Elon Musk Sets His Sight on Helping Foment Massive Bank Fraud (2024)

Democrats forgot to read the fine print on a bill and spoon-fed a huge victory to Republicans who want to kill the IRS.

The Wall Street Journal is reporting that the IRS’s tax enforcement fund, which allowed the IRS to better audit corporations and the wealthiest households, is now $20 billion in the red—leaving the fund’s future up in the air.

In 2022, when Democrats had a trifecta hold over the government, they put $80 billion toward the IRS, which was supposed to help the agency hire, modernize, and enforce through the next decade. When Republicans took the House back in 2023, they started making cuts to that fund to protect their rich friends and corporate interests, placing a $1.4 billion cut and then another $20 billion cut into deals they made with Biden last year.

This year’s stopgap funding bill—meant to keep the government open through December 20—kept the same $20 billion cut in the text. Congressional Republicans noticed that the Democrats didn’t notice its inclusion and watched silently with glee as yet another massive slash was made to one of the most important agencies we have.

“Our concern right now is that because of this risk to the IRS and the uncertainty of it, the IRS is going to potentially have to make dramatic decisions about stopping hiring,” Deputy Treasury Secretary Wally Adeyemo told the Journal. “They are running low on enforcement dollars today.”

Donald Trump’s pick for the secretary of the Navy isn’t sitting well even with some MAGA faithful.

Trump announced Tuesday evening that he had selected John Phelan, founder and chairman of the private investment firm Rugger Management, to head the Navy. “A true Champion of American Enterprise and Ingenuity!” Trump wrote in a statement. “John’s intelligence and leadership are unmatched. John holds an MBA from the Harvard Business School, and is a truly brilliant guy! His incredible knowledge and experience will elevate the lives of the brave Americans who serve our Nation.”

Phelan is a somewhat curious choice, considering he has no military experience. Military Times reports that, if confirmed by the Senate, he “would be the first permanent Navy secretary without military experience since 2009, when Donald Winter finished up his three-year term in the role. Unlike Winter, who previously had worked within the Pentagon and on Navy contracts at major defense firms, Phelan has little public connection to the sea service.” Phelan is, however, on the board of a nonprofit “dedicated to supporting troops and diplomats worldwide.”

A detail that perhaps clarifies Trump’s decision: Along with his record as a businessman, Phelan was a Trump campaign megadonor. He reportedly donated more than $800,000 to Trump’s joint fundraising committee in April. This summer, he and his wife hosted a Trump campaign fundraising dinner at their $38 million home, “where attendees were required to donate anywhere from $25,000 to $500,000 a couple,” per The Guardian.

Online, even some of Trump’s supporters are questioning the pick and interpreting it as a display of cronyism.

One X user who sports “#MAGA” in her bio wrote: “This makes ZERO sense. NONE. How is Trump naming a hedge fund guy as Secretary of the Navy??? WTH??? I’m a huge Trump supporter, but we need MILITARY COMMANDERS running military branches.”

“Questioning the John Phelan pick,” posted another “Pro-Trump” user. “Feels like rewarding a cronie as he has no military experience. But, if his focus is going to be on making sure that the supply chain is up to stuff so that the Navy can build the ships it needs, it may be okay.”

Other conservative X users asked, “Ummm, why? He has never served in the Navy,” observed the appointment “seems like a gift,” and deemed it a “weird choice to nominate a person with no military experience to lead a branch of the military.”

“The Secretary of the Navy should be someone who served in the Navy,” posted user “Ms. Deplorable.”

Similar sentiments can be found in responses to the announcement on Trump’s Truth Social platform. One user wrote, “As a Veteran of the U.S. Navy, I want a Sailor in charge!! Not some walstreet billionaire with ZERO Military experience!! You got this wrong DJT!!!”

Another said the choice “feels like you’re rewarding a friend/donor.”

A cadre of progressive Democrats is urging President Biden to change federal marijuana laws before his lame-duck presidency ends.

Senators Elizabeth Warren and Ron Wyden, as well as Representatives Ilhan Omar, Barbara Lee, and Earl Blumenauer all helped write a letter to Biden on Tuesday asking him to deschedule marijuana and restrict federal marijuana prosecutions before his term ends.

The letter, also signed by Senator Bernie Sanders, Cory Booker, and others, notes that the mere descheduling of marijuana “will not end federal criminalization, resolve its harms, or meaningfully address the gap between federal and state cannabis policy. Possession and use of recreational marijuana—and much state-legal medical marijuana—will continue to be a violation of federal law.”

Marijuana deregulation has been caught in limbo for some time now. While many progressive Democrats have pushed for full decriminalization of the popular recreational and medicinal drug, the letter asked Biden to reschedule the drug from Schedule 1—where heroin is at—to Schedule 3 alongside ketamine.

And while Biden’s 2022 federal marijuana conviction pardons were notable, the letter points out that at least 3,000 people are still locked up. The letter also points out that “of the almost 700,000 drug possession arrests each year, one-third are for marijuana possession, and Black Americans are almost four times more likely than white Americans to be arrested for marijuana possession.”