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Trump Media & Technology Group Corp. showed “material weakness” in internal controls over financial reporting, raising risks of misstatements, the firm’s latest quarterly result showed. The company carried out an evaluation of its disclosures and controls and found that procedures were not effective, the report said. It cited “failure to design and maintain formal accounting policies, processes and controls to analyze, and account for complex transactions as well as a need for additional accounting personnel who have the requisite experience in SEC reporting regulation.”The findings come after the company posted a net loss of $31.7 million for the first quarter, which…

House Republicans are struggling to resolve key issues with President Donald Trump’s multitrillion-dollar tax package after weekend talks, including a change in the deduction cap for state and local taxes and a potential hike in the rate for high earners.Key GOP-led committees dribbled out parts of their plan over the weekend, such as an increase in the maximum child tax credit to $2,500 and raising the estate tax exemption to $15 million. Those were items in an incomplete menu of proposals required to be released before Monday.On the government savings side, the Energy and Commerce Committee proposed on Sunday a…

House Republicans want to impose work requirements on some Medicaid recipients up to 64 years old and impose more costs on some beneficiaries to help pay for President Donald Trump’s planned sweeping tax package.The moves, unveiled by Republican leaders in draft legislation Sunday night, are described as ways to better protect coverage to people who most need it. Critics counter that millions of recipients will have trouble navigating complex reporting systems and lose coverage. The proposed cuts to the federal health insurance program that offers coverage for poor and disabled Americans are shaping up as one of the most contentious fights…

House Republicans plan to help pay for an extension of President Donald Trump’s massive tax cuts by clawing back unused funds from scores of programs and grants in his predecessor’s signature climate law. Billions of dollars allocated under former President Joe Biden’s Inflation Reduction Act would be rescinded under a portion of Trump’s sweeping tax package released by a key House committee on Sunday. That includes funds channeled to the Energy Department’s $400 billion green bank loan program, and to industrial facilities to help lower their greenhouse gas emissions, according to a GOP summary of the House energy and commerce committee’s…

The House Ways and Means Committee on Friday night released a partial version of President Donald Trump’s tax proposal that calls for increasing the maximum child tax credit to $2,500 and raising the estate tax exemption to $15 million.”Ways and Means Republicans have spent two years preparing for this moment, and we will deliver for the American people,” Representative Jason Smith of Missouri, the committee’s chairman, said in a statement.The 28-page document is slated to be expanded before the committee votes on it this week. It provides a framework to achieve Trump’s campaign promise to extend his 2017 tax overhaul. It…

Marquee at the main entrance to the FOX News Headquarters at NewsCorp Building in Manhattan. Erik Mcgregor | Lightrocket | Getty ImagesFox Corp. will launch its direct-to-consumer streaming service, to be called Fox One, ahead of the National Football League season later this year.Fox CEO Lachlan Murdoch unveiled the name and timing of the company’s upcoming streamer during a quarterly earnings call Monday. The exact launch date and pricing will be announced in the coming months.While Murdoch didn’t give specifics on pricing, he said during Monday’s call it would be in line with so-called wholesale pricing, meaning it would be similar…