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Tech titan Elon Musk ratcheted up his offensive against Donald Trump’s signature tax bill on Wednesday, urging that Americans contact their lawmakers to “KILL” the legislation.”Call your Senator, Call your Congressman,” Musk wrote in a social media post. “Bankrupting America is NOT ok!”The post came one day after Musk lashed out at the tax bill, describing it as a budget-busting “disgusting abomination” as Republican fiscal hawks stepped up criticism of the massive fiscal package. Trump hasn’t publicly responded to Musk’s comments, but the White House put out a statement Wednesday saying the legislation “unleashes an era of unprecedented economic growth.” And House…

CrowdStrike Holdings Inc. said U.S. officials have asked for information related to the accounting of deals it’s made with some customers and said the cybersecurity firm is cooperating with the inquiry.The Austin, Texas-based company said in a filing Wednesday that it has gotten “requests for information” from the U.S. Department of Justice and the Securities and Exchange Commission “relating to the company’s recognition of revenue and reporting of ARR for transactions with certain customers.” ARR refers to annual recurring revenue, a measure of earnings from subscriptions.The company said the federal officials have also sought information related to a CrowdStrike update…

Rep. Ro Khanna says he’s “glad” Elon Musk is “speaking up” about budget bill – CBS News Watch CBS News What do Democrats think about Elon Musk’s call to kill the Trump agenda budget bill? Rep. Ro Khanna of California joins “The Takeout” with his reaction. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Senate Majority Leader John Thune believes the deal that led the House to increase the maximum deduction for state and local taxes to $40,000 will have to be changed in his chamber, according to his office.  The Senate has begun deliberations over President Donald Trump’s massive “Big Beautiful Bill” that narrowly passed the House on May 22, with several Republican senators expressing concerns over its cost as well as cuts to Medicaid and clean energy tax credits.Ryan Wrasse, a Thune spokesman, did not provide details about how, exactly, the deal might be revised.   Republican lawmakers from states like New York and California…

The House-passed version of President Donald Trump’s tax and spending bill would add $2.42 trillion to U.S. budget deficits over the next decade, according to a new estimate from the nonpartisan Congressional Budget Office.The CBO’s calculation, released Wednesday in its so-called scoring of the “One Big Beautiful Bill,” reflects a $3.67 trillion decrease in expected revenues and a $1.25 trillion decline in spending over the decade through 2034, relative to baseline projections.Prospects for an even more dire U.S. fiscal trajectory threaten to stoke concerns about the bill among GOP fiscal hawks. Trump ally Elon Musk on Tuesday blasted the package…

Private sector employment increased by only 37,000 jobs in May, payroll giant ADP reported Wednesday, down from a revised figure of 60,000 in April, while annual pay increased 4.5% year over year.The professional and business services sector, which includes accounting and tax preparation services, lost 17,000 jobs, although the financial activities sector, which includes banking,  gained 20,000 jobs. The goods-producing sector lost 2,000 jobs.”May job growth slowed for the second straight month, and this is after a strong start to the year where hiring was really solid, we’re seeing that same hiring lose momentum,” said ADP chief economist Nela Richards…