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Yahoo
12 minutes ago
- Yahoo
IRS clashed with White House over pulling immigrants' data before Trump fired commissioner Billy Long: report
The Internal Revenue Service and the White House squabbled over the use of tax data to find suspected undocumented immigrants just hours before Trump administration officials pushed out IRS Commissioner Billy Long on Friday, according to a new report Saturday. On Thursday, the Department of Homeland Security sent a list to the IRS with more than 40,000 names that officials at the department believed were in the country illegally and asked that the IRS use confidential taxpayer information to confirm their addresses, anonymous sources told The Washington Post. In April, the Treasury Department, which oversees the IRS, agreed to an arrangement to facilitate the information sharing, going against the recommendations of IRS privacy lawyers. Officials at DHS have suggested that they may request that the IRS help them locate as many as seven million people. According to federal estimates, there are roughly 11 million undocumented immigrants in the U.S. The IRS said on Friday that it was able to verify fewer than three percent of the names sent in by immigration enforcement officials, according to The Post. The names that the agency was able to match were mostly those for which DHS shared an individual taxpayer identification number. Immigrants often use the number instead of a Social Security number to file their taxes. Undocumented immigrants pay taxes to the tune of tens of billions of dollars annually. White House officials asked for further information on the taxpayers identified by the IRS, such as whether any of them had made use of the earned income tax credit, which may reduce the tax burden for some filers with low incomes. However, the IRS chose not to provide that information, pointing to taxpayer privacy rights. The Post reported that Long had told executives at the agency that the IRS wouldn't provide confidential taxpayer information outside of the deal the IRS had struck with DHS. The paper noted that its sources were unaware whether the dispute over the IRS playing a part in the mass deportation effort was part of the reason for Long leaving his post. 'The Trump administration is working in lockstep to eliminate information silos and to prevent illegal aliens from taking advantage of benefits meant for hardworking American taxpayers,' a White House spokesperson told the paper. 'Any absurd assertion other than everyone being aligned on the mission is simply false and totally fake news,' the spokesperson said following the publication of the story. In a statement to The Post, DHS said the agreement with the IRS 'outlines a process to ensure that sensitive taxpayer information is protected, while allowing law enforcement to effectively pursue criminal violations.' 'After four years of Joe Biden flooding the nation with illegal aliens, these processes streamline pursuit of violent criminals, scrub these individuals from voter rolls, identify what public benefits these aliens are using at taxpayer expense, all while protecting American citizens' safety and data,' the statement continued. On Friday, Long said Trump was set to nominate him to be the ambassador to Iceland. He had been in his role at the IRS for less than two months. 'It is [an] honor to serve my friend President Trump and I am excited to take on my new role as the ambassador to Iceland. I am thrilled to answer his call to service and deeply committed to advancing his bold agenda. Exciting times ahead!' Long said in a statement on X. 'I saw where Former Superman actor Dean Cain says he's joining ICE so I got all fired up and thought I'd do the same,' he added. 'So I called @realDonaldTrump last night and told him I wanted to join ICE and I guess he thought I said Iceland? Oh well.' On Saturday, a White House official told The Post, 'Billy Long did a great job while at the IRS, and his promotion to ambassador was previously slated to happen.'
Yahoo
12 minutes ago
- Yahoo
Tesla Stumbles, but Elon Musk Gets a Massive Payday
Key Points Tesla's sales are struggling in key markets overseas. Consumer backlash from Elon Musk's political stance is real. These 10 stocks could mint the next wave of millionaires › Unless you've been purposely hiding from the news -- which would be understandable -- you know that investors in Tesla (NASDAQ: TSLA) have had plenty to digest. Between allegations Tesla isn't paying its bills and hurting small businesses, to facing consumer backlash from CEO Elon Musk's political tour (and we can't forget the sliding sales and global profits), it's been a full downpour. Let's consider the recent speed bumps, as well as Musk being rewarded with a hefty $29 billion payday. The overseas spiral July figures are seeping in from Europe, and they show that Tesla registrations checked in 41.6% lower compared to the prior year, despite sales of electric vehicles (EVs) surging across the Continent. It's a continuation of the sales spiral the EV maker faced during the first half of 2025. And the problem is that the decline was supposedly due to the new Model Y being in limited supply -- but the issues appear to be deeper than that. The story is similar in China, another crucial market for Tesla. Its sales of China-made EVs dropped 8.4% in July compared to the prior year. That was a reversal from the small gain Tesla posted in June, which at the time reversed an eight-month losing streak. The consumer backlash The consumer displeasure is real, and Musk's political allegiances have pushed some buyers to new and different brands. There's evidence of the effect this is having on Tesla's once-spotless brand image, according to new data from S&P Global Mobility, which tracks sales data across the automotive industry. The new data, shared with Reuters, showed that Tesla's consumer loyalty took a nosedive in July 2024, correlating with Musk's public commitment to an anti-environmental political campaign. According to Reuters, Tesla's loyalty peaked at 73% in June 2024 before bottoming out in March at 49.9%. No matter how you slice it, that's a quick and dramatic decline in consumer sentiment, literally driving buyers to another brand. A massive payday Tesla's board granted Musk 96 million shares, worth roughly $29 billion, in an attempt to keep the billionaire focused on the EV company amid his multiple businesses and ventures. The vote comes after a 2024 Delaware court ruling that voided Musk's 2018 compensation package, which was valued at over $50 billion. The court said the approval process was flawed and unfair to shareholders. According to Automotive News, the special committee that was formed to consider the new pay package said: "While we recognize Elon's business ventures, interests and other potential demands on his time and attention are extensive and wide-ranging ... we are confident that this award will incentivize Elon to remain at Tesla." What it all means Tesla and its investors certainly appear to be at a crossroads. While selling EVs and zero-emission credits keeps the lights on for the young company, it constantly reminds investors that its future may be more in line with artificial intelligence (AI), robotics, and robotaxi services. Long-term investors should stay the course but should also prepare for a bumpy few quarters as the company works through its upcoming identity crisis, the slow ramp-up of the robotaxi, and an aging lineup. Should you buy stock in Tesla right now? The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Tesla Stumbles, but Elon Musk Gets a Massive Payday was originally published by The Motley Fool
CBS News
14 minutes ago
- CBS News
Trump nominates Tammy Bruce as deputy representative to the U.N.
President Trump on Saturday said he is nominating State Department spokesperson Tammy Bruce as the next deputy representative to the United Nations. "Since the beginning of my Second Term, Tammy has been serving with distinction as Spokesperson of the State Department, where she did a fantastic job," the president said in a Truth Social post. Bruce will receive the rank of ambassador, Mr. Trump said, if her nomination is confirmed by the Senate. It's unclear who will replace Bruce's position in the State Department. Mr. Trump has nominated Mike Waltz, his former national security adviser, to be U.S. ambassador to the United Nations. His confirmation has stalled since he testified in his Senate confirmation hearing last month about the administration's foreign policy and his plans for the role if he is confirmed. The role of U.N. ambassador — the last of Mr. Trump's Cabinet to be confirmed — has been vacant since the beginning of Mr. Trump's second term. If they are both confirmed, Bruce would serve under Waltz and assume the duties of the U.N. ambassador when he's absent. Before she joined the Trump administration, Bruce was a Fox News contributor. She became the host of "Get Tammy Bruce" in 2019, which aired on the network's streaming Yilek contributed to this report.
