Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
Philadelphia Mayor Cherelle Parker is proposing a $1-per-ride fee on ride-hailing services to send more revenue to schools. Most state and local ride-hailing taxes support transportation-related needs.
Republican state lawmakers dissolved a nonpartisan group that ensured tax dollars were properly spent in February 2021. But with tax revenues flush, it may be time to bring back the division.
The General Assembly will study the two-year budget that includes about 25 percent more spending annually than the current year’s budget, including $2.3 billion on roads and $717 million on bridges.
The town has a backlog of issues that must be addressed in the coming years, like increased service costs and city vehicle replacements. Officials are considering raising taxes by several cents to offset the costs.
By some estimates, the state will have $69 billion of “new money” to spend, but it is still unclear how the funds will be used, if it gets spent at all. This year’s proposed budgets don’t show much deviation from prior years.
The first year of the state’s Climate Action Plan to reduce greenhouse gas emissions to net zero by 2050 was marked by billions being pledged on facilities to help the state meet that goal. But there still is a lot of work to be done.
When he addresses the nation, the president will talk about top-down solutions from Washington. But the real progress on the problems we face is coming from 50 state capitols.
The Sonoma-Marin Area Rail Transit has had a good week. Two major financial wins will give the system millions of dollars to come and its ridership continues to rebound, with two days seeing the highest ridership rates since COVID began.
The pandemic-induced emergency order will end on May 11 and will trigger a variety of changes, including people will likely have to pay more out of pocket for COVID-19 care while Medicaid and CHIP eligibility will be re-evaluated.
The state’s Senate Finance Committee will look at transferring millions in federal COVID-19 funds to the Governor’s Office Gifts, Grants and Donations Fund, which already has more than $17 million.
The program offers companies tax breaks based on the number of employees they hire and where those jobs are located. A report found the program costs more to operate than the tax revenue it generates.
The Wildfire Emergency Act would accelerate forest restoration projects, create a program to maintain critical facilities’ power during disruptions, help low-income households fireproof their homes and establish a fire-training center.
State surpluses are up. So too are appetites for more spending and tax cuts. But inflation has reared its ugly head and the possibility of a recession is very real. Governing sorts out this year's financial picture.
If a congressional debt ceiling deadlock persists and capital markets seize up, states and localities will still have to pay their bills. Public financiers need to be ready to adjust their portfolios to establish a liquid cash buffer.
The Alaska governor introduced two bills that would create a regulatory framework for geologic storage of carbon dioxide and for selling carbon offset credits, and could earn billions for the state. Many details are still unclear.
The state government used more than half a million dollars of its $6.24 billion in COVID relief funds to buy SUVs to transport Gov. Phil Murphy and other officials around the state. Here’s how the rest of the money was spent.
Most Read
