Deficit Rose to $2 Trillion for 2026 Fiscal Year: CBO
The federal budget deficit came to $2.0 trillion in the 2026 fiscal year, the Congressional Budget Office estimated Thursday. The CBO’s final...
Tax Fraud Could Cost the US Over $300 Billion a Year: GAO
Fraud may be costing the federal government more than $300 billion a year in lost tax revenues, according to a new estimate from the Government...
Bipartisan Group of Lawmakers Proposes New Tax Incentives for Film and TV
A group of Republican and Democratic lawmakers introduced a bill Thursday that would create a federal tax break to keep movie and television...
Corporate Tax Payments Plunge 25% Even as Profits Boom
Corporate profits may be soaring to new highs, but corporate tax payments are plunging thanks in large part to the breaks Republicans included in...
Trump Admin Proposes Rule That Could Revoke Tax Exemption for 18,000 Schools
The Trump administration proposed a new rule Thursday that would revoke the tax exempt status of any private school that the Internal Revenue Service...
IRS Audit Revenue Drops 35% Following Trump’s Staffing Cuts
The IRS saw a significant decrease in revenues generated by audits in fiscal year 2025, according to a report released last week by the Treasury...
US National Debt Tops $40 Trillion
The U.S. gross national debt surpassed a record $40 trillion, the Treasury Department said Wednesday. The number serves as a milestone on a path of...
Trump Says Mamdani’s New York Pied-a-Terre Tax ‘Must Be Stopped’
President Trump made it clear Tuesday that he opposes Mayor Zohran Mamdani’s new tax on second homes in New York City, saying on his social media...
Trump Threatens to Pull Blanche Nomination in Fight Over IRS Settlement
President Trump said Thursday that he is willing to temporarily withdraw his nomination of Todd Blanche to be attorney general rather than give in to...
Judge Blasts Trump’s ‘Improper’ $10 Billion Lawsuit Against IRS
A federal judge on Monday ruled that President Trump’s $10 billion lawsuit against the IRS over the illegal release of his personal tax records was an...