U.S. companies skirted at least $40 billion in taxes since the beginning of 2025 thanks to schemes in places like Malta, Bermuda and Cyprus.

© Susan Wright for The New York Times

Gov. Kathy Hochul used the state budget as a vehicle for policy initiatives, including a new second-home tax and a push to make the state less hospitable to immigration agents.

© Cindy Schultz for The New York Times

China’s tobacco monopoly has become so financially vital to the government that even its powerful leader has failed to curb the country’s smoking habit.

China’s tobacco monopoly has become so financially vital to the government that even its powerful leader has failed to curb the country’s smoking habit.

© Gilles Sabrie for The New York Times

Silicon Valley’s growth over recent decades has made California rich — and one of the most unequal places in America.

Americans should be cleareyed about what President Trump is doing: He is taking $1.8 billion worth of taxpayer money and rewarding loyalists willing to defy the law and commit violence. The Times editorial board explains in this video.

The president’s $1.8 billion slush fund is causing further cracks in the Republican Party.

Forget complex schemes. There is an easier way to get revenue from the wealthy.