Months after Dells' $6.25Bn ‘gift’, US Treasury sets new Trump Account paycheck rules
New rules from the US Treasury and IRS will allow payroll contributions to Trump Accounts. Employers can contribute up to $2,500 tax-free annually for employees' dependent children. Employees will also have the option to make pre-tax paycheck contributions directly into these accounts. Michael and Susan Dell pledged $6.25 billion to fund this child savings initiative. The proposed regulations are…
Elon Musk's political network is set to allocate at least $100 million in support of Republican candidates during the November midterms, The New York Times reveals. The multimillionaire, who previously backed President Donald Trump during the 2024 campaign with nearly $300 million, has authorized America PAC to launch a voter-turnout operation in eight states.
Initial focus is on Senate races in Alaska, Iowa, Maine, Michigan, and Ohio, with discussions underway for contests in North Carolina, Georgia, and Texas. House races in California, Wisconsin, and Washington are also being targeted. Musk's strategy aims to capitalize on Republican gains if Democrats seize control of Congress, as his ventures depend on government contracts.
He is once again under the leadership of Chris Young, his political adviser from the 2024 election, to oversee field operations. The strained relationship between Musk and Trump, which culminated in Musk's planned third political party, has since mended, with Musk's top political adviser playing a pivotal role in maintaining communication.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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