96
<!–
*{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img+div{display:none}sub,sup{font-size:75%;line-height:0}#converted-body .list_block ol,#converted-body .list_block ul,.body [class~=x_list_block] ol,.body [class~=x_list_block] ul,u+.body .list_block ol,u+.body .list_block ul{padding-left:20px} @media (max-width:620px){.desktop_hide table.icons-outer{display:inline-table!important}.image_block div.fullWidth{max-width:100%!important}.mobile_hide{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}.reverse{display:table;width:100%}.reverse .column.first{display:table-footer-group!important}.reverse .column.last{display:table-header-group!important}.row-8 td.column.first .border{padding:5px 5px 15px 25px;border-bottom:15px solid transparent}.row-10 td.column.last .border,.row-12 td.column.last .border,.row-14 td.column.last .border,.row-8 td.column.last .border{padding:5px 20px 25px 5px}.row-10 td.column.first .border,.row-12 td.column.first .border,.row-14 td.column.first .border{padding:5px 5px 15px 25px}}
sup, sub { font-size: 100% !important; } sup { mso-text-raise:10% } sub { mso-text-raise:-10% }
{beacon}
Business & Economy
|
Business & Economy
<!–
|
|
|
Trump ratchets up criticism of Powell
|
President Trump on Thursday said he would be able to remove Federal Reserve Chair Jerome Powell if he wanted to, adding he’s “not happy with him.”
|
“Oh, he’ll leave. If I ask him to, he’ll be out of there,” Trump told reporters in the Oval Office. “I don’t think he’s doing the job. He’s too late. Always too late. A little slow.”
Powell’s term ends in 2026. He was first appointed to his current post during Trump’s first term and was reappointed under the Biden administration.
He said last November he would not step down if Trump asked, and that it is “not permitted under the law” for the president to fire or demote him or any of the other Fed governors with leadership positions.
Trump accused Powell, a fellow Republican, of “playing politics,” and bashed him on social media earlier for being “too late” to cut interest rates.
His “termination cannot come fast enough,” Trump said of Powell.
The Hill’s Brett Samuels has the story here.
|
Welcome to The Hill’s Business & Economy newsletter, I’m Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.
|
Did someone forward you this newsletter? Subscribe here.
|
|
|
Key business and economic news with implications this week and beyond:
|
|
|
Trump confident he’ll make tariff deal with EU, China amid Meloni visit
|
|
|
President Trump on Thursday predicted his administration would make a deal on trade with China and with the European Union amid tariff disputes.
|
|
|
|
Trump floats wider IRS tax exemption crackdown
|
|
|
President Trump on Thursday floated a wider crackdown on tax-exempt entities after his administration asked the Internal Revenue Service (IRS) to revoke Harvard University’s tax-exempt status this week.
|
|
|
|
Trump official asked IRS to reexamine audit of MyPillow’s Mike Lindell
|
|
|
A Trump administration appointee asked the IRS in March to review an audit of MyPillow CEO Mike Lindell, a close President Trump ally, according to The Washington Post, which cited two people familiar with the matter and records that the news outlet obtained.
|
|
|
|
Easter 2025: Which stores, restaurants will be open?
|
|
|
Whether you forgot to grab the eggs for the Easter hunt or need a bite to eat, several stores and restaurants will be open on Easter Sunday.
|
|
|
|
Welcome to Tax Watch, a new feature in The Hill’s Business & Economy newsletter focused on the fight over tax reform and the push to extend the 2017 Trump tax cuts this year.
|
Republicans consider increasing taxes on the rich in break from party orthodoxy
|
Republicans in Congress are considering increasing taxes on the rich as a part of President Trump’s “big, beautiful bill” of ambitious legislative priorities, a striking development that breaks with decades of party orthodoxy and is spurring alarm bells from traditional conservatives.
The discussions are in the early stages, and lawmakers say it is possible that no tax hike makes it in the final legislation.
But the once-inconceivable consideration of tax increases underscores the tricky task that Republicans have in meeting competing demands from fiscal hawks, moderates and tax slashers for the ambitious party-line bill — as well as the rise of populist instincts in the party.
One idea being discussed is a roughly 40 percent top tax bracket on income above $1 million, one House Republican confirmed to The Hill. Bloomberg News first reported that proposal.
Sen. Chuck Grassley (R-Iowa) also confirmed the idea is being discussed in a town hall Tuesday when asked about increasing taxes on billionaires.
Read more here.
|
|
|
Upcoming news themes and events we’re watching:
|
- The stock market is closed Friday for Good Friday.
|
|
|
Tomorrow’s news today: Stay ahead of the political trends by signing up for The Hill’s Evening Report newsletter. Click here to sign up
|
|
|
Branch out with more stories from the day:
|
|
|
Trump administration takes aim at Harvard’s international students and tax-exempt status
|
WASHINGTON (AP) — The Trump administration has escalated its ongoing battle with Harvard, threatening …
|
|
|
Business and economic news we’ve flagged from other outlets:
|
- UnitedHealth’s stock is plunging on higher medical costs. That may mean trouble for more insurers (CNBC)
- Can China Fight Deflation and Trump’s Tariffs at the Same Time? (NYT)
- Ford tells dealers prices could go up in June if Trump’s tariffs remain (CNN)
|
|
|
Top stories on The Hill right now:
|
|
|
Appeals court won’t lift order to ‘facilitate’ Abrego Garcia’s return in blistering opinion
|
The 4th U.S. Circuit Court of Appeals on Thursday declined to lift a judge’s order that the Trump administration “facilitate” the return of Kilmar Abrego Garcia, admonishing the Justice Department in the ruling. Read more
|
|
The pathetic, slow-motion downfall of Barack Obama
|
Houseguests and fish begin to smell after three days, as the saying goes. But ex-presidents who stay in Washington, D.C., reek almost immediately. Read more
|
|
|
Opinions related to business and economic issues submitted to The Hill:
|
- Trump’s tariffs will likely lead to stagnation, not a depression
- Why Trump’s supporters trust him on tariffs — for now
|
|
|
|
You’re all caught up. See you tomorrow!
|
|
|
|
Close
if ( window.checkSizeClasses && window.checkSizeClasses instanceof Function) {
window.checkSizeClasses();
}
Source link
