Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump is signaling that he wants to unwind a looming change to how gambling winnings are taxed, setting up a clash between a fresh revenue-raising rule and a White House eager to court bettors, casinos, and swing-state tourism hubs. The fight centers on a 2026 shift that would sharply limit how much gambling…
President Donald Trump is lining up behind a new push to send direct cash to households, backing a Republican plan that would deliver fresh $1,500 checks to millions of Americans. The proposal is already stirring intense interest from families still squeezed by high prices and uneven wage growth, but the fine print on who actually…
Millions of Americans are suddenly watching Washington with fresh interest as lawmakers debate a plan that would send direct payments of up to $1,500 to help with rising health costs. The proposal, centered on health insurance and savings incentives, would route federal money straight into consumers’ own accounts instead of only into traditional subsidies. If…
Florida’s breakneck housing market has turned a long-running affordability squeeze into a full-blown political test, and state leaders are now flirting with one of the most radical ideas in American tax policy: scrapping local property taxes. The push is framed as relief for homeowners watching bills climb faster than paychecks, but it would also rip…
Pennsylvania’s long running fight over how to tax natural gas is entering a new phase, as Democrats argue the state is effectively giving away one of its most valuable resources. They say the current system leaves “billions” on the table that could be paying for schools, property tax relief, and infrastructure instead of padding industry…
Working households are being told to brace for a rare windfall at tax time, with officials signaling that “very large refunds” could reach as high as $2,000 per family. The promise is aimed squarely at people who earn wages and salaries, and it is tied to a mix of tax changes, tariff policy and how…
President Donald Trump’s latest tax overhaul turns the once-modest state and local tax break into a high-stakes swing factor for affluent households, especially in high-tax states. The new rules can either hand top earners a five-figure deduction or quietly strip away thousands of dollars in write-offs if they misjudge their income and timing. I see…
The Trump administration’s decision to impose a six-figure charge on employers seeking new H-1B visas has triggered a sweeping legal backlash from state governments and business groups. At the center of the fight is a proposed $100,000 application fee that critics say would wall off the United States from the very engineers, doctors and researchers…
Democrats are warning that President Donald Trump’s renewed trade war is quietly functioning as a stealth tax on consumers, with party economists estimating that tariffs have already added roughly $1,200 to the typical household’s costs. The figure, they argue, reflects higher prices on everything from clothing and electronics to cars and groceries, costs that are…
President Donald Trump’s new $12 billion farm rescue is pitched as a lifeline for producers squeezed by his trade war with China and higher input costs. The money will start flowing early next year, but the structure of the plan means some farmers, regions and commodities are poised to gain far more than others. The…