs as stock markets bounce
President Trump says he is considering reducing the new tariffs he announced on Canada's steel and aluminum as a response to Ontario's tax on electricity to the U.S. This comes as the stock markets ...CBS News - Mar. 11 -
The madness of the £100,000 childcare tax trap
With some parents requiring a 50 per cent pay rise to mitigate the effects of the threshold, the trap is zapping productivityFinancial Times - 1d -
Trump’s cuts to higher education are sacrificing America’s future
American colleges and universities will lose their global preeminence, innovation will suffer, future scientists, doctors, artists and philosophers will not get trained and potentially ...The Hill - Mar. 9 -
FirstFT: Musk’s government spending cuts fail to halt rising costs
Also in today’s newsletter, Putin’s frontline visit and a new FT film on Nvidia’s riseFinancial Times - Mar. 13 -
Johns Hopkins University to let more than 2,000 workers go after Trump's USAID cuts
Johns Hopkins University said it would eliminate more than 2,000 jobs after the Trump administration rescinded funding for thousands of international aid projects.NBC News - Mar. 15 -
Big Ten Tournament: UCLA storms back from double-digit deficit, beats JuJu Watkins, USC in championship game
With the win, the Bruins are now the projected No. 1 overall seed in the NCAA TournamentCBS Sports - Mar. 10 -
'Wealthy tax dodgers' could benefit from IRS layoffs, Democrats warn
As the IRS faces mass layoffs, Congressional Democrats warn those staffing cuts could undermine the agency’s progress in collecting unpaid funds from “wealthy tax dodgers.”NBC News - Mar. 11 -
Trump doesn't rule out recession, rising inflation
In an interview with Fox News, President Trump acknowledged inflation could continue to rise and wouldn't say whether or not he thinks the U.S. economy could fall into a recession. Nikole Killion ...CBS News - Mar. 9 -
Tax relief for cash Isa savers rose to £2.1bn last year
Cost to the UK Treasury rises 30-fold in two years due to rising interest rates and frozen thresholdsFinancial Times - 2d -
The key Project 2025 authors now staffing the Trump administration
Trump has invited some of the most prominent contributors to the Project 2025 playbook into his administration.NBC News - Mar. 12