Government taxation and revenue
Canada, Mexico tariffs create ‘ripple effects’ on consumer prices, economist says
Key Points President Donald Trump imposed a 25% tariff on imports from Canada and Mexico on Tuesday. He put a lower 10% tariff on Canadian energy, and another 10% levy on China. Canada and Mexico are the largest trading partners of the United States. Businesses are expected to raise prices for consumer goods as a […]
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UConn star Paige Bueckers touts financial literacy as NIL boosts women’s sports
Paige Bueckers, #5 of the UConn Huskies, shoots the ball in the second half during the NCAA Women’s Basketball Tournament Final Four semifinal game against the Iowa Hawkeyes at Rocket Mortgage FieldHouse in Cleveland, Ohio, on April 5, 2024. Steph Chambers | Getty Images University of Connecticut star Paige Bueckers, on the cusp of becoming […]
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Trump’s tariffs showcase his extraordinary presidential power — and its limitations
U.S. President Donald Trump reacts as he speaks with members of the media on the South Lawn before boarding Marine One at the White House, in Washington, D.C., U.S., Feb. 28, 2025. Nathan Howard | Reuters U.S. importers and their customers are about to experience the full force of President Donald Trump’s unprecedented use of […]
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‘Reverse Robin Hood scam’ or windfall for middle class? Lawmakers debate Trump tax plan extensions
Key Points Republicans and Democrats are making competing claims about the impact of extending provisions in the Tax Cuts and Jobs Act. The GOP sees it as a windfall for low- and middle-income households. Democrats view it as a handout for the wealthiest Americans. Both sides can be correct depending on the frame of reference, […]
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With $1 billion in salary IOUs, the Dodgers spark new questions about MLB’s fairness
Members of the Los Angeles Dodgers celebrate on the field after winning Game 5 to win the 2024 World Series presented by Capital One between the Los Angeles Dodgers and the New York Yankees at Yankee Stadium on Oct. 30, 2024. Mike Lawrence | Major League Baseball | Getty Images As Major League Baseball’s spring […]
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Trump says Mexico, Canada tariffs will start March 4, plus additional 10% on China
U.S. President Donald Trump hosts his first cabinet meeting with Elon Musk in attendance, Washington, D.C., U.S., February 26, 2025. Brian Snyder | Reuters President Donald Trump on Thursday said that his proposed tariffs on Mexico and Canada will go into effect on March 4, and that China will be charged an additional 10% tariff […]
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Trump’s proposed ‘gold card’ visa comes with a hidden tax benefit
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox. President Donald Trump’s proposed $5 million “gold card” for U.S. residency would be one the most expensive in the world, according […]
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Here’s why Trump tariffs may raise your car insurance premiums
Key Points Annual car insurance premiums would rise by 8% in 2025 if tariffs on Canada and Mexico take effect, according to Insurify. They would rise by 5% without such duties, it said. Trump proposed a 25% tariff on imports from Canada and Mexico, which may start in March. Tariffs are expected to raise costs […]
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IRS will lay off thousands of probationary workers in the middle of tax season
Nametags with the IRS logo in a conference room at the Internal Revenue Service (IRS) campus in Austin, Texas, US, on Friday, Sept. 6, 2024. Jordan Vonderhaar | Bloomberg | Getty Images The IRS will lay off thousands of probationary workers in the middle of tax season, according to two sources familiar with the agency’s […]
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Watch out for this unexpected tax hit from your municipal bonds
As tax season revs up, investors might be on the hook for reporting – and paying – obligations on their tax-free municipal bonds. Investors are likely gathering the documents they need to file their 2024 tax returns, which are due on April 15. It was a big year for income-generating investments , even as the […]
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