The Maritime Action Plan would raise between $66 billion and $1.5 trillion to support the infrastructure of U.S. shipbuilding over the next 10 years. The White House proposed…
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Congress Advances Measures to Counter D.C. Tax Code Decoupling
Some oppose the measure as tax season is underway. The House of Representatives has moved to block changes to Washington D.C.’s local tax code. A disapproval resolution was passed…
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CMS Announces Rule to Close Medicaid Financing Loophole
States are required to phase out tax structures that shift costs to the federal government. The Centers for Medicare & Medicaid Services (CMS) finalized a rule to end…
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Council of Economic Advisers Issues Study on State Income Tax Elimination
The council analyzed the replacement of state income tax collection with sales tax revenue and limiting state service expansion. The White House Council of Economic Advisers released a…
Read MoreSocial Security Beneficiaries May Receive Tax Breaks Under New Laws
Congress makes adjustments for individuals 65 and over, and for Social Security beneficiaries. Congress enacted two laws this year, President Donald Trump’s “One Big Beautiful Bill” and the…
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Treasury Secretary Responds to Governors Blocking Tax Cuts
He calls the block “political obstruction.” Treasury Secretary Scott Bessent responded to the refusal of the governors of the states of New York, Colorado, Illinois, and the District…
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IRS Releases Guidance for Tax Deductions on Tips and Overtime
Workers who received tips or overtime will be able to deduct this compensation when filing their 2025 income taxes. The Internal Revenue Service (IRS) has released guidance on its “no…
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President Proposes Tariff Increase over Foreign Taxes on U.S. Tech Companies
He called the taxation of companies like Google and Meta “discriminatory actions.” President Donald Trump warned that he would impose new tariffs against countries that tax or regulate…
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Senate Passes President’s “Big, Beautiful Bill”
Vice President Vance voted to break the 50-50 tie. Vice President JD Vance voted to break the 50-50 Senate tie to pass President Donald Trump’s “One, Big, Beautiful…
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Congress Nears Deadline to Pass President’s Agenda Legislation
President Trump urged legislators to approve it by July 4 or delay their recess. The majority in Congress are nearing the original deadline of July 4 that was…
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