CALTRANS ROAD TAX PROPOSAL
US bill would let Trump send B‑2 bombers and bunker busters to Israel if Iran's nuclear threat persists
A bipartisan bill would authorize President Donald Trump to transfer US B‑2 stealth bombers and 30,000‑pound bunker‑buster bombs to Israel if Iran continues nuclear development. The move comes amid IAEA warnings of possible uranium enrichment resurgence, following recent US and Israeli strikes on Iranian nuclear facilities
Trump's 'big, beautiful' bill could leave 12 million without healthcare and America drowning in debt
Republicans in the US Senate have narrowly passed Donald Trump's mega-bill on tax and spending after hours of stalemate and negotiation. But Trump's 'big, beautiful bill' is likely to increase the debt of America, according to estimates from Congressional Budget Office. The megabill could also impact 12 million Americans as they might lose health coverage.
From North to south, how Karnataka plans to solve Bengaluru’s ‘slow’ problem with Rs 18,000 crore ‘underground’ project
The Karnataka government has approved a major tunnel project for Bengaluru. This project aims to significantly cut travel time between the northern and southern parts of the city. The 16-kilometre road tunnel will be built at a cost of Rs 17,780 crore. The tunnel will connect Esteem Mall to Central Silk Board.
Mexico imposes new tourist tax on cruise passengers, fee to rise fourfold by 2027
Mexico will impose a tourist tax on cruise passengers starting July 1, 2025, beginning at $5 and rising to $21 by 2027. This move aims to boost government revenue, but cruise operators fear it could deter bookings and negatively impact local businesses in port towns like Cozumel, which heavily rely on cruise tourism.
Big Beautiful Bill: After narrow Senate passage, Trump's marquee bill faces resistance in the House
The US Senate narrowly approved a Republican bill cutting taxes and social programs, facing an uncertain future in the House due to GOP divisions. The 51-50 vote, with Vice President Vance breaking the tie, followed intense negotiations. While extending Trump-era tax cuts and boosting border security, the bill faces House opposition over Medicaid cuts and increased national debt.
Trump's 'big, beautiful' bill unveiled: Tax cuts, mass deportations, child credit and more
The US Senate narrowly passed President Donald Trump's big tax breaks and spending cuts bills. The Senate approved President Trump's $4.5 trillion spending bill, extending tax cuts, increasing military spending, and funding border security. The bill is however expected to increase the debt of America and leave millions without healthcare coverage.
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Trump’s Big, Beautiful Bill: Who wins, who loses, and what it means for your wallet
President Trump's "big, beautiful bill" has passed the Senate, delivering significant tax cuts for corporations and high-income households. However, the bill raises concerns about rising national debt and cuts to Medicaid and clean energy initiatives. Millions could lose healthcare coverage, and future generations may face economic burdens due to increased debt.
US stock market dips today as S&P 500 slips from record high, Nasdaq drops with Tesla tumble amid Trump-Musk clash and looming July 9 tariff threat
US stock market today saw mixed moves as the S&P 500 and Nasdaq pulled back from recent highs while the Dow Jones climbed. The drop came as Tesla stock fell sharply, driven by rising tension between Elon Musk and President Trump over trade policy. Investors also tracked Trump’s new tax bill and looming tariff deadline on July 9, with many watching for updates from Fed Chair Jerome Powell on interest rate cuts. Fresh labor market data also shaped market direction. With all eyes on Trump’s next economic move, the market outlook remains uncertain and highly active this week.
Senate strikes AI provision from GOP bill after uproar from the states
The Senate voted 99-1 to strike the AI provision for the legislation after weeks of criticism from both Republican and Democratic governors and state officials. Originally proposed as a 10-year ban on states doing anything to regulate AI, lawmakers later tied it to federal funding so that only states that backed off on AI regulations would be able to get subsidies for broadband internet or AI infrastructure.
Don’t forget to claim these five deductions for reducing your income tax liability for AY 2025-26 under old tax regime
The deadline for submitting ITR for FY 2024-25 is September 15, 2025 and this means eligible taxpayers should claim eligible certain tax deductions under the old tax regime. Some common tax deductions are available under sections 80D, 80C, 80TTA, 80TTB. These include health insurance premiums, EPF, PPF, ELSS, and savings account interest. Read below to know more.
Trump's Senate bill has a 'kill shot': The 'midnight dumping' provision could pinch your pocket
Senate Republicans stunned the power industry over the weekend with a proposed new tax on wind and solar projects, part of a broader push to unravel incentives for renewable energy. Republicans added a new tax on future wind and solar projects that don’t meet strict new restrictions on parts produced by any company that received “material assistance” from certain U.S. adversaries like China.
California gas prices jump 2¢ per gallon, pain at the pump hits again and you are responsible for it
In California, drivers are feeling the pinch as gas prices soar. A recent gas tax alongside stringent fuel regulations has come into play, aimed at bolstering infrastructure, but at a cost. Experts warn that with carbon emission standards tightening, prices may climb even higher. Compounding the issue are refinery disruptions.
Centre approves Rs 3,667 crore annual plan for road, infra development in Himachal Pradesh
The Union government has approved a Rs 3,667 crore annual plan for road and bridge construction in Himachal Pradesh for 2024-25. This includes funds for the Jalori Jot tunnel (Rs 1,452 crore) and a bridge at Brauni Nala (Rs 135 crore). Additionally, Rs 1,385 crore has been sanctioned for the four-laning of the Kala Amb Paonta Sahib road.
Trump’s 1,000-page Big Beautiful Bill lands in Senate — 10 changes that could affect Americans
Trump’s Big Beautiful Bill just hit the Senate — and it's packed with massive changes that could affect your taxes, healthcare, border security, and even how AI is regulated. This 1,000-page bill pushes forward Trump’s 2025 agenda with a $4.2 trillion price tag and 10 major updates you need to know. From permanent tax cuts and stricter Medicaid work rules to green energy rollbacks and a $5 trillion debt ceiling hike, this bill touches nearly every American’s daily life. Whether you’re a parent, senior, or taxpayer — Trump’s Big Beautiful Bill could seriously change your future.
Watch: Bihar gets Rs 100 crore road, but trees left in the middle; Drivers dodge danger, call it disaster waiting to happen
A Rs 100 crore road project in Bihar's Jehanabad district has sparked controversy due to trees standing in the middle of the newly widened road. The forest department denied permission to cut down the trees, leading to a dangerous situation where drivers must navigate around them. Locals fear accidents and criticize the wasted public funds.
India, Oman revise DTAA: What’s the income tax impact on professionals earning in both countries?
India and Oman have updated their Double Taxation Avoidance Agreement, effective May 2025, to prevent double taxation and also reflect current global tax norms. The revised treaty promotes cross-border investments by lowering tax rates on royalties and technical service fees. It also introduces a non-discrimination clause and strengthens information exchange between the 2 countries.
Zohran Mamdani pushes 2% millionaire tax on NYC’s richest — is there a mayhem ahead for the rich?
Mamdani’s proposal has faced strong pushback from business leaders and fiscal conservatives, with hedge fund manager Bill Ackman labeling the plan as “disastrous.”
After dramatic vote, Senate pushes ahead on Trump's tax break, spending cut plan
Senate Republicans advanced President Trump's tax and spending package, overcoming Democratic opposition and internal GOP divisions with a 51-49 vote. The bill, featuring tax breaks, deportation funding, and cuts to social programs, faces further debate and amendments. Concerns persist over Medicaid reductions, the national debt, and the impact on lower-income Americans as the bill heads back to the House.
Tata Steel gets show cause notice over input tax credit of Rs 1,000 cr availed during FY19-23
Tata Steel has received a show cause notice from tax authorities regarding an alleged irregular availment of input tax credit amounting to Rs 1,000 crore between FY19 and FY23. The notice, issued by the Office of the Commissioner (Audit), claims the input tax credit was availed in contravention of GST Act.
Trump's tax, spending cuts bill narrowly clears key Senate vote 51-49, as Republicans race to pass it by July 4
Senate Republicans narrowly advanced President Trump's tax and spending bill, facing internal dissent and unified Democratic opposition. The bill, aiming to make Trump-era tax cuts permanent and boost national security funding, includes controversial cuts to Medicaid and food stamps. Elon Musk criticized the package, while the White House strongly supports its passage before the July Fourth deadline.
Delhi govt seeks Rs 950 cr from Centre to boost road infrastructure
The Delhi government has requested Rs 950 crore from the central government. The fund is for upgrading Delhi's road infrastructure. Parvesh Verma said 415 km of roads will be strengthened. The government aims to repair at least 500km of city roads this financial year. PWD will repair footpaths and drains simultaneously. Contractors will be responsible for maintenance for three-five years.
G7 back new 'side-by-side' tax proposal exempting American, UK firms from global tax rules
The G7 nations have agreed to a "side-by-side" solution exempting US-parented companies from certain aspects of the global tax agreement, allowing them to be taxed primarily at home. This aims to provide stability and certainty in the international tax system, addressing US concerns about Pillar 2 rules and preserving tax sovereignty.
What's in latest version of Trump's big bill now before Senate
Now it's up to Congress to decide whether President Donald Trump's signature's domestic policy package will become law. Trump told Republicans, who hold majority power in the House and Senate, to skip their holiday vacations and deliver the bill by July 4.
Senators prep for a weekend of work to meet Trump's deadline for passing his tax and spending cuts
Senate Republicans are pushing to pass President Trump's tax and spending package by the July Fourth deadline, facing internal GOP divisions over proposed spending cuts to programs like Medicaid and food stamps.
Sending money to India? US Senate softens remittance tax to 1% from 3.5%
The U.S. Senate's revised 'One Big Beautiful Bill Act' offers relief to NRIs by reducing the proposed remittance tax from 3.5% to 1%. Transfers from U.S. bank accounts and via U.S.-issued cards are now exempt. This tax, impacting non-citizens, is set to apply only to transfers made after December 31, 2025, potentially affecting remittances to countries like India.
Govt proposes to make two helmets mandatory for new 2-wheelers
The government is proposing a new rule mandating two-wheeler manufacturers to provide two BIS-standard helmets with each purchase, aiming to enhance road safety for riders and passengers. Effective January 1, 2026, new L2 category two-wheelers must be equipped with Anti-lock Braking Systems (ABS). The public has 30 days to provide feedback on these proposed rules.
Toll tax to be cut 50% on these highways: Road ministry approves big change in toll rules for expressways and highways
The Road Transport Ministry has approved revised toll charges. Tolls will be halved on roads with significant elevated structures. The new cap will be five times the standard rate. This is down from ten times. Commuters on corridors like Dwarka Expressway may see big savings. The ministry will notify the decision soon. This aims to make road use more affordable.
California, the world's fourth largest economy, to charge road tax as people go electric, citizens furious
California considers a road charge based on miles driven. This aims to address a $5 billion gas tax revenue shortfall. Electric and hybrid car adoption reduces gas tax income. Caltrans tested a pilot program with varied fee structures. Public reaction is negative. Assembly member Carl DeMaio estimates costs of $900 to $1200 yearly.
'It's time to expand Ghaziabad': CM Yogi Adityanath announces formation of Greater Ghaziabad by merging these three areas
Uttar Pradesh Chief Minister Yogi Adityanath announced the formation of 'Greater Ghaziabad' by merging Loni, Khoda-Makanpur, and Muradnagar Nagar Palikas with the Ghaziabad Municipal Corporation. This expansion aims to enhance infrastructure, increase revenue, and improve living standards for residents. The CM also pushed for the construction of an international cricket stadium and reviewed other development projects in the region.
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