Trump proposes tax free tips sparks GOP debate
The plan to exempt tips from federal taxes draws mixed reviews from Republicans and interest groups. Trump argues tip relief aids workers in states like Nevada, home to many tipped employees, while Democrats and critics warn of revenue losses and wage impacts. Analysts warn employers may reclassify wages as tips, boosting deficits, with a large potential hit to federal revenue over a decade.
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Trump Classified Documents Trial Faces Key Challenge
In Fort Pierce Florida lawyers for Donald Trump argue that Justice Department prosecutor Jack Smith was illegally appointed, seeking dismissal. Judge Aileen Cannon questions oversight while hearings continue amid delays and repeated defense challenges to Smith's appointment and related procedures.
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Stocks drift as Nvidia cools after stellar run in week
U S stocks closed higher for a week led by Nvidia's reversals as the S&P 500 slipped 0.2 percent while staying near a record. the Dow rose modestly and the Nasdaq fell 0.2 percent. Sarepta surged 30 percent on Duchenne therapy approval, Smith & Wesson slid 12.9 percent despite solid earnings.
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