Tag: taxes

Supreme Court Lets Government Continue to Withhold Funding From SNAP

The Trump administration may, for the time being, continue not to fully fund the food stamp program until Congress appropriates new funds, the U.S. Supreme Court ruled late on Nov. 11.

The Supplemental Nutrition Assistance Program (SNAP), also known as the food stamp program, provides financial assistance for food purchases to about 42 million people.

The court extended until 11:59 p.m. on Nov. 13 an administrative stay it granted on Nov. 7 that blocked lower court decisions that ordered the Trump administration to redirect about $4 billion in tariff revenue to SNAP on top of $4.6 billion it already used from a contingency fund. An administrative stay gives members of a court more time to consider an urgent matter.

The new unsigned order in Rollins v. Rhode Island Council of Churches did not provide reasons for the decision.

Justice Ketanji Brown Jackson indicated she would have denied the extension and the federal government’s emergency application. She did not explain her dissent.

Jackson on Nov. 7 had placed a temporary hold on the adverse lower court orders until the U.S. Court of Appeals for the First Circuit issued a written explanation outlining why it denied the administration’s appeal of those rulings. That explanation was released on Nov. 10, prompting the administration to request that Jackson extend her stay.

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Sunny Hostin Scolds John Fetterman For Voting In Favor Of Not Starving His Constituents

Sunny Hostin spent part of Tuesday’s broadcast of “The View” scolding Senator John Fetterman (D-PA) for voting with Republicans to bring the longest government shutdown in history to an end — and he pushed right back.

Hostin’s cohosts — most of whom have been pushing for Senate Minority Leader Chuck Schumer’s (D-NY) ouster since he “caved” and voted to avert the last potential government shutdown in March — began by pressing Fetterman on whether or not he believed Schumer was still the right person to lead the Senate under the current circumstances.

“Senator Bernie Sanders said the vote was a horrific mistake. Governor Gavin Newsom called it pathetic and a surrender. Poll after poll found Americans on both sides of the aisle blaming Republicans,” Hostin said. “Even Marjorie Taylor Greene blamed the GOP. As you mentioned, Democrats had big wins last week, so you had momentum. Why give in now? Why bring a butter knife to a gun fight?!”

Hostin went on to argue that Fetterman was taking a major risk in trusting Republicans to follow through on promises to hold a vote on the Affordable Care Act subsidies and deliver back pay to furloughed federal workers, saying, “I believe you are wrong!”

“Well, first of all, MTG is quite literally the last person in America that I’m going to take advice [from] or to get their kinds of leadership and values from,” Fetterman shot back.

He went on to note that he had voted to keep the government open from the start, largely because he knew how a shutdown would impact people in his home state.

“I promise you, this isn’t a political game. It is viewed [that way] by many of us, but the reality is, 42 million Americans now [are] not sure where their next meal is going to come from because we vote like that. Or people that haven’t been paid for five weeks now and that kinds of chaos. Those kinds of workers have to borrow more than half a billion dollars from their credit union just to pay the bills,” he said.

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Bill to end government shutdown would let senators snooped on by Jack Smith seek up to $500K

A provision tucked into the government funding bill that passed the Senate on Monday would compensate GOP senators whose phone records were seized without their knowledge during former special counsel Jack Smith’s Arctic Frost investigation into efforts to overturn the 2020 election.

Up to nine Senate Republicans would be able to sue the government and be eligible for up to $500,000 in damages, plus attorneys’ fees, for each instance in which their call logs were coughed up to the feds. A payout for one incident apiece could cost taxpayers about $4.5 million.

Phone carriers would also be required to immediately notify senators and their offices if their devices, accounts, records or communications are sought — unless the lawmakers are the target of a criminal investigation.

In such cases, judges can issue a 60-day nondisclosure order if they find an imminent threat to “the life or physical safety of any person” or that the targeted senator poses a flight risk, that evidence would be destroyed, that witnesses would be intimidated or that the investigation would be jeopardized.

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Nothing says ‘Veterans Day’ than military families in a food line

According to reports at Military.com, which as a staple covers the daily lives and military families living on and off bases across the United States, thousands of military families are seeking food assistance due to the government shutdown, which is the longest in American history.

The shutdown reached a breakthrough on Monday night, as the Senate voted on a compromise bill to reopen the government. The measure must go now to the Republican controlled House and faces an uncertain future there.

In the meantime, it’s Veterans Day, which is typically marked by parades and school-based tributes throughout the country, but on military bases, apparently, it is passing amid consternation and stress, as servicemembers and their families face a month without pay.

The impact of the longest government shutdown in history, which as of Monday surpassed 40 days but potentially could reopen this week due to Senate Democrats reaching across the aisle, is hitting military families in every branch, state and pay grade.

Families that live paycheck to paycheck are asking for food, gas and diapers. National Guard and Reserve troops are struggling because canceled drills mean no pay. Nonprofits are shipping emergency groceries to keep cupboards from going empty. A previous Military.com report warned that troops may soon miss paychecks if the shutdown is not resolved.

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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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