
Democrats Take Aim at Puerto Rico Tax Perks for Crypto Investors
Under current laws, qualified investors living in the US Commonwealth are not required to pay local or federal taxes on capital gains, including crypto appreciation. That tax break — part of a broader package of tax incentives known as Act 60 — has made the island a haven for thousands of digital currency enthusiasts.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Hill
27 minutes ago
- The Hill
GOP senator on DC carjacking fears: ‘I don't buckle up'
Sen. Markwayne Mullin (R-Okla.) on Wednesday expressed his fear of being carjacked in the nation's capital, as the Trump administration ramps up its federal takeover of local law enforcement. 'And by the way, I'm not joking when I say this, I drive around in Washington, D.C., in my Jeep, and yes, I do drive myself, and I don't buckle up. And the reason why I don't buckle up, and people can say whatever they want to, they can raise their eyebrows at me again, is because of carjacking,' Mullin said during an appearance on Fox News's 'The Ingraham Angle.' 'I don't want to be stuck in my vehicle when I need to exit in a hurry, because I got a seatbelt around me and that — and I wear my seatbelt all the time,' he told host Brian Kilmeade, in a clip highlighted by Mediaite. 'But in Washington, D.C., I do not, because it is so prevalent of carjacking,' the Oklahoma Republican continued. 'And I don't want the same thing [to] happen to me what's happened to a lot of people that work on the hill.' President Trump announced earlier this week that his administration was taking control of the Metropolitan Police Department (MPD) and deployed hundreds of National Guard soldiers to the area to combat crime and violence in the city. The move, sparked after a former Department of Government Efficiency (DOGE) staffer was attacked by teenagers during a carjacking — has received heavy blowback from Democrats and local officials. A provision in Washington's ' Home Rule Act ' allows the president to federalize the police force for up to 30 days — but any additional time requires Congressional approval. During a speech Wednesday from the Kennedy Center, Trump said he will seek a 'long-term' extension. 'Well, if it's a national emergency, we can do it without Congress,' Trump said, when asked about whether he's talked to lawmakers about extending the takeover. He added that he expects meet with Congress 'very quickly' and snag GOP support. Sen. Lindsey Graham (R-S.C.) signaled in a post online Wednesday that he and fellow Sen. Katie Britt (R-Ala.) were working with the Trump administration on a safety package for the district. 'Together, we will try to shepherd the DC Security Fund through Congress to give President Trump the resources he will need to improve the safety and quality of life in our nation's capital,' he wrote on social platform X. 'Every American should be behind this effort to make Washington, DC clean and safe so that it can truly become the shining city on the hill.' For such a move to advance, however, it would likely need support from some Senate Democrats. Sen. Minority Leader Chuck Schumer (D-N.Y.) made clear that his caucus would not back the measure. 'No f‑‑‑ing way,' he told podcast host Aaron Parnas. 'We'll fight him tooth and nail. … He needs to get Congress to approve it, and not only are we not going to approve it, but there are some Republicans who don't like either.' D.C. Mayor Muriel Bowser has also pushed back on Trump's moves, calling them an 'authoritarian push' as data shows the crime rate declining in the nation's capital. The mayor has also used the national attention as a platform to reup the district's quest to gain statehood.


New York Times
29 minutes ago
- New York Times
Trump Administration Live Updates: Federal Deployment Ramps Up in D.C.
President Trump made a show of force in Washington, D.C., this week, exercising his unique powers over the nation's capital to commandeer the city's police force, deploy the National Guard and send hundreds of federal law enforcement agents into the city in what he described as an effort to combat crime. It is the first time a president has used a declared emergency to wrest control of the city's police, a step that its mayor said was 'unsettling' though allowed under the law. Congress and the executive branch have long exerted controls over the city's budget and other decisions. But the president's move may represent the biggest encroachment on the city's autonomy since it was granted home rule 52 years ago. While crime is a concern for many residents, the situation on the ground differs from Mr. Trump's hyperbolic statements in justifying the moves: Official data shows that crime is falling — particularly violent crime, which hit a 30-year low last year — after surging during the pandemic. Mr. Trump, who has stoked fears of violent crimes in America's cities going back more than 35 years, delivered increasingly dire threats after returning to office in January that if he was not satisfied with the city's efforts to combat crime, he would order a federal takeover of Washington — in effect dissolving the local government to rule it directly. Mr. Trump took his first firm steps in that direction last week, after a prominent young administration official was beaten by a mob of young assailants in an attempted carjacking in Washington. Here's what to know. What is Trump doing on law enforcement in Washington? And how is he able to do it? In the span of a week, Mr. Trump rapidly ratcheted up moves going over the heads of D.C. leaders. He has invoked his authority in overseeing federal law enforcement and a 1973 law that gives the president the power to take temporary control of the city's police. He ordered a surge of roughly 500 federal agents into the city beginning last Friday, after the beating of Edward Coristine — an operative of the Department of Government Efficiency — that week. Then on Monday, Mr. Trump used a provision of the D.C. Home Rule Act, the law that established a local government and granted the city limited autonomy, to temporarily take over the Metropolitan Police Department, the city's main police force. A White House official said the current takeover would last 30 days, the maximum outlined in the law before the president must seek an extension of that authority through Congress. Mr. Trump has expressed interest in seeking such an extension. What powers do federal agents have on city patrols? On Tuesday, National Guard troops began to deploy in Washington for the first time since 2020, when Mr. Trump ordered a crackdown on Black Lives Matter protests in the city. Unlike the 50 states, D.C. does not control its National Guard unit and has little ability to push back against a federal deployment, as Gov. Gavin Newsom of California did earlier this year. About a dozen troops were spotted on the National Mall on Tuesday as others gathered at the D.C. Armory, the headquarters of the D.C. National Guard. The initial deployment near the Washington Monument was a far cry from the aggressive policing carried out by the D.C. Guard in 2020. The troops were seen snapping photos of themselves with visitors, and left roughly two hours after they arrived. One complicating factor of using federal agents to patrol Washington is that those agents do not have the same authority as police officers to arrest people for minor criminal offenses. Trump administration officials have suggested that if federal agents see someone commit such a crime, they can stop and detain the person until a local police officer arrives and makes an arrest. City officials have said the National Guard troops would not have the authority to make arrests, as the use of the military for civilian law enforcement is limited by the Constitution. Mayor Muriel Bowser of Washington said this week that the president 'has the authority, by virtue of the statute, to request services.' But she said city officials retained the authority to hire and fire people in the Police Department. She added that the police chief would work 'hand in hand with the people that the president has designated.' Could Trump fully take over D.C.? Even before the current crisis, Mr. Trump held a significant amount of control over D.C. The president nominates the city's judges and top prosecutor. Much of the City Council's powers to make laws and plan the annual budget is also subject to congressional oversight. Mr. Trump in effect exercised his presidential powers to set aside some of the city's autonomy, declaring a public safety emergency and temporarily commandeering the city's police force. In theory, Mr. Trump could go further, with the approval of the Republican-controlled Congress. Lawmakers could extend the emergency, keeping the police under Mr. Trump's authority for the duration. Mr. Trump may also be able to keep the National Guard and other federal agents deployed in the city indefinitely. In California, a fraction of the Guard force that Mr. Trump had federalized is still operating under federal control months after being called up. He could also direct federal units to more forcefully police the city, using tear gas, riot gear, armored vehicles, low-flying aircraft and other aggressive tools and tactics. The White House had previously said that federal agents in the city would be 'identified, in marked units, and highly visible,' but those restrictions are not mandated by law, and those units could quickly shift to crack down on city residents. The most extreme — and most unlikely — outcome is that Mr. Trump calls on Congress to repeal the D.C. Home Rule Act. That would dissolve the local government and place the city directly under federal control. The city's 700,000 residents — more than the population of Vermont or Wyoming — would lose the ability to elect their mayor and local council members. Mr. Trump has in recent months expressed support for a federal takeover, and Republicans in both the House and the Senate have introduced legislation to do so. But the chances of those laws passing are still very low. Under current Senate rules, such a law would need 60 votes to advance, and there are only 53 Republicans in the Senate. Has something like this happened before? Mr. Trump is the first president to use a declared emergency to wrest control of D.C.'s police. But federal police and the military have previously been deployed in the city, most recently during the Jan. 6, 2021, attack on the Capitol by a pro-Trump mob. Mr. Trump had also deployed the National Guard to Washington in 2020 as part of a crackdown on racial justice protests after the murder of George Floyd by a Minneapolis police officer. The D.C. Guard was at the forefront of that deployment, which was widely seen as a debacle at the time. Mr. Trump had also considered a deployment of active-duty military units like the 82nd Airborne, and senior Army leaders warned National Guard officers that Army units would replace them on the ground if they were insufficiently aggressive in controlling the protests. There have been other encroachments on the city's autonomy during home rule. Before this week, the most significant was a financial control board, established by Congress in 1995 to steer the city out of a fiscal crisis.


Politico
an hour ago
- Politico
Pritzker rallies Dems: No more funk
Happy Thursday, Illinois. Step right up, folks, and get ready for another day at the Illinois State Fair. TOP TALKER SPRINGFIELD, Ill. — Gov. JB Pritzker offered a blueprint Wednesday for how Democrats might climb out of the political funk that's loomed over their party since the 2024 election. Pushing back: Addressing more than a thousand guests at the Bank of Springfield Center, Pritzker poked at the national pundits, consultants and strategists who have been picking apart the Democratic Party, claiming it's lost its way. Pritzker's answer: End the pity-party and follow Illinois' lead. 'To those who are wondering what's next for the Democratic Party: She's alive and well and stronger than ever and right here living in the great state of Illinois,' Pritzker said, pointing to legislative wins and Democrats putting a priority on 'values.' Simply, said Pritzker: 'It's time to stop surrendering when we need to fight. And yes, folks, we are messing with Texas,' a reference, of course, to the Texas House Democrats staying in Illinois to protest a GOP redistricting bill in Texas. The morning event included high-profile speeches followed by a barbecue on Democrats' day at the fairgrounds — with more speeches Sen. Tammy Duckworth, who received the most extended applause from the morning crowd, called on Democrats 'to channel our outrage to action.' And Hakeem Jeffries, the U.S. House Democratic leader and headliner of the morning event, ticked off his own playbook for 2026: 'We have to continue to do more, more rallies, more demonstrations, more protests, more press conferences, more speeches on the House floor, more speeches on the Senate floor, more town hall meetings … and more extraordinary actions like those being taken by courageous Texas Democrats.' Senate intrigue: The three top Democratic U.S. Senate candidates — Lt. Gov. Juliana Stratton, Congresswoman Robin Kelly and Congressman Raja Krishnamoorthi — jockeyed for attention on stage and with the press corps, each holding a gaggle. Speaking of the Senate race: Don Tracy jumps in on GOP side, by the State Journal Register's Steven Spearie And Sen. Dick Durbin drew a laugh when he reminded the breakfast crowd that he's not out of office yet. The veteran senator, who isn't seeking reelection next year, reflected on how integral the party has been in his life going back to his childhood in East St. Louis. 'We were Catholics, members of unions, ate fried chicken after church on Sundays, drove Ford automobiles — and we were Democrats.' SIDENOTE: Pro-Palestinian protesters demonstrated outside of the Bank of Springfield Center where Jeffries spoke Wednesday, and his speech was interrupted three times by three different protesters, who were escorted out of the arena. RELATED At Illinois State Fair, Democrats celebrate state as a leader of the Trump resistance: And they lashed out at the Republican administration and its allies in Congress 'in an effort to regain party momentum for next year's midterm elections,' by the Tribune's Rick Pearson, Jeremy Gorner and Olivia Olander. 'Fair play:' Democratic Senate candidates jockey for Durbin's seat on Governor's Day at state fair: 'All three major Senate Democratic candidates have said they've spoken to Durbin about an endorsement, but it's unclear whether the senator will choose a side in a competitive race that is also becoming one of the most expensive in the country,' by the Sun-Times' Tina Sfondeles and Mitchell Armentrout. Indiana House Dems join Texas House Dems to stand against mid-decade redistricting, by the Post-Tribune's Alexandra Kukulka 'No plan at this point' to go home, says Texas Dem at Chicago Planned Parenthood event, by the Daily Herald's Marni Pyke THE BUZZ UNITY GAP: Wednesday was a day of party unity for Democrats from across the state — but an empty seat from Chicago's City Hall spoke its own kind of politics. Mayor Brandon Johnson didn't make the trip to Springfield, and we didn't see anyone from his team, either, a point that was noticed by a few folks. Johnson's spokespeople didn't return a request for comment. 'I think it's really important that we're working to build bridges with our statewide colleagues in Springfield,' said Ald. Bill Conway, who made the trip along with fellow Chicago City Council members Michelle Harris, Matt Martin, Emma Mitts and David Moore Money matters: Conway noted the state recently handed the city a $4 billion pension liability. 'It doesn't seem like there was really any collaboration from city government on that,' he said, flagging the looming transit fiscal cliff as another fiscal storm cloud. It's about face time: 'Maybe I'm old-school,' Harris said. 'When Democrats have an opportunity to get together and spend time together, we should be in that space solidifying our relationships any chance we get.' If you are Brandon Johnson, Playbook would like to hear from you! Email: skapos@ WHERE'S JB At AFL-CIO Headquarters in Springfield at 10:30 a.m. to sign worker rights bills WHERE's BRANDON At Little Village Park at 6:45 p.m. for the community bash event Where's Toni At the Cook County Building at 10 a.m. with the Cook County Department of Transportation and Highways to announce $8.27 million in grant funding for 32 Invest in Cook projects — At Dr. Jorge Prieto Health Center at 4 p.m. with Congressman Jesús 'Chuy' García for the 50th anniversary of the South Lawndale Health Center Have a tip, suggestion, birthday, new job or a (gasp!) complaint? Email skapos@ SPOTLIGHT There's a battle brewing between two of the state's most powerful Democrats — House Speaker Emanuel 'Chris' Welch and Senate President Don Harmon. They're both eyeing the state central committeeperson seat now held by Congressman Danny Davis, who says he's not seeking reelection to the committee or to his congressional seat. It's not unusual for Illinois General Assembly folks to run for the central committee. What is unusual: Both Welch and Harmon live in same 7th Congressional District in the western suburbs. Who's in: Welch has already announced he's running. But Harmon hasn't made it official, saying he's still 'evaluating' — though he did acknowledge already having gathered nearly all the signatures he needs on his petitions. They both downplayed the idea of a potential power struggle, report the Sun-Times' Mitchell Armentrout and Tina Sfondeles. 'I don't think there's a fissure,' Welch told the Sun-Times. Says Harmon: 'We worked for a long time with a state party that didn't serve the entire state, and it's important to me that the Democratic Party of Illinois serve the entirety of the Democratic Party apparatus, not just the Illinois House.' BUSINESS OF POLITICS — Harsh message: Jim Rule, chair of the Tazewell County GOP, sent out a message to members Wednesday with an ominous message: 'The situation with the Illinois Republican Party is grim. People are fed up and morale is low. There is no confidence in our ability to WIN and with the Democrats imploding all over the state, we are not prepared to turn this state RED,' he wrote. We'll see how it plays out during today's Republican Day at the Fair. — Joe Cervantez has launched his bid for Illinois attorney general on the Republican ticket: The former Jackson County state's attorney says he'll announce his candidacy today at the State Fair, by the Southern's Paul Wilcoxen. — Jumping in: State Sen. Mary Edly-Allen is running for the open seat for State Central Committeewoman for Illinois' 10th Congressional District. Edly-Allen is also president of Lake County Democratic Women. 'We need leadership that bridges divides, lifts up new voices, and keeps us moving forward — and that's the work I am committed to continue to do.' — In IL-07: Dr. Thomas Fisher says he raised $175,000 in the first 24 hours after announcing his campaign for Illinois' 7th Congressional District, according to his team. Fisher is a Democrat. — State House endorsements: Demi Palecek, a Democrat running for the 13th District House seat, has been endorsed by Congresswoman Jan Schakowsky, City Clerk of Chicago Anna Valencia and 1st Ward Committeeperson Laura Yepez. 'Demi's a [military] veteran who has consistently demonstrated her leadership and commitment to our Democracy. Her unique perspective and dedication to upholding equality and justice are precisely why we need to send her to Springfield to fight for us,' said Schakowsky in a statement. — Endorsements: The 43rd Ward Democrats and Committeeman Lucy Moog are endorsing Paul Kendrick for state representative for the 12th District and Catherine 'Cat' Sharp for Cook County commissioner for the 12th District. The committee selected Kendrick 'for his pragmatic approach to government' and Sharp 'for her deep understanding of the county's budgeting process and priorities,' according to a statement. — He's in: Cook County Commissioner Scott Britton announced he's running for a third term to represent the county's 14th District. ILLINOIS' POPE — Pope Leo XIV-themed bus tour kicks off Thursday at Holy Name Cathedral: 'The tour also includes stops at Pope Leo's birthplace in Bronzeville, the former Mercy Hospital, and the Catholic Theological Union seminary in Hyde Park, where he trained for the priesthood,' by the Sun-Times' Selena Kuznikov. CHICAGO — CPS budget plan hedges on city pension payment, but some board members are insisting it be paid: 'In its plan to close a $734 million deficit out Wednesday, CPS officials proposed cutting operations, refinancing debt and spending down a reserve fund. They didn't propose a loan,' by WBEZ's Sarah Karp — CPS banking on TIF funding, pension contingency to keep cuts out of classrooms in latest budget plan, by WTTW's Matt Masterson — Lawsuit alleges Lettuce Entertain You staged a 'corporate coup': Business partner Gerard Centioli files lawsuit alleging Rich Melman fraudulently transferred ownership, by Crain's Brandon Dupré. — State's attorney's office declines to file charges against CPD officers in Dexter Reed shooting: 'State's Attorney Eileen O'Neill Burke said the 'evidence is clear and overwhelming' that prosecutors would not be able to meet their burden of proof, calling the scene 'terrifying and chaotic'... 'What happened that evening was a tragedy,'' by the Tribune's Madeline Buckley and Sam Charles. Reader Digest We asked what one thing from the federal government would you cut. Mike Gascoigne: 'Military spending.' John Huebler: 'Retirement benefits for members of Congress.' Charles Keller: 'The IRS. 14 billion to collect your money is way too much.' Fabrice Guyot-Sionnest: 'The military! Our global capabilities are very important, but the DOD budget is massive, and it has never passed an audit. We should be investing in life instead of death.' NEXT QUESTION: What's one fun fact about Illinois culture that everyone should know? THE NATIONAL TAKE — A GOP divide is growing over Trump's redistricting play, by POLITICO's Lisa Kashinsky and Meredith Lee Hill — Trump floats circumventing Congress to maintain control of D.C. police, by POLITICO's Giselle Ruhiyyih Ewing — Gaza is already emerging as a foreign policy litmus test for 2028 Dems, by Adam Wren, Elena Schneider and Holly Otterbein EVENTS — Friday: Lt. Gov. Juliana Stratton will host the 'Standing Up for Illinois: Protecting Women' roundtable. Also on the panel: Deputy Gov Grace Hou, Planned Parenthood of Illinois President Tonya Tucker and Women Employed CEO Cherita Ellens. Details here — Wednesday: Town Hall with Congressman Bill Foster and State Rep. Dave Vella on Wednesday. Details here TRIVIA WEDNESDAY's ANSWER: The Kaskaskia River's name derives from the old Miami-Illinois tribe's word for a katydid. TODAY's QUESTION: Who had the longest non-consecutive tenure of any Illinois congressperson? Email to: skapos@ HAPPY BIRTHDAY Former state Rep. Adam Brown, American Red Cross of Illinois CEO Kellie O'Connell, JPMorgan Chase philanthropy leader Charlie Corrigan, Diversified Search Group's Sonya Olds Som, Res Publica Group VP Kevin Owens, JP Morgan Banker VP Jeremy Wynes and Blue Cross Blue Shield of Illinois comms exec Nicole Stickel -30-