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 federal funds provide an opportunity for cities to address and make tangible progress toward addressing the systemic inequities that have lingered for far too long.
Obscure court fees are disproportionately issued to low-income residents of color, who often cannot afford to pay the fines; 86 percent reported that paying for the ticket would impact their ability to pay for food.
The new federal money will go a lot further if communities pursue shared services and cross-jurisdictional solutions. Federal rules should be written to encourage bold regional experimentation.
Researchers from the Colorado School of Mines, Missouri University of Science and Technology and Auburn University will develop construction technology and electronics for long-term colonies on the moon.
The city’s task force is developing short-, mid- and long-term recommendations on how best to address governmental systemic racism and is collecting input from the community on who should be eligible.
The state’s investment in companies in Russia and government debt issued by Russia amounts to $218 million, less than half of 1 percent of the state’s total retirement funds, and has been in decline since 2014.
Legalized online wagering is already hauling in substantial state revenue, but additional taxation will need a uniform, multistate approach that might also take in “gamified” financial trading. And it’s time to do a better accounting of the growing social costs.
The actions taken by the U.S. after Russia’s invasion of Ukraine might also impact some of Michigan’s automotive sector and other major industries with further delays to the already backlogged supply chain.
Thousands of low-income families are only eligible for part of their child support because they also receive public assistance. A new plan would improve the system, but still wouldn’t allow families to have full access to their funds.
Flush with cash, states are able to offer colleges and universities more support than they have in decades. But campuses still face challenges from declining enrollments.
Companies and job seekers have expanded options if workers don’t have to live where they work. But for city governments, this can mean lost tax revenue.
To qualify, seniors must apply to their town annually to prove they have incomes low enough to qualify – a maximum salary of $37,400. But, for many, the requirements and processes are convoluted and difficult to meet.
As of mid-February, none of the state’s $2.5 million allotted for detection and mitigation in prisons, jails and other confinement facilities has yet been spent. More than 1,000 inmates across seven state facilities have gotten COVID-19.
Two proposed bills would open the process for local governments to tax residents in ways that aren’t currently allowed. For now, Kentucky’s cities and counties can only impose property taxes, occupational taxes and fees.
Construction and other industries supported by the new federal infrastructure law face labor shortages. Workforce development systems can help narrow that gap by supporting efforts to bring in women and workers of color.
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