Caitlin Reilly
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Covering Congress with a focus tax and fiscal policy for Bloomberg News @Business. Opinions my own, RTs not endorsement. Reach out at creilly106@bloomberg.net.
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Articles by Caitlin Reilly
House Democrats Seek Answers on Faster Access to Trump’s Posts
House Democrats are opening an inquiry into a plan by President ’s media company to offer faster access to posts on its social media platform to Wall Street firms in exchange for a fee. Representative of Maryland, the top Democrat on the Judiciary Committee, is seeking answers from about its Truth API product, which launches Saturday and promises real-time access to the “most market-moving” posts on Truth Social to attract high-frequency and algorithmic trading firms.
US House Votes to Restrict Congressional Stock Purchases
(Bloomberg) -- The House voted to restrict members of Congress from buying stocks, over the objection of Democrats to an unrelated provision in the legislation imposing new documentation requirements to vote in US elections.
Darline Graham says she's running for South Carolina Senate
Republican Senator Darline Graham said she plans to run in November's midterm elections for the seat held by her late brother, Lindsey Graham. "I feel like I can do it, I feel an inner peace about it," Graham told Fox News host Sean Hannity in an excerpt of an interview airing Monday night. "I'm in." Graham, 62, was appointed last week to finish her brother's term by South Carolina Governor Henry McMaster. She later won President Donald Trump's endorsement in the race.
Trump Backs Darline Graham for South Carolina Senate Seat (1)
President Donald Trump urged South Carolina Senator Darline Graham, the sister of the late Lindsey Graham, to run for a full Senate term in the November election. Darline Graham was sworn in this week to serve the remainder of her brother’s term following his sudden death on Saturday. “I asked Darline, for the Good of our Nation, to run” Trump said in a social media post Friday.
Goldman Lawyer Tells Congress Her Epstein Emails Were Misread Original
’s former general counsel defended her association with convicted sex offender to Congress, calling him a “masterful liar” who used her and others to help legitimize him. , who as the investment bank’s top lawyer in June, told the House Oversight Committee that she regrets ever communicating with Epstein and that much of their correspondence has been taken out of context by the media, according to prepared remarks seen by Bloomberg News.
Here are potential candidates
The sudden death of South Carolina Senator Lindsey Graham unleashed jockeying among leading Republicans in the Palmetto State to run for his seat for a full six-year term. Republican Governor Henry McMaster is set to name a replacement on Monday to serve out the rest of Graham's term through Jan. 3, 2027. That person will also have to decide whether to run in the Republican primary the state must hold by Aug. 11 to replace Graham on the ballot in November. Copyright 2026 Tribune Content Agency.
Graham's death sparks Republican race: Here are potential candidates
The sudden death of South Carolina Senator Lindsey Graham unleashed jockeying among leading Republicans in the Palmetto State to run for his seat for a full six-year term. Republican Governor Henry McMaster is set to name a replacement on Monday to serve out the rest of Graham's term through Jan. 3, 2027. That person will also have to decide whether to run in the Republican primary the state must hold by Aug. 11 to replace Graham on the ballot in November.
Graham’s Death Sparks Republican Race: Here are the Candidates
The sudden death of South Carolina Senator Lindsey Graham unleashed jockeying among leading Republicans in the Palmetto State to run for his seat for a full six-year term. Republican Governor Henry McMaster is set to name a replacement on Monday to serve out the rest of Graham’s term through Jan. 3, 2027. That person will also have to decide whether to run in the Republican primary the state must hold by Aug. 11 to replace Graham on the ballot in November.
Copa do Mundo expõe brecha tributária em mercados de previsão nos EUA
Bloomberg — Os americanos que utilizam mercados de previsão para apostar na Copa do Mundo podem enfrentar uma carga tributária menor do que aqueles que apostam por meio de casas de apostas esportivas, graças a incentivos fiscais destinados a investimentos. Embora as regras tributárias que regem os jogos de azar sejam claras, o crescimento das apostas em mercados de previsão — que são estruturadas como investimentos — traz uma nova incerteza sobre como essas apostas são tributadas.
El vacío fiscal que podría beneficiar a quienes apuesten en el Mundial mediante mercados de predicción
Bloomberg — Los estadounidenses que utilicen los mercados de predicción para apostar en el Mundial podrían enfrentarse a una carga fiscal menor que quienes apuestan a través de casas de apuestas deportivas, gracias a las desgravaciones fiscales destinadas a las inversiones. Si bien la normativa fiscal que regula el juego es clara, el auge de las apuestas en los mercados de predicción —que se estructuran como inversiones— introduce una nueva incertidumbre sobre cómo se gravan dichas apuestas.
World Cup Bets on Prediction Markets Test Tax Edge Over Gambling Original
Americans using prediction markets to bet on the World Cup may face a lighter tax burden than peers wagering through sportsbooks thanks to tax breaks aimed at investments. While the tax rules governing gambling are clear, – which are structured as investments – injects fresh uncertainty into how wagers are taxed.
World Cup Bets on Prediction Markets May Get Tax Edge Over Gambling
The increasing popularity of prediction markets as well as expansion into the space by cryptocurrency platforms, online sportsbooks and tech giants, such as Meta Platforms' experimental foray, mean the issue is unlikely to disappear anytime soon. Gambling or Not? Betting apps, like the ones operated by DraftKings Inc. and FanDuel Inc., have dominated the explosion of online sports gambling. The platforms are regulated by states and are subject to both state levies and a federal excise tax.
World Cup, America 250 Face Unexpected Risk With Spy Law Lapse Original
A controversial spy powers law has become the latest political casualty of President Donald Trump’s second term, injecting uncertainty into US intelligence gathering in a summer dominated by the World Cup and high-profile events celebrating the country’s 250th anniversary. Republicans have painted a dire picture of the consequences of the lapse in the law, which expired on Friday, with Senator Mike Rounds warning that it “makes our country a lot less safe” at a critical time.
Trump Asks for Spy Law Extension as Pulte Pick Stokes Unease (1)
President Donald Trump has called on Congress to temporarily extend expiring electronic surveillance powers as he weighs his choice for a permanent National Intelligence director, signaling his controversial decision to appoint Bill Pulte acting chief will be short-lived.
Nevada Attorney General Wins Democratic Gubernatorial Primary
Skip to Content Aaron Ford, Nevada’s attorney general, has prevailed over a crowded field of Democrats to face off against first-term Governor Joe Lombardo, a Republican, in a race that will test voters’ willingness to back President Donald Trump’s economic agenda in the midst of headwinds caused in part by his policies.
Trump's No Tax On Tips Gamble Risks Falling Short With Disgruntled Vegas Voters
When a Las Vegas cocktail waitress pitched President Donald Trump on eliminating taxes on tips, it seemed like a surefire bet: an easily digestible policy that could break Democrats’ longtime hold on Nevada’s political machine by wooing culinary workers. At first, it seemed to work, with Trump becoming the first Republican presidential candidate to capture the state in two decades. But like many schemes cooked up on the Las Vegas Strip, Trump’s luck may be running out.
Trump’s No Tax on Tips Bet Overshadowed by Rising Costs in Vegas
When a Las Vegas cocktail waitress pitched President Donald Trump on eliminating taxes on tips, it seemed like a surefire bet: an easily digestible policy that could break Democrats’ longtime hold on Nevada’s political machine by wooing culinary workers. At first, it seemed to work, with Trump becoming the first Republican presidential candidate to capture the state in two decades. But like many schemes cooked up on the Las Vegas Strip, Trump’s luck may be running out.
Trump’s No Tax on Tips Bet Overshadowed by Rising Costs in Vegas
When a Las Vegas cocktail waitress pitched President Donald Trump on eliminating taxes on tips, it seemed like a surefire bet: an easily digestible policy that could break Democrats’ longtime hold on Nevada’s political machine by wooing culinary workers. At first, it seemed to work, with Trump becoming the first Republican presidential candidate to capture the state in two decades. But like many schemes cooked up on the Las Vegas Strip, Trump’s luck may be running out.
Trump’s No Tax on Tips Gamble Risks Falling Short With Disgruntled Vegas Voters
5 hours ago New York — One of the biggest mysteries of the global economy is why the oil market has remained so calm during one of the greatest supply shocks in history. The Strait of Hormuz has been paralyzed by three months of war — a nightmare scenario that few thought was possible before the war with Iran …
Votantes pierden la fe en la gestión económica de Trump ante inflación y gasolina al alza
Bloomberg — El presidente Donald Trump se encamina a toda velocidad hacia las elecciones de mitad de mandato con una vulnerabilidad que supone una novedad en su trayectoria política: los votantes están perdiendo la fe en la economía de Trump. Ver más: Trump dice que subir las tasas de la Fed sería un error antes del debut de Warsh Mientras se prolonga el enfrentamiento en el Estrecho de Ormuz y los precios de la gasolina en EE.UU.
Trump’s Economy Polling Slides as Iran War Saps His Superpower
President Donald Trump is barreling toward the midterm elections with a vulnerability that’s something new in his political life: Voters are losing faith in the Trump economy. As the standoff in the Strait of Hormuz drags on and US gasoline prices remain high, Trump’s approval ratings have slumped near the lowest in either of his presidential terms.
Trump’s Economy Polling Slides as Iran War Saps His Superpower
(Bloomberg) -- President Donald Trump is barreling toward the midterm elections with a vulnerability that’s something new in his political life: Voters are losing faith in the Trump economy. As the standoff in the Strait of Hormuz drags on and US gasoline prices remain high, Trump’s approval ratings have slumped near the lowest in either of his presidential terms.
Crypto Tokens Would Get New Tax Benefits Under House Bill
A House panel with jurisdiction over tax policy is preparing legislation that would grant cryptocurrency holders greater flexibility in reporting gains on investments, a potential boon for the digital asset industry. House Ways and Means Chairman Jason Smith has made establishing a framework for the taxation of digital assets a top priority for the committee, even as the Senate toils to pass market structure legislation.
Crypto Tokens Would Get New Tax Benefits Under House Bill
A House panel with jurisdiction over tax policy is preparing legislation that would grant cryptocurrency holders greater flexibility in reporting gains on investments, a potential boon for the digital asset industry. House Ways and Means Chairman has made establishing a framework for the taxation of digital assets a top priority for the committee, even as the Senate toils to pass market structure legislation.
Crypto Tax Draft Allows Staking Delay, Group Transactions (1)
Taxpayers can report aggregate digital asset gains and losses and delay counting newly created tokens as income until they’re sold under fresh legislation floated by the House Ways and Means Committee. The discussion drafts, obtained by Bloomberg Tax, would allow for a delay in counting newly created tokens through mining or staking as income until they’re sold. At that point, any gains or losses from the sale would be treated as ordinary income for tax purposes, rather than capital gains.
Crypto Tax Draft Allows Staking Delay, Group Transactions (1)
Taxpayers can report aggregate digital asset gains and losses and delay counting newly created tokens as income until they’re sold under fresh legislation floated by the House Ways and Means Committee. The discussion drafts, obtained by Bloomberg Tax, would allow for a delay in counting newly created tokens through mining or staking as income until they’re sold. At that point, any gains or losses from the sale would be treated as ordinary income for tax purposes, rather than capital gains.
Crypto Tax Draft Allows Staking Delay, Transaction Aggregation Original
Taxpayers can report aggregate digital asset gains and losses and delay counting newly created tokens as income until they’re sold under fresh legislation floated by the House Ways and Means Committee. The discussion drafts, reviewed by Bloomberg Tax, would allow the option to delay counting tokens newly created through mining or staking as income until they’re sold. At that point, any gains or losses from the sale would be treated as ordinary income for tax purposes, rather than capital gains.
Key US House committee preparing legislation to forge crypto tax structure
WASHINGTON- A House panel with jurisdiction over tax policy is readying legislation to address the taxation of cryptocurrencies for release as early as Friday, before a hearing early next week. House Ways and Means Chairman Jason Smith has made establishing a framework for the taxation of digital assets a top priority for the committee, even as the Senate toils to pass market structure legislation.
House Committee Preparing Bills to Forge Crypto Tax Structure
A House panel with jurisdiction over tax policy is readying legislation to address the taxation of cryptocurrencies for release as early as Friday, before a hearing early next week. House Ways and Means Chairman has made establishing a framework for the taxation of digital assets a top priority for the committee, even as the Senate toils to pass market structure legislation.
Trump Plan to Pause Anti-Weaponization Fund Faces GOP Skepticism
The Trump administration’s plans to scrap, for now, a controversial $1.8 billion legal fund for victims of alleged government “weaponization” ran into skepticism from Republican senators who demanded public assurances the fund is dead. The apparent effort by the administration to suspend the fund comes amid blowback from Republicans and Democrats, who derided it as a slush fund for President Donald Trump’s political allies.
Trump Plan to Pause Anti-Weaponization Fund Faces GOP Skepticism
The Trump administration’s plans to scrap, for now, a controversial $1.8 billion legal fund for victims of alleged government “weaponization” ran into skepticism from Republican senators who demanded public assurances the fund is dead. The apparent effort by the administration to suspend the fund comes amid blowback from Republicans and Democrats, who derided it as a slush fund for President ’s political allies.
Trump Plan to Pause Anti-Weaponization Fund Faces GOP Skepticism
(Bloomberg) -- The Trump administration’s plans to scrap, for now, a controversial $1.8 billion legal fund for victims of alleged government “weaponization” ran into skepticism from Republican senators who demanded public assurances the fund is dead. The apparent effort by the administration to suspend the fund comes amid blowback from Republicans and Democrats, who derided it as a slush fund for President Donald Trump’s political allies.
Bondi rebuffs Democrats on Trump role in handling Epstein files
WASHINGTON — Former Attorney General Pam Bondi rebuffed questions about President Donald Trump’s involvement in the Justice Department’s handling of files from its investigation of accused sex trafficker Jeffrey Epstein, Democratic lawmakers said. “She refused to answer any questions about President Trump,” Representative Robert Garcia, the top-ranking Democrat on the House panel investigating Epstein, told reporters Friday during a break in the committee’s closed-door questioning of Bondi.
Bondi Rebuffs Democrats on Trump Role in Handling Epstein Files
Former Attorney General Pam Bondi rebuffed questions about President Donald Trump’s involvement in the Justice Department’s handling of files from its investigation of accused sex trafficker Jeffrey Epstein, Democratic lawmakers said. “She refused to answer any questions about President Trump,” Representative Robert Garcia, the top-ranking Democrat on the House panel investigating Epstein, told reporters Friday during a break in the committee’s closed-door questioning of Bondi.
Bondi rebuffs Democrats on Trump role in handling Epstein files
WASHINGTON — Former Attorney General Pam Bondi rebuffed questions about President Donald Trump’s involvement in the Justice Department’s handling of files from its investigation of accused sex trafficker Jeffrey Epstein, Democratic lawmakers said. “She refused to answer any questions about President Trump,” Representative Robert Garcia, the top-ranking Democrat on the House panel investigating Epstein, told reporters Friday during a break in the committee’s closed-door questioning of Bondi.
Bondi Refuses to Discuss Trump-Epstein Connection, Democrats Say
Former Attorney General rebuffed questions about President ’s involvement in handling records of the Justice Department’s investigation of accused sex trafficker , Democratic lawmakers said. “She refused to answer any questions about President Trump,” Representative , the top-ranking Democrat on the House panel investigating Epstein, told reporters during a break in the committee’s closed-door questioning of Bondi.
Pam Bondi questioned by House panel on handling of Epstein files
By Caitlin Reilly and Chris Strohm, Bloomberg News WASHINGTON - House lawmakers arrived for a closed-door session with former Attorney General Pam Bondi prepared to press her on the Justice Department's decisions to withhold documents related to accused sex trafficker Jeffrey Epstein. Democrats and some Republicans have criticized the department for being slow to comply with a law forcing release of Justice Department files and withholding key information.
Bondi rebuffs Democrats on Trump role in handling Epstein files
WASHINGTON — Former Attorney General Pam Bondi rebuffed questions about President Donald Trump’s involvement in the Justice Department’s handling of files from its investigation of accused sex trafficker Jeffrey Epstein, Democratic lawmakers said. “She refused to answer any questions about President Trump,” Representative Robert Garcia, the top-ranking Democrat on the House panel investigating Epstein, told reporters Friday during a break in the committee’s closed-door questioning of Bondi.
Pam Bondi questioned by House panel on handling of Epstein files
WASHINGTON - House lawmakers arrived for a closed-door session with former Attorney General Pam Bondi prepared to press her on the Justice Department's decisions to withhold documents related to accused sex trafficker Jeffrey Epstein. Democrats and some Republicans have criticized the department for being slow to comply with a law forcing release of Justice Department files and withholding key information.
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