Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
States’ overall fiscal cushions are quickly eroding, leaving states with fewer resources to address widespread current and projected budget imbalances.
After the U.S. Supreme Court stripped federal oversight of millions of acres of wetlands, the financial maintenance of those lands now falls to the states. It could take years for them to address the loss of federal standards, if they do it at all.
The state’s Individual Disaster Assistance Grant Program has paid $227,675 in response to storm damage. FEMA estimated the state’s spring flood damage at $6.3 million. As of Dec. 4, crop insurers had paid out more than $248 million due to drought.
The Solar for All component of the IRA will use $7 billion of federal funds to pay for 60 solar energy projects in disadvantaged communities nationwide. Nearly all states have applied for the infrastructure grants.
New York City schools have received more than $7 billion in federal aid to help students recover academically after the pandemic. But 36 percent of students were still “chronically” absent last year. Those in poverty were gone 45 percent of the year.
Florida was the only state to decline millions in federal funding that could have been put toward reducing tailpipe emissions and the effects of climate change. The state will build roads and bridges instead.
Wealthier, healthier states receive far more than those with fewer taxable resources and less healthy populations. Congress could do a lot to narrow this fairness gap.
The station has enough power to charge four vehicles simultaneously up to 80 percent within 20 to 40 minutes and was funded through the $1.2 trillion infrastructure bill. It is just one of 27 planned across the state.
The proposed bill would charge electric vehicle owners $290 a year to supplement decreased revenue lost from the state’s gas tax. It is estimated the fee would generate as much as $20 million annually for the state.
The federal government promised $23 million to assist with recovery efforts after Hurricane Ida wreaked havoc on 49 schools and nine colleges and universities across the state. Many are still waiting for those funds.
Gov. Gavin Newsom and state legislators this year made budget cuts and deferred spending as a way to address the $31.5 billion spending gap. But, as tax revenues were delayed by winter storms, the gap has grown to $68 billion.
In what seems to be a coordinated effort between the governor, attorney general and secretary of state, six lawsuits challenging voter-approved property tax cuts and increases to teachers’ pensions have been blocked.
Decades ago, highway projects destroyed neighborhoods, uprooting families and businesses. Today’s leaders must seek to rebuild public trust through thoughtful, equitable transportation and land-use decisions.
The city’s Housing Authority received the federal grant to help voucher holders relocate to areas of high opportunity. The DHA estimates that more than 3,500 families are living in non-high-opportunity areas.
High-profile departures of senior-level executives reflect not only an aging workforce and a more politicized operating environment but also salaries and benefits that need to be competitive with the private sector’s.
More than 12,000 state residents who applied or attempted to recertify for the Supplemental Nutrition Assistance Program, commonly known as food stamps, are still awaiting for their benefits to be processed months later.
Most Read
