Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
States are expecting flat revenues and increasing costs in this new fiscal year. They’ll face hard choices even if Congress does not cut major aid programs.
The American Rescue Plan Act funds were intended to help local governments and small businesses confront the financial impact of COVID-19, but many officials view the money as an opportunity to invest in future generations.
The bipartisan infrastructure bill appears to transform how the federal government subsidizes broadband infrastructure. But evidence suggests that big companies may not allow the status quo to change without a fight.
Gov. Tate Reeves signed a bill into law this week that will oversee how broadband funding is allocated across the state and help connect more residents. It will be headed by former state Sen. Sally Doty.
It includes investments that will raise health-care workers’ pay, improve their workplace infrastructure and provide incentives that will attract more people to the workforce, according to Gov. Kathy Hochul.
Employees are 15 times more likely to build retirement savings if they have automatic payroll deductions at work, according to AARP. But such plans don't exist for about 55 million American workers.
Government workers are going to press for wage increases that — at a minimum — catch them up to rising prices. Budgeters and labor negotiators need to be careful not to lock in terms that put them in a fiscal squeeze in the future.
The $185 million construction project will be substantially completed by May 31. Hurricane Hanna, the February freeze in 2021 and the COVID-19 pandemic have all impacted the timeline.
The lawsuit, filed by Americans for Prosperity and the Advance Colorado Institute, argues that the new fees, which aim to raise funds for highways, transit systems and EV expansion, violate the state’s Taxpayer’s Bill of Rights.
The ballot initiative would tax residents making more than $2 million a year and use the funds to help the state curb wildfire, smoke and other air pollution. But some say the measure is overkill, given the state’s ambitious climate plans.
A revised version of a $50 million spending bill has once again received approval from the state’s Legislature and will move to the governor’s desk for approval. The bill includes funding for police vehicles, courtroom upgrades and more.
While the language is not a mandate, officials hope that it will set a standard and reaffirm how imminent the climate crisis is. Currently just 1.3 percent of cars on state roads are electric powered.
The city will make available prepaid gas and transit cards, worth $150 each, for as many as 50,000 drivers and $50 for up to 100,000 transit riders. The announcement follows a possible mayoral candidate’s free gas giveaways.
In some states, Uber and Lyft don’t have to pay if passengers are hurt by a hit-and-run. There are moves in a number of states to increase protections for riders and drivers in the case of accidents with uninsured motorists.
As a reprieve from high inflation and gas prices, and to hopefully spur ridership back toward pre-pandemic levels, Connecticut will use $8.1 million of ARPA funds to cover public bus fares for the next three months.
The White House has taken the first step. It’s time for our governments at every level to underwrite a public-private “solidarity bridge” to host many more: up to a million refugees and wartime orphans.
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