As hurricanes assail the nation, President Trump is tweeting up a storm on a “once-in-a-generation” opportunity to cut taxes and simplify the tax code. So far, the president is short on details, but he did say, “It’s your money, not the government’s money,” and tax reform should start with that reality. The money that…
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Following up President Trump’s surprising deal with Congressional Democrats to suspend the U.S. government’s statutory debt ceiling through December 15, 2017 as part of providing funding to support hurricane damage relief in Texas, Louisiana and Florida, President Trump also appears to have reached a “gentleman’s agreement” to permanently eliminate the statutory debt ceiling altogether….
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While it won’t be news to MyGovCost readers, President Trump did indeed tie together aid to fund the recovery to large-scale damage caused in Texas and Louisiana by Hurricane Harvey with an increase in the U.S. government’s statutory debt ceiling. What may be surprising however is who he reached the deal to do both…
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In 2001, the U.S. Congress passed the “No Child Left Behind” Act, which promised to improve the academic performance of the nation’s K-12 schools in part by holding elementary and secondary school administrators to a higher level of accountability while also pouring up to $23 billion of federal spending annually into poorly performing local…
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Putting together a package of federal aid to assist the Americans who have been displaced from their homes and jobs in the destructive aftermath of Hurricane Harvey—and increasing the statutory debt ceiling of the U.S. government—would appear to be two entirely separate jobs for the U.S. Congress, but political realities will force the two…
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As we noted, in 1990, Gilbert Hyatt was awarded the patent for the first single-chip microprocessor. This invention earned Hyatt a lot of money and he soon moved to Nevada, which has no state income tax. California’s Franchise Tax Board (FTB) claimed Hyatt lied about his residency, and that he owed millions in state…
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In 1990, Gilbert Hyatt was awarded the patent for the first single-chip microprocessor. The computer industry welcomed this invention, earning Hyatt a lot of money. He soon moved to Nevada, which has no state income tax. California’s Franchise Tax Board (FTB) claimed Hyatt lied about his residency, and that he owed $7.4 million in…
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The ongoing saga of Dallas’ failing government employee pension fund for its police officers and firefighters is continuing to play out to the detriment of the Texas city’s residents. When MyGovCost last checked on the story, the city’s mayor had rejected new property taxes to finance a taxpayer bailout of the insolvent pension fund….
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It’s official! The 2017 edition of Government Shutdown Theater, which MyGovCost hinted was coming less that two weeks ago, was initiated by President Trump at a speech in Phoenix, Arizona on Tuesday, August 22, 2017. The Hill‘s Mike Lillis reports on the now increased chance that the U.S. government will be partially shut down…
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With President Trump getting so much press, a few hangovers from the previous administration have managed to escape notice. As we noted, Operation Choke Point, supposedly a measure against consumer fraud, pressured financial institutions doing business with allegedly “high risk” companies. These included Ponzi schemes, payday lenders, escort services and such, but the DOJ…
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