The federal budget deficits caused by President Donald Trump’s tax and spending law could trigger automatic cuts to Medicare if Congress does not act, according to the nonpartisan Congressional Budget Office.

P resident Donald Trump has removed Billy Long, the head of the Internal Revenue Service (IRS), and temporarily replaced him with Treasury Secretary Scott Bessent, The Associated Press and New York Times reported on Friday. Long announced on social media after the news broke that he will take on a new role as the U.S. ambassador to Iceland.

Like many who may be reading this piece, I’m honored to have a few friends I’d say would be on the upper-middle-class (if not upper-class) end of the spectrum. When it comes to tax return time, they’re the type to moan and groan (whereas most may be cheering the refund that will hit their account

President Donald Trump’s tax and spending law will result in less income for the poorest Americans while sending money to the riches, according to a new report from the nonpartisan Congressional Budget Office.

The One Big Beautiful Bill Act, signed by President Trump on July 4, 2025, introduces significant tax reforms aimed at reducing the tax burden for Americans. Among its provisions, three key deductions stand out,

Billy Long, who was sworn in just under two months ago, was already the sixth person to hold the job this year. He told NBC News he will be the next U.S. ambassador to Iceland.

President Donald Trump has removed former U.S. Rep. Billy Long as IRS commissioner less than two months after his confirmation.

Trump's Social Security reforms cut wait times, eliminated taxes for most seniors, and boosted service efficiency, the White House announced.

President Trump defends Social Security program achievements amid Democratic criticism, highlighting zero taxes for most seniors and improved customer service

President Donald Trump’s move to extract a 15% sales tax from Nvidia Corp. on certain semiconductors sold in China did nothing to damp investor enthusiasm for the world’s most valuable company.

Finta, a San Francisco-based tax-and-accounting software startup with fewer than a dozen employees, plans to fill five positions, including software engineers, in the U.S. instead of abroad by the end of the year, founder Andy Wang said. “The change makes domestic R&D far more attractive.”