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The Trump administration got a chilly reception at the Supreme Court, where a majority of the court questioned President Donald Trump's novel use of an emergency powers law to impose worldwide tariffs.
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White House tells Supreme Court it doesn't care about the tariff money raised The Washington PostTakeaways from Trump's rocky Supreme Court arguments over global tariffs CNNTrump has other tariff options if the Supreme Court strikes down his worldwide import taxes The Seattle TimesAre tariffs taxes on Americans? The fate of blanket tariffs appears to hinge on questions Trump has evaded for years. Yahoo Finance
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FAA reducing air traffic by 10% across 40 'high-volume' markets during government shutdown AP NewsTrump administration will reduce traffic at 40 airports across the US starting Friday if shutdown continues CNNTrump Admin to Cut 10 Percent of Flights Amid Shutdown as Holidays Loom Rolling StoneThe FAA is set to start cutting flights to contend with delays and staffing shortages NBC News
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Mayor-elect Zohran Mamdani says New York will resist Trump 'intimidation' abcnews.go.comHe tried to come back from exile. Now Andrew Cuomo's career is over for good. PoliticoZohran Mamdani salutes Bollywood, Indian history, Muslim tradition on victory night USA Today
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'Folks are tired of the chaos': Pa. Gov. Shapiro reacts to Democrats' big election night wins 6abc PhiladelphiaUS elections: Four takeaways after Democrats seal key wins BBCTwo days that tarnished Trump's aura of absolute power CNN2025 General Election: Races to Watch in New York, Virginia, New Jersey and California The New York Times
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Republicans Point Fingers After Election Losses, but Not at Trump The New York TimesRepublicans look for lessons in election dominated by Democratic wins NBC NewsNEWT GINGRICH: Republicans have one big thing to learn about their 2025 wipeout Fox NewsElection Day Sent an Unmistakable Warning to Republicans Bloombe
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The Trump administration says the move, which will affect 40 markets, is part of an effort to ease pressure on air traffic controllers.
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IRS Direct File, the electronic system for filing tax returns for free, will not be offered next year, the Trump administration has confirmed.
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The Supreme Court is considering whether the president acted legally when he used a 1977 emergency statute to impose tariffs on scores of countries.
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The bipartisan move is symbolic, as the House has passed a rule against legislation to block tariffs this year.
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IN THE annals of modern American economic policymaking, among the most revered pieces of legislation is the Tax Reform Act of 1986. During the three decades since its passage, Democrats and Republicans alike have hailed the law not only for overhauling the country''s tax system, which Jimmy Carter famously called 'a disgrace to the human race', but also for doing so with bipartisan support in both houses of Congress. As Republicans embark on yet another sweeping rewrite of the tax code, many point to the 1986 effort as a model to emulate. It was 'really something special', Donald Trump said in August. However, admirers of America''s last comprehensive revision of its tax code should be disappointed with the GOP''s current attempts.The bill that passed in 1986 took a long, arduous path to President Ronald Reagan''s desk. Originating out of a three-volume report by the Treasury department, it faced numerous brushes with death, and took more than two years to wind its way through Congress. The process included full committee hearings, markups and deliberations. The final bill eliminated many deductions, credits and exemptions that favoured some taxpayers over others. This generated new revenues, which were then used to reduce tax rates, mainly for low and middle-income individuals. The bill did ...
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