Japan Ruling Bloc Likely to Lose Upper House Majority, NHK Says
The NHK poll showed that the ruling coalition is likely to secure about 32-51 seats, likely leaving it short of the 50 seats needed to maintain a majority in the chamber.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
3 Money Moves the Middle Class Should Make After the Passing of Trump's ‘Big Beautiful Bill'
President Donald Trump's 'Big Beautiful Bill' finally cleared the House and the Senate and was signed by the president on July 4. The bill has several policies that could impact the middle class. Making some money moves and preparing for the new changes can help you save money and grow your portfolio. Read Next: Check Out: Here are some of the top money moves the middle class should make. Also see how much the definition of middle class has changed in every state. Capitalize on Clean Energy Credits Now The bill is cycling out of energy credits, which affect electric vehicles, solar panels and other clean energy sources. Chad Gammon, CFP, owner of Custom Fit Financial, suggested making clean energy purchases before the deadline if you've been holding out. 'If you are considering any upgrades, now would be the time to do it. Some credits, such as electric vehicles, are available until September 30, 2025. Other credits, like the residential clean energy credit, will end on December 31, 2025. This can help if you anticipate higher energy bills in the years to come, and reputable installers can assist with an estimated payback period,' he said. Be Aware: Open a 'Trump Account' A 'Trump account' can give your child a head start with investing money and accumulating wealth. Gammon highlighted the promising opportunity while encouraging people to monitor how it will work before investing additional money. 'If you have a child in 2025, I'd look into opening a 'Trump account.' The federal government will give $1,000 as a starter contribution. There are options to contribute further. I'd wait for more details on that, but would set it up for the initial $1,000,' he said. Children who are born between 2025 and 2028 are eligible for a $1,000 deposit, per CNBC. The money in the account will be invested in a fund that tracks the U.S. stock market, the outlet reported. Plan Your Taxes The bill can reduce your tax burden, especially if you use the standard deduction. Gammon explained how the new bill can add more money to your wallet. 'I would also look at your estimated 2025 taxes and adjust withholdings, if needed. The standard deductions moved for [couples who are married and filing jointly] from $30,000 to $31,500, or if you are single, it went from $15,000 to $15,750. This could lower your tax liability, where you can adjust your withholdings on your W-4 and free up extra monthly cash,' he said. Seniors can also get a boosted tax deduction thanks to the bill. Seniors who are 65 or older can get an additional $6,000 tax deduction if their modified adjusted gross income is below $75,000. Married couples filing jointly can capitalize on the additional tax deduction if their combined modified adjusted gross income is below $150,000. This additional tax deduction for seniors currently applies for the tax years 2025 to 2028. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 These Cars May Seem Expensive, but They Rarely Need Repairs 7 Things You'll Be Happy You Downsized in Retirement This article originally appeared on 3 Money Moves the Middle Class Should Make After the Passing of Trump's 'Big Beautiful Bill' Sign in to access your portfolio
The Hill
23 minutes ago
- The Hill
Live updates: House grinds to halt over Epstein; Trump to talk trade with Philippines leader
President Trump meets Tuesday with the leader of America's oldest ally in the Pacific, Philippines President Ferdinand Marcos Jr., at the White House. Marcos, the first leader of South Asian nations to visit the Trump White House, is looking to talk trade, after Trump put a 20 percent levy on the nation starting Aug. 1. 'My top priority for this visit is to push for greater economic engagement, particularly through trade and investment, between the Philippines and the United States,' he said upon his departure on Sunday. He met with Defense Secretary Pete Hegseth on Monday to discuss the U.S.-Filipino military alliance in the shadow of China. In Congress, the Jeffrey Epstein saga has ground the House to a halt. Republicans are opting to not set up any votes, rather than deal with Democrats, who are looking to force GOP members into a number of politically difficult votes on the Epstein matter (as they did last week). The Senate is considering whether to forgo some of its August recess to vote on more Trump nominees, as the president has pressured the Senate GOP to do. For your reading list:
Boston Globe
an hour ago
- Boston Globe
Is Massachusetts about to legalize online casinos on your smartphone?
So who's putting this on the fast track? It's unclear who, but it will need get through House and Senate leadership. A spokesperson for Advertisement For those already in the gambling business, the stakes are high, and the politics of it all have made for strange bedfellows. On one side is homegrown sports betting behemoth DraftKings and arch rival FanDuel, which support the bills and stand to benefit by providing the digital platforms that power these games. Joining their camp: MGM Resorts International, which operates a casino in Springfield and online gaming platform BetMGM. Advertisement A DraftKings employee in the lobby of their Back Bay offices. Lane Turner/Globe Staff On the other side is Encore Boston Harbor, the Everett casino operated by Wynn Resorts, and UNITE HERE Local 26, the politically influential hospitality union with many members who work at Encore; they oppose the bills, saying online gaming would cannibalize the brick-and-mortar casino business and reduce jobs in the industry. And then there are those who are wary for fear it will create more problem gamblers by making it even easier to bet on your phone. Supporters and opponents of online casinos squared off during a DraftKings and FanDuel argued that online casinos should be legalized because there's already a robust illegal market, so why not regulate and tax it? According to the mostly on websites based outside the United States. It's the same argument that's been made to legalize sports betting in many states, including Massachusetts, ever since the Supreme Court struck down a federal ban in 2018. Since sports betting began in Massachusetts in early 2023, it has flourished here with billions of dollars wagered, generating more than $300 million in taxes and assessments, according to the Advertisement Type 'online casino in Massachusetts,' and you quickly realize how we're all one Google search away from trying our luck. Seven states, including Connecticut, Rhode Island, and New Jersey, have legalized internet casino gaming, and proponents estimate that if Massachusetts levied a 20 percent tax, the state could generate $230 million to $275 million a year in new revenue. (That's the same tax rate as online-only sports betting, while land-based resort casinos are assessed at 25 percent.) And with state lawmakers facing tough budget decisions this year, David Prestwood, a government affairs manager at DraftKings, knew exactly what to tell the Joint Committee on Consumer Protection and Professional Licensure. 'This money may be especially critical for Massachusetts in the face of anticipated federal funding cuts and reductions in state and local aid,' he said at last month's hearing. Online casinos may seem no different than sports betting, but their appeal runs broader and deeper than placing a bet on a baseball game. And internet gambling is far different than going to a brick-and-mortar casino, which requires getting there and interacting with staff. Online, you can gamble in your pajamas. 'There's all these friction points where the player has the chance to think twice with about placing the next bet,' said Mark Stewart, a board member of the Advertisement Stewart, who is general counsel of The Cordish Companies, a Baltimore real estate and casino developer, testified virtually at the hearing, while Encore Boston Harbor president Jenny Holaday provided written testimony opposing online gaming and warned how it could result in a 'dramatic reduction in the associated taxes that Encore pays to the Commonwealth,' a sum that has totaled nearly $1 billion since the casino opened in 2019. The owner of Encore Casino in Everett is pushing to stop a bill on Beacon Hill that would broadly legalize online gambling on slots and poker games. John Tlumacki/Globe Staff Encore employs about 3,300 workers, about a third of whom are part of Local 26. A union representative also testified against the bills, citing an independent research analysis funded by the (A It's shaping up as a test of who has more clout on Beacon Hill — Encore and its coalition of boots-on-the-ground supporters in the unions and Everett, or tech companies that have deep pockets. Brick-and-mortar casinos could get in on the game, too. The legislation sets aside licenses for the state's existing casino operators, along with four licenses for internet gaming platforms. Along with slots, they'd allow poker, blackjack, craps, and even games with a live dealer. But what about the I can't imagine state Treasurer and Lottery chair, Deb Goldberg, being happy about online casinos, which could eat into lottery profits. The lottery in fiscal 2024 netted nearly Advertisement 'If online gaming expands, we must ensure the Lottery is supported and stays competitive,' Goldberg said in a statement. 'Every dollar spent on private platforms could mean less for our cities and towns and early childhood education.' Then there are concerns about addiction, with calls to the surging since sports betting was legalized. Lia Nower, director of the Center for Gambling Studies at Rutgers University said what drives up the risk of problem gambling is giving people more options. 'There's a cumulative effect,' she said. 'The more things that you gamble on, the more often you gamble and the more venues in which you gamble, the higher your risk.' In this digital era, online casinos may feel inevitable, yet internet gambling is so new we don't really know how addictive it could be, especially among young bettors. Remember how we initially thought social media was just fun and games? Critics of online gaming say it reduces barriers to problem gambling, compared with going to a brick-and-mortar casino. Steve Helber/Associated Press Yet the pressure will be intense from a gaming industry that's keen to keep expanding online. Boston-based Why? Just follow the money, explains Nower. 'It's the cash cow for the industry,' she said. State Senator Paul Feeney — who is sponsoring the online casino legislation with state Representative Daniel Cahill — said lawmakers are well aware the need to carefully weigh all the costs and benefits, in particular the investments made by land-based casinos which he described as 'sacrosanct.' Advertisement Yet there's also an urgency with the state facing budget pressures. 'I wouldn't say that anything is on a fast track,' said Feeney. 'There's a renewed interest in looking at how we can maximize tax revenue without broad-based tax increases on residents.' We tend to give the Legislature a hard time for moving too slowly, but this time we shouldn't. At the very least, the state should conduct its own independent analysis, rather than relying on industry-funded studies to weigh the impact on existing land-based casinos and the lottery, and whether it would create a new class of problem gamblers. Online gaming is too big of a gamble to not get this right. Shirley Leung is a Business columnist. She can be reached at
