Semiconductor Makers Push Congress for New Funding

American semiconductor giants are pressing Congress to pass legislation that would provide $52 billion for their industry, warning that they may otherwise relocate overseas.

#commerce-department, #computer-chips, #factories-and-manufacturing, #intel-corporation, #micron-technology-inc, #raimondo-gina-m, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

$100 Million Film Studio to Rise From Rubble of Ex-Public Housing Site

Lionsgate Newark will include six large soundstages. It’s being built on the site of one of New Jersey’s first public housing projects.

#baraka-ras, #corporate-taxes, #halmi-robert-jr, #john-schreiber, #labor-and-jobs, #lionsgate, #movies, #murphy-philip-d-1957, #new-jersey, #new-jersey-performing-arts-center, #newark-nj, #public-and-subsidized-housing, #tax-credits-deductions-and-exemptions, #television

To Help Children, Democrats are Going to Have to Reach Across the Aisle

A bipartisan Child Tax Credit expansion may actually be within reach.

#biden-joseph-r-jr, #child-tax-credits-and-stipends, #children-and-childhood, #clinton-hillary-rodham, #collins-susan-m, #democratic-party, #federal-taxes-us, #manchin-joe-iii, #poverty, #republican-party, #romney-mitt, #rubio-marco, #senate, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

How to Save on Your Taxes and Other Last-Minute Tax Tips

You may still be able to reduce your tax bill by contributing to an I.R.A., for instance. And if you have questions, the I.R.S. is offering free walk-in help on Saturday.

#content-type-service, #federal-taxes-us, #income-tax, #individual-retirement-accounts, #internal-revenue-service, #personal-finances, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

Developers Fight to Keep 421a Tax Break Amid N.Y.C. Housing Crisis

Few big residential projects have been built without the break, known as 421a, which now costs the city $1.77 billion in lost tax revenue every year.

#affordable-housing, #building-construction, #condominiums, #furman-center-for-real-estate-and-urban-policy, #new-york-city, #one57-manhattan-ny-apartments, #property-taxes, #real-estate-commercial, #real-estate-and-housing-residential, #renting-and-leasing-real-estate, #tax-credits-deductions-and-exemptions, #tishman-speyer-properties

Developers Fight to Keep 421a Tax Break Amid N.Y.C. Housing Crisis

Few big residential projects have been built without the break, known as 421a, which now costs the city $1.77 billion in lost tax revenue every year.

#affordable-housing, #building-construction, #condominiums, #furman-center-for-real-estate-and-urban-policy, #new-york-city, #one57-manhattan-ny-apartments, #property-taxes, #real-estate-commercial, #real-estate-and-housing-residential, #renting-and-leasing-real-estate, #tax-credits-deductions-and-exemptions, #tishman-speyer-properties

New York Weighs a Gas Tax Holiday, a Popular ‘Bad Idea’

With deadlock on many major issues, a proposal to provide relief to motorists has picked up steam.

#gasoline-tax-us, #hochul-kathleen-c, #new-york-state, #politics-and-government, #rebates-and-refunds, #tax-credits-deductions-and-exemptions, #taxation

Paying Taxes in 2022: What You Need to Know

Did you make money on GameStop? Miss a stimulus payment? Have a student loan forgiven? Let our guide fill you in.

#content-type-service, #federal-taxes-us, #income-tax, #internal-revenue-service, #student-loans, #tax-credits-deductions-and-exemptions, #unemployment-insurance

You Quit Your Job, but You Still Need a Retirement Plan

Millions of American workers said goodbye to their bosses last year. If you’re one, don’t lose sight of your savings and investment goals.

#401k-403b-and-457-plans, #content-type-service, #entrepreneurship, #individual-retirement-accounts, #labor-and-jobs, #personal-finances, #retirement, #savings, #tax-credits-deductions-and-exemptions

Tax Breaks Are Driving a Rush to Buy Property in Puerto Rico

Many Puerto Ricans say they can no longer afford to remain in their homes with outside investors buying up properties and driving up prices.

#affordable-housing, #puerto-rico, #real-estate-and-housing-residential, #tax-credits-deductions-and-exemptions, #virtual-currency

The Rush For a Slice of Paradise In Puerto Rico

Many Puerto Ricans say they can no longer afford to remain in their homes with outside investors buying up properties and driving up prices.

#affordable-housing, #puerto-rico, #real-estate-and-housing-residential, #tax-credits-deductions-and-exemptions, #virtual-currency

‘Build Back Better’ Hit A Wall But Climate Action Could Move Forward

Some Democrats want to forge ahead with a stand-alone climate bill, but their solution could mean abandoning other parts of President Biden’s agenda.

#alternative-and-renewable-energy, #electric-and-hybrid-vehicles, #global-warming, #greenhouse-gas-emissions, #law-and-legislation, #manchin-joe-iii, #markey-edward-j, #politics-and-government, #senate, #solar-energy, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

As Broadway Struggles, Governor Hochul Proposes Expanded Tax Credit

With Omicron complicating Broadway’s return, Gov. Kathy Hochul proposed more assistance for commercial theater, which her budget director called “critical for the economy.”

#broadway-league, #budgets-and-budgeting, #coronavirus-2019-ncov, #empire-state-development-corp, #finances, #hochul-kathleen-c, #new-york-city, #politics-and-government, #tax-credits-deductions-and-exemptions, #theater

N.Y. Attorney General Outlines Pattern of Possible Fraud at Trump Business

The attorney general, Letitia James, released new details of her investigation into whether the company misrepresented the value of its assets, but her office did not file a lawsuit.

#appraisals-and-valuation-property, #attorneys-general, #bragg-alvin, #frauds-and-swindling, #james-letitia, #new-york-state, #suits-and-litigation-civil, #tax-credits-deductions-and-exemptions, #trump-organization, #trump-donald-j, #trump-donald-j-jr, #trump-eric-f-1984, #trump-ivanka

Child Tax Credit’s Extra Help Ends, Just as Covid Surges Anew

A pandemic benefit that many progressives hoped to make permanent has lapsed in a congressional standoff. Researchers say it spared many from poverty.

#american-rescue-plan-2021, #biden-joseph-r-jr, #child-tax-credits-and-stipends, #children-and-childhood, #manchin-joe-iii, #poverty, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

Behind Manchin’s Opposition, a Long History of Fighting Climate Measures

Senator Joe Manchin III noted climate policy when he said he would vote against the Build Back Better Act. In his life and career, West Virginia coal has loomed large.

#alternative-and-renewable-energy, #biden-joseph-r-jr, #coal, #democratic-party, #electric-and-hybrid-vehicles, #energy-and-power, #global-warming, #greenhouse-gas-emissions, #manchin-joe-iii, #mines-and-mining, #natural-gas, #politics-and-government, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #west-virginia

Local News Outlets May Reap $1.7 Billion in Build Back Better Aid

A small paper like The Storm Lake Times in Iowa would receive a big tax credit. So would Gannett, the nation’s largest news publisher.

#cullen-art-journalist, #federal-taxes-us, #gannett-company-inc, #law-and-legislation, #news-and-news-media, #newspapers, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

How Much Does Biden’s Spending Bill Actually Cost?

The climate change and social policy measure that the House just passed includes about $2.2 trillion worth of spending programs and tax cuts. But there are many ways to tally its price tag.

#biden-joseph-r-jr, #federal-budget-us, #law-and-legislation, #tax-credits-deductions-and-exemptions

House Narrowly Passes Biden’s Social Safety Net and Climate Bill

The vote was months in the making for the roughly $2 trillion measure, one of the most consequential bills in decades. Now it faces a difficult path in the Senate.

#american-families-plan-2021, #biden-joseph-r-jr, #child-care, #congressional-budget-office, #corporate-taxes, #democratic-party, #federal-taxes-us, #health-insurance-and-managed-care, #house-of-representatives, #immigration-and-emigration, #law-and-legislation, #mccarthy-kevin-1965, #medicare, #national-debt-us, #pelosi-nancy, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

House Passes the Largest Expenditure on Climate in U.S. History

The $555 billion package is designed to lure the country away from fossil fuels. It faces an uncertain path in the Senate.

#alternative-and-renewable-energy, #biden-joseph-r-jr, #carbon-dioxide, #global-warming, #greenhouse-gas-emissions, #house-of-representatives, #law-and-legislation, #politics-and-government, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

SALT Deduction That Benefits the Rich Divides Democrats

House Democrats are poised to lift a cap on the state and local tax deduction, a gift to wealthy homeowners in some blue states.

#california, #democratic-party, #elections-house-of-representatives, #federal-budget-us, #high-net-worth-individuals, #house-of-representatives, #new-jersey, #new-york-state, #republican-party, #senate, #states-us, #tax-credits-deductions-and-exemptions, #taxation, #united-states-politics-and-government

Cities Try to Lure Factories as U.S. Pushes to Fix Chip Shortage

Many local governments see a silver lining in the shortage of semiconductor chips that has contributed to a slowdown in the global economy.

#adler-steve-1956, #area-planning-and-renewal, #arizona, #austin-tex, #computer-chips, #corporate-taxes, #factories-and-manufacturing, #labor-and-jobs, #local-government, #new-york-state, #samsung-group, #shortages, #tax-credits-deductions-and-exemptions, #texas, #travis-county-tex

From Electric Bikes to ‘Tree Equity,’ Biden’s Social Policy Bill Funds Niche Items

The Build Back Better Act’s marquee provisions have been the focus, but Democrats have swept dozens of obscure measures and special interest breaks into the $1.85 trillion bill.

#bicycles-and-bicycling, #democratic-party, #earmarks-finance, #electric-and-hybrid-vehicles, #house-of-representatives, #law-and-legislation, #midwives-and-doulas, #senate, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

How to Save Money on Your Winter Heating Bills

Start with insulating the attic and turning down the thermostat at night. And there’s always your father’s advice: Wear a sweater.

#content-type-service, #energy-efficiency, #energy-information-administration, #heating, #oil-petroleum-and-gasoline, #personal-finances, #real-estate-and-housing-residential, #tax-credits-deductions-and-exemptions, #thermostats

The ‘Benefits Cliff’ Discourages People From Making More Money

When low-income workers increase their paychecks, they can end up poorer.

#income-tax, #internal-sub-only-nl, #labor-and-jobs, #poverty, #tax-credits-deductions-and-exemptions, #welfare-us

Democrats Push for Agreement on Tax Deduction That Benefits the Rich

Lawmakers are coalescing around a deal to suspend a $10,000 cap on state and local tax deductions that was imposed during the Trump administration.

#american-families-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-budget-us, #high-net-worth-individuals, #income-tax, #law-and-legislation, #new-jersey, #new-york-state, #property-taxes, #tax-credits-deductions-and-exemptions, #taxation, #united-states-politics-and-government

How $2 Trillion in Tax Increases in Biden’s Bill Target Companies and the Rich

The proposal to fund the president’s sprawling spending plan mostly turns up the dial on more conventional tax policies, while trying to curb maneuvers that allow tax avoidance.

#biden-joseph-r-jr, #budgets-and-budgeting, #corporate-taxes, #corporations, #executive-compensation, #federal-budget-us, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #stock-buybacks, #tax-credits-deductions-and-exemptions, #tax-shelters, #treasury-department, #united-states-politics-and-government

How Biden’s $2 Trillion in Tax Increases Target Companies and the Rich

The proposal to fund the president’s sprawling spending plan mostly turns up the dial on more conventional tax policies, while trying to curb maneuvers that allow tax avoidance.

#biden-joseph-r-jr, #budgets-and-budgeting, #corporate-taxes, #corporations, #executive-compensation, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #stock-buybacks, #tax-credits-deductions-and-exemptions, #tax-shelters, #treasury-department, #united-states-politics-and-government

Netflix Eyes New Jersey Army Base for Major Production Hub

The streaming service said it would bid for a nearly 300-acre chunk of Fort Monmouth and it has the support of Gov. Phil Murphy.

#fort-monmouth-nj, #murphy-philip-d-1957, #netflix-inc, #new-jersey, #tax-credits-deductions-and-exemptions, #video-recordings-downloads-and-streaming

From Westerns to ‘Stranger Things,’ Hollywood Is Big Business in New Mexico

Streaming giants like Netflix and NBCUniversal are turning New Mexico into one of the country’s most coveted production hubs.

#movies, #nbcuniversal, #netflix-inc, #new-mexico, #production, #tax-credits-deductions-and-exemptions, #television

In Budget Bill, Democrats Bet the Temporary Will Become Permanent

The authors of the sprawling legislation believe that even if the new programs are temporary, their benefits will become so popular that Congress will keep them. History shows they are probably right.

#american-families-plan-2021, #biden-joseph-r-jr, #child-tax-credits-and-stipends, #democratic-party, #federal-budget-us, #law-and-legislation, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

Joe Manchin’s Choices on Family Policy

How the conservative Democrat should be negotiating with his party.

#biden-joseph-r-jr, #child-care, #child-tax-credits-and-stipends, #democratic-party, #law-and-legislation, #manchin-joe-iii, #parenting, #republican-party, #senate, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

In Your Facebook Feed: Oil Industry Pushback Against Biden Climate Plans

The messages take aim at Democrats by name as part of a broad effort to undermine landmark climate legislation that now hangs in the balance in Congress.

#american-petroleum-institute, #exxon-mobil-corp, #facebook-inc, #federal-taxes-us, #global-warming, #greenhouse-gas-emissions, #houlahan-chrissy, #manchin-joe-iii, #oil-petroleum-and-gasoline, #online-advertising, #political-advertising, #tax-credits-deductions-and-exemptions, #united-states-chamber-of-commerce, #united-states-politics-and-government

What Will It Take for Electric Vehicles to Create Jobs, Not Cut Them?

A report by a liberal think tank tries to quantify the potential employment gains and losses, concluding that subsidies will be crucial.

#economic-policy-institute, #electric-and-hybrid-vehicles, #factories-and-manufacturing, #labor-and-jobs, #law-and-legislation, #organized-labor, #tax-credits-deductions-and-exemptions, #united-states-economy

How Accounting Giants Craft Favorable Tax Rules From Inside Government

Lawyers from top accounting firms do brief stints in the Treasury Department, with the expectation of big raises when they return.

#accounting-and-accountants, #corporate-taxes, #deloitte-touche-tohmatsu-ltd, #ernstyoung, #ethics-and-official-misconduct, #federal-taxes-us, #internal-revenue-service, #kpmg, #lobbying-and-lobbyists, #pricewaterhousecoopers, #regulation-and-deregulation-of-industry, #rsm, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-shelters, #taxation, #treasury-department, #united-states-politics-and-government

Hospitals and Health Care Workers, Overwhelmed by Covid

Burned-out health professionals and overwhelmed hospitals. Also: The child tax credit; counterterrorism; Democrats and taxes; “Medicare for all.”

#brown-sherrod, #child-tax-credits-and-stipends, #children-and-childhood, #coronavirus-2019-ncov, #democratic-party, #federal-taxes-us, #hospitals, #medicare, #parenting, #tax-credits-deductions-and-exemptions, #terrorism, #united-states-politics-and-government, #vaccination-and-immunization

From 4% to 45%: Biden Sets an Ambitious Plan for Solar Energy

The administration has offered only a broad outline of its plan, and many of the details will be decided by congressional lawmakers.

#alternative-and-renewable-energy, #batteries, #biden-joseph-r-jr, #disasters-and-emergencies, #electric-light-and-power, #energy-department, #global-warming, #granholm-jennifer-m, #greenhouse-gas-emissions, #solar-energy, #tax-credits-deductions-and-exemptions, #united-states, #united-states-economy, #united-states-politics-and-government

Child Tax Credit Payments Have Begun. Should You Opt Out?

While the payments in advance of tax season are a welcome relief for many families, there may be reasons for others to decline the money, for now.

#child-tax-credits-and-stipends, #content-type-service, #federal-taxes-us, #income-tax, #internal-revenue-service, #personal-finances, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

It Turns Out That the Era of Big Government Isn’t Over

Joe Biden continues to surprise us. 

#american-jobs-plan-2021, #child-tax-credits-and-stipends, #inflation-economics, #international-olympic-committee, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

In Case Against Trump’s Company, Echoes of His Father’s Tactics on Taxes

The first criminal prosecution involving the former president’s business hearkens back to Fred Trump’s $16,135 purchase of boilers in the 1990s.

#federal-taxes-us, #income-tax, #inheritance-and-estate-taxes, #new-york-state, #tax-credits-deductions-and-exemptions, #tax-evasion, #trump-organization, #trump-tax-returns, #trump-donald-j, #trump-fred-c, #trump-ivanka, #trump-robert-s-1948, #united-states-politics-and-government, #weisselberg-allen

What You Need to Know About the Child Tax Credit

In mid-July, millions of families will get the first of six monthly payments of as much as $300 per child from the U.S. government.

#child-tax-credits-and-stipends, #content-type-service, #federal-taxes-us, #income-tax, #tax-credits-deductions-and-exemptions

Bipartisan Infrastructure Deal Omits Big Climate Measures

Democrats hope to include climate and clean energy in a second bill. It could be Biden’s last chance to pass major global warming legislation.

#air-pollution, #alternative-and-renewable-energy, #biden-joseph-r-jr, #carper-thomas-r, #democratic-party, #electric-and-hybrid-vehicles, #global-warming, #greenhouse-gas-emissions, #infrastructure-public-works, #senate, #tax-credits-deductions-and-exemptions, #wind-power

Biden and Senators Close In on Bipartisan Infrastructure Deal

Lawmakers were set to take a tentative framework to the White House on Thursday. Administration officials signaled the president was prepared to support it, pending final details.

#american-jobs-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-budget-us, #infrastructure-public-works, #republican-party, #senate, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

Infrastructure Bill Talks Collide With Democrats’ Goal to Tax the Rich

Many Democrats see the push for an infrastructure package as an opportunity to raise taxes on rich individuals and corporations. But resistance is coming from multiple directions.

#american-families-plan-2021, #american-jobs-plan-2021, #capital-gains-tax, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #infrastructure-public-works, #sanders-bernard, #senate, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #united-states-politics-and-government, #warren-elizabeth, #wyden-ron

Coming Soon: $300 Checks for Parents

An expanded Child Tax Credit distributed as monthly checks will start reaching households in July and last through the end of the year.

#children-and-childhood, #parenting, #single-parents, #tax-credits-deductions-and-exemptions, #women-and-girls

ProPublica Report Has Congress Rethinking How to Tax Superrich

A report showing that the richest Americans, including Jeff Bezos, Elon Musk and Warren Buffett, pay almost no taxes has refocused attention on the tax code.

#alternative-minimum-tax, #biden-joseph-r-jr, #capital-gains-tax, #corporate-taxes, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #pro-publica, #propublica, #republican-party, #senate-committee-on-finance, #stocks-and-bonds, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-shelters, #taxation, #toomey-patrick-j, #united-states-economy, #united-states-politics-and-government, #warren-elizabeth, #wyden-ron

How Long Should It Take to Give Away Millions?

The promise of philanthropy was that the wealthy could enjoy tax breaks for their charitable contributions. The pandemic laid bare how accumulation can trump getting money to those in need. A Senate bill aims to change that.

#arnold-john-douglas-1974, #bezos-earth-fund, #fidelity-charitable-gift-fund, #grassley-charles-e, #high-net-worth-individuals, #king-angus-jr, #law-and-legislation, #philanthropy, #tax-credits-deductions-and-exemptions

Rich Americans Like Bezos, Musk, Buffett Avoided Income Tax

An analysis by ProPublica based on Internal Revenue Service documents showed billionaires like Jeff Bezos and Elon Musk benefited from vagaries in the tax code.

#corporate-taxes, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation

Dealing With Our Segregated, Jim Crow Education System

The George Floyd case may represent a milestone of progress in criminal justice. But can we expand this recognition of unfairness and inequity to other spheres?

#black-people, #discrimination, #education, #floyd-george-d-2020, #george-floyd-protests-2020, #humphreys-county-miss, #internal-revenue-service, #segregation-and-desegregation, #supreme-court-us, #tax-credits-deductions-and-exemptions

Amazon Paid No Corporate Tax to Luxembourg

The e-commerce giant’s European retail business had record sales in 2020, but its headquarters on the continent reported a $1.4 billion loss.

#amazon-com-inc, #company-reports, #corporate-taxes, #e-commerce, #income-tax, #institute-on-taxation-and-economic-policy, #luxembourg, #politics-and-government, #tax-credits-deductions-and-exemptions, #tax-shelters, #united-states-economy