Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump’s latest move on student loans pauses some of the harshest collection tools just as younger voters are voicing anger over affordability. A prominent watchdog has branded the maneuver “beyond ridiculous,” arguing that the temporary freeze is less a coherent policy than a political gambit aimed at Gen Z borrowers. The clash over…
Gavin Newsom built his political rise with the help of some of the richest people in California, and now those fortunes are at the center of a fierce fight over whether the state should tax extreme wealth to pay for health care. The proposed levy on billionaires has exposed a sharp divide inside the Democratic…
President Donald Trump is pitching a housing fix that invites Americans to crack open their retirement piggy banks to get a set of house keys. The idea is simple on the surface, letting people tap their 401(k) savings for a down payment without the usual early withdrawal penalty, but the reality of paying that money…
President Donald Trump has ordered a sweeping halt to some of the harshest collection tools used against borrowers who have fallen into default on federal student loans. The administration is freezing wage garnishment, tax refund seizures, and other involuntary collections, giving millions of struggling borrowers a temporary reprieve as the government rethinks how it pursues…
For households squeezed by higher prices at the supermarket, the promise of tax relief that effectively pays for months of food is not an abstraction, it is a line item in the family budget. The latest round of Trump-backed tax changes is being sold on the idea that roughly $4,000 in savings could offset about…
President Donald Trump is preparing a housing proposal that would let first-time buyers pull money from their 401(k) retirement accounts to cover a down payment, effectively turning long term savings into a bridge to homeownership. The idea, previewed by advisers ahead of a planned rollout at a global economic gathering, would mark a significant shift…
President Donald Trump has singled out Australia’s mandatory 12% “superannuation” savings rate as a potential template for reshaping how Americans build retirement wealth. If that idea moves from talking point to policy, it could fundamentally change how much flows into your 401(k), who controls those dollars, and what role Social Security plays in your future…
The Internal Revenue Service has now locked in the 2025 income tax brackets, standard deduction amounts, and key retirement contribution limits, setting the rules that will govern how much of your paycheck ultimately goes to Washington. The structure of the system is familiar, but the thresholds and deductions have shifted enough that a passive approach…
California Governor Gavin Newsom is trying to slam the brakes on a proposed wealth tax that targets the fortunes of the state’s richest residents, warning it could drive capital and companies out of the state. He has branded the measure “nonsense” and signaled he is prepared to fight it aggressively if it reaches voters, setting…
California’s richest residents are staring at a ballot proposal that would do something the state has never tried before, a one time levy on their net worth that supporters say could reshape public finances and critics warn could upend the state’s economic model. The plan, aimed squarely at billionaires, has already prompted some of the…