Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
The state will need to reform its antiquated tax code, warily approach bond measures that tie the hands of policymakers, and get serious about spending oversight.
In the final hours of the state’s session, the budget proposal passed in a 33-7 vote. The budget compromise would include a $2,550 Permanent Fund dividend and one-time energy relief payments.
While the federal government has paid more than $2 billion to cover the funeral costs of those who died of COVID, fewer than half of families eligible for assistance have started the application process to receive aid.
Eligible households within the program can receive up to $2,500 each month in pandemic-related relief funding for up to 18 months and, so far, about 500 households have reached the cutoff point.
The Florida governor has been a vocal critic of President Joe Biden’s big government spending and yet millions of dollars in federal funding have uplifted the state’s budget, reserves and a variety of job and infrastructure projects.
Boosted by an unprecedented infusion of federal funds, they have an opportunity to bring innovative collaborative efforts to bear on issues of economic inequality and mobility that cross jurisdictional lines.
The mayor announced that he will focus on affordable housing, violence prevention, broadband expansion, lead removal and City Hall upgrades in spending American Recovery Plan Act funds.
Worried that the budget would not have enough votes to pass directly to the governor, the House of Representatives has delayed action. But, if the budget remains unchanged, the $5,500 checks to residents could drain the state’s savings.
In anticipation of the predicted overturn of Roe v. Wade, Gov. Kathy Hochul has directed millions to increase access to safe abortions, particularly for low-income and uninsured women who may be travelling from out of state.
Gov. Charlie Baker has filed a $3.5 billion funding package that includes nearly $970 million for revitalizing downtowns, $1.2 billion on developing climate resiliency and $325 million on workforce initiatives.
Installing broadband in the region is extremely difficult and expensive because of low population density and a rugged topography. But millions in federal funding has some officials hopeful that more residents will get connected.
If autocracy is moving the world toward deglobalization, geopolitical investment principles should complement environmental, social and governance factors. There’s a lot for pension boards and investment managers to keep in mind.
Levies for public transit can win at the polls when taxpayers perceive that a project benefits them. These days, properly designed bus rapid transit systems seem to have better chances than expensive light rail.
Billions of dollars will soon begin to flow to state, local and tribal governments. It should be used in ways that reflect each community's needs, and we need systems of accountability.
County Manager Bonnie Hammersley has proposed raising the property tax by 1.25 cents to 83.12 cents per $100 in assessed property value to fund the $312.3 million proposed budget and to help pay the county’s debt.
A statewide ballot measure, headed by a startup investor and former Google executive, would tax California’s richest residents to pay for public health initiatives to prevent future pandemics.
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