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How Florida can tax the rich
This is Seeking Rents, a newsletter and podcast devoted to producing independent journalism about Florida politics, with an emphasis on the ways that big businesses and other special interests influence public policy in the state. Seeking Rents is produced by veteran investigative journalist Jason Garcia, and it is free to all. But you can support my work by becoming a paid subscriber and/or by making a one-time donation. Subscribe Welcome to another installment of Florida in Five: Five* stories you need to read from the past week in Florida politics. The very last bill that Jeb Bush ever signed as governor of Florida eliminated a state tax on investment holdings like stocks, bonds and mutual funds. It was known as the “intangibles tax,” and it was a type of property tax — but one levied on financial assets rather than land and buildings. And Bush, who grew up summering at the family compound in Kennebunkport, Maine, had made abolishing the intangibles tax one of his top policy goals from the moment he was sworn in as governor. Bush used to call it a tax on “seniors and savers.” But it was really a tax on the rich: By the time he and Florida’s Republican-controlled Legislature repealed it in 2006, a married couple had to have at least $500,000 in non-retirement investments — more than $800,000 in today’s inflation-adjusted dollars — before they paid a dime. The average intangibles taxpayer was a millionaire, and rainy day or retirement funds like personal savings accounts and 401(k) plans were completely exempt. The intangibles tax on investments has been dead for 20 years now. But perhaps it’s time for a resurrection. The hard truth is that Florida is going to have to raise revenue from somewhere soon. Voters just approved Amendment 3, the constitutional amendment that will immediately hand a supersized tax break to homeowners and set the state on a path to eliminating all property taxes homeowners currently pay to support municipal services like police, fire, parks and more. Some cities and counties could quickly lose nearly a third of their general funds. And despite what some of the armchair shitposters seem to believe, you can’t simply cut your way out of deficits like that — unless you’re prepared to start amputating limbs. There are already discussions of higher sales taxes, special property assessments, and flat user fees that threaten to turn libraries and boat ramps into toll roads. But those are all sources of revenue that would fall hardest on working- and middle-class Floridians — in a state that already has the country’s most upside-down tax code. Bringing back the intangibles tax wouldn’t be a panacea. Economists estimate that 1 mill — essentially $1,000 of tax on every $1 million of investments — would raise a little more than $700 million a year. Amendment 3, by contrast, is expected to cost cities, counties and towns more than $12 billion a year — and that’s before the newly-quintupled homestead exemption begins to escalate beyond $250,000. But an intangibles tax could help soften some of the coming service cuts. And it would do so in a way that makes the billionaires who bankroll too many of Florida’s top politicians carry some of the weight of Amendment 3. There is an even bolder step that Gov.-elect Byron Donalds and the new, more narrowly divided Legislature could take to raise revenue — one that would support Florida’s small businesses to boot. It’s a policy known as “combined reporting.” And it would effectively close tax loopholes that many of the world’s largest corporations — corporations that are earning billions of dollars in profits in Florida — are using to dodge the state’s corporate income tax. I’ve been writing about combined reporting for years — at the Orlando Sentinel, at Florida Trend, and repeatedly here at Seeking Rents — so I won’t get deep in the weeds on it again right now. But, at the most basic level, combined reporting makes it harder for a corporation to game the tax code by moving money from one pocket to another. Florida is one of a minority of states that still uses an antiquated approach called “separate reporting.” Under separate reporting, a multinational corporation that has hundreds of different subsidiaries can pretend that each of those entities is an independent company for tax purposes. It will have some of those subsidiaries file tax returns in Florida, and it will make sure that many others do not. The setup enables corporations to transfer money between those subsidiaries in order to open and exploit gaps in tax rules. This is why, to name one very basic example, so many corporations are able to shave millions of dollars from their Florida tax bills just by paying themselves to use their own names and logos. Combined reporting is both simpler and fairer. All combined reporting does is require a corporation to file a single unified tax return — just like the single unified corporation it actually is. That alone closes off many of the tax-dodging strategies available under separate reporting. Would you like to support Seeking Rents without becoming a subscriber? Already a paid subscriber but want to do more to help sustain my work? Click below to make a one-time donation. Support Seeking Rents By some recent estimates, combined reporting would generate more than $2 billion in revenue for Florida, which would go a long way to easing the looming Amendment 3 austerity. But just as importantly, combined reporting would also level the competitive playing field for Florida’s small businesses — locally owned businesses that don’t have the teams of accountants, lawyers and lobbyists needed to set up intangibles holding companies in Delaware or pull off a “double Irish with a Dutch sandwich.” There is no doubt that Amendment 3 is going to force a lot of hard choices across Florida over the next few years. But it’s also going to create some real opportunities for positive reform. *To paraphrase Barbossa, five is more what you’d call a guideline than an actual rule. Well, well, well, if it isn’t the consequences of my own actions St. Patrick’s Day parade canceled in Florida thanks to state’s anti-DEI law (NBC News) See also: In wake of ‘blue tsunami,’ Miami moves to gut LGBTQ board, repeal affirmative action programs (Florida Trib) Speaking of consequences… ‘It’s going to be painful’: St. Johns County puts fire station on hold, plans staff cuts amid Amendment 3 fallout (News4Jax) See also: Sheriff Orders Staff to Prepare Drastic Cuts: ‘Everything Is On the Table,’ From Helicopter to Body Cams to Service Cuts (FlaglerLive) See also: After Florida voters approve property tax relief, Immokalee Fire faces funding dilemma (WINK) See also: Florida county delays hiring new firefighters, citing Amendment 3 (Treasure Coast Newspapers) ($) See also: Broward children’s council expects to lose up to $17 million in 2027 after the passing of Amendment 3 (CBS News Miami) See also: Safety Harbor considers canceling holiday parade, other events to cut costs (Bay News 9) See also: Property tax amendment could lead to more private industry in government (WLRN) Watch also: Florida Trib Live: Assessing the impact of Amendment 3 (Florida Trib) The last remaining MAGA state? State to cover full cost of Trump airport rebranding in West Palm (Palm Beach Post) ($) See also: Uthmeier subpoenas Democratic Socialists regarding alleged foreign contributions (Florida Phoenix) See also: Florida AG calls state’s bump stock ban unconstitutional, says office will no longer defend it (CBS News Miami) See also: Conservative media brand Newsmax buys ‘Voice of the Cuban Exile (Miami New Times) See also: 287-gag order? Doral city attorney blocks discussion about exiting ICE agreement (Miami New Times) Pay attention to Byron Donalds’ PSC appointments FPL wrongly raised rates while regulators stood by, consumer advocate says (Tampa Bay Times) ($) See also: University of Miami trustees chairman to lead Byron Donalds’ transition team (Miami Herald) ($) See also: Byron Donalds’ transition team includes founder of billionaire-funded think tank that targeted child labor protections, labor unions (Orlando Weekly) When it rains it pours How much rain can Florida take? Recent ‘rain bombs’ offer a troubling preview (Miami Herald) See also: Environmentalists leery of plan to blast, pump and mine area south of Lake O (Florida Trib) Stories to watch as session approaches GOP’s hold on Florida could chart the future of data centers (Politico Florida) See also: Florida regulators reject Duke Energy’s data center plan as too risky for consumers (Tampa Bay Times) ($) See also: Developer uses new state law to turn county golf courses into housing (Palm Beach Post) ($) See also: District level reform’: How Success Academy hopes to change education in Florida (Miami Herald) ($) See also: Why is Publix battling in the Florida Supreme Court? (WKMG) The Florida swamp does D.C. Flying by pricey military jet, Rubio rarely misses a Florida football game (Washington Post) ($) See also: Susie Wiles’ old lobbying firm made $186 million under Trump. Now it’s caught in MAGA’s feud. (CBS News) cc: Governor’s Office and Legislature Nebraska Rushed Medicaid Work Rules. Then a Cancer Patient Was Told He’d Lost Coverage. (KFF Health News) See also: Trump Administration Delays Enforcement of Medicaid Work Requirement (New York Times) ($) Perspectives Amendment 3 Passed (Policy 68) The Shamelessness of Marco Rubio (The Atlantic) ($) Never Rubio (The Bulwark) The midterms sent a message. It’s time for South Florida to cut ties with ICE. (Miami New Times) Feds consider letting destructive shrimping into protected Florida reef (Florida Phoenix) 3 ways to help fight for public records and transparent government in Florida (Orlando Sentinel) ($)
WATCH: Rubio delivers keynote address at Federalist Society National Lawyers Convention
Rubio gave a sweeping speech to fellow conservatives on Friday evening acknowledging that Americans are struggling in the current economy, while also railing against what he called the “weaponization” of international law to constrain the U.S. from acting in its own interests.
Rubio urges conservatives to uplift their ideology, brushes off Republicans’ midterm losses
The secretary of state also condemned “activist courts” in the U.S. and the “weaponization of international law” against the Trump administration.
Rubio says more work to do and downplays election losses amid speculation about political future
Amid speculation about his political future, Secretary of State Marco Rubio declared that there is more work to be done as he downplayed Republicans’ losses in the midterm elections.
Intel intercepts implicating Jensen Huang’s affair sparked classified Rubio memo
The US intelligence community intercepted communications in the spring indicating that an executive of Megaspeed, a company under investigation for possibly diverting sensitive technology to China, was having an affair with a US person.
Rubio urges nations to \'step up\' on Strait of Hormuz security
U.S. Secretary of State Marco Rubio is urging nations to help protect shipping from Iranian attacks in the Strait of Hormuz. He acknowledges making no progress on the issue with
G7 attention in Paris turns to Ukraine while US-mediated talks get underway in Abu Dhabi
U.S. Secretary of State Marco Rubio and his counterparts from the Group of 7 developed democracies are turning their attention toward Ukraine and how to support it in its struggle to defend itself from Russia.
Rubio will discuss Iran, Ukraine, AI and more with G7 allies in France
Secretary of State Marco Rubio will meet his counterparts from the Group of 7 industrialized democracies this week.
Rubio will discuss Iran, Ukraine, AI and more with G7 allies in France
Secretary of State Marco Rubio will meet his counterparts from the Group of 7 industrialized democracies this week.
Rubio will discuss Iran, Ukraine, AI and more with G7 allies in France
Secretary of State Marco Rubio will meet his counterparts from the Group of 7 industrialized democracies this week.
Rubio Will Discuss Iran, Ukraine, AI and More With G7 Allies in France
PARIS (AP) — U.S. Secretary of State Marco Rubio will meet his counterparts from the Group of 7 industrialized democracies on Monday, with unresolved world crises on the agenda and questions about how President Donald Trump will approach foreign policy after his Republican Party’s massive losses in ...
Rubio says Trump's war against Iran not 'necessarily popular' but needed to stop a nuclear threat
Secretary of State Marco Rubio says President Donald Trump launched the war against Iran even if it wasn’t “necessarily popular” to safeguard the world from the country’s nuclear ambitions
Rubio says Trump's war against Iran not 'necessarily popular' but needed to stop a nuclear threat
Secretary of State Marco Rubio says President Donald Trump launched the war against Iran even if it wasn't “necessarily popular” to safeguard the world from the country’s nuclear ambitions.
Rubio says Trump's war against Iran not 'necessarily popular' but needed to stop a nuclear threat
Secretary of State Marco Rubio says President Donald Trump launched the war against Iran even if it wasn't “necessarily popular” to safeguard the world from the country’s nuclear ambitions.
Political cartoons for November 8
Sunday's political cartoons include checks and balances, a Rubio run, and more
Want to fly to the moon? NASA looking for new astronauts
Patience is essential for becoming an astronaut, noted Artemis III's Frank Rubio, whose 371 consecutive days in space is a U.S. endurance record
White House denies Hegseth, Rubio will leave jobs amid Republican election fallout
The Trump administration has downplayed reports the pair could be on their way out after heavy Republicans election losses.
Rubio urges Venezuela to release remaining political prisoners
The US secretary of state also discusses laying the groundwork for 'free, fair, and credible elections'.
The politics of civilizational confrontation: Rubio's Athens speech
By the editors of 'Iran in Transition’ Editor’s note
Yakima Co. health officials confirm person infected with bird flu has died
YAKIMA CO., Wash. - The Yakima County Health District confirmed Sunday a person in the county has died due to complications of the bird flu.According to the YCHD, the person was hospitalized after becoming severely sick and was diagnosed with avian influenza. They said the person came into contact with infected cattle and that's how they got the illness.At this time, the YCHD is not releasing the identity of the person who died, their gender or their age. They confirmed the person did have underlying health conditions, but did not release what those were.This comes as a third confirmed human case of bird flu was reported Sunday. This person also became infected after being exposed to sick cattle at a Yakima County dairy. YCHD officials said this person is not experience severe illness and is not hospitalized.The YCHD is working with the person to identify and contact people who may have come into contact with those who are infected in an effort to monitor the illness.Officials with the YCHD said the risk of being infected with bird flu in the general public is low. Those who are at greater risk are those who have close or prolonged contact with infected animals or are in an environment that is contaminated with the virus. As of this writing, no documented case of human to human transmission has ever been recorded in the United States but it is not impossible. COPYRIGHT 2026 BY APPLE VALLEY NEWS NOW. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED. News Suspected DUI crash in Walla Walla Co. kills Umatilla woman Erin Wencl News Man dead after early morning shooting in Yakima Erin Wencl News Pasco police asking for video of Saturday's fatal shooting near Don Rubio's Erin Wencl News Trick-or-treating wins popular vote at Yakama Nation trunk-or-treat Tyler Wargo News Justin Krumbah's family fights on after judge denies Kelly's request Dan Hanson, Apple Valley News Now News Toppenish gets nearly $1.5 million to improve traffic safety on State Route 22 Robert Desaulniers
‘You’re fired’: Trump tosses joke at Marco Rubio
President Donald Trump took to the stage and made jokes in Kansas for his 30th rally to help boost support for Sen. Roger Marshall.
G20 foreign ministers in Atlanta meeting head to an ending without consensus on key issues
The group will not release a joint communique but will rather rely on a chairman’s statement summarizing the talks, which Secretary of State Marco Rubio will release at the conclusion.
“Wicker”, “The” “Gilded Age ”season 4, and Niko Rubio’s debut album top this week’s Must List
Fake Names’ “Punk Ruins” and “The Imaginary Invalid” round out our picks for the weekend of Oct. 30.
WATCH: Rubio welcomes G20 foreign ministers to Atlanta at 'critical moment'
Secretary of State Marco Rubio pulled the plug on the traditional group photo after several European officials threatened to boycott or walk out of the snapshot that usually helps kick off such diplomatic gatherings.
Trump and Rubio plan to visit oil tanker carrying Venezuelan crude in Texas
The visit to Port Arthur, Texas, comes on the same day that Trump is campaigning in the state for Republican candidates in the midterms.
Trump and Rubio plan to visit oil tanker carrying Venezuelan crude in Texas
WASHINGTON (AP) — President Donald Trump and Secretary of State Marco Rubio on Tuesday plan to show off a newly arrived oil tanker filled with Venezuelan crude
US told Venezuelan authorities that opposition leader Machado should be allowed to return
WASHINGTON (AP) — Secretary of State Marco Rubio said Monday that the Trump administration told Venezuela’s interim authorities “weeks and weeks ago” that oppos
Marco Rubio’s Greek Panegyric / Celebration: Political Theory and Praxis
Prologue Translating the ideals of Greek history, politics, democracy, theater, athletics, the Delphi peace vision, philosophy, science, technology,
U.S. is reducing staffing at 4 Middle East embassies over increased threats from Iran
In a memo sent Friday to Secretary of State Marco Rubio, Director of National Intelligence Jay Clayton said his teams “have received intelligence that Iran has substantially increased efforts to target U.S. personnel.”
Rubio tells Cubans ‘now is the time’ to act to see political change
US secretary of state makes comments after Trump tells US rally warships could intervene on return from Iran
Rubio urges Cubans to work with CIA to bring political change to communist-run island
Secretary of State Marco Rubio urged Cubans to form a "discrete partnership with the CIA" as Trump floated sending him to Cuba to cut a deal.
Under U.S. Watch, Venezuela Grapples With Tensions Over Democracy
President Trump says Venezuela is not ready for elections, and he focuses instead on its oil. But Secretary of State Marco Rubio is nudging talks between opposing politicians.
Rubio's India Trip Focuses on Business
The top U.S. diplomat’s three-day trip is focused largely on commercial interests.
Marco Rubio and President Mirziyoyev Highlight U.S.–Uzbekistan Economic Cooperation at Business and Investment Council
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Uzbekistan's $12bn business drive gathers pace during Rubio visit
The package covers railways, critical minerals, finance and technology, with major US firms involved. Uzbek President Mirziyoyev outlined measures to attract investors, while business executives told Euronews that commercial activity is growing.
Rubio heads to Central Asia as some wonder if he's keeping the most pressing matters at a distance
This tour is intended to promote U.S. economic and security ties with Central and South Asia. But it has only tangential links to the Trump administration’s current main foreign policy dilemmas in the Middle East and with the Russia-Ukraine war.
Rubio heads to Central Asia as some wonder if he\'s keeping the most pressing matters at a distance
Secretary of State Marco Rubio has left Washington on his 31st trip abroad as America’s top diplomat, heading to Uzbekistan and India amid rumblings that he’s ignoring pressing matters in
Rubio heads to Central Asia as some wonder if he's keeping the most pressing matters at a distance
Secretary of State Marco Rubio has left Washington on his 31st trip abroad as America’s top diplomat, heading to Uzbekistan and India amid rumblings that he’s ignoring pressing matters in favor of more politically safe visits and meetings.
After Guilfoyle dismissal, Rubio reminds diplomats to ‘avoid conflicts of interest’
The former U.S. ambassador to Greece was accused of a variety of ethical violations, including asking a political donor for $100,000 to pay her personal American Express bill.
Cam Heyward singles out Gabe Rubio after key Steelers performance
Pittsburgh Steelers captain Cameron Heyward praised rookie defensive lineman Gabe Rubio for stepping up during a thin rotation against Indianapolis.
AP source: Trump, Rubio weigh firing U.S. envoy to Greece over conduct reports
In a series of stories, The Wall Street Journal has reported questionable conduct by Guilfoyle, including accepting improper gifts and services
AP source: Trump, Rubio weigh firing US envoy to Greece after mounting reports of improper conduct
President Donald Trump and Secretary of State Marco Rubio are considering firing U.S. Ambassador to Greece Kimberly Guilfoyle after a series of reports alleging she has engaged in improper and
Trump and Rubio weigh firing Kimberly Guilfoyle as misconduct and donor bailout allegations mount
Kimberly Guilfoyle faces mounting allegations in Greece as JD Vance and Marco Rubio weigh in on the embattled ambassador's growing controversies.
Rubio pledges US cooperation in Marine-linked murder case
A US Marine stationed on Okinawa has been arrested on suspicion of killing a 39-year-old woman.
What Rubio and Guilfoyle’s headlines from Greece reveal about the Trump era
Two prominent members of the Trump administration were in Greece this week and each made major news — but for very different reasons. What do Secretary of State Marco Rubio and U.S. Ambassador to G…
Vance, Rubio brush off questions about claim that Guilfoyle asked donor to pay $100K Amex bill
Allegations by former congressional candidate Eric Deters are the latest controversy to swirl around the U.S. ambassador to Greece.
Exclusive: House Democrats ask Kimberly Guilfoyle for records related to alleged pay-to-pay scheme
Democrats from the House Oversight Committee on Thursday asked U.S. Ambassador to Greece Kimberly Guilfoyle for financial records and communications with Trump administration officials after allegations that she engaged in a pay-for-play scheme.
Rubio praises nationalism and ties ‘America First’ values to ancient Greece
Rubio refuses to comment on Guilfoyle allegations
A new report alleges that the U.S. ambassador to Greece engaged in improper and possibly illegal conduct before taking up her post
Rubio refuses to comment on Guilfoyle allegations
A new report alleges that the U.S. ambassador to Greece engaged in improper and possibly illegal conduct before taking up her post
Widely Questioned Draft Pick Ready to Prove Worth for Steelers
PITTSBURGH — Gabriel Rubio hasn’t yet suited up for a regular-season game with the Pittsburgh Steelers. That could soon change […]
Rubio refuses to comment on Guilfoyle allegations
U.S. Secretary of State Marco Rubio has flatly refused to comment on a new report alleging that U.S. Ambassador to Greece Kimberly Guilfoyle engaged in improper and possibly illegal conduct before taking up her post.
Rubio refuses to comment on Guilfoyle allegations
U.S. Secretary of State Marco Rubio has flatly refused to comment on a new report alleging that U.S. Ambassador to Greece Kimberly Guilfoyle engaged in improper and possibly illegal conduct
Rubio’s big speech in Greece will supercharge speculation on presidential bid
In the golden light of an Athens evening, with the Acropolis over his shoulder, Marco Rubio hardly looked like a man planning to ride off into a political sunset.
Rubio Stresses Need for U.S. Security Work With Greece on Migration and Terrorism
Secretary of State Marco Rubio praised Greece for spending more on defense, while saying it needs to address “mass migration.”
Rubio to deliver urgent plea to save Western civilization during speech in its birthplace
Marco Rubio will deliver a major address near the Acropolis calling on Americans and Europeans to reject decline and renew Western civilization.
Health experts in touch with Russia since last Friday: US official
Fox News senior foreign policy correspondent Gillian Turner reports on Secretary of State Marco Rubio pressing Russia for information about a suspected plague death and the U.S. response on ‘Special Report.’
In Iceland, Rubio Dodges a Diplomatic Flap Over a Trump Map
President Trump had posted a map on his Truth Social account in September depicting Iceland as part of U.S. territory.
Rubio begins three-nation NATO tour in Iceland, which is wary of Trump’s Arctic intentions
U.S. Secretary of State Marco Rubio has begun a three-nation tour of NATO allies with a stop in Iceland.
Iceland to broach defense cooperation as Rubio visits next week
Iceland plans to discuss closer cooperation with the U.S., including on defense, as Secretary of State Marco Rubio arrives for a visit next week. That’s after the U.S. struck a
Ex-US congressman David Rivera sentenced to 10 years in prison for Venezuela lobbying
River's ex-housemate, Secretary of State Marco Rubio, testified he had no idea about his activities.
Dems demanding Venezuela brief face State Dept fury as senators leave town without answers
Senate Democrats challenge the legality of a Pentagon equity stake in Venezuelan oil company NABEP, but the State Department fires back sharply.
Rubio orders visiting Iranian UN delegation to leave NYC ahead of schedule
WASHINGTON (AP) — Secretary of State Marco Rubio ordered Iran’s foreign minister and his delegation to the U.N. General Assembly to leave New York earlier than
State Department to launch online-only first passport applications in December
First-time applications can be submitted through America.gov
The Beclowning of Scott Bessent
One iron law of current politics is that nobody who associates themselves with Donald Trump emerges with a shred of credibility. For some, that’s not a big loss — it’s not as if anyone respected Pete Hegseth even before he decided that the key to military success in an age of drones and AI was more testosterone. For others, however, the costs are real. I’m old enough to remember when Marco Rubio was widely considered a reasonable, thoughtful politician. Right now, however, my candidate for the biggest loser is Scott Bessent, the Secretary of the Treasury. Bessent started out with significant reputation to lose: When Trump selected him, this was the headline in the Financial Times: Jason Furman, Barack Obama’s chief economist, described him as a “credible Treasury secretary who has a real understanding of the global economy”. But Bessent has now transformed himself into the Baghdad Bob of bonds. Three weeks ago, after intervening (for reasons that remain somewhat unclear) to support the Japanese yen, Bessent boasted about his ability to move markets and dared investors to bet against his, declaring “I am the house now.” He then tried to push long-term interest rates down, buying 30-year U.S. Treasuries in a move some have compared to paying down part of your mortgage by running up your credit card balance. Here’s how that’s going so far: To get some perspective on how high interest rates have gone, here’s a longer-term perspective: We haven’t seen interest rates this high since the fading days of the dotcom bubble. Why are interest rates hitting new records? The backdrop, as I argued in last Sunday’s primer, is the huge AI-driven investment boom; more on that next week. But the immediate cause of the latest interest rate spike was Trump’s rejection of an Iranian proposal to end the war. This rejection sent crude oil prices, which for a while had fallen considerably, shooting back up: It’s notable, by the way, that oil prices remain high even though a significant amount of oil is now being shuttled through the Strait of Hormuz by night, on smaller vessels. That’s an interesting story, which has a lot to do with the fact that oil from the Hormuz shuttle runs must be transferred to larger vessels before being shipped to markets in Europe and Asia; around 15 percent of the world’s large crude carriers are now parked off the coast of Oman, waiting to be tanked up. This is creating a shipping crunch: But that’s a topic for another day. For now, the point is that with oil still high and refined products, especially diesel, still close to record levels, inflation will remain elevated. And this in turn means that the Federal Reserve will keep short-term interest rates high, an expectation that is feeding into longer-term rates. Hence Bessent’s bond-market humiliation. The truth is that Bessent might not have been able to get interest rates down even in the best of circumstances. But he certainly won’t get anywhere as long as Trump keeps believing that he can somehow convert his Iran debacle into a triumphant victory. And Trump will keep believing that as long as he is surrounded by sycophants who tell him what he wants to hear. Sycophants like, for example, Scott Bessent, who is predicting the imminent collapse of the Iranian economy, possibly within two weeks. Bessent is right to say that the embargo on Iranian oil exports is placing the country under great economic strain. But his implicit prediction that this will quickly produce a deal that Trump can call victory looks no more plausible than his boasts about the bond market. The big question now is, why would anyone with a reputation to lose work for Donald Trump? As the beclowning of Bessent shows, joining the Trump team won’t just damage your reputation; it will utterly destroy it.
Donald Trump Wants a Vance-Rubio Ticket in 2028, Says Ari Emanuel
Emanuel also believes David Ellison’s doing right by an independent press.
Rubio’s meme-worthy job collection takes new turn with permanent Trump upgrade
Trump signed a commission making Secretary of State Marco Rubio his permanent national security adviser, a dual role unseen since the 1970s.
Marco Rubio defends Trump’s ban on media outlets from White House, arguing police or soldiers are not ‘kicking down the doors’
“They’re just not allowed to work from the workspace at the White House,” the secretary of state said in an interview on “TODAY,” referring to CNN, Politico and MS NOW.
Rubio rings opening bell at New York Stock Exchange to begin UN General Assembly
Secretary of State Marco Rubio began the United Nations General Assembly, a major week in diplomacy, by ringing the opening bell at the New York Stock Exchange on Monday. The ceremony serves as a time marker, signaling the start and closing of an official session. The bells were first used at the exchange in the […]
Trump administration hits South Africa with new sanctions over alleged discrimination against whites
CAPE TOWN, South Africa (AP) — The Trump administration has announced that it will impose travel bans on officials it claims are responsible for discrimination against whites and other minority groups in South Africa. U.S. Secretary of State Marco Rubio said Tuesday he would revoke U.S. visas or reject visa applications from foreign nationals found […]
Rubio announces new visa restrictions targeting South African officials for ‘race-based discrimination’
US Secretary of State Marco Rubio announced a new policy to restrict visas from South African officials alleged to be involved in “race-based discrimination” and “uncompensated land seizures.”
U.S. cuts military aid to Europe, Mideast to support Trump allies in Americas
The State Department on Tuesday notified Congress that it will reprogram $52 million in foreign military financing
Colombia to Start Aerial Spraying of Coca Crops Despite Health Worries
The plan — quickly challenged by a local court — came days after Colombia’s president and the U.S. secretary of state, Marco Rubio, discussed stronger measures against drug trafficking.
Vance? Rubio? DeSantis? Cruz? Republicans at Dallas convention ponder options for post-Trump leader
The vice president's speech solidified his status as a potential frontrunner, and President Donald Trump talked him up afterwards as a “very talented guy” who “did a very good job."
Trump administration offers rare muted response on new sanctions against Israel
(CNN) — President Donald Trump and his top foreign policy aide, Secretary of State Marco Rubio, have not condemned the United Kingdom, France, Canada and others for their planned sanctions
Rubio visits Ecuador as Trump-friendly leader helps the US counterdrug push in the region
U.S. Secretary of State Marco Rubio visits Ecuador on the second leg of a three-nation tour of South America aimed at boosting security cooperation with conservative leaders.
Fired DeSantis campaign staffer Nate Hochman lands senior State Department role under Marco Rubio
Former DeSantis staffer rebounds into senior Rubio State Department role.
Rubio urges partners to stop 'business as usual' with Nicaraguan government
The U.S. urges international partners to immediately stop "business as usual" operations with Nicaragua's government, Secretary of State Marco Rubio said in a statement on Wednesday, adding that Washington remains committed to addressing violations of human rights by the government.
Rubio Urges Partners to Stop 'Business as Usual' With Nicaraguan Government
WASHINGTON, Sept 2 (Reuters) - The U.S. urges international partners to immediately stop "business as usual" operations with Nicaragua's government, Secretary of State Marco Rubio said in a statement on Wednesday, adding that Washington remains committed to addressing violations of ...
Trump admin pauses visa appointments worldwide amid heightened screening for applicants
The State Department paused all visa interviews at embassies and consulates worldwide as officers undergo training on new public charge guidance.
Officials: U.S. set to revoke visas for 200,000 foreigners
The move would be the largest single mass revocation of visas in U.S. history and would likely face legal challenges
Federal judge vacates Trump policy that suspended processing of immigration visas from 75 countries
The judge ruled that Secretary of State Marco Rubio exceeded his authority by issuing the policy, which “runs afoul” of the Immigration and Nationality Act by mandating "the refusal of visas to eligible applicants without any basis in law.”
Trump’s 75-country immigrant visa ban struck down by judge
The Trump administration’s ban on visas for immigrants from 75 countries was struck down by a federal judge on Friday, who ruled it was “contrary to law” and outside the statutory authority of Secretary of State Marco Rubio.
Rubio designates US citizen held in China as wrongfully detained as Trump prepares to host Xi at White House
The Trump administration designated Min Zin as wrongfully detained in China weeks before President Donald Trump is set to host Xi Jinping at the White House.
RNC warns Democrats face 'political suicide' after DSA praises Fidel Castro, demands Rubio's prosecution
The Democratic Socialists of America praised late Cuban Fidel Castro as an anti-imperialist symbol and demanded Secretary of State Marco Rubio's prosecution for crimes against humanity.
Democratic socialist Angie Nixon won the Senate primary in Florida. Can she win in November?
Nixon's upset sets up a long-shot challenge to U.S. Sen. Ashley Moody, a former state attorney general who Gov. Ron DeSantis selected to fill the seat after it was vacated by Marco Rubio, who Trump chose as secretary of state.
Senators Criticize Trump Administration’s Demands to Access Health Data as a Condition for Lifesaving Aid
Citing ProPublica’s reporting, eight senators wrote a letter to Secretary of State Marco Rubio questioning the administration’s approach to foreign health data. They said it could set an “alarming precedent.”
Live Results: Florida midterm primaries
Florida voters will select nominees Tuesday to replace term-limited Republican Gov. Ron DeSantis and to complete the remainder of Secretary of State Marco Rubio’s unexpired U.S. Senate term.
AP Decision Notes: What to expect in Florida’s state primary
Florida voters will select nominees Tuesday to replace term-limited Republican Gov. Ron DeSantis and to complete the remainder of Secretary of State Marco Rubio’s unexpired U.S. Senate term
AP Decision Notes: What to expect in Florida’s state primary
Florida voters will select nominees Tuesday to replace term-limited Republican Gov. Ron DeSantis and to complete the remainder of Secretary of State Marco Rubio’s unexpired U.S. Senate term.
Son of former Mexican president says US revoked his visa
Andres Manuel Lopez Beltran, a son of former Mexican President Andres Manuel Lopez Obrador, accuses Secretary of State Marco Rubio and Deputy Secretary Christopher Landau of ordering what he called a politically motivated decision.
Rubio and Bessent stayed on decoy flight as Trump switched planes, official says
Trump was secretly moved to a smaller military jet due to a threat
State Dept axes Biden-era DEI scheme pushing woke politics across the globe and more top headlines
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Joint Statement by Secretary of Health and Human Services Robert F. Kennedy, Jr. and Secretary of State Marco Rubio: United States to Serve as Secretariat of the Geneva Consensus Declaration
Joint statement from HHS Secretary Kennedy and Secretary of State Rubio on the Geneva Consensus Declaration.
Trump told donors 'we need to elect JD,' source confirms, as he weighs Vance or Rubio in 2028
President Donald Trump told Republican donors "we need to elect JD" in a private Oval Office meeting, a source confirmed to Fox News Digital.
Trump tells donors, ‘We need to elect JD,’ as vice president weighs his future
Advisers say the remark doesn’t mean the president has settled on a preferred candidate in 2028 as he plays up a contest between JD Vance and Marco Rubio.
Miliband says reopening Strait of Hormuz 'essential' as he meets Rubio
The move is required "to ease cost-of-living pressures", Miliband says, as he meets his US counterpart in Washington.