Taxes
Covering topics such as bonds, cryptocurrency, federal aid and pensions.
Hospitals stand to lose hundreds of millions of dollars under the new tax and spending law, with rural facilities at particular risk. Some states are likely to reconvene their legislatures to deal with funding shortfalls.
For rural communities like St. Helena, the billions the state will receive from the infrastructure bill for Internet and road repairs could have a massive impact. The community sits about 34 percent below the national income average.
Tennessee is projected to collect $655.2 million in the 2022 fiscal year through its gas and diesel taxes. As gas-powered vehicles give way to EVs, the state will need to make up the lost fuel-tax revenue.
CalEnviroScreen maps “disadvantaged communities” by Census tract to determine which communities will receive billions in public and private funding. But the mapping is imperfect, making many communities miss out on funding.
The project will extend the Q line 1.6 miles from its current northern terminus, costing a rate of $3.9 billion per mile. Gov. Hochul has said the money would soon come from Biden’s infrastructure bill.
In responding to the pandemic, state and local governments quickly put in place new program infrastructure to distribute housing aid with flexibility and expediency. We need to build on that for the future.
The state hopes to have as many as 150,000 electric vehicles on the road by 2025, but it still has a long way to go. For some localities, switching municipal vehicles to EVs can signify to residents that the town is serious about reducing emissions.
The new infrastructure bill will give billions to Ohio for highways, bridges, electric vehicle chargers, public transportation and more. Unlike many other Republicans, Portman argues that this bill could help curb inflation.
Gov. Michelle Lujan Grisham has named three officials to oversee the $3.7 billion in federal infrastructure money, which the state will prioritize for broadband, transportation and water system projects.
Johnson County officials are creating programs that will provide direct payments to residents who were unable to receive pandemic relief funds, including undocumented immigrants. Implementation could begin by March 2022.
Investment policy changes at CalPERS, the giant state retirement system, have lowered its earning target by two-tenths of a percentage point, leading to increased charges for local governments and their workers.
State lawmakers nationwide say they’ll be able to invest in longtime priorities next session, thanks to booming tax revenues and federal aid. But Democrats and Republicans are expected to clash over how to spend the money.
The state is slated to receive $3 billion for road and bridge upgrades from the new infrastructure law, with more than $500 million set aside for bridge replacement and repairs.
The Southwestern Pennsylvania Commission has been working with several other organizations to establish a regional clearinghouse for broadband policy development and implementation with federal infrastructure funds.
The federal funding will be used to reduce air pollution and encourage the use of electric vehicles and charging stations, which are crucial to EV growth. The state will add $10.6 million to the funding.
With the passage of the federal infrastructure bill, transportation leaders in Illinois are gaining hope that the high-speed rail project that would connect Chicago to St. Louis can gain momentum.
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