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Under Trump tax plan divorces could get nastier

Donald Trump with ex-wife Marla Maples. Photo: Ron Galella / Getty

Under Trump's tax plan, divorcees in lower income brackets can exclude alimony payments from their taxable income but alimony payers no longer get a tax break, giving them less incentive to be generous to their former spouses.

Why it matters: In a recent survey, 64% of lawyers from the American Academy of Matrimonial Lawyers said that they expect divorces to become even more hostile because of the changes to the tax code.

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Caitlin Owens, author of Vitals
2 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

Go deeper (1 min. read)Arrow
Cara Shillenn, Courtenay Brown
2 hours ago - Economy & Business

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

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Jim VandeHei
3 hours ago - Politics & Policy

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.

Go deeper (1 min. read)Arrow