House GOP tax writers call for cuts 'as soon as possible'
Republican tax leaders on Tuesday ramped up pressure on members of other parties to pass tax cuts as a top priority in Congress. “We need to make the Trump tax cuts permanent as soon as possible,” Rep. Jason Smith (R-Missouri), chairman of the Ways and Means Committee, said during the committee's first hearing in the […]
Canada seeks minerals partnership with US amid tariff threats
Where President-elect Trump sees a rivalry, he sees a potential friend in Canada. America's northern neighbor is considering an energy and minerals partnership with the United States this week, Canadian Energy and Natural Resources Minister Jonathan Wilkinson told The Hill on Tuesday. “We're also putting together an idea that is essentially an energy and minerals […]
PBMs made billions marking up specialty drugs by more than 1,000 percent: FTC
The Federal Trade Commission (FTC) released its second interim report on pharmacy benefit managers (PBMs) on Tuesday, finding that large industry intermediaries have increased their numbers through vertical integration, industry dominance, and increased prices for specialty drugs. He said it has generated billions of dollars in revenue. This report specifically focuses on the business practices […]
Canada prepared to buy more from US amid Trump tariff threats: Ambassador
Canada's ambassador to the United States has asserted that the country is ready to increase imports from the United States in response to President-elect Donald Trump's threat to increase tariffs. “We want to source as much as possible from the United States, and we have some large-scale military procurements coming up, for example to replace […]
Consumer bureau sues Capital One for 'cheating' customers on savings account interest
The government's consumer watchdog group sued Capital One on Tuesday, accusing it of “defrauding” customers of billions of dollars in interest. Consumer Financial Protection Bureau (CFPB) Accusing big banks Despite promising the “highest'' and “highest'' interest rates in the country, interest rates on 360 savings accounts will be frozen at a low level due to […]
Trump says he’s creating ‘External Revenue Service’ for tariffs
President-elect Trump said Tuesday that he wants to create an “Internal Revenue Service” that would collect customs duties and other revenue from foreign countries, similar to the Internal Revenue Service (IRS), which collects taxes from Americans. “For too long, we have relied on using the Internal Revenue Service (IRS) to tax the greats. Through soft […]
TikTok denies reports of sale to Elon Musk: 'pure fiction'
TikTok has denied reports that Chinese authorities are considering selling its U.S. operations to tech billionaire and Trump ally Elon Musk ahead of a possible ban on Sunday. , called the report “complete fiction.” TikTok spokesperson Michael Hughes said in a statement that “we cannot be expected to comment on pure fiction.” The popular video-sharing […]
How Trump's Greenland demands could impact Ozempic costs
President-elect Donald Trump's threat to impose tariffs if Denmark resists his plan to acquire Greenland territory could disrupt Ozempic, one of America's most popular exports. President Trump has added Denmark to a list of targets for tariffs that includes Canada, Mexico and China, as he ramps up his rhetoric about the United States taking Greenland […]
5 ways the debt limit fight could play out under Trump
President-elect Trump and Congressional Republicans are planning how to deal with the national debt ceiling this year. The debt ceiling, which limits the amount the Treasury can take on to pay the nation's bills, was reset earlier this month after being suspended for the past year and a half. The national debt currently exceeds $36 […]
Koch-backed group unveils $20M campaign highlighting Trump tax cuts
Americans for Prosperity (AFP), a conservative political action committee backed by Charles Koch, has launched a $20 million advertising blitz to support President-elect Trump's Tax Cuts and Jobs Act (TCJA). announced that it would start. According to AFP news agency in a statement On Monday, the administration announced in a nationwide advertising campaign that President […]