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.
Gov. Charlie Baker signed sports wagering legislation into law on Aug. 10 but its ban on wagers for in-state schools will likely leave money on the table for the state.
Mayor Lori Lightfoot is under an unflattering spotlight for her signature move tying taxes annually to the consumer price index. Meanwhile, the city council is about to receive a huge inflation-linked pay raise.
Financial experts say the Florida governor’s ban on so-called “woke” investment policies that consider “environmental, social and governance” issues may affect pensions for state retirees. But others disagree on the ban’s impact.
The Florida county announced plans on Aug. 30 to distribute a new round of rental assistance starting on Oct. 1. Eligible applicants could receive as much as $20,000 or 18 months of assistance.
The Infrastructure Investment and Jobs Act, which was supported by several state Congress members, allots $8 billion for the expansion of hydrogen use in at least four regional hubs; some argue West Virginia should host one of them.
As with pension fund divestment policies, it’s tempting for states and local governments to blacklist companies over their public policy stances. But it’s the taxpayers who are likely to be the collateral damage losers.
Connecticut gubernatorial candidate Bob Stefanowski criticized Gov. Ned Lamont over the lack of transparency and the increasing costs of the offshore wind redevelopment project in New London.
The Broward County city’s mayor and commissioners voted unanimously on Aug. 23 to give themselves raises, increasing the mayor’s and commissioners’ salaries by 166 percent and 156 percent, respectively.
The Chicago Transit Authority is hoping to finally make good on a promise to expand a subway line to the southern edge of the city. First it needs the City Council to agree to a plan for raising billions of dollars to support the project.
The GO Green Energy Fund provides clean energy investments to low- to moderate-income neighborhoods to combat environmental injustice. Through the Inflation Reduction Act, green banks nationwide will receive $20 billion.
The Maine Technology Asset Fund, a state-funded $45 million business development program, which has produced little public information, helps protect taxpayer investments, experts say.
The public’s relationship with the Census was strained by the unique circumstances surrounding the 2020 count. Robert Santos, the first Latino to direct the Census Bureau, wants to repair this.
Roads and water infrastructure top the list of local priorities, but broadband expansion and clean energy projects are proving popular as cities face increased demand for these newer technologies.
A report from the HHS showed that 44,000 residents would lose state health insurance coverage entirely while 24,000 would lose subsidies if the tax credits were not extended through the legislative package.
If approved, residents would vote on their fourth bond program in less than two decades. The $1 billion program would help pay for better streets and city infrastructure, including $150 million for housing.
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