#federal-tax-subsidies

#federal-tax-subsidies

One way is to increase income taxes. There's also the option for an annual or one-off wealth tax on everything someone has above a certain mark. A few governments want to tax extreme wealth to lower taxes on a stagnating middle class or to make up for social inequality.

The insights from this report help us think about potential gaps in the loss mitigation waterfall and the types of homeowners who may benefit from targeted support when they experience a crisis.

The tax provides more than $23 billion per year in revenue for federal highway and public transit programs. The federal gas tax has been in place, in one way or another, since 1919 and was last raised in 1993.

"They need to be treating this like the fire that it is," said Tyler Norod, president of Westbrook Development Corporation, which builds affordable housing in Maine.

An update to the tax code will enable some car buyers to write off their monthly payments on their taxes this year, with significant caveats for eligibility.

A recent analysis from Tufts University's Center for State Policy Analysis estimates it would reduce state tax revenue by roughly $5.1 billion per year - about a 10% overall decline - while saving the median Massachusetts household around $1,250 annually.

Under current law, bitcoin is treated as property, which means every purchase with the asset triggers a capital gains calculation, regardless of transaction size. BPI argues that this framework discourages routine payments, such as buying coffee or sending small remittances, because users must track cost basis and report minor gains and losses.

The bulk of the money Missouri gives to its crisis pregnancy centers comes from federal funds meant to assist families experiencing poverty with basic necessities and child care, Republican Rep. Jason Smith said on the U.S. House floor in January. As many as $3 of every $4 for pregnancy centers in Missouri was from the federal Temporary Assistance for Needy Families program in 2024, and in the 2026 fiscal year, it will be $2 out of $3.

Californians, on average, paid about $29 billion more a year in federal taxes than the state received in return over the past decade. That's the largest imbalance in the nation. By contrast, there are about 30 states that receive more money from the federal government each year than their residents pay the IRS.

EBT card theft is a huge, huge problem. In New York alone, in the first six months of last year, $14 million of SNAP benefits were stolen. We get these complaints all the time to our office.

Starting this summer, most college programs will have to show that their students earn more than someone with only a high school diploma to avoid being cut off from federal funding, as part of a new accountability measure. Congress created the earnings test known as Do No Harm when it passed the One Big Beautiful Bill Act last summer. The Education Department is still working to finalize the regulations that outline how it will work.

The government is to roll out a new £1bn-a-year support scheme designed to give people on low incomes direct access to emergency cash when they face sudden financial shocks. The Crisis and Resilience Fund, which launches in April, will run for an initial three years and replace the temporary Household Support Fund that has been extended repeatedly since its introduction during the pandemic in 2021.

Tax filing season officially begins on Monday, January 26. If you missed the news last year, the IRS has ended its Direct File Service. My home state joined the program in 2025, and while it wasn't the only free option for filing taxes, I can attest it was absolutely the easiest -- especially if your tax situation goes beyond basic W-2 forms. (I was surprised to learn that fewer than 300,000 people used the service last year.)

State of play: Democratic attorneys general fromthefivestates - California, Colorado, Illinois, Minnesota and New York - filed a lawsuit against the administration just one day prior. The Department of Health and Human Services officials claimed cutting off funding was necessary due to systemic fraud in the child care system. Yes, but: The suit, filed Thursday evening in the U.S. District Court for the Southern District of New York, alleges that the freeze was triggered by viral misinformation, political rhetoric and public threats from Trump and top officials, not by fraud findings.