New analysis from The Budget Lab: if you combine the distributional impact of tariffs so far with U.S. CBO's new OBBBA distribution, the bottom 80% of households see a decline in income, and the 9th decile is close to neutral. Only the top 10% see a clear net benefit. 1/3

You have to add up all the red bars and stack them on top of each other to pay for the green bar.

Minnesota lawmaker and her husband assassinated in "act of targeted political violence," Gov. Walz says. Another Minnesota lawmaker and his wife were also targeted and shot multiple times. They are now out of surgery and receiving care time.com/7294233/minnes…

Devastating.

The Federal Reserve is forecasting stagflation in 2025. It's nowhere near 1970s style stagflation, but this "mini stagflation" would still be uncomfortable -- even painful -- for many Americans. Slower growth: 1.4% in 2025, down from 2.8% in 2024 Higher inflation: 3% by end of

Immigrants are America’s workers. They’re vital to our communities, our country and our labor movement. An immigrant doesn’t stand between you and a good job. A billionaire does. deptofpeoplewhowork.org/immigration

Senators who are worried about how the reconciliation bills’ health care cuts will impact rural providers should not be swayed by reports that a “rural hospital stabilization fund” could be added to the bill. That’s a weak band aid, not a cure. politico.com/live-updates/2…

Happy birthday to the most beautiful state in the land, full of the kindest and best people you’ll ever find. I love you, WV.

Tho eclipsed by Iran, Senate GOP will soon vote on a budget plan that does something GOP hasn't in 30 years: link tax cuts that mostly benefit families >median income w/spending cuts that mostly hurt those below. Last time didn't turn out so well. My take cnn.com/2025/06/22/pol…

Hard to overstate how important this one is. GOP was trying to make protection from partisan firings “pay to play.” This would have been talent repellant. I don’t want to fly, eat, or retire in a US where the govt is an employer of 1) last resort or 2) only the already-wealthy.

Trump’s 2017 tax cuts slashed FedEx’s tax bill from $1.5B to $0. When lobbying for the bill, FedEx said it would use the savings for major new investments, yet the company reduced its capital expenditures & increased its spending on stock buybacks. nytimes.com/2019/11/17/bus…

There was "no statistically meaningful relationship between the size of the tax cut that companies and industries received and the investments they made. If anything, the companies that received the biggest tax cuts increased their capital investment by less, on average, than

This was true across the economy. The leading studies found the massive corporate tax cut had a very small impact on business investment. But buybacks and executive pay soared.

One Big Beautiful Bill