fox-business/taxes
Federal deficit hits $1.8 trillion with record debt interest costs
Committee for a Responsible Federal Budget President Maya MacGuineas warns that the nation’s $38 trillion debt and rising spending are ‘unsustainable,’ urging lawmakers to address entitlement reform and restore fiscal discipline. The Congressional Budget Office (CBO) on Wednesday released data showing the federal government ran a $1.8 trillion budget deficit in fiscal year 2025 amid mounting […]
IRS announces 2026 tax changes with higher standard deductions and brackets
FOX Business’ Gerri Willis has the details on the investment strategy on ‘Varney & Co.’ The Internal Revenue Service (IRS) on Thursday announced annual inflation adjustments for dozens of tax provisions, along with changes made under the One Big Beautiful Bill Act (OBBBA). The IRS’ announced changes primarily apply to tax year 2026. The standard deduction, claimed […]