Trump’s Approach to Pardons During his first term, President Donald Trump issued a total of 238 pardons and commutations (143 pardons and 85 commutations). Like presidents before him, the majority of those receiving commutations had served a significant part of their prison term while most all of those pardoned had completed their sentence years ago. In fact, most executive orders for commutations come in the final days of the administration, not at the beginning. In terms of raw numbers, Trump’s 238 clemency actions in his first term rank lower compared to other recent presidents, particularly Barack Obama. However, his total…

Lee R. Baker, Jr., of Alaska was involved in a business deal not related to his law practice with a fellow by the name of Kenneth Duffus. This deal related to a real estate project known as Marion Bowen, and it apparently crashed around the time of the 2008 downturn. In that year, Duffus sued Baker and Baker confessed to a judgment of $150,000 along with 10.5% compounded annual interest, which was to be paid if the Marion Bowen project did not sell within five years. But it did not sell and, in 2013, Duffus finally took final judgment against…

During challenging financial times, people often consider withdrawing money from their 401(k) plans. Balances in 401(k) plans are deceiving. They are not like checking accounts where what you see is what you can withdraw. If you have not been saving in the Roth portion of a 401(k) plan, the money has not yet been taxed. Roth 401(k) accounts are subject to a 5-year holding rule. For most people, withdrawing from a 401(k) before age 59½ triggers early withdrawal penalties. But there are times when it makes financial sense to tap into these retirement savings early. This article will walk you…

This column was co-authored with my Tax Policy Center colleague Bill Gale The recently-passed House budget bill, which extends all of the expiring provisions in the 2017 Tax Cuts and Jobs Act while adding tens of billions of dollars in new tax cuts, can be called many things, but tax reform is not among them. Improving the tax system requires policymakers to carefully balance efficiency, equity, and simplicity. And in the current fiscal environment, it means achieving these goals while reducing, or at least not increasing, the massive federal debt. These aims are challenging and often conflict with one another.…

Republicans in the House of Representatives passed the GOP “One, Big Beautiful” budget bill which included a provision for Trump Accounts. Previously called “MAGA Accounts Contribution Pilot Program,” in which MAGA stood for Money Account for Growth and Advancement, this provision is similar to the $5,000 Baby Bond suggested by Senator Hillary Clinton when she was running for President. What is a Trump Account? The Trump Account is a tax-deferred investment account that the Treasury Department would set up automatically for each eligible child born in 2025 through 2028. They call it a savings account but it will act more…

OIG Report This month, the Department of Justice (DOJ) Inspector General Michael E. Horowitz announced the release of an evaluation assessing the Federal Bureau of Prisons’ (BOP) practices regarding colorectal cancer (screenings for inmates and the follow-up care provided after positive screenings. The DOJ’s Office of the Inspector General (OIG) identified significant operational and managerial shortcomings that the BOP must address to ensure inmates receive appropriate screening and treatment for CRC. The failure to conduct annual CRC screenings, as outlined by BOP clinical guidelines, raises risks and could lead to worse clinical outcomes for inmates, potentially resulting in significantly higher…

Just as things were starting to return to today’s normal, Donald Trump announced on Truth Social a 50% tariff on EU countries, starting June 1. And then he decided that iPhones should carry a “Tariff of at least 25%” until the entire product is “manufactured and built” in the U.S. The impact was a drop in the values of the S&P 500, Dow Jones Industrial Average, Nasdaq, and the Russell 2000 stock indexes. The dollar dropped compared to other major currencies. The VIX, a measure of volatility, jumped, as did the price of gold, as might be expected at a…

The tech world runs on buzzwords, but “automation” is more than a Silicon Valley flex, it’s the backbone of the innovation economy. Leaders like Realistic Computing CEO,Sequoia Ramsey, Simplicity IT CEO, Ameer Abdur-Razzaaq and Real Impact Technology CEO, Nyasha Tunduwani are building automation-first companies for organizations around the world. As businesses seek to future-proof their operations and scale efficiently, building automation-first companies has emerged as a non-negotiable strategy for success in a tech-driven society. The Breakdown You Need To Know: Business automation brings advantages that go way beyond just making things faster. A recent McKinsey report shows companies that make…

Financial literacy in America has long faced a disconnect between education and application. While there has been improvement in financial education in the country, too many individuals, particularly in underserved communities, still lack the personal guidance necessary to translate knowledge into financial well-being. Recognizing this, Wells Fargo and Operation HOPE have partnered to offer free, in-person financial coaching within bank branches with the Hope Inside program. What Is Hope Inside? Hope Inside is a place-based financial coaching initiative created through a partnership between Wells Fargo and the national nonprofit Operation HOPE. Under this program, trained financial coaches are stationed directly…

A federal court in Massachusetts issued a major order on Thursday blocking President Donald Trump and Education Secretary Linda McMahon from dismantling the Department of Education and transferring the federal student loan portfolio to another agency. The court concluded that the administration’s unilateral actions without approval by Congress were unlawful. The ruling also instructs the department to reinstate scores of fired employees, which could have implications for thousands of federal student loan borrowers. “The Department’s role in education across the nation cannot be understated: it administers the federal student loan portfolio, provides research and technological assistance to states and their…