The 10 richest U.S. billionaires increased their collective net worth by $365 billion over the past year. It would take a median worker more than 726,000 years to earn that amount. If those gains were taxed as regular income, they would owe $135 billion in federal taxes.
Advocates and North Carolinians are calling on representatives, including Senator Thom Tillis, who previously voted to roll back big bank regulations, to center the needs of their constituents over billionaires.
The resolution, backed by all present Democrats and three Republicans — Rand Paul (Ky.), Susan Collins (Maine), and Lisa Murkowski (Alaska) — failed in a 49-49 tie vote in the GOP-controlled Senate. It sought to end the national emergency Trump declared to justify his broad tariff regime. Despite his past support for narrower efforts to rein in Trump’s tariff authority, Tillis declined to join this latest push.
The 5/6 event, “Dock the Greed” was organized by the Coalition Against Right-Wing Extremism (C.A.R.E.) in partnership with Oxfam America to protest the Trump administration’s harmful federal cuts, which could be devastating for working-class North Carolinians, according to the group’s press release.
Hour by hour, here’s how a typical family’s day in North Carolina involves imported goods:
The 18 senators who signed the letter warned that without swift intervention, the tariffs could cause lasting harm to North Carolina’s economy.
Voicing support for the tariffs while it was politically advantageous for him in gaining Trump’s favor and then flipping his script when they went wrong, as predicted–without naming the party responsible–is weak. While Tillis bounces back and forth, desperately trying to balance the extremism of his party’s primary voters with the moderate general electorate of North Carolina, his constituents suffer.
The move has left hundreds of school systems and food banks reeling. They already face rising food prices and are struggling to help community members with growing food insecurity.
The price of car parts will go up by more than 25%, which will affect the majority of vehicle prices since many, including ones built in the U.S., use parts from Canada and Mexico. Car prices will go up for around 90% of new cars made in North America, according to Matthew Metzgar, an economics professor at UNC Charlotte. A recent study suggested that some car prices, particularly full-size trucks and SUVs, could go up by as much as $10,000.
North Carolina Governor Josh Stein revealed his state spending plan, launching his first budget battle since taking office. The proposal includes more money for schools, Hurricane Helene recovery, and targeted tax cuts for working families.