Money, Wealth & Power—A Daily Look at the Financial World
The Department of Homeland Security reversed its plan to suspend TSA PreCheck during the ongoing government shutdown, backing down after swift backlash from travelers, airlines, and members of Congress. The abrupt U-turn, which came roughly one week into the funding lapse, left Global Entry users without the same relief and raised pointed questions about whether…
Ohio Governor Mike DeWine has warned that a proposed constitutional amendment to eliminate property taxes statewide could lead to a dramatic increase in the state sales tax to cover the resulting revenue gap. The warning follows a formal step forward for the ballot initiative: Ohio Attorney General Dave Yost accepted the petition title and summary…
Oil prices held relatively flat on Friday as President Donald Trump publicly acknowledged that he is weighing a limited military strike on Iran, even as Tehran signaled it would soon present a nuclear proposal to Washington. The simultaneous threat of force and diplomatic outreach created a tug-of-war in energy markets, with crude benchmarks climbing modestly…
A top defense giant with extensive operations in Virginia is drawing fresh attention after revealing a bold strategic shift as a new political era begins in the state. Democratic Gov. Abigail Spanberger took office on January 17, 2026, and immediately signed ten executive orders focused on affordability, signaling a shift in state priorities that could…
The Florida House of Representatives voted 80-30 on February 19, 2026, to pass a joint resolution that would exempt homestead properties from certain non-school ad valorem (property) taxes, if it is ultimately approved by the Senate and voters. Designated CS/CS/HJR 203, the measure proposes a constitutional amendment to exempt homesteads from all non-school ad valorem…
The Supreme Court is preparing to decide whether President Trump can use emergency powers to impose sweeping tariffs on imports from China, Mexico, and dozens of other countries, and the outcome could trigger one of the most disruptive market events in years. The case, Learning Resources, Inc. v. Trump (No. 24-1287), challenges the legal foundation…
Congress has blocked the District of Columbia from opting out of federal tax breaks on tips, overtime pay, and a senior standard deduction, forcing the city to conform to changes enacted under the One, Big, Beautiful Bill. The President signed H.J.Res. 142 into law, nullifying the D.C. Income and Franchise Tax Conformity Revision Temporary Amendment…
Republican Rep. Kevin Kiley of California introduced federal legislation on Feb. 18 that would bar states from imposing retroactive taxes on the assets of former residents, a direct strike at the core enforcement mechanism of a proposed California ballot measure that would levy a one-time tax on billionaires. The bill, called the Keep Jobs in…
Prime Minister Mark Carney announced on February 17, 2026, that Canada will pour hundreds of billions of dollars into defense spending, with a deliberate emphasis on building domestic manufacturing capacity and reducing the country’s deep reliance on American military suppliers. The plan represents one of the most significant defense procurement shifts in Canadian history, aiming…
Wisconsin Republican lawmakers have introduced Senate Bill 1 at the start of the 2025 legislative session, targeting property tax relief through an expanded school levy tax credit. The move follows the tax and University of Wisconsin funding debate in the state’s 2025-27 budget cycle, raising questions about how additional property tax relief would be paid…