government document presenting the government's proposed revenues and spending for a fiscal year
Key FactsTrump Insults Black Reporter During Press Briefing
1 days ago · Reading time: ~45 sec.
Summary created with AI assistance · Source: buzzfeed.com
Summary created with AI assistance · Source: buzzfeed.com
- During a press conference before the Xi Summit, Trump responded harshly to inquiries about budget overruns on his DC construction projects.
- Reporter Akayla Gardner questioned the increase in costs for the ballroom and reflecting pool, which Trump defended by citing the project's doubled size.
- Trump directly insulted Gardner by calling her a 'dumb person,' asserting she misunderstood the situation.
- The incident sparked backlash, notably from the Washington Association of Black Journalists condemning Trump's treatment of Black women covering the White House.
I doubled the size of it, you dumb person.— Donald Trump to Akayla Gardner, MS NOW White House reporter, during a brief press conference before the Xi Summit in China, reacting to questions about budget overruns on the DC ballroom project.
Did Zohran Mamdani's New Budget Really Eliminate New York City’s Deficit?: The plan relies heavily on state aid, delayed pension payments, and optimistic revenue ...
time.com/article/2026/05/13/zohran-mamdani-new-york-city-deficit-budget-funding/
South African province puts up 960 CCTV cameras to keep an eye on its residents: South Africa's most populated province has spent more than R124 million on 960 ...
businesstech.co.za/news/government/860461/south-african-province-puts-up-960-cctv-cameras-to-keep-an-eye-on-its-residents/
Trump's Golden Dome Projected to Cost $1.2 Trillion and May Not Work as Advertised
time.com/article/2026/05/12/trump-s-golden-dome-projected-to-cost-1-2-trillion-over-20-years-and-may-not-work-as-advertised/
The deficit just grew by $955 billion in 7 months. It’s time for a constitutional fix to control the budget
fortune.com/2026/05/14/federal-budget-deficit-constitutional-amendment-article-v-hanke-walker/
Paid articlePaywall
Recalculation after ruling: Civil servants set to cost states hundreds of millions more
n-tv.de/politik/Beamte-sollen-Laender-teils-Hunderte-Millionen-mehr-kosten-id30821847.html
It pains me to say nice things about politicians, but this is a good budget: Treasurer Jim Chalmers says this is the budget that will finally do something to ...
smh.com.au/politics/federal/it-pains-me-to-say-nice-things-about-politicians-but-this-is-a-good-budget-20260512-p5zw5r.html
Newzroom Afrika 15h
[WATCH] Gauteng Finance MEC Nkululeko Dunga says 60% of the province’s R180-billion budget pays for human resources.
Baltimore officials say an unusually brutal winter and soaring overtime costs have pushed the city’s current budget into a $64.4 million deficit ... Show more
Baltimore budget deficit swells to $64M. Here’s why.
Baltimore budget deficit swells to $64M. Here’s why.
Federal budget 2026 LIVE updates: Treasurer Jim Chalmers confirms big changes to negative gearing, CGT and relief for workers
smh.com.au/politics/federal/federal-budget-2026-live-updates-capital-gains-tax-negative-gearing-changes-on-agenda-as-treasurer-jim-chalmers-prepares-to-flag-64-billion-in-savings-20260511-p5zvpw.html
Newsom outlines his final budget proposal with no deficit, no new major spending: California Gov. Gavin Newsom on Thursday proposed a revised budget proposal ...
lookout.co/newsom-outlines-his-final-budget-proposal-with-no-deficit-no-new-major-spending/story
Price Tag on Reflecting Pool Repairs Jumps Way Above Trump’s Promised Budget: Donald Trump's plan to repair and paint the Lincoln Memorial reflecting pool is far ...
mediaite.com/media/news/price-tag-on-reflecting-pool-repairs-jumps-way-above-trumps-promised-budget/
NYC dumping record $43B into public schools -- at whopping $44K per pupil -- despite plummeting enrollment, poor test results
nypost.com/2026/05/12/us-news/nyc-dumping-record-43b-into-public-schools-at-whopping-44k-per-pupil-despite-plummeting-enrollment-poor-test-results/
#EXCLUSIVE : It's still two years away from completion and $20 billion over budget, but once finished, the Snowy Hydro 2.0 will generate an extraordinary amount ... Show more
GTA 6: The Billion-Dollar Behemoth That Could Crash the Industry - IGN: Rockstar could leave a decimated industry in its wake.
ign.com/articles/gta-vi-the-billion-dollar-behemoth-that-could-crash-the-industry
Trump Offers U.S. Citizenship to 32 Million Venezuelans : Taking another zany plan by the president seriously because he cannot possibly do so.
newrepublic.com/article/210405/trump-venezuela-51st-state-citizenship
Live: Labor recruits former Jacqui Lambie senator Tammy Tyrrell: Former Jacqui Lambie senator Tammy Tyrrell defects to Labor. Follow live.
abc.net.au/news/2026-05-14/federal-politics-live-blog-budget-reaction/106676514
A budget that meets the moment but doesn’t yet prepare for the future: Long-awaited action on taxes producing perverse outcomes is to be welcomed but there is ...
smh.com.au/politics/federal/a-budget-that-meets-the-moment-but-doesn-t-yet-prepare-for-the-future-20260513-p5zwaq.html
Kemp chops food stamps, funds for foster children and veterans for tax cuts: Gov. Brian Kemp said "tough choices" came when the larger than expected tax cuts ...
ajc.com/politics/2026/05/kemp-chops-food-stamps-foster-child-and-veterans-funds-for-tax-cuts/
Cost Of Iran War Has Increased $4 Billion From Initial Estimate, Pentagon Says: Pentagon Comptroller Jay Hurst said the estimate increased “because of updated ...
forbes.com/sites/saradorn/2026/05/12/cost-of-iran-war-has-increased-4-billion-pentagon-says-but-some-estimates-say-its-closer-to-200-billion/
Mayor Mamdani says he has balanced NYC's budget, will not raise property taxes: New York City Mayor Zohran Mamdani said Tuesday his team has balanced the budget ...
cbsnews.com/newyork/news/nyc-budget-zohran-mamdani-property-taxes/
TSMC $TSM is scaling up in a big way. The semiconductor giant just approved a $20 billion capital hike for its Arizona manufacturing hub ... Show more
Snowy Hydro bracing for 10-fold cost blowout: The federal government remains committed to the renewable energy project, which is now two-thirds complete ...
smh.com.au/politics/federal/snowy-hydro-bracing-for-10-fold-cost-blowout-20260514-p5zx2r.html
Russia's treasury is benefiting more than expected from higher taxes on wealthy citizens. In the first quarter of 2026, approximately 52.4 billion rubles ... Show more
10 million Swiss citizens: Tax increase of 635 francs looms: If fewer workers immigrate, the Swiss population will age faster. This would also have consequences ...
tagesanzeiger.ch/10-millionen-initiative-steuererhoehung-von-635-franken-droht-935573910869
Paid articlePaywall
Taylor Swift, lawsuits and quirky exemptions: How empty homes tax works in other cities
sandiegouniontribune.com/2026/05/14/taylor-swift-lawsuits-and-quirky-exemptions-how-vacant-homes-property-tax-works-in-other-cities/
Trump spurs billion-dollar cuts to Labor’s green hydrogen dream: The federal budget has revealed a major change to government’s goals to revitalise local ...
smh.com.au/politics/federal/trump-spurs-billion-dollar-cuts-to-labor-s-green-hydrogen-dream-20260513-p5zw9e.html
Key FactsEU Budget Faces Calls for Major Overhaul
8 hours ago · Reading time: ~45 sec.
Summary created with AI assistance · Source: welt.de
Summary created with AI assistance · Source: welt.de
- Friedrich Merz criticizes the EU budget’s outdated structure, where more than two-thirds of funds go to redistribution and subsidies.
- He advocates for a streamlined budget prioritizing major investments in competitiveness and defense as outlined by Mario Draghi.
- Merz rejects new joint EU debt and insists on setting priorities without additional communal financing tools.
- Mario Draghi urges greater unity and annual investments of €800 billion to maintain global competitiveness.
Germany cannot go down this path for constitutional reasons.— Merz; keynote speech in Aachen on the EU budget
Focus on budget’s ‘broken promises’ misses the big picture: Long-overdue changes to the capital gains tax and negative gearing arrangements are a practical move ...
smh.com.au/national/nsw/focus-on-budget-s-broken-promises-misses-the-big-picture-20260513-p5zw9i.html
Capital gains tax and negative gearing benefit the 1% and this chart shows it: More than half of the benefit of the CGT concession went to the top 1% of income ...
theguardian.com/news/2026/may/13/australia-federal-budget-2026-tax-capital-gains-negative-gearing-housing-one-big-chart
National eyes KiwiSaver changes as Luxon hardens on immigration: The operating allowance for this year's Budget will also be smaller, Christopher Luxon announced ...
1news.co.nz/2026/05/13/national-eyes-kiwisaver-changes-as-luxon-hardens-on-immigration/
5 percent less for everyone? Who Spahn’s plan affects: Jens Spahn wants to cut subsidies to finance the tax reform. But the plan only partially works.
focus.de/finanzen/reformen/5-prozent-weniger-fuer-alle-wen-spahns-plan-trifft_b6f2e283-f008-43bf-9852-af0d9aae8a44.html
Key FactsSubsidy Cuts vs. Tax Reform Financing Debate
1 days ago · Reading time: ~45 sec.
Summary created with AI assistance · Source: focus.de
Summary created with AI assistance · Source: focus.de
- Jens Spahn proposes a uniform five percent reduction in all subsidies and tax benefits to fund income tax reform.
- This approach would generate around 3.8 billion euros annually, covering only about ten percent of the needed 30 billion euros.
- Concerns arise that this method shifts costs onto broad population groups who are intended to benefit from the tax relief.
- The SPD seeks to finance the relief mainly through higher taxes on top earners above approximately 105,000 euros and by reforming inheritance tax.
For me, it is absolutely clear that there can be no income tax reform in which the top earners in this country do not pay more.— German Federal Minister of Finance Lars Klingbeil (SPD) said this in the context of the discussion about financing the income tax reform.
Key FactsChina Condemns US Arms Sales to Taiwan Before Summit
2 days ago · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- China strongly opposes US arms sales to Taiwan and urges Washington to honor existing commitments ahead of the summit.
- Taiwan is regarded by China as a non-sovereign part of its territory that will never become an independent nation.
- Taiwan’s parliament approved only two-thirds of the requested $40 billion defense budget, raising concerns in the US.
- China may use Taiwan’s lowered defense spending to pressure the US to decrease military support during the Trump-Xi discussions.
Our resolve to oppose Taiwan independence is as firm as a rock, and our capability to crush Taiwan independence is unbreakable.— Zhang Han, spokesperson for China's Taiwan Affairs Office, speaking in Beijing
Ohio has collected $1.2B more in tax than expected; How should it be spent?: Ohio collected about $1.2 billion more in taxes than expected this fiscal year ...
cleveland.com/news/2026/05/ohio-has-collected-12b-more-in-tax-than-expected-how-should-it-be-spent.html
Ottawa funds planting of 95M trees across B.C.: Sixteen tree-planting projects will restore critical habitats for species at risk, areas affected by wildfire and ...
timescolonist.com/local-news/ottawa-funds-planting-of-95-million-trees-in-bc-12272045
‘You Dumb Person!’ Trump Blows His Top at Reporter Over Ballroom Budget Question: President Donald Trump lost his temper at a reporter on the White House lawn ...
mediaite.com/media/news/you-dumb-person-trump-blows-his-top-at-reporter-over-ballroom-budget-question/
Luxon shines his little light through global storms and political gloom: 'Why wouldn't you be an optimist?' Christopher Luxon says ...
newsroom.co.nz/2026/05/14/luxon-shines-his-little-light-through-global-storms-and-political-gloom/
Spooked investors could see house prices sink after big budget changes: The property industry is predicting that rents will be driven higher as investors choose ...
smh.com.au/politics/federal/spooked-investors-could-see-house-prices-sink-after-big-budget-changes-20260513-p5zwb4.html
Klingbeil: 87.5 billion euros less in revenue by 2030: Lars Klingbeil expects 87.5 billion euros less in tax revenue for the German state by 2030 due to the Iran ...
focus.de/finanzen/news/klingbeil-87-5-milliarden-euro-weniger-einnahmen-bis-2030_c667a74e-52a4-40b6-bb95-d4012586327f.html
,regionOfInterest=(595,360)&hash=66bc20a3caa91da5ab6376999529420fb4a4ed8842549b017939d9505e68b68f)
Key FactsMajor Tax Revenue Losses Linked to Iran Conflict
May 7, 2026 · Reading time: ~45 sec.
Summary created with AI assistance · Source: focus.de
Summary created with AI assistance · Source: focus.de
- In 2026, tax revenues for federal, state, and local governments are projected to drop by €17.8 billion, influenced by legal changes and forecast errors.
- The cumulative revenue shortfall through 2030 is estimated at €87.5 billion, including €39.8 billion in forecast deviations.
- Finance Minister Klingbeil attributes the losses to the Iran war and its global impact on energy prices, which slow economic momentum.
- The 2027 federal budget plans expenditures of €543.3 billion and is scheduled for cabinet submission in early July.
Today's tax estimate shows how much the Iran war is harming us economically. Trump's irresponsible war and the resulting global energy-price shock are temporarily dampening the positive economic momentum.— Lars Klingbeil, Federal Finance Minister (SPD), explained the impact of the Iran war on tax revenues and cited Trump's reckless war as a contributing factor.
Mail Online May 12
Albanese budget allocates tens of millions of dollars to investigate Australian soldiers over alleged war crimes in Afghanistan
dailymail.com/news/article-15810907/ADF-budget-ben-roberts-smith.html
Coalition vows to repeal Labor’s ‘toxic’ negative gearing and capital gains tax budget changes
theguardian.com/australia-news/2026/may/13/coalition-response-to-labor-federal-budget-reforms-negative-gearing-capital-gains-tax-cgt
$250 tax break for millions in budget's 'rebalance' of system for workers
abc.net.au/news/2026-05-12/federal-budget-2026-tax-break-for-millions-of-workers/106669972
‘I doubled the size of it you dumb person!’: Trump visibly annoyed with ballroom critics, it’s now big enough for a thousand partygoers
wegotthiscovered.com/politics/i-doubled-the-size-of-it-you-dumb-person-trump-visibly-annoyed-with-ballroom-critics-its-now-big-enough-for-a-thousand-partygoers/
'Fewer houses, higher rents': Opposition vows to try to stop tax changes
abc.net.au/news/2026-05-13/tax-reform-coalition-fight-budget-response/106673294
What's in the federal budget for older Australians?: Despite it being an intergenerational budget, specific parts of the economic strategy will impact older ...
abc.net.au/news/2026-05-13/federal-budget-impact-on-older-australians/106671572
How Australians across generations feel about the budget: The ABC has asked Australians across generations, from gen Z to baby boomers, about the latest federal ...
abc.net.au/news/2026-05-13/australians-across-the-generation-federal-budget/106666810
Key FactsSpain Faces Allegations of Misusing EU Pandemic Funds
3 days ago · Reading time: ~45 sec.
Summary created with AI assistance · Source: welt.de
Summary created with AI assistance · Source: welt.de
- Spanish media accuse Prime Minister Pedro Sánchez’s administration of redirecting over €10 billion intended for pandemic relief to cover budget gaps.
- By the end of 2024, €2.39 billion was allocated to civil servant pensions and minimum social security pensions, with €8.5 billion more in 2025.
- The European Taxpayers Association calls for full disclosure, fund recovery, and legal action over the alleged misappropriation of EU money.
- Spanish officials defend the legality of the fund usage despite sharp criticism from EU lawmakers demanding protection for taxpayers.
We demand clarification, full disclosure, the recovery of the funds, and criminal consequences.— Michael Jäger, president of the European Taxpayers' Federation, told Bild newspaper about the reports of the misappropriation of EU funds in Spain.
Federal budget 2026 winners and losers: rich families, overseas travellers and illegal tobacco – summary
theguardian.com/australia-news/2026/may/12/federal-budget-2026-summary-winners-and-losers
Dulliken: 2025 annual accounts with a loss of almost 3 million francs: Dulliken's 2025 annual accounts were worse than budgeted. The municipality is sounding ...
oltnertagblatt.ch/solothurn/niederamt/dulliken-jahresrechnung-2025-mit-fast-3-millionen-franken-verlust-ld.4167934
Live updates: Hegseth defends $1.5 trillion budget request before Congress as cost of Iran war climbs
apnews.com/live/trump-administration-updates-05-12-2026
TSMC approves US$31.38 billion capital budget for expansion - Focus Taiwan: Taiwan Semiconductor Manufacturing Co. (TSMC) has approved a capital budget of US$31 ...
focustaiwan.tw/business/202605120026
Parcel tax: Austria doesn't need left-pocket-right-pocket penny politics: To offset the VAT reduction on food, there is now a new tax for online orders ...
diepresse.com/23482583/paketabgabe-oesterreich-braucht-keine-linke-tasche-rechte-tasche
EWN May 12
SASSA failed to budget for Postbank grant contract, ConCourt hears: The ongoing legal battle between SASSA and Postbank reached the apex court following the ...
ewn.co.za/2026/05/12/sassa-failed-to-budget-for-postbank-grant-contract-concourt-hears
Some people will hate Tuesday's federal budget but Jim Chalmers doesn't mind
abc.net.au/news/2026-05-09/jim-chalmers-bracing-for-fear-campaign-after-tax-reform-budget/106660318
The government has missed one idea to get housing back on track: If it's serious about improving intergenerational fairness and housing affordability in ...
abc.net.au/news/2026-05-11/federal-budget-housing-build-more-homes/106663204
B.C. spent almost $100M on hospital, long-term care projects now on hold: The expansion of Burnaby Hospital and seven long-term care facilities were originally ...
vancouversun.com/news/money-spent-projects-cancelled-contracts-bc-burnaby
businesstech.co.za May 11
Kganyago sends a warning to the United States, and the DA in hot water in Cape Town
businesstech.co.za/news/5-things/859992/kganyago-sends-a-warning-to-the-united-states-and-the-da-in-hot-water-in-cape-town/
Everything we know so far about the federal budget: Budget night features a lot of political talk and policy wonkiness, but the government's plan will ...
abc.net.au/news/2026-05-11/when-is-the-2026-federal-budget/106656890
Trump’s ballroom funding hits Republican turbulence : “The $1 billion dollars? I have questions,” said one Republican senator.
semafor.com/article/05/11/2026/trumps-ballroom-funding-hits-republican-turbulence
