Money, Wealth & Power—A Daily Look at the Financial World
At the 2026 Munich Security Conference, Rep. Alexandria Ocasio-Cortez pitched a progressive economic vision on a global stage, only to face pointed pushback from an Argentine lawmaker who had watched a similar wealth-tax experiment falter in her own country. The exchange between the New York Democrat and Argentine Deputy Daiana Fernandez Molero exposed a fault…
Washington’s Senate has approved a new tax targeting residents who earn more than $1 million a year, pushing the state closer to adopting what supporters call a long-overdue correction to one of the most regressive tax structures in the country. Senate Bill 6346 would impose a 9.9% levy on individual income above a $1,000,000 standard…
Washington Senate Democrats are advancing a bill to reverse the state’s recent estate tax increases, a move that directly challenges the logic of the federal GOP’s decision to permanently raise the estate tax exemption to $15 million. The effort, carried out through SB 6347, has drawn little public attention despite clearing a key committee vote,…
Oregon Senate lawmakers are advancing a bill that would disconnect the state’s tax code from three federal tax breaks, a move the Legislative Revenue Office projects would net an additional $311.6 million for the state’s General Fund in the 2025-27 biennium. SB 1507 is now in its engrossed form after clearing the Senate Finance and…
Trump Accounts promise a $1,000 federal seed contribution for eligible children, turning a slice of federal tax law into a long-term wealth experiment for working families. The program’s design runs through the tax code, but its impact will be felt on the ground, where states with the right mix of demographics, administrative capacity and private…
Congress has long held the power to review and block laws passed by Washington, D.C.’s elected leaders, even when those laws deal with local matters like taxes or criminal justice. That authority comes from the District of Columbia Home Rule Act, which created limited self-government in the 1970s while keeping Congress in ultimate control. The…
Florida’s fight over property taxes has moved from quiet committee rooms to the center of a high-stakes clash between lawmakers and Governor Ron DeSantis. At issue is whether the state should strip away most local property taxes on primary homes and how far to go in reshaping who pays for local government. With DeSantis already…
California built its global reputation on climate ambition, yet Governor Gavin Newsom’s latest spending blueprint sharply pares back the state’s environmental muscle just as climate impacts intensify. The plan trims core climate and natural resources programs, then leans on one-time fixes and future borrowing to keep marquee initiatives alive on paper. The result is a…
Personal bankruptcies are climbing again in the United States, and the latest numbers are not a blip. New data highlighted by Rep. Brendan Boyle shows filings rising to their highest levels in years under President Donald Trump, with an 11 percent jump in a single year that added roughly 55,000 more cases to the system….
Billions of dollars that Congress already approved are no longer sitting safely under President Donald Trump’s thumb. After months of legal challenges, judges and state attorneys general have begun to pry open what had looked like a locked vault of frozen grants, education aid, and infrastructure money. The emerging pattern is not just a series…