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      Trump’s Tax Cut Fueled Investment but Did Not Pay for Itself, Study Finds

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      The most detailed research yet on corporate response to the 2017 Republican tax law shows modest gains for workers and high cost to the federal debt.The corporate tax cuts that President Donald J. Trump signed into law in 2017 have boosted investment in the U.S. economy and delivered a modest pay bump for workers, according to the most rigorous and detailed study yet of the law’s effects.Those benefits are less than Republicans promised, though, and they have come at a high cost to the federal budget. The corporate tax cuts came nowhere close to paying for themselves, as conservatives insisted they would. Instead, they are adding more than $100 billion a year to America’s $34 trillion-and-growing national debt, according to the quartet of researchers from Princeton University, the University of Chicago, Harvard University and the Treasury Department.The researchers found the cuts delivered wage gains that were “an order of magnitude below” what Trump officials predicted: about $750 per worker per year on average over the long run, compared to promises of $4,000 to $9,000 per worker.The study is the first to use vast data from corporate tax filings to draw conclusions about the Tax Cuts and Jobs Act, which passed with only Republican support. Its findings could help shape debate on renewing parts of the law that are set to expire or have begun to phase out.That includes a key provision targeting investment, which the authors identify as the most cost-effective corporate cut. That benefit, which allowed companies to immediately deduct investment spending from their income taxes, would be renewed as part of a bipartisan tax bill that passed the House in January.It also challenges narratives about the bill on both sides of the aisle. Democrats have claimed the tax cuts only rewarded shareholders and did not help the economy. Republicans have called them a cost-free boon to the middle class. Both appear to have been wrong.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Oregon Is Recriminalizing Drugs, Dealing Setback to Reform Movement

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      Oregon removed criminal penalties for possessing street drugs in 2020. But amid soaring overdose deaths, state lawmakers have voted to bring back some restrictions.Three years ago, when Oregon voters approved a pioneering plan to decriminalize hard drugs, advocates looking to halt the jailing of drug users believed they were on the edge of a revolution that would soon sweep across the country.But even as the state’s landmark law took effect in 2021, the scourge of fentanyl was taking hold. Overdoses soared as the state stumbled in its efforts to fund enhanced treatment programs. And while many other downtowns emerged from the dark days of the pandemic, Portland continued to struggle, with scenes of drugs and despair.Lately, even some of the liberal politicians who had embraced a new approach to drugs have supported an end to the experiment. On Friday, a bill that will reimpose criminal penalties for possession of some drugs won final passage in the State Legislature and was headed next to Gov. Tina Kotek, who has expressed alarm about open drug use and helped broker a plan to ban such activity.“It’s clear that we must do something to try and adjust what’s going on out in our communities,” State Senator Chris Gorsek, a Democrat who had supported decriminalization, said in an interview. Soon after, senators took the floor, with some sharing stories of how addictions and overdoses had impacted their own loved ones. They passed the measure by a 21-8 margin. The abrupt rollback is a devastating turn for decriminalization proponents who say the large number of overdose deaths stems from a confluence of factors and failures largely unrelated to the law. They have warned against returning to a “war on drugs” strategy and have urged the Legislature to instead invest in affordable housing and drug treatment options.The Joint Interim Committee on Addiction and Community Safety Response discussing the effects of and changes to Measure 110 at the Oregon State Capitol in Salem last month.Jordan Gale for The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Economic Dividend of Immigration Faces Legal and Logistical Hurdles

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      Immigrants aided the pandemic recovery and may be crucial to future needs. The challenge is processing newcomers and getting them where the jobs are.The U.S. economic recovery from the pandemic has been stronger and more durable than many experts had expected, and a rebound in immigration is a big reason.A resumption in visa processing in 2021 and 2022 jump-started employment, allowing foreign-born workers to fill some holes in the labor force that persisted across industries and locations after the pandemic shutdowns. Immigrants also address a longer-term need: replenishing the work force, a key to meeting labor demands as birthrates decline and older people retire.Net migration in the year that ended July 1, 2023, reached the highest level since 2017. The foreign-born now make up 18.6 percent of the labor force, and the nonpartisan Congressional Budget Office projects that over the next 10 years, immigration will keep the number of working Americans from sinking. Balancing job seekers and opportunities is also critical to moderating wage inflation and keeping prices in check.International instability, economic crises, war and natural disasters have brought a new surge of arrivals who could help close the still-elevated gap between labor demand and job candidates. But that potential economic dividend must contend with the incendiary politics, logistical hurdles and administrative backlogs that the surge has created.Visits to Texas on Thursday by President Biden and his likely election opponent, former President Donald J. Trump, highlight the political tensions. Mr. Biden is seeking to address a border situation that he recently called “chaos,” and Mr. Trump has vowed to shut the door after record numbers crossed the border under the Biden administration.Since the start of the 2022 fiscal year, about 116,000 have arrived as refugees, a status that comes with a federally funded resettlement network and immediate work eligibility. A few hundred thousand others who have arrived from Ukraine and Afghanistan are entitled to similar benefits.The foreign-born labor force has rebounded stronglyThe number of workers in the United States as a share of how many there were in February 2020, by worker origin

      Source: Bureau of Labor StatisticsBy The New York TimesImmigrants are more likely to be workingThe labor force participation rate for foreign-born U.S. residents rebounded faster than it did for those born in the United States

      Source: Bureau of Labor StatisticsBy The New York TimesWork permits are finally flowing for humanitarian migrantsThe number of employment authorization documents granted to immigrants seeking protection in the United States

      Note: Data includes permits granted to refugees, public interest parolees, as well as those with a pending asylum application, Temporary Protected Status and people who have been granted asylum.Source: U.S. Citizenship and Immigration ServicesBy The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Hochul Pushes Proposals Cracking Down on Unlicensed Cannabis Shops

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      Legal retailers are struggling to get their footing in the face of a much larger illicit market.Gov. Kathy Hochul visited New York City on Wednesday to drum up support for her latest proposals for shutting down the unlicensed marijuana shops that have exploded in number in the wake of the legalization of recreational cannabis.There are more than 400 illicit weed shops in Manhattan alone — outnumbering Starbucks stores in the borough and far surpassing the few dozen licensed cannabis retailers in the entire state.At a news conference at the governor’s office in Midtown Manhattan attended by several owners of licensed dispensaries, Ms. Hochul sought to allay concerns about a return to the heavy-handed enforcement tactics of the war on drugs while pushing for measures that she said would give “some teeth” to the so far ineffective efforts to wipe out the unlicensed shops.Her appearance came as state lawmakers were considering her proposal to strengthen the hand of local agencies by giving them the power to padlock stores. She was joined by licensed dispensary owners who said that the legal market could not compete with the cut-rate prices in illicit shops. The governor and business owners also called on search engines and social media companies like Google and Yelp to remove content about unlicensed shops, which they said added to the confusion among consumers about what weed shops were licensed and which were not.The governor said that the illicit shops posed a public health hazard and undermined the state’s effort to build a cannabis industry that could provide opportunities for people harmed by the war on drugs. She said that efforts to deter the stores with raids and fines over the last year had been concentrated in the hands of too few agencies and had not been effective. Her proposal would make it easier for the state’s Office of Cannabis Management to obtain court orders to padlock stores and would allow for the orders to be executed by local agencies that had more personnel.“More and more cash keeps going in their doors and not the doors of our legitimate operators — and that’s what needs to change,” she said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Appeals Court Allows Indiana Ban on Transition Care for Minors to Take Effect

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      A lower court had mostly blocked enforcement of a state law that banned gender-transition care for minors, but a federal appellate court lifted that injunction on Tuesday.Indiana’s ban on hormone treatments and puberty blockers for transgender minors can go into effect, a federal appeals court ruled on Tuesday, undoing a lower court decision last year that had largely blocked the law.The three-paragraph ruling by a panel of judges from the U.S. Court of Appeals for the Seventh Circuit, based in Chicago, said it was staying a preliminary injunction that the district court had issued in June, just before the law was scheduled to take effect last summer.The appellate judges did not explain their reasoning but simply said that a full opinion on the case would be issued in the future.The decision further unsettles the national legal landscape around transgender care for minors, with bans blocked in some states but not others, and it could lead to abrupt changes in treatment for young people in Indiana.“This ruling is beyond disappointing and a heartbreaking development for thousands of transgender youth, their doctors and their families,” the American Civil Liberties Union and the A.C.L.U. of Indiana, which brought the lawsuit challenging the ban, said in a statement. “As we and our clients consider our next steps, we want all the transgender youth of Indiana to know this fight is far from over,” the statement added.The Indiana attorney general, Todd Rokita, whose office defended the law in court, said on social media that “we are proud to win this fight.”“Our common-sense state law, banning dangerous and irreversible gender-transition procedures for minors, is now enforceable,” said Mr. Rokita, a Republican. Republican-led states have raced to ban gender-transition care for minors in recent years, leading to a series of lawsuits in federal and state courts that so far have had mixed results. Many legal experts on both sides of the issue expect the legality of the bans to ultimately be decided by the U.S. Supreme Court.The Indiana ban passed the Republican-controlled legislature last spring by large margins and was signed into law by Gov. Eric Holcomb, a Republican. Supporters of the law claimed they were seeking to protect young people from making life-altering decisions that they might later regret.Families of transgender children sued to block the law, saying that it would put transgender youths at immediate risk of unwanted changes to their bodies, which would have lifelong consequences.A federal district judge, James Patrick Hanlon, who was appointed by President Donald J. Trump, temporarily blocked portions of the law banning hormone treatments and puberty blockers for minors while the lawsuit proceeded. He allowed a ban on gender-transition surgeries for minors to take effect as scheduled.But after hearing arguments this month, a three-judge panel from the Seventh Circuit, made up of two judges appointed by Republican presidents and one appointed by a Democratic president, lifted Judge Hanlon’s injunction. More

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      Supreme Court to Decide How the First Amendment Applies to Social Media

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      Challenges to laws in Florida and Texas meant to protect conservative viewpoints are likely to yield a major constitutional ruling on tech platforms’ free speech rights.The most important First Amendment cases of the internet era, to be heard by the Supreme Court on Monday, may turn on a single question: Do platforms like Facebook, YouTube, TikTok and X most closely resemble newspapers or shopping centers or phone companies?The two cases arrive at the court garbed in politics, as they concern laws in Florida and Texas aimed at protecting conservative speech by forbidding leading social media sites from removing posts based on the views they express.But the outsize question the cases present transcends ideology. It is whether tech platforms have free speech rights to make editorial judgments. Picking the apt analogy from the court’s precedents could decide the matter, but none of the available ones is a perfect fit.If the platforms are like newspapers, they may publish what they want without government interference. If they are like private shopping centers open to the public, they may be required to let visitors say what they like. And if they are like phone companies, they must transmit everyone’s speech.“It is not at all obvious how our existing precedents, which predate the age of the internet, should apply to large social media companies,” Justice Samuel A. Alito Jr. wrote in a 2022 dissent when one of the cases briefly reached the Supreme Court.Supporters of the state laws say they foster free speech, giving the public access to all points of view. Opponents say the laws trample on the platforms’ own First Amendment rights and would turn them into cesspools of filth, hate and lies. One contrarian brief, from liberal professors, urged the justices to uphold the key provision of the Texas law despite the harm they said it would cause.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      German Lawmakers Move Closer to Legalizing Marijuana

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      The measure still requires approval from the Council of States, but the vote brings the country closer to becoming the largest nation in Europe to legalize the drug for recreational use.Lawmakers in Germany approved legalization of cannabis on Friday, bringing the country a step closer to becoming one of the few European nations — and by far the largest — to fully legalize limited amounts of the drug for recreational use.“By legalizing it, we are taking cannabis out of the taboo zone,” said Karl Lauterbach, who as health minister is largely responsible for the law, on public television before the vote, which ended up being 407 votes for and 226 against.The proposal must be approved by the Federal Council next month.Several other European countries, perhaps most notably the Netherlands, tolerate the use of cannabis, but legalization is rare: With in the European Union, Only Malta and Luxembourg have gone that far.If the law passes the Federal Council and is signed by the president, it will be rolled out in two steps. Starting in April, all adults will be allowed to carry up to 25 grams, own up to 50 grams, and grow up to three adult plants for private consumption. Then, in July, adults in Germany will be permitted to form social clubs that can produce cannabis plants for their members.Critics have objected to the new law on the grounds that it could normalize the drug and make it easier for minors to obtain it. To try to prevent this, the measure limits carrying and use of the drug to people over 18 years old and bans consumption of the drug close to schools or other places where young people gather.States have warned that the legalization would cause an extra burden for the traffic police, who expect to see an increase in the number of people driving under the influence of the drug on German roads. More

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      Biden Considering Executive Order That Could Restrict Asylum at the Border

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      The action under consideration could prevent people from making asylum claims during border crossing surges. The White House says it is far from a decision on the matter.President Biden is considering executive action that could prevent people who cross illegally into the United States from claiming asylum, several people with knowledge of the proposal said Wednesday. The move would suspend longtime guarantees that give anyone who steps onto U.S. soil the right to ask for safe haven.The order would put into effect a key policy in a bipartisan bill that Republicans thwarted earlier this month, even though it had some of the most significant border security restrictions Congress has contemplated in years.The bill would have essentially shut down the border to new entrants if more than an average of 5,000 migrants per day tried to cross unlawfully in the course of a week, or more than 8,500 tried to cross in a given day.The action under consideration by the White House would have a similar trigger for blocking asylum to new entrants, the people with knowledge of the proposal say. They spoke on the condition of anonymity to discuss internal deliberations.The move, if enacted, would echo a 2018 effort by President Donald J. Trump to block migration, which was assailed by Democrats and blocked by federal courts.Although such an action would undoubtedly face legal challenges, the fact that Mr. Biden is considering it shows just how far he has shifted on immigration since he came into office, promising a more humane system after the Trump years.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More