[link removed]

November 13, 2025

Welcome to The Lighthouse, the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.

Dear Readers,

After a historically long shutdown, Congress is moving forward with a funding bill vote, which is anticipated to pass. The House is meeting for the first time in nearly two months. Previously, the Senate had approved ad hoc funding for some federal agencies. Assuming a passed vote is imminent, the government shutdown will officially end upon the president's signature after some forty days.

This week, Sam Jenson discusses how Trump’s unprecedented $230 million damages claim against the DOJ exposes a troubling loophole where a president can effectively authorize their own settlement.

Scott Beyer writes about how the estate tax, intended to curb wealth concentration, often devastates family businesses, forcing costly legal maneuvers that undermine their long-term viability.

Nikolai Wenzel argues the federal government’s shifting use of civil rights law to control university funding reveals a deeper constitutional clash over academic freedom, donor intent, and the limits of centralized power. Wenzel points out that this is principally a 10th Amendment issue.

Finally, Allen Gindler notes that the Fed's latest rate cut underscores significant internal divisions at the Fed.

Happy reading.

Jonathan Hofer
Managing Editor

Top picks this week
[link removed]


** Why Trump’s $230 Million Claim Exposes a Gap in Settlement Rules for Presidents ([link removed])
------------------------------------------------------------


** Can a president write their own check? ([link removed])
------------------------------------------------------------


** by Sam Jenson
------------------------------------------------------------

This is a textbook example of a scenario where a president can monetarily profit from the office they hold and “we the people” will foot the bill because the president feels entitled to this money.
Read More ([link removed])

[link removed]


** How Death Taxes Kill Family Businesses ([link removed])
------------------------------------------------------------


** The vaguely-named “estate tax” can harm multi-generational businesses, but forming trusts that protect against the tax is also problematic. ([link removed])
------------------------------------------------------------


** by Scott Beyer
------------------------------------------------------------

Nothing is certain except death and taxes—and the death tax.
Read More ([link removed])

[link removed]


** Remembering the Tenth Amendment ([link removed])
------------------------------------------------------------


** Harvard, free speech, and constitutional constraints ([link removed])
------------------------------------------------------------


** by Nikolai G. Wenzel
------------------------------------------------------------

Instead of rearranging the deckchairs on the Titanic of unintended consequences, we should be addressing the root of the problem.
Read More ([link removed])

[link removed]


** The Politics of Fed Interest Rates ([link removed])
------------------------------------------------------------


** by Allen Gindler
------------------------------------------------------------

Most people hear about the Federal Reserve the same way they hear about the weather. There’s a reason for that.
Read More ([link removed])


** FEATURED BOOK — OUT NOW!
------------------------------------------------------------


** Beyond Homeless ([link removed])
------------------------------------------------------------


** Good Intentions, Bad Outcomes, Transformative Solutions ([link removed])
------------------------------------------------------------


** Edited by Mary L. G. Theroux, Lawrence J. McQuillan, and Adam B. Summers
------------------------------------------------------------

“With an impressive array of scholars and data, Beyond Homeless should be essential reading for those curious about how to change course on homelessness.”

—Judge Glock, Director of Research and Senior Fellow at the

Manhattan Institute; contributing editor of City Journal
[link removed]

Donate ([link removed])

[link removed]
[link removed]
[link removed]
[link removed]
[link removed]
[link removed]
mailto:[email protected]

You received this message because you are subscribed to The Lighthouse.

Independent Institute, 100 Swan Way, Oakland, CA 94621-1428
Manage preferences ([link removed]) | Unsubscribe ([link removed])

Copyright © 2025 Independent Institute, All rights reserved.