New York City Mayor Zohran Mamdani celebrated a proposal to tax luxury second homes owned by the ultra-wealthy, a plan expected to generate at least $500 million annually. Earlier in the day, New York Gov. Kathy Hochul unveiled a pied-à-terre tax on luxury second homes in New York City valued at $5 million or more, allowing the city to impose an annual surcharge on ultra-wealthy nonresidents. The proposal...

U.S. Supreme Court Justice Sonia Sotomayor said Wednesday she regretted “hurtful” remarks about a colleague, apologizing in a court-issued statement after seemingly taking aim at Justice Brett Kavanaugh’s perspective on immigration enforcement. During a prior appearance at the University of Kansas School of Law, Sotomayor, without mentioning him by name, criticized Kavanaugh “for failing to grasp the real-world effects of an unsigned order last year that allowed immigration...

Treasury Secretary Scott Bessent suggested Tuesday that President Donald Trump’s tariffs could be restored as early as July, signaling a rapid pivot by the Trump administration after the Supreme Court struck down Trump’s IEEPA-based tariffs earlier this year, forcing the administration to turn to other trade authorities. “We had a setback at the Supreme Court in terms of the tariff policy,” Bessent said Tuesday at an event hosted...