Trump promises to reduce American taxes overseas to win over voters.
Trump’s Overseas Tax Cut Promise “To win over supporters ahead of the election on November 5, in which he is facing off against Democratic Vice President Kamala Harris, Republican contender for President Donald Trump has committed to reduce taxes on American nationals residing overseas.”
The Reasons for Its Significance
Trump and Harris have been courting supporters with promises on the economy in recent weeks. As for the middle class, Harris has stated that she will work to pass a tax cut, while Trump has pushed for lowering the overtime pay tax. Tipping tax elimination has been endorsed by both candidates.
By claiming the overseas tax credit, people can avoid paying twice taxes on the same income received abroad and successfully lower their U.S. tax bill.
The Alarm is raised by America’s French fry king
People in America are rising against fast-food corporations like McDonald’s. This is harming Lamb Weston and other providers of French fries.
Lamb Weston, a significant supplier to fast-food chains, restaurants, and grocery stores, and the biggest manufacturer of French fries in North America is shutting down a facility in the state of Washington. The company said last week that, in reaction to declining client demand, it will temporarily halt manufacturing lines and lay off approximately 400 workers, or 4% of its total workforce.
At a time when demand is weak, the huge potato company is overstocked. Fast-food companies have seen a decline in customer base as a result of restaurant pricing rising more quickly in recent years than those of grocery stores.
This year, Lamb Weston (LW) shares have decreased by 35%.
Value menus are being used by fast-food restaurants like McDonald’s to entice customers to return. A $5 lunch from McDonald’s comprises a McChicken sandwich or a McDole cheeseburger, small French fries, four chicken nuggets, and a small soft drink.
Hurricane Milton Wracks Florida’s west coast, destroying Homes in the process.
As a Category 3 hurricane that threatened large portions of Tampa Bay, Sarasota, and areas still recovering from Hurricane Helene’s devastation, Milton struck Florida’s already storm-battered west coast on Wednesday night.
As the powerful hurricane made landfall in Sarasota County close to Siesta Key, tornadoes, torrential rains, and tropical-storm-force winds were moving inland. While Milton’s sustained winds have slowed to 120 mph from 145 mph, it is still a Category 3 hurricane because to its increased magnitude and potential for extensive destruction.
As of Wednesday night, officials in Florida reported that Hurricane Milton had already destroyed about 125 homes. The meteorological agency issued a warning that catastrophic flash flooding is possible in north central Florida when Milton passes the state, leaving over one million people without power for fifteen minutes after his landfall.
The majority of the lost properties were mobile homes in senior communities, according to Kevin Guthrie, head of Florida’s Division of Emergency Management.
The National Hurricane Center warns that tropical storm force gusts could reach 255 miles away from Milton, increasing the possibility of more extensive damage.
Earlier in the day, millions of Florida residents, who were tired of the hurricane, had been told to leave, especially in the Tampa area, which was first predicted to be in the storm’s direct path. It was predicted that Milton’s core would shift over the Gulf of Mexico.
Milton issued about 100 tornado warnings
The National Weather Service reported on Wednesday that Milton had already had a significant impact on many Floridians even before it made landfall. Its outer bands had generated 98 tornado warnings from the Miami, Melbourne, and Tampa Bay offices.