The Trump administration is taking a serious look at capping tax deductions for charitable contributions, according to sources, posted on The Hill. Steven Mnuchin as well as Trump’s senior advisers are mulling their next steps on tax reform, and the proposal to limit deductions for charitable giving hasn’t yet gained widespread acceptance, officials said. A senior […]
Ed. Note: This article first appeared in Bloomberg President Trump is issuing a presidential memorandum that will call for a rethinking of the entire structure of the federal government, a move that could eventually lead to a downsizing of the overall workforce and changes to the basic functions and responsibilities of many agencies. The order will […]
Ed. Note: This article first appeared in Politico Former Homeland Security Sec. Jeh Johnson said that he believes President Trump “has the potential to be a great president,” and suggested that the Trump administration’s issuance of an emergency order banning passengers from carrying larger electronic devices on certain flights from the Middle East and North Africa […]
Even as the central bank amassed trillions of dollars of debt to prop up the economy following the financial crisis, it didn’t hedge its holdings or fret about gains and losses that might keep ordinary investors up at night. This extreme buy-and-hold stance has had an incredible calming effect on the bond market.
Ed. Note: This article first appeared in Bloomberg Tens of thousands of reportedly defrauded student debtors may be awarded refunds and loan discharges under a potential legal settlement. Alums of a disgraced for-profit college chain have spent years trying to cancel their federal student loans. For three years in federal court, the Obama Department of Education told them […]
Environmentally conscious investors are using their pocketbooks to protest President Trump’s plans to slash environmental regulations, fueling a rally in funds that only invest in companies that meet progressive criteria for sustainability.
Post by Catarina Saraiva and Michelle Jamrisko at Bloomberg The U.S. economy should be able to weather President Trump’s temporary travel ban, economists say, though any broadening of immigration and visa restrictions could hurt the labor force and productivity. Two-thirds of economists surveyed by Bloomberg said the ban, which has for the moment been temporarily suspended […]
Story written by Jonathan Cohn at Huffington Post The Trump administration has canceled plans to tighten enforcement of the Affordable Care Act’s individual mandate. The Obama administration’s plan was designed to strengthen the law. The Trump administration’s decision could weaken it. The individual mandate is a requirement that people pay a financial penalty if they have the […]
Story written by Dashielle Bennett at Bloomberg Three weeks into his presidency, Donald Trump’s every statement continues to dominate news headlines, and Americans are paying attention. The University of Michigan consumer sentiment survey, released on Friday morning, found that confidence this month cooled from January’s 13-year high, as Americans moderated their expectations on their personal […]
Story written by Ben Moshinsky at Business Insider The risk of an escalating trade war between China and the United States is rising fast. United States President Donald Trump’s trade adviser, Peter Navarro, has proposed a blanket 45% tariff on all Chinese-made goods. And Goldman Sachs analysts Andrew Tilton and Alec Phillips say they see “little reason to […]