As the dust settles in Washington over the Senate tax reform, clear winners and losers are emerging. Tobie Stanger, Senior Editor at Consumer Reports, breaks down the pros and cons of this potential bill.
Stanger's clear winners: Those who take the standard deduction, families with dependents, teachers of grades K-12, people with expensive medical bills, and wealthy, self-employed people.
Plus, there is a clause that gives a tax break to people who own golf courses. We'll let you take a guess at who owns several courses in America...
Almost four dozen Venezuelan workers who had temporary protected status have been put on leave by Disney after the U.S. Supreme Court allowed the Trump administration to strip them of legal protections.
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
The Trump administration announced a trade deal with the United Kingdom Thursday in grandiose terms, but with only limited details about what it achieves.
Why not tax the millionaires? That question won't seem to go away as Congress begins drafting a package of tax breaks and spending cuts for President Donald Trump’s “big, beautiful bill."
X, the social media platform owned by Trump adviser Elon Musk, is challenging the constitutionality of a Minnesota ban on using deepfakes to influence elections and harm candidates.
