Today we’re covering:

• 💵 Donald Trump’s plan to fix the economy,

• 🚔 Hunter Biden indicted on federal gun charges,

• 🚀 House Republicans Investigate Biden Administration's Maui Handling,

• And everything else you need to know.

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2024 ELECTION

Former President Trump’s Tax Cut Plan for 2024

Here is what is going on: Former president Donald Trump is getting set to make some significant tax cuts to run on in 2024, according to his closest economic advisers. The proposal would expand on his 2017 Tax Cuts and Jobs Act, which represented the biggest revision to the tax code since the 1980s.

• What to anticipate: There will probably be cuts for people in all income brackets. However, similar to the 2017 legislation, businesses are anticipated to see the biggest reductions, possibly from 21 to 15 percent.

The tradeoff: Tax reductions result in decreased revenue for the government. The Trump campaign will probably combine this tax cut with a 10 percent import tax, which would bring in a lot of money, to make up for the loss. Trump's advisers are thinking about giving American households a dividend out of that money.

• Centered on employees: Polls indicate that Americans want corporations to pay greater taxes, and many have criticized Trump for initially favoring corporations. On the other hand, under Trump, a sizable majority of middle-class Americans saw their taxes reduced.

Why it is important: For voters, the economy remains the most crucial issue. This is especially true right now when America is experiencing record deficits, high-interest rates, and rising inflation. The disparate economic philosophies of the presidential contenders will be a major topic of debate in the 2024 election because the majority of Americans don't feel good about the state of the economy.

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TRENDING IN AMERICA

Hunter Biden was indicted on federal gun charges

Here is what is going on: President Joe Biden's son Hunter Biden was charged on three federal counts of faking a weapons application in 2018 by failing to disclose his drug use. Two counts of making false statements regarding drug use when purchasing a firearm and one count of having a firearm in your possession while abusing drugs are included in the indictment. Additional tax-related charges could still be pending after a prior plea agreement fell through. The constitutionality of the agreement and probable long-term consequences for Biden worried the judge.

WASHINGTON D.C

House Republicans Investigate Biden Administration's Maui Handling,

Here is what is going on: The Biden administration's response to the Maui, Hawaii, wildfires is the subject of an investigation by House Republicans. James Comer, the chairman of the House Oversight Committee, and Pete Sessions, the chairman of government operations, are leading the probe, which aims to ensure effective use of tax dollars and prompt aid to communities affected by the tragedy. FEMA officials living in five-star hotels, a potential delay in the federal response, and communication issues following the wildfire are all causes for concern. In the letter, President Biden is criticized for his alleged lack of compassion and lackluster response, which included giving $700 payments to affected families while disparaging help to Ukraine. On August 8, the wildfires devastated Lahaina and resulted in numerous fatalities.