President-elect Trump continued with his trolling of Canada early Wednesday, slamming U.S. subsidies to its northern neighbor and again claiming that Canadians supposedly want to become the 51st U.S. state.
In a post on his social media platform, Trump wrote: "No one can answer why we subsidize Canada to the tune of over $100,000,000 a year?"
"Makes no sense! Many Canadians want Canada to become the 51st State. They would save massively on Taxes and military protection," Trump wrote.
The post comes amid heightened tensions between the U.S. and Canada over the incoming president’s plans to impose 25% tariffs on Canada for failing to address trade and immigration issues.
Canadian Prime Minister Justin Trudeau flew to Mar-a-Lago in an effort to discuss the issue. Sources say that Trump became animated when it came to the U.S. trade deficit with Canada, which he estimated to be more than $100 billion.
Trump reportedly suggested to Trudeau that if tariffs on Canada would kill its economy, then perhaps Canada should become the 51st U.S. state.
Trump’s threats to impose tariffs on Canadian imports, meanwhile, as unnerved Canada, which is highly integrated with the U.S. economy.
About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports as well.
Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is eager for.
Nearly $3.6 billion Canadian – or $2.7 billion U.S. – worth of goods and services cross the border each day. Canada is the top export destination for 36 U.S. states.
Fox News Digital’s Greg Wehner and The Associated Press contributed to this report.
Virginia Gov. Glenn Youngkin, a Republican, is pushing to eliminate taxes on tips ahead of the commonwealth's next legislative session.
This proposal would return an estimated $70 million annually to the pockets of Virginia workers, Youngkin's office said Monday in a press release.
An end to taxes on tips could help more than 250,000 people in Virginia who work within the food service industry, the personal service industry such as hairstylists, the hospitality industry and others who receive tips through their employment in other industries.
"We have delivered over $5 billion in tax relief to date, and we remain committed to lowering the cost of living for hardworking Virginians. It’s their money, not the government’s," Youngkin said in the release.
"By removing tips from taxable income, it will directly increase the take-home pay of hundreds of thousands of Virginians and give them more buying power, which in turn will improve financial stability, stimulate local economies, and honor the value of their hard work," he continued.
Virginia workers who earn tips would be able to claim a deduction on their state tax return if the income is included in their federal adjusted gross income, the release said.
"This is way to keep more money in their pocket as opposed to giving it to a government. We’re already running surpluses and therefore, no taxes on tips is going to become the manta in Virginia," Youngkin said Monday during an appearance on Fox News' "America's Newsroom."
The governor's proposal echoes President-elect Trump’s call during his campaign to end taxes on tips. Vice President Harris also expressed support for eliminating taxes on tips during her presidential campaign.
The proposal comes ahead of the start of Virginia's legislative session next month. It would require approval from the commonwealth's General Assembly, and it is unclear if Democrats, who control both chambers, would support Youngkin's proposal.
Next year, Virginia's gubernatorial race will be held, where Lt. Gov. Winsome Earle-Sears, a Republican, is expected to face off against U.S. Rep. Abigail Spanberger, a Democrat.
Small businesses are optimistic about revenue boosts in 2025, when President-elect Donald Trump will kick off his second administration, a U.S. Chamber of Commerce report obtained by Fox News Digital shows.
The latest Small Business Index report by MetLife and the U.S. Chamber of Commerce released Monday morning found that seven in 10 small businesses, at 72%, reported they anticipate their revenues to increase next year. Last year, only 65% of businesses reported they anticipated revenue to increase, the data show.
"The growing optimism among small business owners since the beginning of the year is a positive sign as we move into 2025 and potentially points to increasing opportunities in the new year," Bradd Chignoli, executive vice president and head of Regional Business & Workforce Engagement at MetLife, said in a press release provided to Fox Digital. "As more and more employers look to increase investment and staff size, it is important to take advantage of the resources available to them, such as voluntary benefits, which can help strengthen their company’s culture and help attract and retain new talent."
The Small Business Index is a collaboration between MetLife and the U.S. Chamber of Commerce that measures small business owners’ and leaders’ expectations. The survey released Monday was conducted between Oct. 7 – 21, before the election's results, and included responses from 750 small business owners and operators.
The majority of business owners, at 70%, reported that holiday shopping is vital to their overall profit, which is slightly down from 2022’s Q4 report that found 79% of business owners reported the same.
The report found that inflation woes are small business owners’ top concern – as it has been for the last two years, according to the report. This year, however, an increase of business owners reported that both the U.S. economy and their local economies are healthier than they were this time last year.
Thirty-two percent of business owners reported the U.S. economy is in better shape than 2023, up from 25% last year, and 38% reported their local economies are healthier than last year, when 30% reported the same.
The survey also found that the majority of small business owners, at 51%, reported that red tape – including licensing, certification, and permit requirements – makes it harder for them to grow their operations. While 47% of respondents reported that they spend too much time and energy on complying with regulatory requirements.
"Too many regulations cause big headaches for small businesses, even if they feel confident in their ability to comply or have the means to outsource compliance tasks," said Tom Sullivan, Vice President of Small Business Policy at the U.S. Chamber of Commerce. "This quarter’s survey shows these requirements are complex, time-consuming, and often prevent small business owners from focusing on running and growing their businesses."
About 39% of respondents reported that in the last six months alone, they have increased their time and resources on complying with regulations alone, which is up from 33% reporting the same in the last quarter. Compliance with taxes, bookkeeping, payroll and licensing ate up a "great deal or fair amount" of time for business owners, according to the report.
The overall index score for this quarter sits at 69.1, a slight dip from last quarter’s score of 71.2, which was attributed to business owners’ reporting an increase in time and resources on regulation compliance.
Small businesses have been on edge in recent years as inflation spiraled and choked spenders’ pocketbooks. Amid the highly-anticipated election cycle this year, Trump campaigned, in part, on lowering costs for Americans at check-out lines. Trump defeated Vice President Kamala Harris at the ballot box last month, securing 312 electoral votes to Harris’ 226.
"I am promising low taxes, low regulations, low energy costs, low interest rates, secure borders, low, low crime and surging incomes for citizens of every race, religion, color and creed," Trump said from the campaign trail in September. "My plan will rapidly defeat inflation, quickly bring down prices and reignite explosive economic growth."
"I took care of our economy like I would take care of my own company in every decision. I asked, will I create jobs here, or will I be sending jobs overseas? Will it make America richer and stronger, or will it make our country weaker and poorer?" Trump asked. "I always put America first every single time. And when our country was hit by the China virus, we saved the economy. We rescued tens of millions of jobs."
The Biden administration's aggressive regulatory stance towards big businesses has stymied growth, a cohort of entrepreneurs, venture capitalists and other business sector experts expressed to Fox News Digital.
Earlier this week, Albertsons abandoned its $25 million merger with fellow grocery store chain Kroger, after the Federal Trade Commission (FTC), led by President Biden appointee Lena Khan, sought to challenge the buyout, arguing it would stifle competition and raise prices. The challenge and the merger's eventual failure is the latest example of the Biden administration's offensive against big business.
"We have literally had offers from strategic buyers to buy us, and we go to our counsel and the counsel says, 'Don't even try. The FTC will absolutely flag this thing, and you will spend tens of millions of dollars and be stuck in a bureaucratic hell answering questions in court for a year," said venture capitalist Ravin Gandhi, a former CEO who has been involved in multiple merger and acquisition deals and maintains a stake in a number of startups.
"Lena Khan was explicit in talking about even mid-market M&A as a vehicle for monopoly. And anyone who has built a business and sold it, like I have, knows that's ridiculous."
The chilling effect described by Gandhi has been echoed by other analysts, who say that the Biden administration's rhetoric and policies have required businesses to take matters into their own hands by abandoning or restructuring their transactions in the face of FTC and Department of Justice antitrust concerns. An analysis by international law firm Morgan Lewis found that under Biden, the vast majority — nearly three-quarters — of all transactions in which the government sought more details from companies about a proposed merger were subject to enforcement action.
"America wants a different choice," said Cardone Capital CEO Grant Cardone. "This idea that Joe Biden is going to make the world more competitive is a red herring."
Cardone, too, expressed frustration over regulatory battles with the Biden administration, noting that they have made it "almost impossible for people to do business."
Several other business leaders, venture capitalists and people with detailed knowledge of mergers and acquisitions echoed the concerns shared by Gandhi and Cardone that business growth has been stymied.
"The FTC’s aggressive antitrust enforcement under the Biden administration has significantly dampened M&A activity, particularly in the tech sector," said Kison Patel, a financial tech entrepreneur and the host of "M&A Science," a podcast about mergers and acquisitions. "For example, one Fortune 10 tech company has scaled back its deal making from 30 to fewer than five transactions."
Armen Martin, a veteran merger and acquisitions attorney, added that in talking to venture capitalists, he had heard optimism about FTC Commissioner Khan's exit. She will be replaced by President-elect Trump's nominee for FTC Commissioner, Andrew Ferguson.
"I think you will see a lot more M&A activity under the Trump administration as companies feel more confident that the government won't get involved," Martin said.
Meanwhile, in a statement to Fox News Digital, FTC spokesperson Douglas Farrar said that the recently blocked grocery store merger "makes it clear that strong, reality-based antitrust enforcement delivers real results for consumers, workers, and small businesses."
"Today's win protects competition in the grocery market, which will prevent prices from rising even more," he added.
The American Federation of Government Employees (AFGE), the country's largest labor union for federal employees, is fighting back against GOP criticisms that government employees are abusing the use of remote work.
With the incoming Trump administration, Republicans have gone on the offensive when it comes to challenging remote-work and work-from-home policies that came out of the COVID-19 pandemic and have been maintained for years later.
Sen. Marsha Blackburn, R-Tenn., unveiled a package of bills last week that she plans to introduce, aimed at holding the federal government more accountable for its use of taxpayer dollars. One of the bills seeks to require federal agencies to submit a report on the impacts of expanded teleworking since the pandemic, as well as details about how they plan to implement remote-work policies going forward.
Blackburn's bills coincide with a report penned recently by Sen. Joni Ernst, R–Iowa, chair of the new Department of Government Efficiency caucus, which posits ways to reduce the level of government employees working remotely, such as by tracking their individual productivity and tying it to their ability to work-from-home.
Meanwhile, AFGE, which represents roughly 800,000 civil servants, is rebuking these efforts, deriding them as "a deliberate attempt to demean the federal workforce and justify the wholesale privatization of public-sector jobs."
AFGE put out a press release Friday to "set the record straight" on what the group described as an exaggeration from GOP politicians about the misuse of telework. "AFGE believes that facts matter, and that lawmakers should be guided by the facts when making decisions that affect the lives of their constituents," the press statement said.
The document laid out a handful of "myths" about federal employee telework. Several they named came from Ernst's report that she presented to President-elect Trump's new Department of Government Efficiency (DOGE) last week, including one that claims "nearly one-third" of the federal workforce is "entirely remote."
According to AFGE, only 10% of federal civilian workers "were in remote positions where there was no expectation that they worked in-person," citing an August 2024 report to Congress from the Office of Management and Budget (OMB).
The labor group also challenged Ernst's claims from her report that "most federal workers are eligible to telework and 90% of [them] are," as well as her claim that only 6% of the federal workforce goes into the office every single day. Citing the same OMB report to Congress, AFGE argued that actually fewer than half – roughly 46% – of federal workers are eligible for telework, while adding that 54% of the federal workforce have jobs that require them to be in-person every single day.
In response to AFGE's challenge of her claims, Ernst said "the real myth" was that bureaucrats are showing up to work.
"Federal employees are already squealing, and the unions representing them are shamelessly fighting tooth and nail against returning to the office," the Iowa senator told Fox News Digital. "I invite public sector unions to support my legislation to track their productivity during the workday. This will show how hard they are working for the American people and settle this debate once and for all. In the coming days, I will be highlighting more profiles of ‘working’ from home. The tips from whistleblowers just keep coming into my office."
Other "myths" the labor union sought to debunk included claims from Elon Musk and Vivek Ramaswamy, both tapped by Trump to lead DOGE, and Russell Vought, Trump's nominee to lead the Office of Management and Budget. One claim AFGE focused on from Musk argued that when you exclude federal personnel who cannot work remotely due to their day-to-day responsibilities, such as "security guards and maintenance personnel," the number of federal workers going into the office for at least 40 hours per week is around 1%.
A similar claim was also backed up by a source familiar with the data used in Ernst's report, who said the numbers used by AFGE are cherry-picked because they rely on federal workers who could not work remotely if they wanted to, such as Border Patrol officers and Transportation Security Administration (TSA) agents.
Last week, AFGE secured a deal with the Biden administration's Social Security Administration to set current levels of telework at the agency through 2029. The move will impact roughly 42,000 federal workers, according to Bloomberg News, and will serve to protect the ability to do remote work until the agreed upon contract expires in five years.
"Telework and remote work are not in conflict with productivity and efficiency," an AFGE spokesperson said in a statement to Fox News Digital. "In fact, they have been critical tools in maintaining continuity of operations, increasing disaster preparedness, improving efficiency, and recruiting and retaining talent in our federal agencies. We look forward to continuing a constructive, fact-based dialogue on this topic."
Editor's Note: This story has been updated to include comment from AFGE.
President Biden on Tuesday touted that President-elect Trump will inherit the "strongest economy in modern history" when he takes office in January – even as Americans continue to struggle to afford homes and groceries from inflation.
Biden delivered remarks about his "middle-out, bottom-up" economic approach at the Brookings Institution, a public policy think tank in Washington, D.C., claiming there are "a number of quotes" from commentators describing his administration’s economy as strong.
"President Trump has received the strongest economy in modern history, which is the envy of the world," Biden said.
While inflation has eased significantly since its peak in 2022, grocery prices remain substantially higher than they did before the COVID pandemic swept the globe nearly five years ago.
According to the most recent Consumer Price Index inflation data from the Bureau of Labor Statistics, Americans are spending 22% more on groceries in comparison to when Biden took office nearly four years ago.
Voters said the economy was far and away the top issue facing the country – with 40% saying inflation was the single most important factor in their vote – followed distantly by immigration and abortion, according to the Fox News Voter Analysis of the 2024 election.
Even Trump noted during an interview with NBC News’ "Meet the Press" on Sunday that his White House victory last month came down to the economy.
Meanwhile, Biden held to his belief that Trump’s potential tariff plan is "a major mistake."
"By all accounts, the incoming administration is determined to return the country to another round of trickle-down economics and another tax cut for the very wealthy," Biden said. "That will not be paid for, or if paid for, is going to have a real cost, once again causing massive deficits or significant cuts in basic programs."
When asked in his latest interview if he could guarantee that his tariffs wouldn't force Americans to pay more for items, Trump answered, "I can’t guarantee anything."
Fox News Digital’s Paul Steinhauser contributed to this report.
Leaders in the cryptocurrency space are up in arms over documents that were recently uncovered showing the Biden administration instructed banks not to engage in cryptocurrency business.
The uncovered documents allegedly confirm suspicions that cryptocurrency tech founders were being "debanked" under a program known colloquially as "Operation Chokepoint 2.0."
Chris Lane, the former chief technical officer of Silvergate Bank, accused federal regulators of contributing to his bank's collapse after the documents were released Friday.
"Silvergate became what it was serving cryptocurrency clients," Lane wrote on social media. "[Crypto was a] strategic vertical we started focusing on in 2013. Regulators came in sometime in Spring 2023 and severely limited the amount of U.S. dollar deposits we could hold for digital asset clients. There went our entire business model."
Lane described the experience as the equivalent of being "shot in the back."
Meanwhile, David Sacks, President-elect Donald Trump's new artificial intelligence and crypto czar, said Friday that there were "too many stories of people being hurt by Operation Choke Point 2.0," and that "It needs to be looked at."
Last week, Paul Grewal, the chief legal officer for Coinbase, considered one of the largest cryptocurrency exchange platforms, shared documents that he and his team had obtained following Freedom of Information Act requests that have paralleled a protracted legal battle between the company and the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC).
The documents showed that the Biden administration's FDIC sent numerous letters to banks, calling on them to "pause all crypto-asset related activity."
"Law-abiding American businesses should be able to access banking services without government interference," Grewal said Friday in conjunction with his publication of the documents. "The incoming administration has the opportunity to reverse so many poor crypto policy decisions, chief among them politically motivated regulatory decisions like Operation Chokepoint 2.0."
Grewal pledged to continue fighting for transparency, including seeking to obtain copies of the documents without redactions.
Concerns over regulators stifling crypto from engaging with banks gained renewed traction during Thanksgiving week after tech investor Marc Andreessen said on Joe Rogan's podcast that more than 30 tech founders had been "debanked" for political reasons. Andreessen compared what was taking place to a similar Obama-era program known as "Operation Chokepoint," which sought to inhibit high-risk industries like payday lenders and gun dealers.
Fox News Digital reached out to the FDIC and SEC for comment but did not receive a response by press time.
"I won on the border, and I won on groceries," the president-elect said in an interview on NBC News' "Meet the Press."
Trump then drilled down on the high grocery prices that millions of Americans are paying as a key reason for his convincing White House victory over Vice President Kamala Harris.
"Very simple word, groceries. Like almost – you know, who uses the word? I started using the word – the groceries. When you buy apples, when you buy bacon, when you buy eggs, they would double and triple the price over a short period of time, and I won an election based on that," Trump emphasized in his interview, which was recorded on Friday and broadcast on Sunday.
While inflation has eased significantly since its peak in 2022, grocery prices remain substantially higher than they did before the COVID pandemic swept the globe nearly five years ago.
According to the most recent Consumer Price Index inflation data from the Bureau of Labor Statistics, Americans are dishing out 22% more for groceries in comparison to what they paid when President Biden took office nearly four years ago.
And voters' frustrations over high grocery prices, as well as other impacts from inflation, benefited Trump as he ran to win back the White House.
Voters said the economy was far and away the top issue facing the country, followed distantly by immigration and abortion, according to the Fox News Voter Analysis of the 2024 election.
And 40% said inflation was the single most important factor in their vote, and they backed Trump by almost two-to-one, according to the Fox News Voter Analysis, which was a survey of more than 110,000 voters and 18,000 nonvoters nationwide. An AP VoteCast, a survey of more than 120,000 registered voters, had similar findings.
On the presidential campaign trail, Trump railed against the Biden/Harris economy and promised to bring down prices.
"Grocery prices have skyrocketed," Trump said during an August news conference, as he stood by tables stocked with packaged foods.
"When I win, I will immediately bring prices down, starting on day one," he vowed.
And in his interview on "Meet the Press," Trump pledged that "we’re going to bring those prices way down."
But Trump, in the interview, reiterated that he would follow through on his campaign vow to levy large tariffs on imports from the nation's major trading partners.
During the presidential campaign, Harris argued that Trump's across-the-board tariffs, if implemented, would increase prices on many goods and amounted to a "a sales tax on the American people."
Tariffs are taxes that governments place on goods being imported or exported. They can raise the cost of imported products, making local products more attractive to buy.
Asked in his latest interview if he could guarantee that his tariffs wouldn't force Americans to pay more for items, Trump answered, "I can’t guarantee anything."
FIRST ON FOX: A new report looked at company statements, annual reports and other publicly available documents from every Fortune 500 company and found that virtually all of them have maintained their commitments to "diversity, equity and inclusion" (DEI) despite a trend of private companies relinquishing these commitments amid growing criticism.
Walmart, last week, became the latest major company to roll back its DEI commitments. The private sector's move away from such commitments, which include race-based hiring practices or other preferential treatment provided based on someone's immutable characteristics, has been strong enough that it spurred a cohort of 49 Democratic lawmakers in the House of Representatives to pen a letter several weeks ago to the country's Fortune 1000 companies, urging them not to give in to pressure to dismantle their DEI commitments. The lawmakers argued that such commitments help provide for a fairer shot at the American Dream for "everyone."
The effort to ensure that "everyone" is given a fair shot is a main reason why Walmart decided to begin rolling back some of its commitments.
"Our purpose, to help people save money and live better, has been at our core since our founding 62 years ago and continues to guide us today," Joe Pennington, the director of Walmart's global press office, told Fox News Digital. "We’ve been on a journey and know we aren’t perfect, but every decision comes from a place of wanting to foster a sense of belonging, to open doors to opportunities for all our associates, customers and suppliers and to be a Walmart for everyone."
While pressure on private companies to relinquish their DEI commitments has yielded some change, 485 of the country's 500 largest companies continue to maintain some form of DEI commitment, according to a new report from the right-leaning Heritage Foundation.
Researchers spent weeks combing through various documents and communications belonging to all of these companies, and developed a user-friendly database so that readers can see the commitments for themselves.
Jonthan Butcher, the report's lead author, told Fox News Digital that he thinks public pressure is very influential when it comes to getting private companies to relinquish what he described as discriminatory DEI commitments. Sources familiar with Walmart's decision to roll back their DEI policies indicated that public pressure, in addition to feedback from customers and associates, was an aspect that spurred some of the company's changes.
"I think that when the pressure has been applied one by one … businesses recognize that when they're called out, they don't have any way to defend themselves and say, 'Well, what we're really doing is wholesome.' No one has tried to say that," Butcher said. "Instead, they've simply backed away. And appropriately so."
Some of the major companies highlighted in Butcher's report include Nike and UnitedHealth Group.
Nike, for example, was found to have a page on its website about "representation and pay" that asserts, "NIKE is focused on its workforce representation, starting with women globally and racial and ethnic minorities in the United States." Meanwhile, UnitedHealth Group states on its "People & Culture" webpage that the company strives to provide patients with "culturally relevant care" and seeks to "advance a diverse health care workforce."
Fox News Digital reached out to both Nike and UnithedHealth Group for comment but did not receive a response.
Butcher ultimately said he believes Americans are waking up to the racially discriminatory elements of DEI practices, noting that the point of his research is to continue leveraging that momentum.
Conservatives ripped a social media account associated with House Democrats on Tuesday over a deleted post suggesting the economy is strong and seemingly minimizing the struggles of those who have difficulty affording groceries.
"And here we were thinking y'all couldnt afford eggs!" the Ways and Means Democrats posted on X on Tuesday with a screenshot of an X post from journalist Paul Brandus that said, "Record air travel, holiday shopping busting records, stock market at all-time highs. The economy is 'the worst ever,' some Pollyannas whine."
The post, which has since been deleted by the Ways and Means Democrats, sparked backlash from conservatives on social media.
"What an embarrassing thing to post ... wow," Abigail Jackson, communications director for Republican Missouri Sen. Josh Hawley, posted on X, "and Dems wonder why they lost."
"Humpty Dumpty sat on a wall, Egg prices soared—he couldn't afford it all!" GOP Rep. Claudia Tenney posted on X. "Ways and Means Dems tweeted with smiles so wide, While the cost of eggs kept rising high! Humpty Dumpty cracked in despair, 'These prices, these prices, they're too much to bear!' Democrats laugh, they don't seem to care, But we’re stuck paying more for eggs in high-cost despair!"
"This is really what Democrat staffers on Capitol Hill think of the American majority who just rejected their policies after causing the worst inflation crisis our country has seen," conservative commentator Amanda Head posted on X. "This is just how out-of-touch they are!"
"And people wonder why the Dems lost...," Meredith Schellin Turton, digital director for House Speaker Mike Johnson, posted on X.
"Americans have been struggling for FOUR YEARS to afford basic necessities and House Democrats are mocking them," Johnson posted on X. "Talk about your all-time out of touch, disgraceful comments."
"House Dems deleted the tweet below in which they mocked people for complaining about the price of eggs, and also thought they were dunking on Republicans because there was record high spending on Black Friday," Washington Free Beacon reporter Chuck Ross posted on X.
Fox News Digital reached out to House Ways and Means Democrats for comment but did not receive a response.
A Gallup poll released in the lead-up to the presidential election showed 52% of Americans believed they and their families are worse off today than they were four years ago.
The polling powerhouse noted that participants' responses to whether they felt "better off" were typically tied to the U.S. economy.
Gallup’s monthly economic confidence index, which ranges from -100 to +100, registered at -26, with 39% saying they were better off financially four years ago.
During the past three years, Americans have named inflation as the most important financial problem facing their families. The survey's findings suggest that inflation is an underlying fear of many Americans' perception of the economy despite generally low unemployment and steady economic growth.
Approximately 46% of Americans say their current economic conditions are "poor," some 29% described them as "only fair," while 25% said they were "good" or "excellent."
Additionally, 62% said the economy is "getting worse," while 32% said in the survey that it is "getting better."
Fox News Digital's Sarah Rumpf-Whitten contributed to this report.
California’s unemployment insurance (UI) financing system is facing big deficits, requiring a full "redesign," according to a new report from the state’s nonpartisan Legislative Analyst’s Office (LAO).
The system, meant to be self-sufficient, has fallen short of covering annual benefit costs, resulting in a projected $2 billion annual deficit over the next five years and an outstanding $20 billion federal loan balance.
"This outlook is unprecedented: although the state has, in the past, failed to build robust reserves during periods of economic growth, it has never before run persistent deficits during one of these periods," the LAO report, titled "Fixing Unemployment Insurance" and published Tuesday, stated.
Independent analysts project that annual shortfalls will increase California's federal loan, costing taxpayers around $1 billion in interest each year. The system, which is funded by employer payments to the UI Trust Fund, hasn’t been updated since 1984 and "cannot keep up with inflation or provide the intended wage replacement of half of workers’ wages," according to the report.
The current employer tax structure discourages eligible unemployed workers from claiming benefits, while the state’s low taxable wage base hampers hiring of lower-wage workers, analysts found.
One suggestion researchers wrote to fix the gap is to increase the amount of wages taxed for unemployment benefits, raising it from $7,000 per worker to $46,800. Supporters of this change say it would bring in more money to fund the program. The report also recommends reworking how businesses are taxed for unemployment benefits to make the system simpler and encourage more hiring.
To deal with the massive federal loan, the report suggests splitting the cost between employers and the state government, so that businesses aren’t stuck with all the debt.
"These are significant problems in isolation, let alone in combination," analysts wrote. "The significant changes proposed in this report are an honest reflection of these problems. However, whether or not the Legislature takes action, employers will soon pay more in UI taxes than they do today due to escalating charges under federal law."
Gareth Lacy, a spokesperson for the California Employment Development Department, which administers the state’s unemployment insurance program, called it "a thoughtful report" and noted officials "are reviewing it carefully."
"We agree the issue stretches back for decades and the pandemic compounded it," Lacy told Fox News Digital in a statement.
During the COVID-19 pandemic, the state's UI system was hit hard with an overwhelming number of unemployment claims, resulting in the state borrowing roughly $20 billion from the federal government to cover insurance benefits, which the state still owes.
"Not only will the state’s tax system fall short of repaying that loan, the balance is set to grow due to the ongoing gap between contributions and benefits," the report noted. "This will become a near-permanent feature of the state’s UI program and a major ongoing cost for state taxpayers."
Sen. Mike Lee of Utah is convening training for Republican congressional staffers aimed at preparing them to smoothly steer segments of key parts of President-elect Donald Trump's agenda next year through Congress – specifically by mastering a crucial procedural tool known as budget reconciliation.
Republicans are expected to use budget reconciliation to pass much of Trump's tax and economic policies because it is not subject to the legislative filibuster and its 60-vote threshold. This means Republicans will be able to move it along with their Senate majority alone.
On Nov. 18, Lee hosted the first of several trainings with the Economic Policy Innovation Center (EPIC) that featured presenters such as EPIC's Director of Budget Policy Matthew Dickerson, Executive Vice President Brittany Madni and President and CEO Paul Winfree.
A GOP senate aide told Fox News Digital that the trainings for staffers are meant to familiarize them with the budget reconciliation process, which they noted can be complicated.
In order for provisions to be included in reconciliation, they must meet the Senate rules governing the process. In order to be done through reconciliation, policies must be budgetary in nature, usually having to do with spending or the debt limit, for example.
In the past, Republicans have criticized their Democratic counterparts for stretching the interpretation of what can be included in reconciliation in order to pass their policies without 60 votes. However, the GOP has also signaled that they may look to find a way to include other conservative policies in the procedure now that they will have control of Congress.
The GOP will have a 53-seat majority in the Senate in 2025 and 2026. They will be able to pass some policies through the reconciliation process, namely an extension to expiring parts of Trump's signature Tax Cuts and Jobs Act from 2017.
However, if Republicans are unable to fit other policy priorities into the budget reconciliation because they don't meet the requirements for inclusion, they will need to attempt to get some Democrats on board in order to beat the legislative filibuster for normal bills.
The first training was attended by 116 Republican congressional staffers representing more than 70 offices on Capitol Hill, per the Senate Republican Steering Committee. There will be additional events with different groups co-hosting as well.
The aide explained that Lee and the committee wanted to make sure staff were prepared to take on reconciliation and pass Trump's policies as fast as possible.
This effort by Lee and the committee is also to make sure that the resulting budget reconciliation process represents a wide swath of congressional Republicans and not just leadership. By equipping staff with the knowledge and understanding they need about it, priorities of Republicans across the board can be considered and their input acknowledged.
Leaders from two of the nation's top construction trade groups told Fox News Digital they are looking forward to the new Trump administration with hopes their industry will be burdened by fewer regulations and policies enacted under President Biden that they said stymied additional growth in their sector.
On Monday, the Biden administration touted the addition of 1.6 million new construction and manufacturing jobs. However, Ben Brubeck, vice president of regulatory affairs for the Associated Builders and Contractors, cautioned that beneath this seemingly big announcement, "the growth can be much better if we're in the right economic and policy environment."
Brubeck said his association's members have broadly indicated disappointment at the opportunities available to them under various Biden administration programs, including the Infrastructure Investment and Jobs Act (IJA), the CHIPS and Science Act (CHIPS), the Inflation Reduction Act (IRA) and the American Rescue Plan Act (ARPA).
"We survey our members on a pretty regular basis, and the number of members who reported participation in the IJA- and CHIPS- and IRA- and ARPA-funded projects has been pretty — it's been low," Brubeck said. "It's been less than expected."
Brubeck pointed to the fact that it has taken a long time for the money from these programs to be disbursed due to burdensome regulations, such as permitting requirements. He also pointed to oppressive labor policies, such as project labor agreements and increased borrowing costs as other elements that have added to less growth than could have been seen otherwise under President Biden.
Brian Turmail, the vice president of public affairs and workforce for the Associated General Contractors of America, also noted the failure of Biden's major construction investments due to regulations and review processes.
"Our analysis is [the Biden administration] kind of got in their own way affecting the market, because they couldn't help themselves but to put in so many kinds of social and environmental rules on top of their funding that they slowed down the progress they so desperately wanted to see," Turmail said. He also pointed out that the administration "put a lot of new strings" on semiconductor plant construction that has stymied growth.
Turmail and Brubeck said they have hopes growth in the construction sector will ramp up under the Trump administration as companies manage their way through federal requirements enacted under Biden and see others potentially rolled back.
"The irony is that, by the time President Trump comes back into office, we do anticipate a big bump up in infrastructure construction," Turmail said. "Because all those projects where they've announced funding over the last two to three years will finally clear their environmental hurdle and begin construction."
"Our federal contractors are completely on the sidelines right now for these large-scale projects, and this all started at the beginning of the year in January," Brubeck added. "So, they're really excited for the potential of regulatory relief on the horizon as a result of the Trump administration coming in."
The White House did not provide Fox News Digital with an on-the-record comment in time for publication.
EXCLUSIVE: Virginia Republican Gov. Glenn Youngkin will release a video ad Tuesday inviting the countless new workers and officials in the second Trump administration to settle in his state, versus the District of Columbia and neighboring Maryland.
Youngkin, who made education policy a pillar of his 2021 campaign against ex-Gov. Terence McAuliffe amid several school controversies in Northern Virginia, said the commonwealth has better schools than its neighbors.
Youngkin cited a CNBC study ranking Virginia first in the U.S. in education, and first in the nation overall for business – displacing its neighbor in 2023, first-place North Carolina.
"To the new members of President Trump's administration moving to the area, I want to personally invite you to make Virginia your home," Youngkin said.
"Virginia is right across the Potomac. We offer a great quality of life, safe communities, award-winning schools where parents matter, and lower taxes than D.C. or Maryland."
Maryland was listed 31st in best-for-business, and the District of Columbia was unranked, according to the study.
The ad flashed through several scenes in the Old Dominion, from the capital, Richmond, to the King Street Trolley slinking through Old Town Alexandria.
"It's why so many people choose Virginia as the best place to live, work and raise a family," Youngkin said.
Youngkin has called education the "bedrock of attaining the American dream," and the CNBC study credited both Youngkin and the Democratic state legislative majority for compromising on $2.5 billion in new K-12 funding and 3% raises for teachers.
When asked about Virginia being pitched as a new home for the new administration, Trump transition team spokesman Brian Hughes said Youngkin's performance speaks for itself as its own advertisement.
"With the amazing job Governor Youngkin has done bringing common sense, low taxes, and high quality of life to his state, it's no wonder that he has a compelling case to make to people who are exploring next steps in the region." Hughes said.
Youngkin was swept into office in 2021 after a major political upset of McAuliffe – as Republicans had been out of power in Richmond for about a decade.
The last Republican governor, Bob McDonnell, reappeared on the political scene during President-elect Donald Trump's various legal trials, as he, too, had been subject to prosecution by now-special counsel Jack Smith.
In McDonnell's case, the once-rumored 2012 running-mate candidate's political future imploded during his own corruption litigation, but the Supreme Court later unanimously threw out Smith's conviction. Now-Sen. Mitt Romney, R-Utah, ultimately chose then-Rep. Paul Ryan, R-Wis. to run with him that cycle.
With Virginia being the rare state that does not allow its governor to run for consecutive terms, Youngkin's deputy, Lt. Gov. Winsome Sears, has launched a 2025 gubernatorial campaign she said seeks to build on the Youngkin-Sears record.
The prominent Democrat in the upcoming contest thus far is Rep. Abigail Spanberger, who gave up her seat in launching her bid. Spanberger will be replaced in Congress by Rep-elect Yevgeny "Eugene" Vindman, D-Va., – the twin brother of Trump impeachment witness Col. Alexander Vindman.
A federal judge in Kentucky rejected expanded protections implemented by the Biden-Harris administration for foreign farmworkers who come to the U.S. under H-2A visas.
On Monday, U.S. District Judge Danny Reeves granted an injunction siding with Kentucky farmers and Republican attorneys general in Kentucky, Ohio, West Virginia and Alabama who argued that the new rules constituted granting foreign farmworkers collection bargaining rights. Reeves said that Congress, not the Biden-Harris administration, would have to determine whether to allow H-2A visa-holders the right to unionize.
Those new rules, implemented by the U.S. Department of Labor in April, expanded protections for H-2A visa-holders, including requiring employers to ensure they would not intimidate, threaten or otherwise discriminate against foreign farmworkers for "activities related to self-organization" and "concerted activities for the purpose of mutual aide or protection relating to wages of working conditions."
"In perhaps its most blatant arrogation of authority, the Final Rule seeks to extend numerous rights to H-2A workers which they did not previously enjoy through its worker voice and empowerment provisions," Judge Reeves wrote. "The DOL justifies this attempted regulatory expansion as an effort to prevent the alleged ‘unfair treatment’ of H-2A workers by employers to protect similarly situated American workers."
"The Final Rule not so sneakily creates substantive collective bargaining rights for H-2A agricultural workers through the ‘prohibitions’ it places on their employers," Reeves wrote. "Framing these provisions as mere expansions of anti-retaliation policies, the DOL attempts to grant H-2A workers substantive rights without Congressional authorization."
Under a prior preliminary injunction issued by a federal judge in Georgia, the new rules had already been blocked in 17 states. Reeves' decision does not apply nationwide.
Congress created the H-2A temporary agricultural visa program in 1986 through the Immigration Reform and Control Act, allowing employers to hire foreign farmworkers on a temporary, seasonal basis, when there is a shortage of U.S. workers to fill the needed positions. It includes protections for American workers, including setting a minimum wage rate for foreigners coming to work under the program.
Kentucky Attorney General Russell Coleman argued that the Biden-Harris administration rules could have caused "serious and irreversible damage to farmers who are just trying to get by and bring food to Kentucky’s dinner tables."
"We should be working to help Kentucky’s farmers, not put them out of business. This unlawful and unnecessary rule from the Biden-Harris Administration would have made it harder to get farmers’ products to grocery store shelves and would have increased already high prices for families," Coleman said in a statement. "We will continue to do what’s right to stand up for Kentucky’s farmers."
Joe Sanberg, the entrepreneur and anti-poverty advocate who spearheaded a recently defeated state ballot measure to raise California's minimum wage, said he felt "frustrated and disappointed" by the loss, but vowed to continue advocating for struggling Californians.
Proposition 32, which would have raised the state's minimum wage from $16 to $18 per hour by 2026, narrowly failed at the ballot box 50.8% to 49.2%.
The measure was pushed by Sanberg, a progressive business leader, investor and co-founder of the socially-conscious financial firm Aspiration.
"I thought it was going to pass by a narrow margin," he told Fox News Digital. "I'm frustrated and disappointed that we lost by a narrow margin. I also recognize that… people are very angry and frustrated about inflation, and they don't know who and where to blame."
"We should all be able to agree that if you work full-time, you should be able to afford life's basic needs," he added. "And there are millions of Californians for whom that is not the case."
Advocates of Prop 32 said roughly 2 million workers, including hotel and grocery store employees, stood to benefit from the measure, The Associated Press reported.
In recent years, California has raised its minimum wage in an effort to offset increased costs for housing, gas and other necessities. In April, fast-food restaurants in the state with 60 or more locations were mandated to start paying their employees at least $20 per hour.
Business groups, including the California Chamber of Commerce, California Restaurant Association and California Grocers Association, opposed Prop 32, saying high labor costs would hurt small businesses, as well as lead to an increase in prices for customers.
"It's understandable that policymakers, and even many Californians, might be allured and attracted to the concept of a few extra dollars in someone's pocket, but unfortunately, they did not seem to understand the economic fallout of that kind of concept," John Kabateck, the California director for the National Federation of Independent Business, told Fox News Digital.
Opponents also argued that raising the minimum wage too fast would result in job losses.
"When a worker loses a job, or the company goes out of business, the wage is ZERO DOLLARS PER HOUR," business leaders wrote in their official ballot argument.
Sanberg has spent years advocating for anti-poverty legislation and raising awareness about California's tax credit that helps lift people out of financial uncertainty. Despite the loss at the ballot box, Sanberg said he remained optimistic.
He noted that in Imperial County, which sits east of San Diego on the California-Mexico border, President-elect Trump made significant gains with voters, despite Vice President Kamala Harris winning the overall vote count there.
"It's clear that working-class voters are in favor of raising the minimum wage. To me, that sends a message about how we can get both parties working toward making work pay better," Sanberg said.
Moving forward, Sanberg, who grew up with a single parent who struggled financially, said he plans to keep advocating for better pay for workers so they can at least afford the basics.
"I'm open to every approach to get us to that outcome. But that's the outcome that we ought to pursue. I just can't imagine that we can be satisfied with anything less than that," he said. "What is more American than the idea of working full-time and knowing that you can afford your house, your transportation, your food and your health care?"
"That is not some aspiration. That's a basic covenant that I think all Americans are taught to believe that we have with each other," he added. "I think that covenant has been broken now for some time for tens of millions of working-class people around the country."
Opponents of a defeated California ballot measure to raise the state's minimum wage said voters made the right call in pushing back against a proposal that would otherwise have resulted in higher inflation.
Proposition 32, which would have raised California's minimum wage to $18 per hour, was narrowly beaten back as only 49.2% of voters supported the proposed hike. The current minimum wage in the state is $16 per hour.
Fast-food restaurants with 60 or more locations are already mandated to pay their employees at least $20 per hour.
"Basic economics shows that raising the minimum wage ultimately drives up inflation and unemployment, predictably hurting workers and families," Republican State Sen. Brian Jones, the upper chamber's minority leader, told Fox News Digital. "More inflation and higher costs are the last things we need right now. Californians made the right call to reject Prop 32 and protect financial stability."
Business groups, including the California Chamber of Commerce, California Restaurant Association and California Grocers Association opposed the measure, saying high labor costs would hurt small businesses.
Chamber of Commerce CEO Jennifer Barrera told The Associated Press that the economy and personal costs were top of mind in the election, a message that resonated with the voters.
John Kabateck, the California director for the National Federation of Independent Business, said minimum wage hikes amid a period of inflation would have added to the current economic woes many residents already face.
"At the end of the day, this really came down to affordability for Californians already struggling," Kabateck told Fox News Digital. "People realized a higher minimum wage was not going to make their bad situation that much better."
Prop 32 was authored by startup entrepreneur Joseph Sanberg, an anti-poverty advocate and major investor in Blue Apron, the ingredient-and-recipe meal kit company.
"The time is now, because the pandemic has heightened the people’s understanding of the realities so many Californians face," Sanberg said in his official ballot argument. "Cost of living is rising faster and faster... but wages haven’t increased commensurately."
Fox News Digital has reached out to Sanberg and various trade groups.
Sanberg was heavily involved in spearheading Prop 32.
Jones called the measure a failed "publicity stunt" hatched by Sanberg that was part of "his pattern of misleading Californians."
"Known for posing as an environmentalist while facing scrutiny for dubious claims, Sanberg shifted tactics by pushing a minimum wage hike and falsely branding himself as a champion of the working class," he said. "Californians saw through his deception and rightly rejected his Prop 32 that would have decimated our economy."
Kabateck said policymakers in Sacremento didn't seem to be in touch with small business owners and voters struggling to get by.
"At the end of the day, who doesn't want a few dollars in their pocket? But at what cost?" he said.
A prominent economist trying to influence the incoming Trump administration's economic policies is facing criticism from conservative groups over his organization's liberal donors and past criticism of President-elect Trump's agenda.
Oren Cass, who previously worked on both of Mitt Romney's presidential campaigns, is the founder and chief economist of American Compass, a conservative think tank that has made inroads with multiple prominent Republican lawmakers in Congress.
Over the past year, Cass' philosophy has reportedly gained traction in some pro-Trump circles, but several conservatives have taken issue with his increased influence and worry his policies will undermine the Trump agenda based on his past anti-Trump comments. During a May 2021 interview, Cass likened Trump to "an earthquake" because he believed Trump was a "disaster in many ways."
"Self-proclaimed ‘conservative’ Oren Cass and his American Compass is not, and will never be, viewed as a legitimate voice in Republican policy circles. CNBC’s Joe Kernen got it right when he called them 'bonkers, walking quacking uniparty progressivism.' And their funding only proves that," Club for Growth President David McIntosh told Fox News Digital.
"As American Compass continues to stay in business thanks to generous donations from radical left-wing organizations like the Hewlett Foundation and the Omidyar Network, Club for Growth is proud to stand with President Trump and the overwhelming majority of Republican voters who support actual conservative policies, like the proposals described in our Foundation’s recent "Freedom Forward Policy Handbook," including: tax cuts, spending cuts to reduce the deficit, deregulation to boost American manufacturing, American-first energy policies, school choice and worker freedom," he continued.
A significant chunk of American Compass' funding comes from a handful of foundations tied to liberal causes, including almost $2 million from the William and Flora Hewlett Foundation and the Omidyar Network, which has provided 11% of American Compass' funding and is led by a founder described as "notable for funding liberal-in-conservative clothing groups that target former president Donald Trump and his supporters."
American Compass is also associated with the "Reimagining Capitalism Partners" fund, which includes the Center for American Progress, Sixteen Thirty Fund-linked Groundwork Action, Progressive Caucus Action Fund, Tides Advocacy and Demos, a socialist think tank.
Cass’ group has also received over $200,000 from the Rockefeller Foundation, a multibillion-dollar foundation that has bankrolled several left-wing causes, including radical environmental groups and "Imagining America," a "coalition of colleges engaged in left-wing curriculum development," according to the Capital Research Center.
The San Francisco Foundation, which has funneled hundreds of millions of dollars to far-left groups, gave $100,000 to American Compass.
When Fox News Digital pressed Cass on his organization's funding and criticism from rival conservative groups, he blasted the "anti-tax zealots" criticizing his organization.
"American Compass advocates for limited government and a commitment to paying for the government that we have rather than leaving the bill to our children," Cass told Fox News Digital. "Anti-tax zealots can lobby for larger deficits if they want, but conservatives are under no obligation to follow them into the fiscal ditch."
In addition to the money that American Compass has received from left-wing groups, its advisory board includes multiple Democrats, including Ganesh Sitaraman, who served as a senior fellow at the Center for American Progress and has been a longtime adviser to Sen. Elizabeth Warren, D-Mass., dating back to her 2012 Senate campaign.
Matt Stoller, the research director at the American Economic Liberties Project, which received at least $500,000 from George Soros’ Foundation to Promote Open Society and at least $230,000 from the Omidyar Network Fund, is also on the advisory board and has donated tens of thousands of dollars to Democrats.
Tom Hebert, the director of competition and regulatory policy at Americans for Tax Reform, blasted Cass as an "anti-Trump activist" in a statement to Fox News Digital.
"The American people returned Donald Trump to the White House with a strong economic mandate: cut taxes, slash job-killing regulations and promote worker freedom. Oren Cass founded American Compass as a ‘post-Trump’ organization and opposes the Trump economic agenda at every level, even calling the landmark Trump tax cuts an ‘expensive failure,’" Hebert said.
"Cass is not a conservative. He’s an anti-Trump activist that MSNBC has on speed dial to undermine Trump’s second-term agenda."
In addition to Hebert’s quote, Americans for Tax Reform published a piece in July with the headline, "Who Said It, Oren or Warren?" The piece pointed to the tax plans of Sen. Warren and Cass’ American Compass, which were both published a month earlier and include multiple quotes from Warren and Cass, asking readers to identify the source of each quote.
"Warren’s plan calls on Democrats to reject extending the Trump tax cuts," the piece says. "The proposed budget released by Oren Cass’ American Compass, which describes itself as ‘the flagship for a healthier and more responsive post-Trump conservative movement,’ calls for the full expiration of the 2017 Trump tax cuts, would increase the corporate rate to the Biden-preferred level of 28%, and backs Warren’s call for a financial transaction tax."
Americans for Tax Reform went on to call American Compass "left-wing" and said Cass was the "leader of the tax-hiking American Compass" in a separate post from earlier this year due to his opposition to Trump’s tax cuts.
Cass was mocked earlier this year after he went on CNBC and suggested that lowering taxes and the corporate tax rate is not "conservative," adding, "There is nothing conservative about that … absolute radical nonsensical notion."
The clip prompted Richard Stern, who serves as the director of the Heritage Foundation's Grover M. Hermann Center for the Federal Budget, to sound off on Cass, saying, "[Cass on] CNBC this morning defending the uniparty's attempt to steal your money and put it in their hands — and to stop capital from flowing to new and small businesses. With ‘friends’ like this, who needs socialists."
During a C-SPAN interview over the weekend, Cass praised some aspects of Trump's first administration, saying the United States "made a tremendous amount of progress" by implementing a "much more aggressive trade policy and confronting China." He also praised the incoming Trump-Vance administration on some of its Cabinet picks, including calling Sen. Marco Rubio, R-Fla., an "excellent" State Department pick because of his work sounding the alarm about China being our "main adversary."
He added he hopes the administration will have a "labor policy that is much more focused on the interests of workers," pointing to Vice President-elect JD Vance's past comments and saying commerce and labor are the "heart of our economic policy."
Despite Cass offering some praise of Trump, he has been a longtime critic of Trump's 2017 tax cuts, calling them an "expensive failure" and saying Trumpism is facing an "inevitable expiration" and adding in September 2020 that Trump is "building no intellectual foundation, no institutional infrastructure and no policy agenda."
After Trump's 2024 election victory, Cass continued to signal opposition to Trump's tax policy.
"Well, I think we have today a politics where both candidates go around talking about how they`re just going to cut everybody`s taxes," Cass told PBS Nov. 10. "And, of course, everybody likes a tax cut. But I don`t think those are the things that are going to turn our economy in a much better direction."
During another interview from earlier this year, Cass said one of the things he thought was "most encouraging" was that there aren't "mini Trumps" and that he is "extremely encouraged" by the post-Trump era Republican leaders he is seeing.
The Las Vegas Grand Prix is back for a second spin and the most expensive F1 race to date will look a little different this year, with some cheaper tickets and more for fans to enjoy.
The record-high prices last year might have scared away some fans from attending, but the Las Vegas Grand Prix and hotels around the track have made some adjustments this year, hoping to bring out an even larger crowd.
"Our price point has been lowered this year, which we're really happy about. We are at a $3,500 price point for the three-day ticket to the clubhouse," said Hilton Grand Vacations Vice President of Sports Marketing Aaron Stewart.
Ticket sales for the F1 Clubhouse at the Elara by Hilton Grand Vacations are up nine times compared to the same time last year. They say making a couple tweaks to their F1 experience was the key.
"You're going to be able to see three nights of private concerts…when you pair in the top-shelf premium open bars and catered buffet options, it's really a pretty good deal. So, we've already seen a really good response in the ticket sales this year," said Stewart.
A couple turns away from the Elara, Resorts World Las Vegas is also preparing for the race differently this year.
"I think last year was… call it a test year. I think we were all trying to figure out what is that customer journey going to look like? What is that customer behavior going to look like?" said Resorts World Las Vegas Chief Marketing Officer Ronn Nicolli Jr.
Even though Resorts World is just off the track, they want to make sure everyone’s in on the action.
"We want locals to be here. We're easy and accessible to get to…I think last year did scare a lot of people away. I think some of the pricing made locals feel a certain way. I think this year was about recovery, getting people excited about F1, getting the community to really embrace this time of year in this race," said Nicolli Jr.
F1 Las Vegas remains the most expensive race in 2023 and 2024. The average ticket price to attend is above $1,600, which is three times the season average, according to F1Destinations.com.
But this year, the LVGP is offering more ticket options, so people can make and stick to their budgets.
"The addition of other ticketing experiences includes a general admission ticket, a single day ticket, so you can really customize what you want to do. And so, there's kind of every different budget and price point is represented based on the experience you want to have," said F1 LVGP Senior Vice President of Corporate Affairs Lori Nelson-Kraft.
The cheapest tickets this year start at $99 for the first practice on Thursday, and $600 for the entire weekend.
Drivers will take to the track for their first practice Thursday night, with the second practice on Friday, and the big race on Saturday at 10 pm. PST.
