Scoop #1:

Biden vows to let Trump-era tax cuts expire next year. What does this mean for American Taxpayers?

President Joe Biden has stated he plans to let significant portions of the Tax Cuts and Jobs Act, enacted under former President Donald Trump in 2017, expire next year if he is re-elected.

This tax legislation, which was a centerpiece of Trump's administration, included reductions in the top individual income tax rate and a doubling of the standard deduction. These measures are scheduled to end in 2025, which could lead to higher tax rates for many Americans unless Congress acts to extend them.

The issue of tax law expiration is becoming a central topic in the upcoming general election, with Trump advocating for making the tax cuts permanent.

Angles:

How will the expiration of the Trump-era tax cuts impact various income brackets?

What could be the potential implications on the economy, especially in light of the campaign promises for re-election?

Expert:

Bruce Willey, an attorney and CPA, specializes in helping successful businesses and entrepreneurs minimize their tax obligations.

Feel free to contact him directly:

Scoop #2:

OpenAI's Chris Lehane calls AI "critical infrastructure”

Chris Lehane, the newly appointed vice president of public works at OpenAI, in his first interview with Axios, emphasized viewing artificial intelligence (AI) as "critical infrastructure" akin to the essential public services that support a country's functioning and economic activities. Drawing a parallel to the New Deal, Lehane argued that just as historical infrastructure projects prepared the United States for future challenges and prosperity,

OpenAI, known for creating ChatGPT, aims to portray AI not just as innovative technology but as a foundational element that can help resolve large-scale societal issues while supporting democratic societies.

OpenAI is expanding its leadership team to effectively engage with global policymakers and communities, signaling a strategic shift in how the company positions AI—moving from a perception of 'magical' tech innovation to a more integrated component of societal infrastructure.

Angles:

Could AI really be the next 'arsenal of democracy'?

Drawing parallels between AI development and the New Deal, what can be inferred about the potential societal shifts that AI might bring?

Expert:

Kris Fitzgerald is the retired Chief Technology Officer (CTO) at NTT DATA Services. In his role, he was at the forefront of directing the company's global technology strategy, specifically focusing on Intelligent Automation.

Kris has over 40 years of progressive experience IT and vertical industries. Kris is also an advisor to several start-up companies in the Global Staffing AI/ML Ops and AI powered healthcare markets.

Kris currently serves as a member of the University of Texas, Jonsson School of Engineering and Computer Science Executive Council

Scoop #3:

Confounding US economic, inflation data muddy Fed's rate path

The Federal Reserve has observed that the banking system remains robust despite a record run of interest rate hikes, which has not triggered a recession or widespread defaults as feared.

The U.S. economy grew by 1.6% in the first quarter of the year, below the expected 1.8% and previous quarter's 3.4%. However, inflation remains high at 3.4%, surpassing the Fed's 2% target, complicating the possibility of interest rate cuts.

The Fed is caught between needing to control inflation and supporting continued economic growth. There's uncertainty about whether current monetary policies are too restrictive or if they adequately reflect economic realities.

Financial markets and economists remain divided on whether the Fed will continue raising rates to combat inflation or hold steady to avoid undermining economic growth.

Angles:

Given the uncertainty expressed by the Fed, how are Americans adjusting their long-term investments and savings strategies?

How do recent economic developments impact the broader debate on fiscal policy and federal spending?

Expert:

Bill Dendy, Founder of Alicorn Investment Management, has over 30 years of professional experience in investments and financial planning.

Feel free to contact him directly: