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Economics

What America’s presidential election means for taxes

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NOT ONLY are taxes one of the only certainties in life, they are also one of the only certainties in this election. That is because of the looming expiration of tax provisions passed in 2017, the main legislative accomplishment of Donald Trump’s term in the White House. This presents a fiscal cliff. By the end of 2025 whoever is president must sign new rules into law, or most Americans will see sharply higher income taxes.

Economics

A court resurrects the United States Institute of Peace

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The night the United States Institute of Peace (USIP) was taken over, March 17th, staffers from Elon Musk’s Department of Government Efficiency (DOGE) walked round its headquarters smoking cigars and drinking beers while they dismantled the signage and disabled the computer systems. The takeover of the USIP building in Washington, DC, earlier that afternoon was one of the more notable moments of President Donald Trump’s revolution in the capital, because the think-tank is not actually part of the executive branch. The Institute’s board and president, George Moose, a veteran diplomat, were summarily fired. He and other senior staff were ultimately forced out of the building at the behest of three different police agencies. Then a DOGE staffer handed over the keys to the building to the federal government.

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Economics

How much worse could America’s measles outbreak get?

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AMERICA’S MEASLES outbreak is alarming for several reasons. What began as a handful of cases in Texas in January has now surpassed 800 across several states, with many more cases probably going unreported. It is the worst outbreak in 30 years and has already killed three people. Other smaller outbreaks bring the total number of cases recorded in 2025 so far to over 1,000. But above all, public-health experts worry that the situation now is a sign of worse to come. Falling vaccination rates and cuts to public-health services could make such outbreaks more frequent and impossible to curb, eventually making measles endemic in the country again.

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Economics

California has got really good at building giant batteries

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A renewable energy corridor is rising in eastern Kern County, California—where the Mojave Desert meets the Sierra Nevada mountains. Among the wind turbines, solar panels and Joshua Trees are giant batteries that look like shipping containers. Tesla workers tinker with the ones at the Eland solar and storage project, developed by Arevon Energy. They wear sun hats and boots and warn your correspondent to watch out for rattlesnakes.

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