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
Leon Black Contempt Resolution Advanced by House Epstein Panel
The House committee investigating disgraced financier voted to recommend holding billionaire in contempt of Congress Tuesday after he defied subpoenas for testimony and documents related to women in Epstein’s orbit. The matter now goes to the full House for a vote to refer the co-founder to the Justice Department for review by a grand jury and possible prosecution.
Leon Black Contempt Resolution Advanced by House Epstein Panel
Photographer: Kevin Dietsch/Getty Images (Bloomberg) -- The House committee investigating disgraced financier Jeffrey Epstein voted to recommend holding billionaire Leon Black in contempt of Congress Tuesday after he defied subpoenas for testimony...
Ways and Means to Eye Cryptocurrency Tax Bills This Week: BGOV Tax
Will cryptocurrency get its moment this week? There’s a chance crypto taxation legislation could advance out of committee as House lawmakers prepare to vote on a tranche of bills, Chris Cioffi reports, according to two GOP sources familiar with the Ways and Means Committee’s plans not authorized to speak publicly. And digital taxation will also be the focus of a Solana Policy Institute panel today exploring the White House’s crypto policy efforts and where crypto tax law is heading.
Trump's convention promises face tough road even If GOP wins
WASHINGTON - President Donald Trump and top Republicans made several concrete policy promises during their Dallas midterm convention, but they all face massive headwinds in Congress even if the GOP retains control of both chambers. In total, the plans add up to tax cuts in at least the hundreds of billions of dollars, alongside more than $1 trillion worth of new spending.
Trump’s Convention Promises Face Tough Road Even If GOP Wins
Sept. 12, 2026, 2:00 PM UTC President Donald Trump and top Republicans made several concrete policy promises during their Dallas midterm convention, but they all face massive headwinds in Congress even if the GOP retains control of both chambers. In total, the plans add up to tax cuts in at least the hundreds of billions of dollars, alongside more than a trillion dollars worth of new spending.
Trump $5K check plan gets cool reception from GOP allies
President Donald Trump’s proposal to send $5,000 checks to every adult US citizen if Republicans sweep the November midterms prompted a lukewarm response from members of his party in Congress, which controls federal spending. Top lawmakers in the House and Senate offered a muted reaction to the plan, which in Trump’s telling would amount to a more than $1 trillion expenditure at a time when inflation and the national debt are weighing on the minds of voters and financial market participants.
Trump’s Convention Promises Face Tough Road Even If GOP Wins
Photographer: Al Drago/Bloomberg (Bloomberg) -- President Donald Trump and top Republicans made several concrete policy promises during their Dallas midterm convention, but they all face massive headwinds in Congress even if the GOP retains...
Ways and Means to Consider Crypto Tax, Health Bills Next Week Original
Exclusive Sept. 11, 2026, 7:52 PM UTC The House Ways and Means Committee is eyeing a Wednesday markup on legislation that includes tax and health care, according to multiple people familiar with the panel’s plans. Lawmakers could vote on a tranche of bills, including the taxation of cryptocurrency, according to two GOP sources familiar with the committee’s plans not authorized to speak publicly.
Trump’s $5,000 Check Plan Gets Cool Reception From GOP Allies
President ’s proposal to send $5,000 checks to every adult US citizen if Republicans sweep the November midterms prompted a lukewarm response from members of his party in Congress, which controls federal spending. Top lawmakers in the House and Senate offered a muted reaction to the plan, which in Trump’s telling would amount to a more than $1 trillion expenditure at a time when inflation and the national debt are weighing on the minds of voters and financial market participants.
Thune Says ‘Good Question’ on Trump’s $5,000 Payout to US Adults
Senate Majority Leader declined to answer a question on whether the Republican-controlled Senate would pass President ’s proposal to give each US adult a $5,000 payment. “Well, that’s a good question,” he responded to a Fox News interviewer Thursday. “We’ll cross that bridge when we come to it.” Making the announcement during a speech Wednesday at the GOP’s midterm convention in Dallas, Trump offered no details and with a price tag well over $1 trillion, the proposal is unlikely to become law.
Thune Dodges Question on Trump’s $5,000 Payout to US Adults (1)
Senate Majority Leader declined to answer a question on whether the Republican-controlled Senate would pass President ’s proposal to give each US adult a $5,000 payment. “Well, that’s a good question,” he responded to a Fox News interviewer Thursday. “We’ll cross that bridge when we come to it.” Making the announcement during a speech Wednesday at the GOP’s midterm convention in Dallas, Trump offered no details and with a price tag well over $1 trillion, the proposal is unlikely to become law.
Thune Dodges Question on Trump’s $5,000 Payout to US Adults
Senate Majority Leader declined to answer a question on whether the Republican-controlled Senate would pass President ’s proposal to give each US adult a $5,000 payment. “Well, that’s a good question,” he responded to a Fox News interviewer Thursday. “We’ll cross that bridge when we come to it.” Making the announcement during a speech Wednesday at the GOP’s midterm convention in Dallas, Trump offered no details and with a price tag well over $1 trillion, the proposal is unlikely to become law.
Trump $5,000 Check Plan Gets Cool Reception From GOP Allies
Photographer: Graeme Sloan/Bloomberg (Bloomberg) -- President Donald Trump’s proposal to send $5,000 checks to every adult US citizen if Republicans sweep the November midterms prompted a lukewarm response from members of his party in Congress,...
Leon Black battles Epstein panel, skips testimony and files suit
WASHINGTON - Billionaire Leon Black failed to appear Thursday morning before the House committee investigating Jeffrey Epstein and instead filed a lawsuit seeking to block subpoenas for his testimony and documents related to women in Epstein's orbit.
Leon Black battles Epstein panel, skips testimony and files suit
WASHINGTON - Billionaire Leon Black failed to appear Thursday morning before the House committee investigating Jeffrey Epstein and instead filed a lawsuit seeking to block subpoenas for his testimony and documents related to women in Epstein's orbit.
Russia Sanctions Bill Stalls in US House Amid Tariff Concerns
A Russia sanctions bill overwhelmingly passed by the Senate just last month faces mounting opposition in the US House and is likely stalled at least until the November election, amid worries that the measure would expand President ’s tariff powers and drive up oil prices.
Leon Black battles Epstein panel, skips testimony and files suit
Former CEO of Apollo Global Management Leon Black, center, arrives to testify at a closed-door interview with the House Oversight Committee on Capitol Hill on June 26, 2026, in Washington, D.C. The committee is continuing to hold closed-door interviews as part of their investigation into convicted sex offender Jeffrey Epstein.
Leon Black battles Epstein panel, skips testimony and files suit
WASHINGTON - Billionaire Leon Black failed to appear Thursday morning before the House committee investigating Jeffrey Epstein and instead filed a lawsuit seeking to block subpoenas for his testimony and documents related to women in Epstein's orbit.
Russia Sanctions Bill Stalls in US House Amid Tariff Concerns
Photographer: Bloomberg (Bloomberg) -- A Russia sanctions bill overwhelmingly passed by the Senate just last month faces mounting opposition in the US House and is likely stalled at least until the November election, amid worries that the measure...
Leon Black Battles Epstein Panel, Skips Testimony and Files Suit
Billionaire failed to appear Thursday morning before the House committee investigating and instead filed a lawsuit seeking to block subpoenas for his testimony and documents related to women in Epstein’s orbit.
Swing-District Republicans Set to Skip Trump Midterm Convention
Sept. 3, 2026, 3:10 PM UTC Some of the most vulnerable Republicans in the US House are steering clear of next week’s GOP midterm convention, as the president’s approval ratings slide and tensions grow over the administration’s rekindled trade policies.
Swing-District Republicans Set to Skip Trump Midterm Convention
Photographer: Ronald Martinez/Getty Images (Bloomberg) -- Some of the most vulnerable Republicans in the US House are steering clear of next week’s GOP midterm convention, as the president’s approval ratings slide and tensions grow over the...
Treasury Targets Tax Exemptions for Schools Over Racial Policies Original
The has escalated an effort to strip schools, including universities, of their special tax-exempt status if they consider race in admissions, scholarships or other areas, a potential blow to the financial stability of hundreds of educational institutions. The department and the Internal Revenue Service unveiled a proposal Thursday that would revoke colleges’ and universities’ tax-exempt status, which permits their donors to deduct donations.
Treasury Targets Tax Exemptions for Schools Over Racial Policies
Photographer: Stefani Reynolds/AFP/Getty Images (Bloomberg) -- The US Treasury Department escalated an effort to strip schools, including universities, of their special tax-exempt status if they consider race in admissions, scholarships or other...
NYSE Used Anthropic’s Project Glasswing to Find Cyber Flaws
Photographer: Dylan Hollingsworth/Bloomberg (Bloomberg) -- The New York Stock Exchange used Anthropic PBC’s Project Glasswing to find and fix vulnerabilities in its cyber security systems, its president, Lynn Martin, told Congress.
Bigger SALT Break Delivers Tax Savings In Unexpected Places
The expanded state and local tax deduction championed by New York lawmakers is gaining favor around the U.S., benefiting well-heeled taxpayers in states like Ohio, Colorado, North Carolina, Michigan and Pennsylvania. “I saw benefits for clients in many states outside of the usual suspects,” said Emily Shacklett, a Cleveland-based managing director at Hightower Signature Wealth, who cited her experience with customers in each of those states.
SALT Break Sought by New York, California Pays Off Across the US
The expanded state and local tax deduction championed by New York lawmakers is gaining favor around the US, benefiting well-heeled taxpayers in states like Ohio, Colorado, North Carolina, Michigan and Pennsylvania. “I saw benefits for clients in many states outside of the usual suspects,” said Emily Shacklett, a Cleveland-based managing director at Hightower Signature Wealth, who cited her experience with customers in each of those states.
SALT Break Sought by New York, California Pays Off Across the US
The expanded state and local tax deduction championed by New York lawmakers is gaining favor around the US, benefiting well-heeled taxpayers in states like Ohio, Colorado, North Carolina, Michigan and Pennsylvania. “I saw benefits for clients in many states outside of the usual suspects,” said Emily Shacklett, a Cleveland-based managing director at Hightower Signature Wealth, who cited her experience with customers in each of those states.
SALT Break Sought by New York, California Pays Off Across the US
The expanded state and local tax deduction championed by New York lawmakers is gaining favor around the US, benefiting well-heeled taxpayers in states like Ohio, Colorado, North Carolina, Michigan and Pennsylvania. “I saw benefits for clients in many states outside of the usual suspects,” said Emily Shacklett, a Cleveland-based managing director at Hightower Signature Wealth, who cited her experience with customers in each of those states.
Bigger SALT Break Delivers Tax Savings in Unexpected Places
Photographer: Tom Williams/CR Roll Call/AP (Bloomberg) -- The expanded state and local tax deduction championed by New York lawmakers is gaining favor around the US, benefiting well-heeled taxpayers in states like Ohio, Colorado, North Carolina,...
Top House Democrat Probes 1789 Capital on Trump Family Ties (2)
The top Democrat on the House Judiciary Committee launched an investigation into 1789 Capital, a venture capital firm with ties to President Donald Trump’s eldest son, questioning the fund’s investments in companies boosted by the administration. Representative Jamie Raskin questioned the firm’s above-average returns since naming Donald Trump Jr. a partner days after his father’s election to a second term.
Top House Democrat probes 1789 Capital on Trump family ties
The top Democrat on the House Judiciary Committee launched an investigation into 1789 Capital, a venture capital firm with ties to President Donald Trump’s eldest son, questioning the fund’s investments in companies boosted by the administration. Rep. Jamie Raskin questioned the firm’s above-average returns since naming Donald Trump Jr. a partner days after his father’s election to a second term.
Top House Democrat probes 1789 Capital over Trump family ties
POLITICS Caitlin Reilly Bloomberg Aug. 27, 2026, 3:30 p.m. ET View Comments The top Democrat on the House Judiciary Committee launched an investigation into 1789 Capital, a venture capital firm with ties to President Donald Trump’s eldest son, questioning the fund’s investments in companies boosted by the administration. Representative Jamie Raskin questioned the firm’s above-average returns since naming Donald Trump Jr. a partner days after his father’s election to a second term.
Top House Democrat Probes 1789 Capital Over Trump Family Ties Original
(Bloomberg) -- The top Democrat on the House Judiciary Committee launched an investigation into 1789 Capital, a venture capital firm with ties to President Donald Trump's eldest son, questioning the fund's investments in companies boosted by the administration. • Putin Moves to Escalate War in Ukraine as Talks at Dead End Representative Jamie Raskin questioned the firm's above-average returns since naming Donald Trump Jr. a partner days after his father's election to a second term.
Top House Democrat Probes 1789 Capital Over Trump Family Ties
The top Democrat on the launched an investigation into , a venture capital firm with ties to President ’s eldest son, questioning the fund’s investments in companies boosted by the administration. Representative questioned the firm’s above-average returns since naming a partner his father’s election to a second term. Several of the fund’s portfolio companies, including , , and benefited from funding, contracts or regulatory decisions by the administration.
Trump-Backed Graham Wins South Carolina Runoff, DDHQ Projects
Aug. 26, 2026, 12:48 AM UTC Senator Darline Graham is projected to prevail in a Republican runoff to replace her late brother Lindsey Graham as the GOP candidate in South Carolina’s US Senate race, a victory aided by heavy support from President Donald Trump. With about 71% of the vote reporting, Graham led 53%-47% over Representative Ralph Norman, according to a tally by Decision Desk HQ.
Trump-Backed Darline Graham Wins Senate Runoff in South Carolina
Photographer: Megan Varner/Getty Images (Bloomberg) -- Senator Darline Graham prevailed in a Republican runoff to replace her late brother Lindsey Graham as the GOP candidate in South Carolina’s US Senate race, a victory aided by heavy support...
El confuso plan de Bessent para reducir el déficit enfrenta un Congreso reacio a recortar el gasto
Bloomberg — El plan de reducción del déficit prometido por el secretario del Tesoro de Estados Unidos, Scott Bessent, que se dará a conocer en los próximos días, se topará de lleno con una cruda realidad: no hay indicios de que el Congreso, controlado por los republicanos, vaya a realizar ningún recorte presupuestario neto este año.
Bessent’s Murky Deficit Plan Faces Grim Prospects in Congress
Aug. 24, 2026, 7:11 PM UTC Treasury Secretary Scott Bessent’s promised deficit reduction plan due in the coming days will plow headlong into a stark reality: there is no sign the Republican-controlled Congress is going to make any net budget cuts this year. “I don’t see anything on deficits because of the politics,” Republican Senator Thom Tillis of North Carolina told reporters Monday at the Capitol.
Bessent’s Murky Deficit Plan Faces Grim Prospects in Congress Original
Photographer: Yuri Gripas/Abaca/Bloomberg (Bloomberg) -- Treasury Secretary Scott Bessent’s promised deficit reduction plan due in the coming days will plow headlong into a stark reality: there is no sign the Republican-controlled Congress is...
Bessent’s Murky Deficit Plan Faces Grim Prospects in Congress
(Bloomberg) -- Treasury Secretary Scott Bessent's promised deficit reduction plan due in the coming days will plow headlong into a stark reality: there is no sign the Republican-controlled Congress is going to make any net budget cuts this year.
Trump busca limitar el acceso de los inmigrantes a cuatro créditos fiscales en EE.UU.
Bloomberg — La administración Trump tomó medidas con el fin de limitar todavía más el acceso de los inmigrantes a la parte reembolsable de cuatro créditos fiscales destinados a ayudar a estudiantes, trabajadores y familias.
House Epstein Panel Chair Threatens Leon Black With Contempt (1)
Aug. 19, 2026, 12:49 PM UTC The chairman of the House committee investigating Jeffrey Epstein threatened to hold Leon Black in contempt of Congress if he fails to appear before the panel next month or doesn’t produce nondisclosure agreements the panel has subpoenaed.
Treasury Seeks to Limit Immigrants’ Use of Some Tax Breaks
Bloomberg (Bloomberg) -- The Trump administration moved to further limit immigrants’ access to the refundable portion of four tax credits aimed at aiding students, workers and families.
House Epstein Panel Chair Threatens Leon Black With Contempt
The chairman of the House committee investigating Jeffrey Epstein threatened to hold Leon Black in contempt of Congress if he fails to appear before the panel next month or doesn’t produce nondisclosure agreements the panel has subpoenaed.
House Epstein Panel Chair Threatens Leon Black With Contempt Original
Photographer: Kevin Dietsch/Getty Images (Bloomberg) -- The chairman of the House committee investigating Jeffrey Epstein threatened to hold Leon Black in contempt of Congress if he fails to appear before the panel next month or doesn’t produce...
Richest to Profit in Trump's Capital Gain Tax Ideas for Midterms
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Richest to Profit in Trump's Capital Gain Tax Ideas for Midterms
scissors cutting the word tax The White House is considering throwing its weight behind a push to increase a capital gains tax exemption for primary home sales and cut levies on investments ahead of the midterm election — changes that would disproportionately flow to some of the wealthiest U.S. households. National Economic Council Director Kevin Hassett and Fox Business host Larry Kudlow on Tuesday touted the capital gains changes as potential economic policies to entice voters.
Richest to Profit in Trump’s Capital Gain Tax Ideas for Midterms
Aug. 12, 2026, 6:27 PM UTC The White House is considering throwing its weight behind a push to increase a capital gains tax exemption for primary home sales and cut levies on investments ahead of the midterm election — changes that would disproportionately flow to some of the wealthiest US households. National Economic Council Director Kevin Hassett and Fox Business host Larry Kudlow on Tuesday touted the capital gains changes as potential economic policies to entice voters.
Richest to Profit in Trump’s Capital Gain Tax Ideas for Midterms
The White House is considering throwing its weight behind a push to increase a capital gains tax exemption for primary home sales and cut levies on investments ahead of the midterm election — changes that would disproportionately flow to some of the wealthiest US households. National Economic Council Director and Fox Business host on Tuesday the capital gains changes as potential economic policies to entice voters.
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