TRUMP TAX PLAN
Senate Democrats reject government funding bill for tenth time over healthcare subsidies
Senate Democrats blocked a government funding bill for the tenth time Thursday, October 16, demanding guarantees on Affordable Care Act healthcare subsidies before ending the shutdown. The 51-45 vote fell short of the 60 needed to advance as the impasse enters its third week with no resolution in sight
Government shutdown enters fourth week as congressional negotiations stall
The federal government shutdown continues into its fourth week with no resolution in sight. Trump administration efforts to mitigate impacts through alternative funding have reduced pressure for negotiations. Congressional leaders remain deadlocked over spending bills and healthcare subsidies as November 1 deadline approaches
Trump casts long shadow over New York mayoral race
New York City's mayoral race is dominated by Donald Trump's threats, with Democratic nominee Zohran Mamdani vowing to confront him while also offering to work on affordability. His rival, Andrew Cuomo, adopts a more conciliatory approach, aiming to appeal to potential crossover voters by positioning himself as a liaison with the president.
US sinks international deal on decarbonising ships
An international vote to approve a global carbon pricing system for maritime emissions was delayed by a year after the United States threatened sanctions against supporting countries. The London-based International Maritime Organization (IMO) postponed the decision following opposition from the US and some oil-producing nations, citing economic concerns.
Illinois Governor JB Pritzker hits $1.4million jackpot in Las Vegas gambling: See his jaw-dropping net worth despite no salary since 2019
Illinois Governor JB Pritzker's campaign revealed his $1.4 million blackjack winnings from a Las Vegas vacation. The Hyatt Hotels heir, who has a net worth of $3.9 billion, will donate the winnings to charity. Critics, however, argue the win highlights a disconnect with everyday citizens, especially amid tax increases. Sitting over vast fortune, JB Pritzker has not taken a salary since 2019.
Salesforce tries to help ICE boost its immigration force
Salesforce CEO Marc Benioff's support for President Trump has extended to pitching artificial intelligence capabilities to ICE for staffing up immigration enforcement. Internal documents reveal Salesforce's efforts to secure contracts for talent acquisition and AI-driven investigations, drawing criticism from San Francisco leaders who view it as a betrayal of city values.
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Salesforce offers AI tools to help ICE expand its workforce
Under the leadership of Marc Benioff, Salesforce has pursued partnerships with Immigration and Customs Enforcement to provide cutting-edge artificial intelligence capabilities aimed at bolstering their workforce and enhancing their investigative efforts. This move has sparked controversy, especially following Benioff's open endorsements of President Trump and the decision to deploy National Guard troops in San Francisco.
China's rare earth restrictions aim to beat US at its own game
China has responded to U.S. chip restrictions by imposing its own rules on critical mineral exports, a move that could grant Beijing significant leverage over global supply chains. Analysts suggest China may be playing the U.S. playbook more effectively, potentially threatening substantial parts of the U.S. economy and signaling a more delicate stage of mutual interdependence.
Jeep-maker Stellantis to invest $13 bn in US
Stellantis is taking a giant leap forward with a groundbreaking investment of $13 billion in its United States plants over the next four years. This transformative plan is aimed at creating more than 5,000 new employment opportunities throughout Michigan and surrounding Midwest regions.
New stimulus checks unveiled: $1,000 for every newborn could total $93,000 by adulthood. How to claim the amount?
President Trump's 'Big Beautiful Bill' launched 'Trump Accounts,' a $1,000 government deposit for newborns (2025-2028) to boost savings and birth rates. These hybrid accounts, like 529s and Roth IRAs, allow tax-free growth for education, home buying, or retirement. Families can contribute up to $5,000 annually, with potential for significant long-term accumulation.
22 million Americans at risk: Health insurance subsidies set to be cut this year
Millions of Americans face soaring health insurance costs as enhanced Affordable Care Act subsidies are set to expire. This could lead to significant premium hikes or even loss of coverage for over 22 million individuals, disproportionately impacting lower-income families and those without employer-provided insurance. Congress's inaction threatens widespread affordability issues.
Your child can help you earn $93,000: Here’s how Trump’s ‘Big Beautiful’ checks can help you earn big; all you need to know
The One Big Beautiful Bill Act, signed into law by President Trump on July 4, 2025, establishes "Trump Accounts" for newborns, providing a $1,000 government seed fund. This initiative aims to stimulate the economy and encourage long-term savings for children who fall under the criteria. The funds have the potential to grow significantly.
China to keep its 'all about production' economic playbook as rivalry with US intensifies
China's Communist Party convenes to outline a five-year plan prioritizing high-tech manufacturing amid intensifying U.S. rivalry. While pledging to boost household consumption, analysts anticipate limited actual support due to the need to maintain state resources for industrial development, creating a policy dilemma.
Shipping braces for carbon tax that fueled US tariffs threat
The United States has voiced strong opposition, threatening tariffs and other measures. Industry insiders anticipate the regulations will pass, marking a pivotal step in global decarbonization efforts.
Trump’s Social Security tax break set to boost this group of Americans the most
US President Donald Trump’s new plan aims to cut or remove taxes on Social Security for seniors. Experts say rich retirees may gain the most, while younger workers could lose in the long run. The change could also affect future benefit payments and the overall health of the Social Security fund.
Will Fed Chair Jerome Powell’s speech today trigger a fresh crypto market crash? Here’s what to track
Jerome Powell’s speech today is very important for the crypto market. Traders are watching to see if he talks about lowering interest rates or keeping them high. His words may decide if Bitcoin and other cryptocurrencies fall again or start to recover after the recent market crash caused by new U.S.–China trade tensions.
IMF meetings begin under fresh cloud of US-China trade tensions
The IMF and World Bank's semi-annual gathering commenced amidst renewed trade tensions between the US and China. While initial market reactions were negative, a de-escalation in rhetoric offered some relief. Global growth is expected to slow slightly, with a focus on job creation and support for Ukraine's reconstruction.
US and EU spar ahead of vote to cut global shipping emissions
The EU and US are clashing over a UN proposal to cut global shipping emissions, with Washington threatening penalties for nations supporting the plan. The proposed framework aims for net-zero emissions by mid-century, but the US argues it would significantly increase shipping costs and act as a global carbon tax.
Truce fizzles as US-China trade tensions return to full boil
Trade tensions between China and the US have resurfaced with tit-for-tat moves, including new tariffs and export limits on rare earth minerals. These actions have roiled global markets, raising concerns about further escalation. Experts suggest these moves could be either a genuine breakdown in talks or a negotiating tactic ahead of planned discussions.
Trump furious with Xi Jinping, will no longer meet him at APEC Summit in Seoul as trade war escalates
US markets fell after Donald Trump warned of higher tariffs on China and said he won’t meet Xi Jinping at the APEC Summit. His post raised fears of a new trade war between the two nations. Investors became worried, and tech stocks dropped while safe-haven assets like gold and silver gained.
Shutdown pain ripples through US economy with no deal in sight
As a government shutdown enters its second week, real-world impacts are escalating. Air travel faces significant delays due to staffing shortages, while over a quarter-million federal employees missed paychecks. Food programs and national parks are also feeling the strain, with some services contracting or closing entirely.
Cryptocurrency investor known as 'Bitcoin Jesus' reaches Deal With Prosecutors. What to expect?
Under the deal, which has not been filed with the court and could still change, the charges would eventually be dropped if Ver complied with the terms of the agreement.
Columbus Day 2025: Here’s what’s open and what’s shut
Many services will be closed on Monday, October 13, for Columbus Day and Indigenous Peoples Day. Post offices and banks in Oklahoma will shut down. Worcester's trash collection remains on schedule. However, most Oklahoma state agencies and retail stores will operate normally. Commuter rail runs on a weekday schedule, while WRTA buses follow a Saturday schedule.
2026 IRS tax brackets and deductions released: Will US pay less now? Check how much you’ll owe
The IRS has unveiled new federal income tax brackets and standard deductions for 2026, adjusting income thresholds to combat inflation and 'bracket creep'. Married couples filing jointly will see a higher standard deduction of $32,200, while single filers get $16,100. These changes aim to offer some financial relief to Americans next year.
Think the government shutdown delays taxes? Think again — October 15 deadline still in full force
The IRS is partly closed as the government shutdown continues. Many workers are furloughed, but taxes are still due. Individuals with a 2024 tax extension must pay by October 15, 2025. Tax returns are being processed, and penalties apply for late payments. Employees will get back pay after the shutdown ends. The length of the shutdown is still uncertain.
IRS Direct Deposit Transition: Taxpayers who do not have a bank account or don’t provide banking details on time may land in big trouble; here’s what you need to know
The Internal Revenue Service is ending paper checks for tax refunds and federal payments. Starting with the 2025 tax year, direct deposit will be mandatory. This change aims to boost efficiency and security. Millions of taxpayers, including those who do not have a bank account and those with religious objections, may face challenges.
Truck tariffs: Mexico risks a new tariff blow with Trump's duties
President Sheinbaum may directly engage with President Trump to address these duties, which are slated to begin November 1st.
Rs 13,000 crore at just 19: How Barron Trump built his teen fortune empire while still in college
At just 19, Barron Trump, the youngest son of Donald and Melania Trump, has amassed a net worth of around Rs 13,000 crore ($150 million), largely through cryptocurrency ventures. He played a key role in introducing his father to digital wallets and co-founded World Liberty Financial with his family in 2024. Barron’s crypto holdings, stablecoins, and strategic partnerships have rapidly increased his wealth, while he continues his studies at NYU Stern.
Trump bailout for trade-hit US farmers expected this week
The Trump administration is preparing to announce a $10-15 billion bailout for U.S. farmers impacted by trade disputes and large harvests. However, the ongoing government shutdown complicates the rollout, as Congressional approval for such a large payout is currently impossible. Existing government reserves are also insufficient to cover the proposed aid.
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