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TL/DR - The gross tax gap, or the difference between taxes owed and paid, reached $688 billion in 2021, with a net tax gap of $625 billion after IRS enforcement efforts. President Biden's Inflation Reduction Act provided $80 billion in additional funding for the IRS, mainly aimed at enforcing tax compliance by wealthy tax evaders and reducing the…

TL/DR - The U.S. Supreme Court is hearing arguments over whether Donald Trump should be removed from the ballot in Colorado. The court's questioning indicated they were looking for ways to avoid keeping Trump off the ballot. The justices are expected to rule on the case within a few weeks. US Supreme Court Hears Arguments on Trump's Ballot…

TL/DR - The estimated cost of President Biden’s clean-energy and climate agenda has doubled, mainly due to the anticipated popularity of the Inflation Reduction Act, which includes tax credits and subsidies for low-emission technologies. The regulations, which were passed on a party-line vote in summer 2022, increase federal deficits with…

TL/DR - Special counsel Robert Hur has given Congress his report on President Joe Biden's handling of classified documents while out of office. The investigation was launched after approximately two dozen classified documents dating back to Biden's time as vice president were found at his personal home and office. Although the report’s details…