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7 senators to watch as Republicans make changes to Trump's big bill NBC NewsSen. Ron Johnson says Trump's megabill 'doesn't have a chance of passing' Senate NPREstimated Budgetary Effects of H.R. 1, the One Big Beautiful Bill Act Congressional Budget Office (.gov)Trump not convinced on making biz tax breaks permanent, tax writer says Politico
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The legislation that Republicans are trying to push through Congress could swell the very fiscal imbalance that party leaders have promised to tame for years.
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Senate Republicans open the door to cutting Medicare 'waste' in Trump agenda bill NBC NewsMedicare is a target as Senate GOP faces megabill math issues PoliticoGOP grabs the third rail with Medicare and Medicaid cuts AxiosMedicare Surfaces as Target for Cuts to Pay for Trump Tax Bill Bloomberg
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MYTHBUSTER: One Big Beautiful Bill Cuts Spending — and More Cuts Are on the Way The White House (.gov)Trump tax bill would add $550 billion in interest payments to national debt The Washington PostBreaking down Trump's ‘Big Beautiful Bill' and its impact on the deficit and national debt PBS
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The Republican tax and spending bill is big and expensive, but investors seeking their own new tax breaks may feel underwhelmed by its offerings.
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Avoiding deep cuts to the social safety net while reducing red ink would show global markets that the U.S. deserves their investment.
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 Topic: RobocarsTags: forbes
With Waymo up to 200,000/week, total rides are now well over a million a month. The robotaxi is here. But people mistake it for Uber because it looks like that today.
Read more at Forbes.com in Robotaxis, Mostly Waymo, Are Giving 1.3 Million Rides/Month. Why?
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There's no way to sugarcoat this: Small and midsize businesses should be scared to death about the consequences of the Inflation Reduction Act. Unless they provide goods and services to the green energy industry, the law's unforeseen consequences could increase their operating expenses in two ways. Here's what to expect — and how to prepare.
SEE MORE Audit-Proof Your Small Business
The Inflation Reduction Act is essentially a climate change law with some health care benefits. While the new legislation doesn't include any direct tax increases on small and midsize businesses, some of its provisions have the potential to raise costs for these companies significantly.
First Reason Why Cost of Business Could Be Going Up
For one, your chances of being audited may be going up. The new bill substantially expands the Internal Revenue Service's budget: More than half of the $80 billion increase in the IRS budget over 10 years will be used to beef up enforcement through new technology and new hires. That means more audits for companies that are the least able to financially manage them. I worry for businesses that gross $5 million or less since they usually don't have excess funds to pay a lawyer $50,000 to fight the IRS if their matter proceeds to court.
In a letter to the Senate, the agency's commissioner said, "These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans." Even so, with the hire of new auditors, it's likely that people with little or
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