Global Wealth Tax Gains Steam: Governments worldwide, from the United Kingdom (UK) and France to U.S. states like California and New York, are increasingly considering “tax the rich” measures to close budget gaps through higher property taxes, elevated investment income rates, new wealth surcharges, and exit taxes. Read the Full Story.
FY2026 Appropriations Outlook: Last week, the House passed a minibus package covering the FY2026 Defense, Homeland Security (DHS), Labor-HHS, and Transportation-HUD appropriations bills. The House Rules Committee then approved a rule merging the package with the Financial Services-General Government and State-Foreign Operations minibus so that a single consolidated appropriation bill could be sent to the Senate. Read the Full Story.
New Housing Affordability Proposals Introduced: Last week, Reps. Ro Khanna (D-CA), Summer Lee (D-PA), Mark Takano (D-CA) and Jill Tokuda (D-HI) reintroduced the Stop Wall Street Landlords Act to curb large institutional investors in the single-family home market. The bill would disallow deductions for mortgage interest, property insurance and depreciation on single-family homes owned by “specified large investors” (holding over $100 million in assets). It also would impose a 100% federal real estate transfer tax on the sale value of any such investor’s single-family homes not divested within 18 months of enactment. Read the Full Story.
Bynum Releases “K-30” Framework: On Monday, Rep. Janelle Bynum (D-OR) released her “K-30 Platform” to support individuals and families under age 30, featuring seven pieces of bipartisan legislation. The framework targets relief through housing, education and job investments. It includes proposals for $1.5 billion in Department of Housing and Urban Development (HUD) grants over five years to offset half of state/local taxes, incentives for mass timber plants to increase domestic supply for construction, and expansion of 529 plans to cover college/trade school application fees. Read the Full Story.
2026 Filing Season Opens For Individuals: The 2026 tax filing season began on Monday following a turbulent year that included seven IRS commissioners, other senior leadership changes and a mass reduction in force (RIF) effort. GOP lawmakers including Senate Finance Committee Chairman Mike Crapo (R-ID), Sens. Chuck Grassley (R-IA) and Steve Daines (R-MT), and House Ways and Means Committee Chairman Jason Smith (R-MO) expressed confidence in Acting IRS Commissioner and Treasury Secretary Scott Bessent and IRS CEO Frank Bisignano to spotlight the One Big Beautiful Bill Act (OBBBA, P.L. 119-21) and deliver accurate return processing and timely refunds, despite the absence of a permanent IRS commissioner and an IRS chief counsel. Read the Full Story.
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