Money, Wealth & Power—A Daily Look at the Financial World
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…
In Columbus, Ohio, a new push to cut property taxes is zeroing in on the local levies that appear on almost every homeowner’s bill. A fresh proposal in the Ohio House would stack new state-funded discounts on top of what voters already approved, offering relief without dismantling the property tax system. Layered onto several recent…
For weeks, Americans have been told to expect an average $1,000 bump in their tax refunds, a windfall tied to President Trump’s One Big Beautiful Bill Act and pitched as proof that the new law is working. The political message is simple: bigger checks, happier voters, smoother path into the next election cycle. The reality…
Eight states have just pushed through sizable income tax cuts that will reshape paychecks and state budgets starting with the 2026 tax year. I focus here on the states that either lowered rates or set themselves on a path to eliminate the tax entirely, explaining what changed and why it matters. Together, these moves deepen…
President Donald Trump has promised that the 2026 filing season will deliver the biggest tax refunds in history, powered by his One Big Beautiful Bill and new breaks for workers. On paper, many households really are in line for larger checks because withholding stayed high even as the law cut taxes for 2025 income. In…
Several of the most familiar write-offs in the federal code are being reshaped or erased as 2026 rules lock into place. The Internal Revenue Service is implementing a package of changes tied to the Tax Cuts and Jobs Act and the newer One Big Beautiful Bill framework, and some of the quietest shifts will hit…
Millions of households entered this filing season steeling themselves for thinner Internal Revenue Service checks, even as Washington touts a wave of new tax breaks. The fear is simple: withholdings have not kept up with shifting rules, so the surprise at the end of the process could be a smaller cushion than families are counting…
California’s electric vehicle market has been jolted by the sudden disappearance of federal tax credits, turning what was once a straightforward $7,500 discount into a confusing scramble for new incentives. State leaders are now racing to rebuild a patchwork of rebates and matching funds that can keep EVs moving off dealer lots and onto freeways….
Your tax refund has suddenly become collateral in a political fight in Washington, and the timing could not be worse. With filing season already underway, a partial federal shutdown is colliding with the weeks when millions of households count on refunds to catch up on bills, pay down holiday debt, or rebuild thin savings. I…