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Former U.S. President Donald Trump on Nov. 15, 2022. Eva Marie Uzcategui/Bloomberg via Getty Images Former President Donald Trump paid millions of dollars in state and local taxes from 2015 through 2020, according to income tax returns publicly released Friday by the House Ways and Means Committee. But while the returns show associated tax deductions were capped at $10,000 a year starting in 2018 — due to a tax law that took effect that year — experts say Trump may have been able to bypass the cap via a workaround involving certain business entities. Doing so would have given him a bigger federal tax break — and sidestepped a contentious tax policy in one of his signature legislative achievements, known as the Tax Cuts and Jobs Act, experts said. More from Personal Finance: Why egg prices surged in 2022 What to know before tapping retirement savings to pay credit card debt What to do if you win the $640 million Mega Millions jackpot "Just because there was a $10,000 cap, there are...

Economist Austan Goolsbee will take over as president of the Chicago Federal Reserve early next year as the central bank weighs critical policy moves ahead, according to an announcement Thursday. Goolsbee will take the seat officially on Jan. 9, 2023 and finish a term begun by the retiring Charles Evans that expires Feb. 28, 2026. Currently a professor at the prestigious University of Chicago's Booth School of Business, Goolsbee previously served as chairman of the White House's Council of Economic Advisors from 2010-11 under then-President Barack Obama. "Austan is an exceptional choice to be the next president of the Federal Reserve Bank of Chicago. He is a highly accomplished economist with extensive policy experience and a strong commitment to public service," Helene Gayle, chair of the Chicago Fed's board of directors, said in a statement. Goolsbee comes to the Chicago Fed at a sensitive time for the central bank. As part of an effort to fight the highest ...