What’s happening this week in economics?

With proposals to adopt the nation’s highest corporate income tax, second-highest individual income tax, and most aggressive treatment of foreign earnings, as well as to implement an unusually high tax on property transfers, Vermont lawmakers have no shortage of options for raising taxes dramatically.

Naussany Investments & Private Lending LLC, the company Riley Keough accused of trying to defraud her family into selling Elvis Presley’s Graceland, said they’ve dropped all claims on the property hours after a judge blocked a foreclosure sale on the estate during a Wednesday, May 22 court hearing.

The Federal Reserve has hinted at several rate cuts in 2024. As time goes on, however, that’s less of a certainty.