WASHINGTON (Reuters) - Cuts in funding for the Internal Revenue Service, long eyed by Republicans in Congress, would increase the federal deficit by $140 billion over a decade, slow service and reduce complex audits of big companies, Deputy Treasury Secretary Wally Adeyemo said on Tuesday. Adeyemo told reporters that the IRS faced a $20 billion drop in funding over the next decade unless Congress acted as part of its next government funding measure to address a budgetary anomaly included in the September continuing resolution. The IRS would have to slow its modernization drive and reduce enforcement while call wait times would surge unless Congress fixed the budget issue, he said. And the challenges would get worse if Republicans made good on their vow to target IRS funding. Cutting IRS funding would mean the end or a big slowdown in enforcement initiatives targeting wealthy individuals, large corporations or complex partnerships, he said, citing two initiatives that have recovered $1.3 billion so far. Less funds for technology, artificial intelligence and machine learning would limit big-ticket enforcement efforts, while audits of middle-class taxpayers would likely increase because they were easier to carry out with less technology. U.S. President-elect Donald Trump previously backed efforts to replace 1960s-era IRS equipment, and the current strategic plan largely mirrored one drafted by his previous IRS commissioner, Adeyemo said. But Trump vowed during this campaign to rescind all unspent funds from the Inflation Reduction Act, including billions of dollars earmarked for increased enforcement by the IRS. He said IRS enforcement funds would run out sometime in fiscal year 2025, and funds for improving services would run out the following year, unless the funding was restored. (Reporting by Andrea Shalal; Editing by Mark Porter)8k8 app1 。

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MGP Ingredients ( NASDAQ:MGPI – Get Free Report ) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $5.55-5.65 for the period, compared to the consensus EPS estimate of $5.58. The company issued revenue guidance of $695-705 million, compared to the consensus revenue estimate of $699.73 million. Wall Street Analyst Weigh In Several brokerages have recently commented on MGPI. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Roth Mkm dropped their target price on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Loop Capital set a $75.00 price target on shares of MGP Ingredients in a research report on Friday, October 18th. TD Cowen cut shares of MGP Ingredients from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $66.00 to $50.00 in a research report on Wednesday, November 6th. Finally, Truist Financial reduced their price objective on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, MGP Ingredients has an average rating of “Moderate Buy” and a consensus target price of $75.83. View Our Latest Report on MGPI MGP Ingredients Stock Down 1.9 % MGP Ingredients ( NASDAQ:MGPI – Get Free Report ) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.02. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The company had revenue of $161.50 million during the quarter, compared to the consensus estimate of $161.55 million. During the same quarter in the prior year, the company posted $1.34 EPS. The firm’s revenue was down 23.7% on a year-over-year basis. Sell-side analysts anticipate that MGP Ingredients will post 5.57 EPS for the current fiscal year. MGP Ingredients Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, November 15th. MGP Ingredients’s dividend payout ratio is 9.98%. Insider Buying and Selling In related news, Director Lori L.S. Mingus sold 7,050 shares of MGP Ingredients stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $46.03, for a total value of $324,511.50. Following the transaction, the director now owns 37,373 shares in the company, valued at $1,720,279.19. This trade represents a 15.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link . 36.20% of the stock is owned by insiders. About MGP Ingredients ( Get Free Report ) MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions. See Also Receive News & Ratings for MGP Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGP Ingredients and related companies with MarketBeat.com's FREE daily email newsletter .'Physical relations' cannot automatically mean sexual assault: Delhi HC

Gus Malzahn is leaving UCF to become Florida State's offensive coordinator, AP source saysThe United States Food and Drug Administration has just approved the first-ever clinical trial that uses CRISPR-Cas13 RNA editing. Its aim is to treat an eye disease called wet age-related macular degeneration that causes vision loss in millions of older people worldwide. This trial marks a new frontier in gene therapy —the process of treating or curing medical conditions by changing a person's genes. What makes it special is the fact the therapy targets RNA, instead of DNA. So, what does that mean, and why should we be excited? What is gene editing and how is it used? Genes are made up of DNA, or deoxyribonucleic acid. Nearly all cells in your body have the same DNA, the material that makes your body uniquely yours. If anything goes wrong in your DNA, it can result in various diseases. Thanks to recent advances, we now have the tools to directly change someone's DNA—this has paved the way for gene editing as a type of gene therapy . It is done using the CRISPR-Cas9 system, which was created after scientists discovered that bacteria defend against invading viruses by capturing their DNA and destroying it. This makes gene editing highly useful when designing new treatments for genetic conditions where you need to correct faulty DNA. Gene editing has already been trialed in people. Earlier this year, a successful clinical trial was done to test the safety of a new gene editing therapy for an inherited eye disease . Gene editing has also been trialed for a heart disorder called transthyretin amyloidosis , as well as blood disorders . Gene editing causes permanent changes to a person's genes, effectively rewriting parts of their DNA. But altering DNA comes with its own challenges and risks . Care must be taken to avoid accidentally causing unintended but permanent changes to DNA elsewhere in the gene, which could lead to unwanted mutations. What is RNA and how does RNA editing work? One way to avoid the risks of editing DNA is to target RNA or ribonucleic acid instead. RNA is also in all our cells, and plays a key role in their functions. One of its jobs is making proteins. If DNA is the set of genetic instructions, RNA is what reads and translates those instructions into making the proteins our cells need. RNA editing, then, is also a type of gene therapy. Its goal is to change how RNA interprets genetic instructions to control how proteins are made. In most recent advancements, RNA editing uses the CRISPR-Cas13 system, a newer technique that was created specifically to help develop therapies that work with RNA. DNA editing is permanent, which is needed to treat genetic diseases. RNA editing events, on the other hand, are transient in nature because RNA molecules are constantly being made and degraded in our cells. RNA editing doesn't permanently change a person's DNA, but rather alters the steps that happen after the RNA molecule "reads" the DNA instructions. This means it can be used to produce more targeted results by, for example, only altering how one specific protein is made. This also makes it a potentially safer option over DNA editing, with fewer unintended effects on other cells. RNA editing also has an advantage where you can potentially control or reverse the therapy, providing a level of control DNA editing can't provide. This is an important factor to prevent over-treatment and makes it a versatile therapy for conditions where faulty DNA isn't the cause of the disease. So what is this first RNA editing trial going to do? Age-related macular degeneration or AMD affects more than 200 million people worldwide and is predicted to grow to 300 million by 2040 . As the name suggests, age plays a role—it almost exclusively affects people older than 55 years . AMD affects the health of the macula, the central part of the retina, which processes what we see. It's a leading cause of irreversible blindness around the world. Wet AMD occurs when there is a build-up of fluid and new, leaky blood vessels underneath the macula, causing rapid and severe impact to a person's central vision. Currently, it's treated with regular drug injections into the eye to control the growth of the leaky blood vessels. The drugs block VEGF , or vascular endothelial growth factor , a molecule that tells our bodies to make new blood vessels. This is where RNA editing comes in. In the lab, scientists have proven that the delivery of the RNA editing therapy via a safe, engineered virus allowed for an effective reduction of VEGF levels to stop new blood vessel growth in the eye through a one-off injection. For treating wet AMD, it would mean no more monthly needles. The FDA-approved clinical trial will now assess the safety of RNA editing therapy for wet AMD. It's also the first-ever clinical stage trial for a CRISPR-Cas13 RNA editing therapy, marking a significant milestone for the field of research. While it's early days for the technology, the new trial shows RNA editing therapies have arrived. It will be yet another powerful tool in humanity's arsenal to develop safe new therapies for various medical conditions. This article is republished from The Conversation under a Creative Commons license. Read the original article .

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