Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
The exemption applies to profits from stocks, real estate and crypto at an estimated $625 million cost to state revenue.
As costs rise, the economy slows and federal grants decline, Tom Kozlik warns that cities, including Philadelphia, may have to adjust the way they manage their finances to prepare for tough times ahead.
Buffered by relief programs, like stimulus checks, expanded SNAP benefits and Child Tax Credit payments, the state’s supplemental poverty rate decreased to 10.5 percent in 2019-2021.
More than a dozen states allow homeowners to lose not only their houses but also years of mortgage payments if they fail to pay their property taxes. Some lawmakers are hoping to change the rules.
Residents will receive nearly $3 billion in excess revenues next month, with the bottom 20 percent of earners receiving an average credit of just $9; the average rebate amount is about $530.
Advances in wildlife-migration science can help protect people, animals and economies. New federal investment is available to target and build the infrastructure we need.
At least 32 charities that were not registered with the secretary of state’s office received more than $11 million through earmarks over the last two years. Some argue that this highlights a need for earmark reform.
For approximately 3,000 yellow taxi medallion owners, the city will clear thousands of dollars of debt in an effort to revitalize the industry that was devastated by COVID-19. Those eligible have until Friday to enroll in the loan reduction program.
New Jersey lawmakers are fast-tracking a bill that would reform the state’s pension law to tighten criteria under which former government workers convicted of on-the-job misconduct should lose some or all of their pension.
Political groups have spent thousands of dollars to sway voters in their favor for measures 112, 113 and 114. One committee spent more than $1.5 million to get Measure 113 on the ballot and another $24,000 since.
A short-term funding bill from Congress could allot as much as $1 billion to help low-income Americans offset home heating assistance amid rising energy costs. If approved, Connecticut could receive $20 million.
Economic uncertainty, caused by high inflation rates, the COVID-19 pandemic and international crises, at the state and national level has prompted Gavin Newsom to reject several bills in an effort to maintain a cushioned budget.
The president’s forgiveness of student loans aroused plenty of controversy. State and local governments can help craft a more sustainable federal plan that could help to relieve their own workforce shortages and staffing costs.
The State Employees’ Retirement System has sunk to $34.5 billion, a quarterly decrease of 8.5 percent. The system funds more than 70,000 older state and public school retirees with pension payments that haven’t changed since 2004.
A White House fact sheet estimates that 408,700 borrowers across the state are eligible for some form of federal student loan debt forgiveness, 248,900 of whom could get $20,000 wiped. Iowans owe a total of $13.3 billion in student debt.
Washington state has allotted $340 million for the COVID-19 Immigrant Relief Fund, in which eligible people may apply to receive a check or prepaid card of at least $1,000. Applicants will be accepted until Nov. 14.
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