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This Day in Legal History: Eisenhower Signs Act Creating NASAOn July 29, 1958, President Dwight D. Eisenhower signed the National Aeronautics and Space Act into law, officially creating NASA. The legislation emerged in response to growing Cold War tensions and the Soviet Union's launch of Sputnik the previous year. It marked a pivotal shift in U.S. federal priorities, establishing a civilian-led space agency to coordinate scientific exploration, aeronautics research, and peaceful uses of space. NASA began operations on October 1, 1958, absorbing the earlier National Advisory Committee for Aeronautics (NACA) and ushering in a new era of government-backed technological ambition.Over the decades, NASA has become a symbol of American innovation, from landing astronauts on the moon to deploying the Hubble Space Telescope. Its work has catalyzed advancements not only in spaceflight, but also in climate science, materials engineering, and telecommunications. The legal framework underpinning NASA reflects a national consensus that science and exploration are critical public goods deserving of federal investment and support.But 67 years later, that consensus is showing strain. Just yesterday, NASA announced that nearly 4,000 employees—about 20% of its workforce—are leaving the agency through the Trump administration's deferred resignation program. This mass exodus follows proposed budget cuts and internal restructuring driven by the Department of Government Efficiency (DOGE), a key player in Trump's effort to slash the federal workforce.The timing couldn't be worse. The administration has called for both sweeping workforce reductions and a significant budget cut of nearly 24% for FY 2026, even as it touts long-term funding increases in the so-called One Big Beautiful Bill Act. Scientists and space advocates, including The Planetary Society, have criticized the inconsistency, calling it a direct threat to American leadership in space. A group of over 300 NASA employees echoed that concern in a public letter this week, denouncing the changes as "rapid and wasteful" and warning that they jeopardize the agency's mission.What began as a proud moment of bipartisan support for science and exploration now faces a political climate where expertise is undervalued and institutional stability is sacrificed for short-term optics.Nearly 4,000 NASA employees opt to leave agency through deferred resignation programIn her latest appeal to the U.S. Supreme Court, Ghislaine Maxwell argues that her 2021 federal sex trafficking conviction should be overturned because it violated a 2007 non-prosecution agreement (NPA) originally struck between Jeffrey Epstein and federal prosecutors in Florida. Maxwell contends that the agreement, which shielded Epstein and his unnamed co-conspirators from federal charges in exchange for his state-level plea, should have also barred her later prosecution in New York. The Justice Department disputes this, saying the NPA applied only to the Southern District of Florida and does not merit Supreme Court review. Maxwell's brief criticizes the DOJ for focusing on Epstein's misconduct rather than the legal scope of the deal, framing the issue as one of government accountability to its promises. The Second Circuit previously upheld her conviction, finding no evidence that the NPA was meant to apply nationally. However, the National Association of Criminal Defense Lawyers filed a brief supporting Maxwell, arguing that even atypical agreements must be honored if made by the government. Political tensions surrounding the Epstein case continue to complicate matters, as Maxwell recently met with Deputy Attorney General Todd Blanche amid renewed scrutiny of the Trump administration's handling of Epstein's prosecution. The Supreme Court is expected to consider whether to hear the case in late September.Ghislaine Maxwell Tells Supreme Court Epstein Deal Shielded HerThe Trump administration has filed a judicial misconduct complaint against Chief U.S. District Judge James Boasberg, accusing him of violating judicial ethics by expressing concerns that the administration might defy court rulings, potentially triggering a constitutional crisis. The complaint centers on comments Boasberg allegedly made during a March meeting of the judiciary's policymaking body, which included Chief Justice John Roberts. The Justice Department argues that these remarks, later echoed in his rulings, undermined judicial impartiality—particularly in a case where Boasberg blocked the deportation of Venezuelan migrants using wartime powers under the Alien Enemies Act. The administration claims Boasberg acted on a political bias when he found probable cause to hold it in criminal contempt for defying his deportation order. The DOJ has asked the D.C. Circuit to reassign the case and refer the complaint to a special investigative panel. Boasberg, appointed to the federal bench by President Obama after an earlier nomination to the D.C. Superior Court by President George W. Bush, has not publicly responded. The D.C. Circuit stayed his contempt finding, and a final ruling is still pending.Trump administration files misconduct complaint against prominent judge Boasberg | ReutersThe U.S. Court of Appeals for the Federal Circuit has extended the suspension of 98-year-old Judge Pauline Newman for another year, citing her continued refusal to undergo a full neuropsychological evaluation to assess her fitness to serve. Despite submitting medical reports from her own experts asserting she is mentally competent, the court concluded that those reports were insufficient and contained inaccuracies, including concerns about memory issues and fainting episodes. Newman's legal team criticized the court's swift decision, arguing that their evidence and arguments were not seriously considered following a recent hearing. Newman, a respected patent law jurist appointed by President Reagan in 1984, is the oldest active federal judge who has not taken senior status and has been a prominent dissenter on the Federal Circuit. The court originally suspended her in 2023 after Chief Judge Kimberly Moore raised concerns about her cognitive and physical condition. Newman sued over the suspension, but her case was dismissed; it is now under review by a separate federal appeals court. The latest ruling reaffirms the court's insistence on comprehensive testing before any reconsideration of her judicial role.US appeals court extends suspension of 98-year-old judge in fitness probe | ReutersDonald Trump has asked a federal court to expedite a deposition of Rupert Murdoch in his $10 billion defamation lawsuit against the Wall Street Journal over a July 17 article linking him to Jeffrey Epstein. The article claimed Trump sent Epstein a 2003 birthday greeting that included a suggestive drawing and cryptic references to shared secrets—allegations Trump calls fabricated. In a court filing, Trump's lawyers said he informed Murdoch before publication that the letter was fake, and Murdoch allegedly responded that he would “take care of it,” which they argue demonstrates actual malice—a necessary legal threshold in defamation cases involving public figures. Trump's team is seeking Murdoch's testimony within 15 days, and Judge Darrin Gayles has ordered Murdoch to respond by August 4. The article's release has intensified political scrutiny of Trump's handling of the Epstein investigation. Legal analysts note Trump faces an uphill battle given the stringent standards for proving defamation, especially against media outlets. Dow Jones, which publishes the Journal, said it stands by its reporting and intends to vigorously defend the case.Trump asks for swift deposition of Murdoch in Epstein defamation case | ReutersMy column for Bloomberg this week argues that the latest shift in federal tax law—the move from the global intangible low-taxed income (GILTI) regime to the net controlled foreign corporation tested income (NCTI) system—should push states to reassess their habitual conformity to the Internal Revenue Code. NCTI expands the scope of taxable foreign income for U.S. multinationals, reflecting a broader federal effort to combat base erosion and bolster global competitiveness. But when states automatically conform to these changes—especially through rolling conformity—they risk inheriting complex, federally motivated rules that don't align with their economic interests or legal authority.Rolling conformity is a mechanism by which a state automatically updates its tax code to reflect changes in the federal Internal Revenue Code as they occur, without requiring separate legislative action. While rolling conformity can reduce administrative friction, it's increasingly problematic in an era of aggressive and frequent federal tax rewrites. States adopting NCTI may find themselves without key federal mechanisms like foreign tax credits or Section 250 deductions, exposing them to potential legal challenges over extraterritorial taxation and apportionment. These lawsuits could be expensive, prolonged, and ultimately hinge on issues that federal tax policy has already moved past. I argue that states need to move beyond passive conformity and take an intentional, sovereign approach to tax policy—reviewing conformity statutes now, decoupling where necessary, and preparing to defend their fiscal independence in the face of Washington's rapid policy swings.Trump Tax Law Should Spur States to Split From Federal ‘Pendulum' This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe
Zeitgeist Panel - 361Firm's 4th Newport Conference July 2025Transcript: https://361.pub/ZeitgeistN25TranscriptVideo: https://youtu.be/GDKgEdCW_1YAll 361Firm Podcasts on Apple (https://361.pub/podcast_apple), Spotify (https://361.pub/spotify), Simplecast (https://361.pub/pods) Summary: The panel discussed the current global economic zeitgeist, highlighting four key issues: mistrust in institutions, high global debt levels, the Fed's independence, and the impact of politics on investor sentiment. Stephen Burke emphasized the mistrust in governance and the divisiveness in politics, affecting policy stability. Barbara Doran noted the significant impact of tariffs on consumer sentiment and market reactions, with GDP estimates revised downward. Greg Wilder discussed the shift in business owners' attitudes towards passing down businesses and the implications of the recent tax bill on US manufacturing and interest deductibility. The discussion also touched on the need for fiscal discipline and educational reform to address generational distrust and economic inequality.SUMMARY KEYWORDS: Zeitgeist panel, global economy, mistrust institutions, debt levels, Fed independence, interest rates, tariffs impact, consumer sentiment, fiscal discipline, US manufacturing, tax policy, educational reform, generational distrust, economic growth.SPEAKERS: Barbara Doran, Stephen Burke, Parth Vakil, Greg Wilder, Charles Beyrouthy, Mark Sanor You can subscribe to various 361 events and content at https://361firm.com/subs. For reference: Web: www.361firm.com/homeOnboard as Investor: https://361.pub/shortdiagOnboard Deals 361: www.361firm.com/onbOnboard as Banker: www.361firm.com/bankersEvents: www.361firm.com/eventsContent: www.youtube.com/361firmWeekly Digests: www.361firm.com/digest
Kyle Touchstone, Director of Raleigh Economic Development, shares with us how Raleigh became the top-ranked large city in the US, according to the Milken Institute. Kyle and show host Gene Tunny discuss the city's success in biotech, AI, quantum computing, and advanced manufacturing—all underpinned by the world-class universities and innovation ecosystem of North Carolina's Research Triangle. The conversation also explores Raleigh's growing role in the gaming industry, including its connection to Epic Games—the creator of Fortnite—and the rise of eSports in the region.Please email Gene your thoughts on this episode via contact@economicsexplored.com.TimestampsRaleigh's Economic Growth and Milken Institute Ranking (0:00)Industry Sectors and Infrastructure in North Carolina (5:17)Significant Announcements and Investments (7:23)Population Growth and Quality of Life (12:23)Entrepreneurial Ecosystem and Community Support (15:08)Tax Policy and Economic Development (15:35)Quantum Computing and AI (19:49)Sports and Entertainment (43:40)eSports and Gaming (47:55)Lessons in Economic Development (50:39)TakeawaysTop Rankings: Raleigh was named the #1 best-performing large city by the Milken Institute and is part of the #1 state for business (North Carolina, per CNBC).Research Triangle Advantage: Home to NC State, Duke, and UNC Chapel Hill, the Research Triangle fuels innovation with top-tier talent and research.Massive Investment: Biotech firms, such as Biogen, Amgen, and Genentech, have invested billions, drawn by the infrastructure, affordability, and access to research.Quantum & AI Leadership: IBM's quantum hub and regional AI focus are positioning Raleigh as a leader in next-gen computing.Entrepreneurial Ecosystem: Startups like Pendo and social enterprises like 321 Coffee thrive thanks to a strong support network and educational institutions.Links relevant to the conversationRaleigh, NC and Gainesville, GA Top Milken Institute's 2025 Annual Ranking of Best-Performing Cities:https://milkeninstitute.org/content-hub/news-releases/raleigh-nc-and-gainesville-ga-top-milken-institutes-2025-annual-ranking-best-performing-citiesRaleigh Economic Development:https://www.raleighecondev.org/Zoom catch up with show host Gene TunnyJoin Gene and other listeners for a catch-up on Zoom on Thursday, 31 July at: 21.30 to 22.30 AEST/GMT+10 (Australian East Coast time)12.30 to 13.30 BST/GMT+1 (British Summer time)07.30 to 08.30 EDT/GMT-4 (US East Coast time)The link to the Zoom room is:https://us02web.zoom.us/j/9471595560RSVP by 20.00 GMT+10 on 31 July to contact@economicsexplored.comLumo Coffee promotion10% of Lumo Coffee's Seriously Healthy Organic Coffee.Website: https://www.lumocoffee.com/10EXPLOREDPromo code: 10EXPLORED
Steve Forbes explains that President Trump is hardly the first Commander in Chief to battle the Federal Reserve, and until the central bank abandons its profoundly wrong philosophy, history is doomed to repeat itself.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Washington DC tax expert Thad Inge joins the show again for a deep dive into the Big Beautiful Bill. He breaks down the tax legislation that extends TCJA provisions and introduces new benefits like tax-free tips and overtime. Together with Annie and Roger, they explore the surprising speed of the political process, the complex implementation challenges ahead, and what small business owners and individuals need to know right now. From ERC changes to new car loan deductions, this comprehensive breakdown separates the reality from the hype surrounding one of the most significant tax bills in recent years.SponsorsPadgett - Contact Padgett or Email Jeff Phillips(00:00) - Welcome to Federal Tax Updates (02:14) - Overview of the Big Beautiful Bill (02:43) - The Legislative Process and Political Dynamics (06:53) - Key Provisions and Extensions in the Bill (09:33) - Tax Policy vs. Political Strategy (11:33) - State and Local Tax (SALT) Debate (17:25) - Cost and Budget Considerations (26:24) - New Tax Provisions: Tips and Overtime (29:07) - Implementation Challenges and Guidance (34:18) - Transition Relief and State Standards (37:16) - Overtime and Salary Dynamics (38:17) - IRS Withholding Rules (42:24) - Employee Retention Credit (ERC) Updates (48:17) - Business Deductions and Expensing (52:22) - New Tax Provisions for Seniors and Car Loans (54:59) - Energy Credits and Legislative Negotiations (56:35) - Final Thoughts and Future Outlook Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Connect with Thad IngeLinkedIn: https://www.linkedin.com/in/thad-inge-9342155Website: https://www.vsadc.com/Connect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of the Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.
Steve Forbes calls out Fed Chair Jerome Powell for "playing politics" on refusing to cut interest rates, which not only damages the economy but hurts the U.S. dollar.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this week's issue of Travers Smith's Alternative Insights, we are looking at the impact of Taxing financial services professionals in the UK.Links:https://assets.publishing.service.gov.uk/media/6735f4670b168c11ea82311d/Financial_Services_Growth___Competitveness_Strategy_-_Call_for_Evidence_.pdfhttps://www.reuters.com/world/uk/uk-scrap-non-dom-tax-status-foreign-earnings-2024-03-06/https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2024-non-dom-regime/#thechanges2https://on.ft.com/3Ij9PrThttps://www.traverssmith.com/knowledge/knowledge-container/rule-changes-for-european-private-fund-managers/https://obr.uk/docs/dlm_uploads/OBR_Economic_and_fiscal_outlook_Oct_2024.pdfhttps://www.traverssmith.com/knowledge/knowledge-container/government-provides-welcome-update-to-carried-interest-reform-proposals/https://www.ft.com/content/ba781c26-f3f0-4657-bad7-d47337353790https://on.ft.com/4nIgID5
Steve Forbes warns Republicans and policymakers in general that the failure to confront the immigration crisis through a measured approach that protects Americans and bolsters the economy could cause far-reaching irrevocable damage.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Doug McHoney (PwC's International Tax Services Global Leader) is joined by Pat Brown, an international tax partner and Co-Leader of PwC's Washington National Tax Services practice and former Deputy Assistant Secretary for Tax Policy at the US Treasury. In part three of Doug's three-part OBBBA discussion with Pat, they discuss the newly enacted OB3 reconciliation law, focusing on its permanent corporate and individual tax provisions, the recalibration of bonus depreciation, Section 174 expensing and Section 163(j); the Senate's redesign of GILTI, FDII and BEAT; Inflation Reduction Act rollbacks; Treasury's last-minute removal of Section 899; and the G7's surprise accord intended to exempt US-parented groups from Pillar Two's IIR and UTPR while elevating QDMTTs and compliance simplification. They map the procedural and legislative steps still needed, potential timing gaps, and why multinational groups must keep Pillar Two compliance front-of-mind.
Independent investigative journalism, broadcasting, trouble-making and muckraking with Brad Friedman of BradBlog.com
This Day in Legal History: Residence ActOn July 16, 1790, the U.S. Congress passed the Residence Act, establishing the District of Columbia as the permanent seat of the federal government. The decision was the product of a political compromise between Alexander Hamilton and Thomas Jefferson, brokered in part by James Madison, whereby southern states would support federal assumption of state debts in exchange for locating the capital along the Potomac River. The land for the new district was ceded by both Maryland and Virginia, and the Constitution allowed for a federal district not exceeding ten miles square. President George Washington personally selected the site, which straddled the Potomac and included portions of Alexandria and Georgetown.Pierre Charles L'Enfant was tasked with designing the city's layout, envisioning broad avenues and grand public spaces to reflect the dignity of the new republic. In the early years, however, Washington, D.C. remained underdeveloped and muddy, with many of the federal buildings still under construction. Over time, most major institutions and monuments were built on the Maryland side of the river, causing concern among residents on the Virginia side. In 1846, responding to economic neglect and the declining significance of Alexandria as a port, Congress approved Virginia's request to retrocede its portion of the district. This land, now Arlington County and part of the city of Alexandria, rejoined Virginia, reducing the size of D.C. to its current boundaries.The Residence Act and subsequent development of Washington, D.C. created a unique legal and political entity—neither a state nor part of one. This status continues to affect the rights and representation of its residents, a legal debate that remains active today.An $8 billion shareholder lawsuit against Meta CEO Mark Zuckerberg and other current and former company leaders began this week in Delaware's Chancery Court, focusing on alleged failures to uphold Facebook's 2012 privacy agreement with the Federal Trade Commission (FTC). The plaintiffs argue that Zuckerberg, Sheryl Sandberg, Peter Thiel, Marc Andreessen, Reed Hastings, and others knowingly allowed Facebook user data to be harvested—specifically in relation to the Cambridge Analytica scandal that surfaced in 2018. That breach led to a record $5 billion FTC fine, which shareholders now want the defendants to personally reimburse, along with additional legal costs.The trial, presided over by Chief Judge Kathaleen McCormick, will feature testimony from several high-profile witnesses, including White House Chief of Staff Jeffrey Zients, who served on Meta's board from 2018 to 2020. Plaintiffs claim Zuckerberg profited by selling Facebook stock before the public learned of the data misuse, allegedly netting over $1 billion. Defendants deny all wrongdoing, maintaining they relied on compliance experts and were misled by Cambridge Analytica.This is the first oversight liability case of its kind to reach trial, a notoriously difficult claim under Delaware corporate law. Meta itself is not named as a defendant, and the company has declined to comment, though it has previously stated it has invested heavily in privacy protections since 2019.Facebook privacy practices the focus of $8 billion trial targeting Zuckerberg | ReutersKilmar Abrego, a Salvadoran migrant wrongly deported from the U.S. despite legal protections, is scheduled to appear in a Tennessee federal court on smuggling charges, though the future of his case remains murky. Abrego had been living legally in Maryland with a work permit and was protected by a 2019 court order barring deportation to El Salvador due to threats of gang violence. Nonetheless, he was deported in March and imprisoned there before being returned to the U.S. after federal prosecutors indicted him for allegedly participating in a human smuggling operation.He has pleaded not guilty, and his lawyers claim the charges are politically motivated—a cover for the Trump administration's mishandling of his case. They also challenge the credibility of prosecution witnesses, who are alleged co-conspirators seeking to avoid their own deportation or charges. A magistrate judge ordered Abrego released on bail, but prosecutors are appealing, arguing he poses a flight risk and should remain detained. Even if released from criminal custody, immigration officials have said they plan to detain him immediately for possible deportation.Judge Waverly Crenshaw is expected to hear arguments and potentially rule on his bail status. Abrego's attorneys have asked to delay any release until Wednesday to prevent sudden removal before he can challenge deportation. The administration has signaled it may try to deport him to a third country—possibly Mexico or South Sudan—instead of El Salvador. His case has become emblematic of broader concerns over due process in the Trump administration's aggressive immigration enforcement agenda.Returned deportee Abrego due in Tennessee court; future of smuggling case uncertain | ReutersMilbank, a prominent New York-based law firm, is representing the cities of Newark and Hoboken in a lawsuit brought by President Donald Trump's administration over their immigration policies. The federal suit, filed in May, accuses the cities of obstructing immigration enforcement by acting as “sanctuary jurisdictions.” Milbank's defense team includes notable figures like former acting U.S. Solicitor General Neal Katyal and ex-New Jersey Attorney General Gurbir Grewal, now both partners at the firm.Milbank's involvement in the case comes just months after it agreed to a deal with the Trump administration to avoid being targeted by executive orders aimed at major law firms. Trump had accused those firms of politicizing legal work and using racial diversity initiatives improperly. In response, several firms—including Milbank—committed to providing nearly $1 billion in pro bono legal services to mutually agreed-upon causes. Milbank set aside $100 million as part of its agreement, though it was not formally sanctioned.Despite that arrangement, Milbank has taken on multiple high-profile cases opposing the Trump administration. In addition to defending Newark and Hoboken, Katyal is leading two other cases challenging Trump policies, including import tariffs and alleged wrongful termination of a federal board member. The firm's role in these cases highlights its continued legal pushback against the administration, even while navigating its negotiated settlement with the White House.Law firm Milbank defends NJ cities in Trump immigration lawsuit | ReutersA piece I wrote for Inside Higher Ed this week argues that tax policy deserves a central place in the undergraduate liberal arts curriculum—not as a technical specialty but as a cornerstone of civic education. I open by reflecting on the tax legislation passed under President Trump, that is the One Big Beautiful Bill Act, noting how its complexity served political ends by shielding its full implications from public understanding. That opacity, I suggest, is not accidental—and it's exactly why we need to teach tax more broadly.In my course at Drexel University, “Introduction to Tax Theory and Policy,” I approach tax not as accounting or law but as a form of civic infrastructure. The course welcomes students from all majors, encouraging them to think about taxation in terms of fairness, power, and values. We explore how tax policy shapes economic behavior, redistributes resources, and reflects assumptions about what and whom government should support. Students analyze topics ranging from estate taxes to digital surveillance and propose their own reforms grounded in ethical and civic reasoning.By demystifying the tax code and framing it as a site of public decision-making, I aim to empower students to see themselves not just as subjects of tax policy but as potential shapers of it. Their engagement—often surprisingly enthusiastic—reveals a hunger for this kind of critical, values-based education. Ultimately, I argue that tax belongs in the liberal arts because it teaches students not just how the world works, but how it's been made to work—and how it could be remade more equitably.Tax Policy Belongs in Liberal Arts Curriculum (opinion) This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe
Steve Forbes warns that lost in the endless conversation about tariffs is the issue of the tax wedge, a calculation that shows the real distance between a consumer and the ability to purchase a product, and how the new levies imposed by President Trump will create barriers to business.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes explains that President Trump can take on the Federal Reserve in its intransigent refusal to cut rates: have the Treasury issue bonds in gold, which would provide a simple, everyday metric as to whether Washington is undermining the dollar's integrity or maintaining its value.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes lays out a tough set of proposals President Trump should immediately employ against Russia—including hardline sanctions, sending Ukraine major weapons, and freezing Russian assets—to finally end the invasion of Ukraine.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
On this episode of Your Retirement Radio Podcast, Kevin discusses the implications of potential tax changes on Social Security, the resilience of the economy amidst market volatility, and the importance of understanding investment risks in retirement. The conversation also covers the transition from traditional pensions to 401(k) plans and emphasizes the need for a sustainable retirement income strategy. Get Your Complimentary Retirement Roadmap Your roadmap will include: A retirement income strategy A test to see how long your money will last A tax-planning strategy See omnystudio.com/listener for privacy information.
Nebraska lawmakers overcame a significant shortfall through the passage of this year's budget, but more fiscal trouble may be on the horizon. On the final day of this year's legislative session in June, Speaker John Arch made a prediction on the focus of the legislature's return in 2026. “I will predict that our biggest challenge next year will be our budget,” he said. “Once again, we sent a balanced budget to the governor, but we always face mid-biennium budget adjustments, and next year will be no different. And in fact, could be more challenging” So how did Nebraska get into this situation in the first place?
As the end of the 90-day tariff pause looms, we think immutable economic laws will limit extreme policy changes. Nicholas Fawcett, Senior Economist at the BlackRock Investment Institute, discusses how the U.S. administration is shifting to more market-friendly policies, including tax cuts and regulatory reforms. General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2025 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BIIM0625U/M-4622331
Brad Young in for Chris Rongey today. Leaders from Covenant House join Amy and Brad to discuss their local efforts; could the government tax the rich even more?; Matt Pauley says the sweep of the Guardians was impressive; is a Webster restaurant going too far to stop weed smells?
Steve Forbes calls out the Federal Reserve for its refusal to reduce interest rates due to its animus against President Trump, who attacks Chair Jerome Powell routinely—and explains why DOGE-like massive reforms are required to put the central bank back on course.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this episode of The Electorette, host Jen Taylor-Skinner speaks with Jessica Fulton, senior fellow with the Joint Center for Political and Economic Studies, about the 2025 budget bill—rebranded by conservatives as the "Big Beautiful Bill"—and the devastating consequences it could have for Black households. Rooted in the Joint Center's policy brief, Centering Black Households in the 2025 Tax Debate, the conversation exposes how proposals like extending the 2017 Tax Cuts and Jobs Act would continue to funnel wealth to high-income, disproportionately white households—while offering temporary, shallow benefits to working-class families. Jessica explains how policies that sound equitable on the surface—like tax deductions for tipped workers, child tax credits, and overtime exemptions—actually reinforce economic exclusion. Together, they explore how tax policy has long been used as a tool of racialized wealth-building and why understanding these “wonky” details is essential to building a more equitable economy. They also touch on the dangers of cutting Pell Grants, dismantling agencies that support Black-owned businesses, and using budget reconciliation to pass policies that will have generational consequences. This episode is a powerful call for greater transparency, stronger advocacy, and inclusive policymaking that truly supports all families—not just the wealthiest. Episode Chapters: (00:00) Tax Code, Wealth, and Racial Inequality The Federal Tax Code perpetuates racial inequality, with implications for Black households, through policies like the 2025 Budget Bill. (12:23) Tax Policy and Racial Disparities Changes to child tax credit privilege higher-income households, exclude poorest families, and perpetuate systemic inequities. (23:56) Tax Policy and Worker Income Nature's financial burdens on low-income workers, tax treatment of tips and overtime pay, and erosion of worker protections. (27:28) Tax Policies and Working Class Disadvantages Tax policies can privilege certain workers, have political motivations, and create disparities between demographic groups. (39:47) Tax Code and Racial Disparities Examining how race affects taxation and economic disparities, and the importance of understanding and challenging these systems. Learn more about your ad choices. Visit megaphone.fm/adchoices
Steve Forbes shares his unvarnished reaction to the Federal Reserve's continued refusal to cut interest rates due to its absurd belief in the patently false premise that to control inflation, it must deliberately try to stimulate or depress economic activity.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes explains that in this extremely precarious geopolitical situation, President Trump must stay firm by backing Israel against Iran and Ukraine against Russia.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Congress is in the middle of a high-stakes budget debate that includes fighting over tax policy and funding for many vital public programs. But what's often missing from that budget debate is a focus on the people these decisions affect, especially kids. Professor Jean Junior explains how tax policy choices made on Capitol Hill directly affect health and well-being, and why taxes can be a powerful tool to improve health outcomes for everyone. Drawing from her experience as a pediatrician, Professor Junior challenges us to see policy choices through the eyes of a doctor by putting people's well-being first. For more on this topic: Read Junior's SSN brief, Tax Policy as a Potential Tool for Reducing Infant Mortality. Check out her study, Association of State-Level Tax Policy and Infant Mortality in the United States, 1996-2019.
In this episode, Eric Ludwig, PhD, CFP®, Retirement Income Certified Professional® (RICP®) Program director at The American College of Financial Services, speaks with Tax Planning Certified Professional™ (TPCP™) Program director Sophia Duffy, JD, CPA, AEP® about the possible tax policy changes contained in the “One Big Beautiful Bill Act” currently making its way through Congress. In addition to making many of the changes put in place in the 2017 Tax Cuts and Jobs Act (TCJA) permanent, they discuss some exciting possibilities for tax-informed financial planning, including new exemptions and deductions for business owners (such as financial advisors!), expanded uses for 529 and HSA accounts, cap changes for state and local taxes, and more. Find all episodes at TheAmericanCollege.edu/Shares.
In this episode, panelists discuss potential impacts of budget reconciliation on the real estate sector.
Tax transparency has moved from a compliance burden to a strategic business imperative. In this episode of the EY Tax and Law in Focus podcast, we explore how increasing disclosure requirements, global cooperation, and evolving expectations from stakeholders are redefining the role of the tax function.Susannah Streeter is joined by Aruna Kalyanam, EY Global in Americas Tax Policy Leader; Jose Murillo, EY Americas International Tax and Transactions Services Leader; and Manal Corwin, Director of the OECD Centre for Tax Policy and Administration. Together, they discuss the origins of the global transparency movement, the role of data and AI in modern tax functions, and how businesses can turn regulatory change into long-term value.EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. The views of third parties set out in this publication are not necessarily the views of the global EY organization or its member firms. Moreover, they should be seen in the context of the time they were made.
In this episode, Justin and Jared discuss the federal deficit, the funding status of Social Security, and what that may mean for future tax policy and retirement planning for oil and gas professionals. For more information and show notes visit: https://www.bwmplanning.com/post/105Connect With Us:Facebook - https://www.facebook.com/BrownleeWealthManagement/?ref=py_cLinkedin - https://www.linkedin.com/company/brownlee-wealth-management/Disclosure: This information is for informational purposes only. Nothing discussed during this video should be interpreted as tax, legal, or investment advice. If you have questions pertaining to your specific situation, please consult the appropriate qualified professional.
Steve Forbes makes the case to abolish or at least substantially reform the Congressional Budget Office, calling out the agency's consistent patterns of error that have consistently misled policymakers and thrown a wet blanket on economy-boosting tax cuts.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Featuring Brian Galle, the Agnes Williams Sesquicentennial Professor of Tax Policy at Georgetown University Law Center, an expert on taxation and nonprofits. Galle recently served as a senior fellow in the division of corporation finance at the Securities and Exchange Commission. He joins us to talk about the proposed tax on university endowments now making its way through Congress. The Republican House Ways & Means Committee issued a press release proclaiming that their bill “holds woke, elite universities that operate like major corporations . . . accountable.” What is the endowment tax and what is its significance for the future of higher education? - 6/11/25
It is time for more proactive thinking on tax policy, which can no longer be guided only by the limited objective of revenue maximisation or hawkish enforcement to meet steep internal targets.
With the "One Big, Beautiful Bill" passed by the House, Talking with One Voice hosts Omar Nashashibi, Caitlin Sickles, and Paul Nathanson discuss the bill's prospects in the Senate and the timeline for passage by the President's July 4th deadline. They highlight manufacturers' wins in the House bill, including R&D expensing, bonus depreciation, small business expensing, and more. The conversation then turns to the President's June 4 doubling of steel and aluminum tariffs and the next steps in the court cases challenging the IEEPA tariffs.
In this episode of State of the Arc, I cover four high-impact stories shaping the future of welding and manufacturing in America. First, we break down the trends transforming global manufacturing through 2028—from smart factories to sustainability pressures. Next, we explore new welding challenges and solutions in the heavy equipment sector. Then, we turn to the Infrastructure Investment and Jobs Act and what it means for welding jobs across the country. Finally, we take a close look at how federal tax policies—and proposed changes like eliminating taxes on overtime—could reshape the financial future for welders and other skilled tradespeople. This week's Welding History Fact celebrates the unsung welders behind the construction of the Golden Gate Bridge—an iconic American structure that wouldn't exist without pioneering welding techniques in the 1930s.
Deroy Murdock joins Ryan Wiggins and Brad Range to break down the federal budget and tax policy. They discuss proposals to return spending to pre-COVID levels, including a $275 billion cut to discretionary spending. Deroy weighs in on potential corporate tax reductions to 15% for US manufacturers and the ongoing debate around SALT deductions. The conversation covers the so-called “Big Beautiful Bill,” contrasting views from Trump and Elon Musk, and political hurdles like tight congressional majorities and partisan divides impacting budget negotiations.
Steve Forbes makes the case for privatizing Fannie Mae and Freddie Mac, a move that has just been proposed by President Trump.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
By the time it works through Congress to President Trump's desk, The One, Big, Beautiful Bill will probably have a few different details, and a different name. But the version of the bill that recently passed in the House gives us a fair indication of where tax policy could be headed for the next few years. On today's show, we discuss the current version of the 2025 tax bill, potential changes that Congress might make, and potential ways this bill could affect your financial plan.
Steve Forbes warns the U.S. Senate to remove the "Revenge Tax," an onerous markets-focused levy that would end up as Section 899 of the Federal Tax Code, from the Big Beautiful Bill currently being considered.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes explains that the trade war could get even worse if President Trump invokes a barely-known section of the Smoot-Hawley Tariff Act, which might obviate even the toughest court decisions blocking his hardline tariffs.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes explains why a new 3.5% levy on remittances in congressional Republicans' "Big Beautiful Bill" should be scrapped immediately—or we will see a sharp uptick in money laundering.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes explains how U.S. fecklessness could allow Vladimir Putin to pull off a victory in Ukraine—and warns that a successful act of aggression by Russia will only embolden China's expansionist aims.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Topics include: DC update: Latest developments from Capitol Hill and their potential impact CPA licensure: Examining CPA different models and the talent pipeline Technical update: Actionable guidance for your practice Payment transformation: Insights into digital transformation in the office of CFO and small business Speakers: Erik Asgeirsson, President and CEO, CPA.com Mark Koziel, President and CEO, AICPA Mark Peterson, EVP, Advocacy, AICPA Melanie Lauridsen, VP, Tax Policy and Advocacy, AICPA Daniel J. Dustin, President and CEO, NASBA René Lacerte, CEO, BILL
Steve Forbes urges President Trump and his team to go back to following the Laffer Curve, economist Art Laffer's economic formula which fueled the American comeback of the 1980s and 1990s, in order to unleash today's economy and make a brighter future.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Tax policy has been a core part of the Republican party. A central feature within the GOP, particularly since Reagan, has been cutting taxes for corporations and some of the wealthiest Americans. President Trump, breaking away from traditional party orthodoxy, recently raised the idea of increasing taxes on some of the country's richest. Our guest this week points out that Republicans have made a “devil's bargain” with Trump. Arjun Singh is the co-host and senior producer of the Lever Time podcast. He is also the lead reporter and editor of the Tax Revolt miniseries. He joins WITHpod to discuss historical and contemporary fights over taxes, coalitions effects of MAGA, what the latest intraparty disagreements could portend and more.
Steve Forbes explains how lawsuits against President Trump's tariffs will probably end up in the Supreme Court—and if modern history is instructive, the nation's highest court might end them sooner than anyone thinks.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes explains how the nearly catastrophic escalation in the conflict between India and Pakistan—thankfully averted due to a ceasefire engineered by the Trump Administration—demonstrates why the world is safer when the U.S. does not bend toward isolationism.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
As President Trump visits the Middle East, Steve Forbes urges his administration not to cool relations with Israel, and to green light an assault on all of Iran's nuclear facilities as soon as possible in order to bring about a more stable world.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Every bit of political capital should have been spent from day one on securing the authorities and resources for mass removals. Instead, it's been hijacked by tax policy. I first discuss the tax provisions, which are random, bizarre, and, in some cases, pure socialism. We're joined by RJ Hauman, president of the National Immigration Center for Enforcement, who updates us on his concern that the tax focus has overshadowed deportations. He believes that too much of the budgetary scoring is being used for tax provisions or even wasteful border and defense provisions when the key is ICE funding for detention and removal operations. He is also fighting to keep out bad provisions, such as the “gold cards” and paying illegal aliens a bonus to leave. Learn more about your ad choices. Visit megaphone.fm/adchoices
Steve Forbes offers some much-needed advice to Federal Reserve Chair Jerome Powell and the Board of Governors to bring some stability to the U.S. economy, including issuing some bonds backed by gold and ditching a lavish revamp of its Washington headquarters.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes explains why President Trump's second 100 days will ultimately define his presidency, hinging on how painful the impact of tariffs will be felt, whether Republicans will pass their "one big beautiful bill," and how an increasingly volatile geopolitics will either get better or worse.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes explains why the Trump Administration's proposed peace plan to end the Russia-Ukraine War would constitute a big win for Vladimir Putin and only make the world more dangerous.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.