Trump's Megabill Cut Taxes. Here's Who Came Out Ahead.
The tax provisions suggest the law has something for almost everyone: extension of tax cuts on most households from 2017 that were due to expire Dec. 31; new tax breaks for tips, overtime pay, senior citizens and car-loan interest; a long list of business-tax changes; and a more generous deduction for state and local taxes for some.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
US economy rebounds a surprisingly strong 3% in the second quarter
WASHINGTON (AP) — The U.S. economy expanded at a surprising 3% annual pace from April through June, bouncing back at least temporarily from a first-quarter drop that reflected disruptions from President Donald Trump's trade wars. America gross domestic product — the nation's output of goods and services — rebounded after falling at a 0.5% clip from January through March, the Commerce Department reported Wednesday. The first-quarter drop was mainly caused by a surge in imports — which are subtracted from GDP — as businesses scrambled to bring in foreign goods ahead of Trump's tariffs. Economists had expected 2% second-quarter growth. From April through June, a drop in imports added more than 5 percentage points to growth. Consumer spending came in at a weak 1.4%, though it was an improvement over the first quarter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
The US economy rebounded at a 3% pace between April and June after trade wars wiped out growth during the first quarter
WASHINGTON (AP) — The US economy rebounded at a 3% pace between April and June after trade wars wiped out growth during the first quarter. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
20 minutes ago
- Yahoo
Helion Energy starts construction on nuclear fusion plant to power Microsoft data centers
By Stephen Nellis SAN FRANCISCO (Reuters) -Helion Energy, a startup backed by OpenAI's Sam Altman and SoftBank's venture capital arm, has started construction on a site for a planned nuclear fusion power plant that will supply power to Microsoft data centers by 2028, the company said on Wednesday. The site in Malaga, Washington, is in the center of the state along the Columbia River, where Helion hopes to take advantage of grid infrastructure in place for the nearby Rock Island Dam hydroelectric plant. The startup still has to secure final permits from Washington's government but said the work puts it on track to sell power to Microsoft under a deal it struck in 2023. Fusion generates electricity by ramming atoms into each other, releasing energy without emitting significant greenhouse gases or creating large amounts of long-lasting radioactive waste. But despite billions of dollars of investment, scientists and engineers still have not figured out a way to reliably generate more energy with fusion than it takes to create and sustain the reaction. Helion is still working on how to do that with its current prototype, called Polaris, which is housed in Everett, Washington, where it plans to build components for the machine to be built at Malaga, called Orion. Orion will connect to Washington's primary power delivery networks, David Kirtley, Helion's co-founder and CEO, told Reuters. "We'll actually be able to connect to the exact same grid just upstream of the Microsoft data centers," Kirtley said. Microsoft has for years said that nuclear energy should be part of a mix of carbon-free energy sources and has also signed power purchase agreements for conventional fission-based nuclear power. Fusion is a longer-term bet, said Melanie Nakagawa, Microsoft's chief sustainability officer. "Over the last three, four years, you've been seeing from across the fusion space different types of milestones being met by other companies and peers, Helion included," Nakagawa told Reuters. "There's a lot of optimism that this could be the moment that fusion actually comes forward within this decade, or near in this decade." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
