Author: Daniel snow

U.S. President Donald Trump attends a meeting with NATO Secretary General Jens Stoltenberg ahead of the NATO summit in Watford, in London, Britain, December 3, 2019.Kevin Lamarque | ReutersBefore this week’s annual NATO summit had even begun, allies reportedly agreed on Sunday to hike their defense spending to 5% of gross domestic product (GDP) by 2035. Getting to that target, however is another matter.The 5% figure is made up of 3.5% of GDP that should be spent on “pure” defense, with an extra 1.5% of GDP going to security-related infrastructure, such as cyber warfare capabilities and intelligence.The Western military alliance’s…

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Sen. Tim Scott (R-SC) speaks on stage on the first day of the Republican National Convention at the Fiserv Forum on July 15, 2024 in Milwaukee, Wisconsin. Chip Somodevilla | Getty ImagesTwo Republican senators are planning to debut a framework on Tuesday for a major bill that would set the rules of the road for digital assets.According to the framework, being introduced by Senate Banking Chairman Tim Scott of South Carolina and Sen. Cynthia Lummis of Wyoming, who heads the panel’s digital assets committee, the future bill will define when crypto is a commodity or a security, allow crypto exchanges to…

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A Rolls-Royce Spectre all electric luxury coupe is displayed at Rolls-Royce Motor Cars dealership showroom in London.John Keeble | Getty Images News | Getty ImagesRepublicans are trying to make good on President Donald Trump’s campaign promise to give Americans a tax break on their car loan interest. However, as structured, most households wouldn’t get a substantial financial benefit, economists said.House and Senate Republicans proposed giving drivers a tax deduction of up to $10,000 on annual interest for new auto loans in their so-called “One Big Beautiful Bill Act.” The tax break would be temporary, ending after 2028.But few drivers pay…

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