DOGE’s next target: IRS

Things are getting tense at the Internal Revenue Service. Layoffs are looming smack in the middle of tax season as part of DOGE’s mission to cut the federal workforce. Meanwhile, the commerce secretary says President Donald Trump wants to abolish the agency altogether. Get ready for a Kai rant! Plus, Trump wants to know if there’s still gold at Ft. Knox. No, really! And, finally, we’ll smile about all the good things that have happened to you lately.

Here’s everything we talked about:

• “Joint Chiefs Chairman CQ Brown on list to be possibly removed by Hegseth” by ABC News
• “Commerce Secretary Lutnick: Trump’s goal is to abolish the IRS” from Axios
• “I.R.S. to Begin Laying Off Roughly 6,000 Employees on Thursday” from The New York Times
• Watch: “Trump wants to know if there’s gold in Fort Knox” by AP News
• Watch: “Fmr. Treasury Secretary Steven Mnuchin on U.S. gold reserves at Fort Knox” from CNBC Television
• “What to know about Fort Knox’s gold depository that Musk wants audited” from Axios
• “A campus sign said, ‘Tell us something good.’ Students delivered.” by The Washington Post

Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.