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Tax Loopholes Cost California and Its Cities $107 Billion but Get Little Scrutiny

Among the hundreds of bills introduced in every session of the California Legislature, a few deal with what state officials term "tax expenditures," which requires some explanation. The term refers to provisions in personal and corporate income taxes and sales taxes that exempt specific financial transactions from levies that otherwise...

Trump Wants Debt Ceiling Raised or Abolished Entirely

President-elect Donald Trump and Vice President-elect JD Vance are pushing for Congress to address the debt ceiling before they take office, complicating negotiations to avoid a government shutdown. The duo criticized a GOP-backed deal to fund federal agencies, urging lawmakers to raise or abolish the debt ceiling now instead of...

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