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Charles Rangel, a voice for the poor in tax debates, dies at 94

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Charles Rangel, the dapper, voluble U.S. congressman from New York’s Harlem district who for four decades used his perch on the House tax-writing committee to advocate for inner cities and the people who live there, has died. He was 94.

The former congressman died on Monday, according to a statement from the City College of New York, where he had served as statesman-in-residence. No cause of death was given. 

From 1974, when he became the first Black member of the House Ways and Means Committee, Rangel championed tax legislation to foster low-income housing and urban development, encourage trade with Caribbean nations and discourage U.S. business with South Africa’s apartheid government. He said the poor, the elderly and the infirm deserved and needed his protection.

“I don’t believe there’s any compassion in capitalism at all,” he said in 2013. “I believe it’s survival of the fittest.”

In 2007, he achieved his goal of becoming Ways and Means chairman. However, after just three years in the powerful post, he was pressured to step down during an investigation by the House ethics committee.

The panel found him guilty of 11 counts of violating House rules, including using his office to solicit donations for an academic center named after him at City College of New York and — particularly embarrassing for a member of the tax-writing committee — failing to pay taxes on rental income from his villa in the Dominican Republic. On Dec. 2, 2010, he became the first lawmaker censured by the House in 27 years.

Admitted mistakes

Rangel admitted making mistakes but insisted he had never sought to enrich himself.

“I’m not going to be judged by this Congress,” he told lawmakers after the censure vote, “but I’m going to be judged by my life, my activities, my contributions to society, and I just apologize for the awkward position that some of you are in.”

Even as the ethics case was proceeding, voters in New York City’s 15th congressional district awarded Rangel his 21st term in 2010. He finally retired at the start of 2017, at age 86, having served 46 years in Congress.

Rangel was the second congressman to represent his district since its creation during World War II. The first, Adam Clayton Powell Jr., pastor of the Abyssinian Baptist Church, served from 1945 to 1970 but spent part of the late 1960s in exile in the Bahamas, avoiding both a congressional investigation of his use of public funds and a contempt-of-court warrant in New York, where he had been found guilty of defamation. Rangel, a member of the New York legislature at the time, challenged and defeated the absent Powell in the 1970 primary.

O’Neill ally

In the House, Rangel allied himself with Massachusetts Representative Thomas “Tip” O’Neill, who would rise to Speaker in 1977. An original member of the Congressional Black Caucus from its founding in 1971, Rangel was elected its president in 1974 and led a push to get more Black congressmen onto key committees.

As part of a shakeup that placed 16 members of both parties onto Ways and Means, O’Neill created an opening for Rangel, who remarked that with the influx of new faces, the committee had “swung away from its conservative, rural orientation for the first time since the days of the 13 colonies.”

For the next four decades, no debate on tax or trade policy, Social Security or Medicare could be considered over until Rangel’s distinctive gravelly voice had been heard.

“There’s not a tax bill that poor and working people don’t come out ahead on because of my efforts,” he told the New Yorker for a 2000 profile. “It’s not because I’m that good. It’s just because other people want so many other things that I can say, ‘Hey, hold it. Stop the parade!'”

Reagan years

In no small part due to Rangel’s pressure, President Ronald Reagan approved factoring inflation into the earned income tax credit, which helps the working poor. In 1987, Rangel won passage of a measure — the so-called Rangel Amendment — denying U.S. companies doing business in South Africa, then under White apartheid rule, the customary tax credit for taxes paid in foreign countries.

He worked with Republicans on proposals to create so-called urban enterprise zones, where tax incentives would lure development. The idea was implemented in 1993 under President Bill Clinton, a Democrat, as empowerment zones, with one, the Upper Manhattan Empowerment Zone, located in Harlem. 

In 1996, Rangel condemned as a “cruel monstrosity” Republican-drafted legislation that ended welfare as an entitlement. When Clinton agreed to sign the bill into law, Rangel lamented, “My president will boldly throw one million into poverty.”

Rangel also proposed reinstating a military draft of all men and women from 18 to 42, on the grounds that U.S. wars in Afghanistan and Iraq were being fought “predominantly by tough, loyal and patriotic young men and women from the barren hills and towns of rural and underprivileged neighborhoods in urban America where unemployment is high and opportunities are few.”

132nd and Lenox

Charles Bernard Rangel was born on June 11, 1930, in New York City, where he was raised in the home of his maternal grandfather, Charles Wharton — “by the tough corner of 132nd Street and Lenox Avenue in the heart of Harlem,” as he wrote in his 2007 memoir, authored with Leon Wynter.

His father, Ralph, who left the family when Rangel was six, was “absolutely no good,” Rangel said. He grew up around the apron strings of his working mother, Blanche, and was raised in part by his grandfather and his older brother, Ralph. He also had a younger sister, Frances.

One of Rangel’s early jobs was delivering copies of a newspaper published by Powell from his headquarters at Abyssinian Baptist Church. Rangel himself was Catholic.

As Rangel told it, he was an exceptional student until reaching DeWitt Clinton High School in the Bronx, where he felt “not able to compete” in the Jewish-dominated student body. He dropped out and signed up for the U.S. Army in 1948, an experience that left him with a sour taste for military recruiters — “no more than salesmen,” he said.

Purple Heart

In Korea in 1950, part of an artillery unit, Rangel was wounded by a mortar shell during a battle with advancing Chinese troops. He was awarded a Purple Heart and a Bronze Star for continuing to lead his heavily outnumbered men to safety.

Turning to the Veterans Administration for help in what to do next, Rangel said, he was given two options: electrician or mortician. But one counselor urged him to finish his education. Rangel took one year to complete his last two years of high school, then went on to graduate from New York University in 1957.

At St. John’s University, studying law on a full scholarship, he got involved with student government and displayed an ease with the ethnic politicking that dominates New York City elections.

“A group of us actually started our own national fraternity — mainly to stick it to the dean, because we thought he catered to one Irish fraternity,” Rangel wrote in his memoir. “And who was in our fraternity? Everybody except the preferred Irish majority.”

Enters politics

Following his graduation in 1960, Rangel worked as an attorney in private practice and a federal prosecutor while testing the waters in local Democratic politics. In 1966, he won election to the New York State Assembly to succeed Percy Sutton, who had been appointed Manhattan borough president. They became longtime allies.

Initially seen as reformers, Sutton and Rangel, along with Basil Paterson and future New York City Mayor David Dinkins, became known as the “Gang of Four” for their control of Harlem politics.

Rangel decided to challenge Powell for Congress after traveling to the Bahamian island of Bimini to try to persuade him to come home and serve. Rangel surpassed Powell by 150 votes out of 25,000 in the Democratic primary that September, then breezed to victory in the general election.

Drug trade

His initial priority was the illegal drug trade, and he urged more spending for rehabilitation programs. He was a member of the House Judiciary Committee when it approved articles of impeachment against President Richard Nixon.

While rising in seniority on Ways and Means, Rangel also sought a role in House Democratic leadership but was derailed in 1986, when Representative Tony Coelho of California defeated him for the role of House majority whip.

With his wife, the former Alma Carter, he had two children, Alicia and Steven.

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Continuous Auditing Transforms Corporate ERPs

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continuous auditing transforms corporate erps

As corporate accounting departments cross the threshold into late July 2026, the adoption of continuous, automated auditing systems has reached a definitive turning point. Driven by advances in artificial intelligence and deep integration with modern Enterprise Resource Planning (ERP) platforms, leading finance organizations are moving away from traditional, periodic post-hoc audits in favor of real-time, 100% transactional verification. This technological transition is redefining internal control environments, reducing compliance costs, and eliminating the structural delays inherent in legacy quarterly closing processes.

Unlike traditional auditing frameworks that rely on statistical sampling—a process that inevitably leaves operational blind spots—continuous auditing software monitors operational data feeds continuously. Every purchase order, electronic invoice, payroll disbursement, and cross-border wire transfer is automatically cross-referenced against established corporate governance parameters, regulatory tax schedules, and anti-fraud algorithms in real time. Anomalies or unauthorized ledger entries are flagged instantly, allowing internal audit teams to investigate and remediate compliance gaps immediately rather than months after the close of a financial period.

The implications for executive financial management are far-reaching. By embedding continuous verification directly into daily transaction workflows, chief financial officers gain uninterrupted visibility into the organization’s true financial standing. Real-time balance sheet auditing eliminates the severe operational bottlenecks associated with month-end and quarter-end financial reconciliations, freeing accounting professionals to focus on strategic financial modeling, tax planning, and capital allocation rather than manual data entry and spreadsheet consolidation.

However, implementing continuous auditing requires accounting leadership to invest heavily in data governance and technical upskilling. Internal audit teams must evolve from manual ledger reviewers into system architects capable of auditing complex algorithms and validating automated data pipelines. Accounting firms and corporate controllers that master continuous auditing will establish a resilient compliance framework capable of meeting stringent international regulatory standards with total transparency.

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U.S. Imposes New 50% Tariffs on Canadian Imports Under Rare Legal Provision

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U.S. Imposes New 50% Tariffs on Canadian Imports Under Rare Legal Provision

WASHINGTON — In a major escalation of cross-border trade friction, U.S. President Donald Trump has signed executive orders imposing new 50% tariffs on a wide selection of Canadian exports, citing discriminatory practices by Ottawa targeting American auto, dairy, and beverage industries.

The new duties, announced Monday, will take effect in 30 days. They target a broad spectrum of consumer and industrial goods—ranging from wine, liquor, and milk products to commercial cement, furniture, clothing, and hockey equipment.

Untested Legal Mechanism

To enact the sweeping measures, the administration invoked Section 338 of the Tariff Act of 1930—a rarely used legal provision allowing the executive branch to levy additional tariffs of up to 50% on foreign nations deemed to discriminate against U.S. commerce.

White House officials noted that Section 338 addresses trade discrimination rather than national security or economic emergencies. The move comes months after prior global emergency tariffs faced legal challenges in domestic courts, signaling Washington’s pivot toward alternate statutory authorities to maintain import duties.

Senior administration officials briefed reporters that the measure directly responds to Canadian provincial bans on U.S. alcohol, restrictions on American vehicle exports, and import quota disparities affecting U.S. dairy and cheese producers relative to third-party trading partners.

“While the administration continues to secure reciprocal trade agreements globally, Canada retaliated against efforts to protect domestic industry,” U.S. Trade Representative Jamieson Greer stated.

USMCA Impact and Carve-Outs

Significantly, the newly ordered 50% duties will apply to designated items even if they otherwise comply with the United States-Mexico-Canada Agreement (USMCA).

However, the administration confirmed key targeted exemptions:

  • Energy products (including oil and natural gas)
  • Potash and critical minerals
  • Fish and seafood
  • Goods already governed by sector-specific duties (such as existing steel and aluminum tariffs)

Administration representatives emphasized that the tariffs do not stem from recent disputes concerning drifting Canadian wildfire smoke, noting that policy options regarding environmental spillover remain under separate review.

Canadian Response and Market Reaction

Following the White House announcement, the Canadian dollar experienced a sharp decline against the U.S. dollar, falling approximately 0.4% during evening trading.

Canadian Prime Minister Mark Carney issued a statement emphasizing that Canada’s earlier counter-duties had merely matched previous U.S. trade actions. “Canada stands ready to engage intensively to address outstanding issues with the U.S. to the mutual benefit of our citizens,” Carney stated, pointing to detailed proposals Ottawa submitted to modernize the USMCA framework.

Ontario Premier Doug Ford took a firmer stance, urging a “dollar-for-dollar” reciprocal response if the measures go into effect on August 19.

With a 30-day implementation window before the duties officially lock in, industry associations and trade groups on both sides of the border are calling for urgent bilateral negotiations to avert further supply chain disruption across North America.

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Accounting

Automated Continuous Auditing: Transforming Compliance and Real-Time Financial Oversight

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Transforming Compliance and Real-Time Financial Oversight

The traditional accounting paradigm—defined by periodic monthly closures and post-hoc annual audits—is rapidly giving way to continuous, automated financial oversight. As of July 2026, forward-thinking accounting practices and multinational corporate finance departments are leveraging continuous auditing systems powered by advanced machine learning models. These systems monitor operational transactions in real time, shifting audit methodologies from sample-based post-analysis to absolute, 100% transaction-level verification.

The operational advantages of continuous auditing are transformative. Standard auditing procedures historically relied on statistical sampling, which, despite rigorous methodology, inherently left gaps where anomalies or fraudulent transactions could go undetected for months. Modern continuous auditing platforms integrate directly with enterprise resource planning (ERP) databases, instantly cross-referencing purchase orders, invoices, bank feeds, and tax records. Any deviation from established control parameters or unusual transaction behavior triggers immediate flags for internal audit teams, dramatically reducing detection lag from quarters to seconds.

Beyond fraud prevention, continuous auditing fundamentally alters internal reporting and decision-making. Executive leadership no longer has to wait weeks after the close of a quarter to evaluate precise financial standing; real-time verified ledger data provides an uninterrupted view of operating margins, tax liabilities, and cash flow dynamics. This real-time visibility enables corporate controllers to adjust capital allocation strategies dynamically, mitigating liquidity constraints and capitalizing on emerging commercial opportunities far more efficiently than competitors bound to legacy reporting cycles.

However, implementing continuous auditing requires accounting professionals to acquire new analytical capabilities. The role of the auditor is evolving from manual data reconciliation toward system validation, algorithmic model governance, and strategic risk interpretation. Accounting firms and corporate finance departments must invest in continuous technical education, ensuring that audit staff possess the data engineering skills necessary to design, maintain, and evaluate complex automated compliance systems.

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