Author: Money Mechanics

Today, February 20, 2026, the United States Supreme Court delivered a major blow to President Donald Trump’s economic program by striking down his sweeping global tariffs in a 6–3 decision.The Court concluded that Trump lacked the authority to impose broad import taxes under the 1977 International Emergency Economic Powers Act (IEEPA). The ruling that upends one of his administration’s signature economic tools and could have far-reaching effects on consumers, businesses, and U.S. trade policy.In a press conference Friday afternoon, Trump described the decision as “deeply disappointing” and “terrible.” From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better…

Key Takeaways President Donald Trump’s tariff policies did little to shrink the overall 2025 trade deficit.However, deficits did fall with several major U.S. trading partners including Canada, Japan and South Korea, while the imbalance with China hit its lowest levels in nearly two decades.U.S. deficits with Taiwan, Vietnam and Mexico surged higher.On Friday morning, the U.S. Supreme Court ruled that most of the tariffs were illegal. President Donald Trump’s tariffs helped lower the trade deficit with several major U.S. trading partners. But the total U.S. trade deficit for 2025 slipped by just 0.2%. The data was released just a day…

(Image credit: Getty Images)If you’re receiving a life insurance payout, you’ve already got more than you need on your plate. The last thing you want to deal with right now is an IRS audit for not paying taxes you didn’t even know you owed. The good news is you probably won’t have to.For the majority of beneficiaries, life insurance proceeds are not taxable. At both the federal and state level, the death benefit isn’t treated as taxable income. Even if you’re borrowing against your life insurance, you wouldn’t owe taxes on the cash unless the policy is canceled or lapses…

Key Takeaways: Three BDCs managed by Blue Owl Capital announced a $1.4 billion sale of partial assets at fair value as of February 12th, equivalent to 99.7% of par value Proceeds from the sale provide liquidity to OBDC II shareholders, as intended since the fund’s formation in 2016, while enabling portfolio optimization for OBDC and OTIC. Executives have underscored the portfolio’s strength and the underlying credit quality. By Exec Edge Editorial Staff Three business development companies managed by Blue Owl Capital announced on Feb. 18, 2026, that they have entered into separate agreements to sell a total of $1.4 billion…

Personal income increased $86.2 billion (0.3 percent at a monthly rate) in December, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $75.7 billion (0.3 percent), and personal consumption expenditures (PCE) increased $91.0 billion (0.4 percent).This report for December 2025, originally scheduled for January 29, 2026, was rescheduled due to the October–November 2025 government shutdown.Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $90.2 billion in December. Personal saving was $830.8 billion in December, and the personal saving rate—personal saving as a percentage of…

In-brief analysis February 20, 2026 U.S. power plant developers and operators plan to add 86 gigawatts (GW) of new utility-scale electric generating capacity to the U.S. power grid in 2026 in our latest Preliminary Monthly Electric Generator Inventory report, a record if realized. Solar power makes up 51% of the planned 2026 capacity additions, followed by battery storage at 28% and wind at 14%. In 2025, 53 GW of new capacity was added to the grid, the largest capacity installation in a single year since 2002. Solar. We expect 2026 to be another big year…

Saudi oil exports to India are on course to book the strongest month since 2020, according to data from Kpler cited by Bloomberg. India has been under intense pressure from the United States to stop importing from Russia, and while New Delhi has been wary of making any formal commitments, oil flows to one of the world’s largest importers of the commodity have changed. Saudi oil shipments to India are seen at a daily average of between 1 million barrels and 1.1 million barrels, Kpler lead research analyst Sumit Ritolia said. This is almost the same rate as the rate…

The ruling does not stop Trump from trying to impose tariffs under other laws, although these methods come with more limits. The majority concluded that the Constitution “very clearly” assigns Congress the authority to impose taxes, including tariffs. Chief Justice John Roberts wrote the majority opinion, and Justices Clarence Thomas, Brett Kavanaugh and Samuel Alito dissented. “The president asserts the extraordinary power to unilaterally impose tariffs of unlimited amount, duration, and scope. In light of the breadth, history, and constitutional context of that asserted authority, he must identify clear congressional authorization to exercise it,” Roberts wrote. “As such, we hold…

When the first Toy Story movie came out in 1995, Google didn’t exist yet and Apple was on the verge of bankruptcy. No one could have predicted that over thirty years later, Pixar would still be making Toy Story movies, nor could anyone have known that the latest installation in the franchise would pit Buzz Lightyear and a balding Woody against an evil AI tablet called Lilypad. But sure enough, Toy Story 5 confronts old-school toys like Mrs. Potato Head, Rex, and Slinky Dog against the sinister threat of technology. The trailer shows Bonnie, the young girl who inherited Andy’s…

Key Takeaways Most of the tariffs President Donald Trump imposed in 2025 were illegal, the Supreme Court ruled Friday.Trump has vowed to reimpose the import taxes under other laws if he were defeated in the Supreme Court.The economic impact of the ruling could be limited if the administration swiftly replaces the tariffs. Get personalized, AI-powered answers built on 27+ years of trusted expertise. President Donald Trump’s signature economic policy was illegal.That’s according to the Supreme Court, which ruled Wednesday against the sweeping tariffs Trump imposed on most U.S. trading partners in 2025 using his emergency powers. In a 6-3 ruling,…