Tag: taxes

Trump Admin To Lend “Hundreds Of Billions” To Build Nuclear Power Plants

While the market is finally starting to grapple with the most unpleasant question of who will plug the funding gap needed to build out all the data centers required to make the AI dream a reality, a gap which Morgan Stanley recently calculated would be as large as $2.9 trillion in capex funding needs, of which at least $1 trillion will come in the form of debt (and mostly private debt)…

… there is another, just as critical question: who will fund the energy buildout that powers these data centers? 

Recall, last December Morgan Stanley calculated that the US would need at least 36GW in new power to be brought online by 2028 to energize all the (yet to be built) data centers, a number which one year later is surely far higher. 

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US To Build Base On Gaza Border – Thousands Troops To Support Ceasefire

This story is developing…

The Hebrew news outlet YNET is reporting the United States will spend $500 million to establish a base on the Gaza border in order to ensure implementation of the Gaza peace deal negotiated by The White House. The location is reported to host ‘thousands’ of American troops.

In related news, YNET is reporting Hamas is regaining control over the Gaza population as residents move to camps in Gaza due to the inability of residents to live amongst the rubble.

The next stage of the Trump plan envisions a further IDF withdrawal beyond the yellow line, creation of a transitional governing authority, deployment of a multinational force to replace Israeli troops, Hamas’s disarmament, and the start of reconstruction. But no timelines or enforcement mechanisms have been agreed upon. Hamas refuses to disarm, Israel opposes any Palestinian Authority involvement, and uncertainty persists over the multinational force.

“We’re still working out ideas,” Jordanian Foreign Minister Ayman Safadi said this month at a security conference in Manama. “Everybody wants this conflict over, all of us want the same endgame here. Question is, how do we make it work?”

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OpenAI asked Trump administration to expand Chips Act tax credit to cover data centers

A recent letter from OpenAI reveals more details about how the company is hoping the federal government can support the company’s ambitious plans for data center construction.

The letter — from OpenAI’s chief global affairs officer Chris Lehane and addressed to the White House’s director of science and technology policy Michael Kratsios — argued that the government should consider expanding the Advanced Manufacturing Investment Credit (AMIC) beyond semiconductor fabrication to cover electrical grid components, AI servers, and AI data centers.

The AMIC is a 35% tax credit that was included in the Biden administration’s Chips Act.

“Broadening coverage of the AMIC will lower the effective cost of capital, de-risk early investment, and unlock private capital to help alleviate bottlenecks and accelerate the AI build in the US,” Lehane wrote.

OpenAI’s letter also called for the government to accelerate the permitting and environmental review process for these projects, and to create a strategic reserve of raw materials — such as copper, alumimum, and processed rare earth minerals — needed to build AI infrastructure.

The company first published its letter on October 27, but it didn’t get much press attention until this week, when comments by OpenAI executives prompted broader discussion about what the company wants from the Trump administration.

At a Wall Street Journal event on Wednesday, CFO Sarah Friar said the government should “backstop” OpenAI’s infrastructure loans, though she later posted on LinkedIn that she misspoke:  “OpenAI is not seeking a government backstop for our infrastructure commitments. I used the word ‘backstop’ and it muddied the point.”

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Leaked Call Exposes State Department-Backed “Color Revolution” with Global Partners — Ex-USAID Staff Admit Coordinating Encrypted Networks and Foreign NGOs Against Trump Administration

A new bombshell thread from investigative reporter DataRepublican on X exposes a disturbing glimpse inside what appears to be a State Department-led color revolution operating through USAID, foreign NGOs, and left-wing organizations funded by billionaire George Soros.

According to newly surfaced recordings shared by DataRepublican on X, former USAID employees openly discussed moving internal groups off federal systems into encrypted Signal chats ahead of the presidential inauguration, and then linking up with international partners to ‘mobilize against authoritarianism.’

The recordings themselves, taken from what appears to be a USAID virtual meeting, capture staff boasting about building “coordination structures” with Johns Hopkins University, international “democracy and conflict mitigation spaces,” and “colleagues from around the world” who had “dealt with this directly.”

In one clip, a USAID staff member named Van(she/her) describe how, prior to January 20, they migrated internal communications away from government servers and onto encrypted Signal chats, linking with “transition initiative” programs designed for foreign regime-change operations.

She describes moving internal communication channels away from USAID’s main systems “into Signal chats to protect our community,” citing fears of reprisal from the incoming Trump administration.

After the inauguration, Van confirmed that contractors immediately set up “Stop Work Order” websites and private communication groups to coordinate messaging, claiming it was a “response to disinformation.”

Within weeks, hundreds of staff reportedly joined these encrypted groups as the agency’s leadership was decapitated and “administrative leave” orders were issued.

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Trump Proposes $2,000 Check to Americans From Tariff Revenues

President Donald Trump announced on Nov. 9 plans to offer Americans outside of “high income” brackets $2,000 each out of his administration’s tariff revenues.

“We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion,” Trump wrote on social media. “Record Investment in the USA, plants and factories going up all over the place. A dividend of at least $2000 a person (not including high income people!) will be paid to everyone.”

The proposal would likely need the support of Congress to pass. In July, Sen. Josh Hawley (R-Mo.) introduced the American Worker Rebate Act, which aimed to use tariff revenue for tax rebates of at least $600 per adult and child, determined by income level.

Trump had also first floated the idea of giving Americans a $2,000 “dividend” funded by tariff revenue while speaking with One America News Network in early October, when he said the federal government could use some of the revenue to issue rebate checks.

The president’s announcement on Nov. 9 came just days after the Supreme Court heard arguments over the legality of his global tariff agenda imposed earlier this year. Justices probed Trump’s use of the International Emergency Economic Powers Act, which allows presidents to regulate imports in response to emergencies. Congress, through Article 1 of the Constitution, has the authority to impose tariffs.

Some justices seemed skeptical of Trump’s use of that law to impose tariffs, while others were more difficult to read, casting uncertainty over the eventual ruling and what it will mean for the president’s tariff agenda.

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Trump team is secretly handing out massive tax breaks to wealthy American corporations: report

The Trump administration has been giving additional massive tax breaks to uber-wealthy corporations through under-the-radar notices, according to a report.

Through proposed regulations, the Treasury Department has offered tax relief to private equity firms, crypto companies, foreign real estate investors, and other large corporations, the New York Times first reported.

For example, in October, the IRS issued new proposed regulations that would provide breaks to foreign investors in U.S. real estate. In August, the IRS proposed a rollback of rules to prevent multinational corporations from dodging taxes by claiming duplicate losses in multiple countries.

The notices have not made headlines, but have been flagged by accounting and consulting firms.

“Treasury has clearly been enacting unlegislated tax cuts,” Kyle Pomerleau, a senior fellow at the think-tank American Enterprise Institute, told the Times. “Congress determines tax law. Treasury undermines this constitutional principle when it asserts more authority over the structure of the tax code than Congress provides it.”

The recent IRS tax notices tack on to the tax relief laid out in President Donald Trump’s “One Big Beautiful Bill” Act, which included the extension of the so-called “Trump tax cuts” from 2017 that the Congressional Budget Office estimated would reduce tax revenue by $4 trillion in the next decade.

The Independent has contacted the Treasury Department for comment.

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Deal Reached To End The Government Shutdown

After more than a month of gridlock, the U.S. Senate has reached a bipartisan deal to reopen the federal government. The agreement, struck after days of tense negotiations, appears to have the backing of both Senate Democrats and Republicans, paving the way for the shutdown to finally end.

The deal was spearheaded by Senators Angus King (I-Maine), Jeanne Shaheen (D-N.H.), and Maggie Hassan (D-N.H.), working alongside several GOP colleagues. According to sources familiar with the talks who spoke to Politico, the agreement has “more than enough” Democratic support to advance through the Senate. Lawmakers are expected to vote Sunday night to advance the House-passed stopgap measure, which will serve as the vehicle for the broader funding package.

The new agreement would fund several key areas of government for the rest of the fiscal year, including the Department of Agriculture, the Food and Drug Administration, the Department of Veterans Affairs, military construction projects, and congressional operations. All remaining agencies would be funded through January 30 under a continuing resolution released Sunday evening.

As part of the compromise, Senate Majority Leader John Thune (R-S.D.) has agreed to give Democrats a vote in December on extending Affordable Care Act subsidies set to expire at the end of the year. Importantly, Democrats will be able to determine which version of that extension receives consideration. The deal also ensures that federal workers who were furloughed or laid off during the shutdown will be rehired and receive back pay once the government reopens.

The announcement follows growing pressure on lawmakers as the shutdown entered its sixth week, disrupting pay for hundreds of thousands of federal employees, halting nonessential services, and straining public patience. The political standoff, which began over disagreements surrounding Obamacare subsidies and long-term spending levels, had become a major test for both parties.

President Donald Trump, who has publicly backed Senate Republicans throughout the negotiations, reportedly supports the agreement. Conservative commentators praised the outcome, arguing that the deal heavily favors the GOP’s negotiating position.

“President Trump successfully gave Senate Republicans unbelievable leverage, forcing ‘moderate’ Democrats to cave,” political commentator Eric Daugherty wrote on X. “Funding set to be through Jan. 30th. No Obamacare subsidies. The only main GOP concession? Simply allow an ACA vote next month. No guarantee on passing or supporting it.”

Others hailed the deal as a strategic victory for Trump, pointing out that Democrats failed to secure new spending commitments or long-term extensions of ACA provisions.

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Trump administration demands states ‘undo’ full SNAP payouts as states warn of ‘catastrophic impact’

President Donald Trump’s administration is demanding states “undo” full SNAP benefits paid out under judges’ orders last week, now that the U.S. Supreme Court has stayed those rulings, marking the latest swing in a seesawing legal battle over the anti-hunger program used by 42 million Americans.

The demand from the U.S. Department of Agriculture came as more than two dozen states warned of “catastrophic operational disruptions” if the Trump administration does not reimburse them for those SNAP benefits they authorized before the Supreme Court’s stay.

Nonprofits and Democratic attorneys general sued to force the Trump administration to maintain the program in November despite the ongoing government shutdown. They won the favorable rulings last week, leading to the swift release of benefits to millions in several states, and the Trump administration belatedly said the program could continue.

On Friday night, however, Justice Ketanji Brown Jackson temporarily paused the two rulings ordering the SNAP disbursement while the nation’s highest court considered the Trump administration’s appeal. That led the Department of Agriculture on Saturday to write state SNAP directors to warn them it now considers payments under the prior orders “unauthorized.”

States could face penalties for paying benefits

“To the extent States sent full SNAP payment files for November 2025, this was unauthorized,” Patrick Penn, deputy undersecretary of Agriculture, wrote to state SNAP directors. “Accordingly, States must immediately undo any steps taken to issue full SNAP benefits for November 2025.”

Penn warned that states could face penalties if they did not comply. It was unclear if the directive applies to states that used their own funds to keep the program alive or to ones relying on federal money entirely. The Department of Agriculture did not immediately respond to a request for comment.

In a filing in federal court on Sunday, the agency said states moved too quickly and erroneously released full money SNAP Benefits after last week’s rulings.

U.S. Sen. Lisa Murkowski of Alaska, a Republican, on Sunday called the directive “shocking” if it applies to states, like hers, that used their own money to prop up the program.

“It’s one thing if the federal government is going to continue its level of appeal through the courts to say, no, this can’t be done,” Murkowski said. “But when you are telling the states that have said this is a significant enough issue in our state, we’re going to find resources, backfill or front load, whatever term you want, to help our people, those states should not be penalized.”

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Woman Exposes Massive Medicaid Fraud Scheme in Democrat-Run Minnesota

Medicaid’s collapse into waste and fraud hit home for Erna Hammerschmidt, exposing how career politicians built a system they can no longer control.

After overcoming years of addiction and rebuilding her life, Erna discovered that her name had been used to bill the government for services she never received. 

A company she had never even met was charging taxpayers nearly $200 several times a week, claiming to have provided “mental health services.” 

It is one of countless examples of how America’s welfare bureaucracy—especially under Democrat-led states such as Minnesota—has turned into a money pipeline for fraudsters.

The Minnesota Department of Human Services has been under fire for years for failing to detect and stop widespread Medicaid and housing assistance scams. 

Under failing Governor Tim Walz, the department has wasted millions through weak oversight, political favoritism, and bloated contracts handed to “community care” groups that exist only on paper. 

These programs were meant to help people like Erna, not exploit them. 

But instead of accountability, taxpayers received excuses, “internal reviews,” and bureaucrats promising to “expand data analytics.” That means more consultants, more red tape, and no real results.

Donald Trump warned about this years ago. He is the only national leader with the courage to say what others were afraid to admit—the welfare bureaucracy in America is corrupt from top to bottom. 

It is not a matter of a few “bad actors”; rather, it is a system designed to enrich politically connected insiders. 

While Democrats in Minnesota pretend that fraud is a “racial issue,” as the owner of the company claimed, Trump’s message is clear: every dollar stolen from Medicaid is a dollar stolen from honest taxpayers and families who truly need help.

The Republican establishment deserves no credit either. 

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Tariffs, Tobacco, and Policy Whiplash

When politicians talk tough on trade, they usually promise to protect American jobs. But sometimes those gestures do the opposite. The Trump administration’s proposed 100 percent tariff on large cigars imported from Nicaragua is a case in point. According to my latest research, the tariff would shrink US GDP by $1.26 billion, reduce total output by $2.06 billion, eliminate nearly 18,000 jobs, and cost state and local governments $95 million in tax revenue.

There is no domestic industry to protect. The United States produces almost no large cigars, which are rolled by hand from long tobacco leaves and sold through tobacconists, cigar lounges, and small brick-and-mortar shops. Roughly 60 percent of all 430 million cigars imported each year come from Nicaragua. Doubling landed import costs would devastate the 3,500 retailers and 50,000 workers whose livelihoods depend on that trade.

Worse, this tariff reverses one of the administration’s genuine policy successes—its early effort to limit the Food and Drug Administration’s overreach into small-batch cigars and other low-risk nicotine products. It also repeats the same arbitrary logic behind the FDA’s recent warning letter to NOAT—a Swedish company selling mild, recyclable nicotine pouches already cleared for sale in Europe. In both cases, symbolic toughness trumps scientific and economic sense.

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