Money, Wealth & Power—A Daily Look at the Financial World
Federal tax rules are shifting again in 2026, and this time the changes are more likely to nudge your take home pay up than down. The Internal Revenue Service is lifting the income thresholds for each tax bracket and updating how much employers withhold from paychecks, so many workers will see a modest bump in…
The global push for a 15 percent minimum tax on large corporations has survived a turbulent renegotiation, but the final compromise leaves the United States on the outside of the core enforcement regime. While more than 145 countries have agreed to move ahead, President Donald Trump has secured an exemption that keeps U.S.-headquartered multinationals under…
Side hustlers just got a rare dose of simplicity from Washington. A recent tax change raises the bar for when payment platforms and clients must send 1099 forms, which means fewer surprise tax documents for people making extra cash from gigs or online sales. The income is still taxable, but the paperwork burden is lighter…
Ron DeSantis has turned a dry topic, property tax policy, into a populist rallying cry by branding annual tax bills as “rent to the government” and warning that homeowners are being treated like ATMs. His push to wipe out property taxes on primary residences in Florida is no longer a thought experiment, it is a…
California’s latest push to tax extreme wealth has collided head‑on with a familiar Bay Area anxiety: what happens if the people who fund so much of the region’s economy simply leave. As state leaders float a new levy on billionaires, San Jose Mayor Matt Mahan has emerged as one of the most prominent local voices…
California’s latest effort to tax extreme wealth has triggered a very specific warning from the state’s tech elite: a 5 percent levy on billionaire fortunes could prompt an exodus that pulls hundreds of billions of dollars in assets out of the state. The proposal, framed by supporters as a way to tap concentrated fortunes for…
The new federal break for older taxpayers is not a “retirement tax credit” at all, but a sizable extra deduction that trims taxable income for qualifying seniors. Instead of directly cutting your tax bill dollar for dollar, it lets you subtract up to $6,000 from the income the IRS can tax, on top of the…
Electric vehicles are starting to reshape the economics of American roads, not just the technology under the hood. As drivers buy less gasoline, the fuel taxes that have quietly funded highways for generations are eroding, leaving state budgets scrambling to keep pavement from crumbling. The race is now on to replace that money without slowing…
Millions of Americans who drive for work or recently financed a car are heading into tax season with a very different set of rules than they had just a year ago. The Internal Revenue Service has raised the standard mileage rate, tightened some reporting requirements, and started phasing in a new deduction for car loan…
Changes to how the U.S. mail is stamped are quietly rewriting the rules for anyone who relies on a postmark to prove they met a deadline. Instead of reflecting the day you hand a letter to the Postal Service, the official date on the envelope is shifting to when that piece of mail is processed…