The IRS has announced its inflation adjustments for the 2027 tax year, raising the standard deduction to $33,200 for married couples filing jointly and $16,600 for single filers. The maximum Child Tax Credit will increase to $2,300 per qualifying child, while income tax brackets and other provisions will be adjusted for inflation. The annual adjustments are a reminder of the broader tax relief enacted through the Working Families Tax Cuts in 2025. The law made lower individua

American voters delivered a strongly negative assessment of President Donald Trump's tariff policies in the 2026 midterm elections, creating an opportunity for Congress to reconsider trade restrictions that have raised costs for consumers and businesses. According to national exit polling, 66% of voters said Trump's tariffs had hurt the national economy, compared with just 21% who believed they had helped. Voters were similarly critical of the effects closer to home, with 64%

The stock market has generated substantial wealth for American investors over the past four decades, yet millions of workers have had little opportunity to benefit from those gains through their retirement savings. Social Security requires workers to contribute a portion of every paycheck to a government-run retirement system without giving them the option to invest those taxes in personally owned retirement accounts. Allowing workers to invest a portion of their Social Secur

Business investment in equipment surged 20.9% at an annualized rate in the third quarter of 2026, reinforcing the economic case for permanent full expensing under the Working Families Tax Cuts. The sharp increase comes as businesses take advantage of tax provisions that allow them to immediately deduct the cost of qualifying equipment purchases, reducing the tax burden on investment and encouraging expansion. According to the Bureau of Economic Analysis (BEA), nonresidential

Obamacare premiums are set to increase by an average of 13% in 2027, placing additional financial pressure on Americans who purchase coverage through the Affordable Care Act (ACA) marketplaces. The latest increase follows years of rising insurance costs and raises questions about whether the law's regulatory framework can deliver affordable coverage without continued federal subsidies. According to an October 30 report from The New York Times, middle-income Americans face ano

State and local governments have accumulated more than $6 trillion in debt, with some of the highest per-capita burdens concentrated in blue states with a history of high government spending. A new Reason Foundation report finds that New York, New Jersey, Connecticut, Illinois, and Hawaii each carry more than $30,000 in state and local government debt per resident. The findings raise concerns about the long-term costs of government spending and the financial obligations being

The Treasury Department's proposed restrictions on U.S. investment in Chinese biotechnology companies could have unintended consequences for American patients seeking access to new medicines. While the government has a legitimate interest in preventing American investments from strengthening China's military capabilities, overly broad restrictions could interfere with pharmaceutical research and development that has little connection to national security. The Comprehensive Ou

A Georgia social media influencer who flaunted private jets, luxury cars, and stacks of cash has been indicted for allegedly stealing more than $4 million in federal food assistance benefits. Federal prosecutors accuse Mercedes Reshard New, known online as "Shawty Dred," of using stolen identities to establish more than 340 fraudulent Supplemental Nutrition Assistance Program (SNAP) accounts over six years. According to the Atlanta Journal-Constitution, New allegedly transfer

The Centers for Medicare & Medicaid Services (CMS) is proposing new transparency requirements for pharmacy benefit managers (PBMs), building on legislation Congress passed earlier this year to address prescription drug pricing practices that can drive up costs for patients and health plans. The proposed rule would require greater disclosure of PBM compensation and financial arrangements under Medicare Part D. It follows years of concern that PBMs can profit from complicated p