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☆ Can Glenn Youngkin Save the G.O.P. from Trumpism? - The New York Times
▼ + stars: | 2023-11-04 | by ( Michelle Cottle | ) www.nytimes.com time to read: +2 min

Glenn Youngkin, who is not on the ballot but is stumping hard for his fellow Republicans. This makes a certain political sense: Joe Biden won this county in 2020, as did Mr. Youngkin’s Democratic rival in 2021. But the fact that Mr. Youngkin is aggressively campaigning in blue areas is not only a sign of his popularity, it differentiates him from Mr. Trump, who largely sticks to safe conservative spaces. Mr. Youngkin’s sales pitch casts the G.O.P. It’s revealing about Mr. Youngkin’s brand of politics, but it’s also about as edgy as the guy gets.

Persons: Glenn Youngkin, Youngkin’s, Donald Trump, Nikki Haley, ”, Liberty ”, Trump, MAGA, Joe Biden, Youngkin, ruddy, —, it’s Organizations: American Legion, Liberty, Republican, Democratic, Virginians, Democrats Locations: Virginia, Middleburg

The National Financial Work Conference, usually held twice a decade, is expected to further fortify leader Xi Jinping’s control of the country’s $61 trillion financial sector. “Overall, the financial sector in China has made progress but at this moment they face challenges,” said Nakao. Last week, Xi reportedly visited the central bank, or People’s Bank of China, a rare step that underscores the party’s consolidation of controls over markets and financial institutions. Country Garden, another major developer, failed last week to meet a deadline to pay interest on a dollar bond. It has adopted measures to support private industries, which provide the lion's share of jobs in China.

Persons: —, Xi Jinping’s, Takehiko Nakao, China’s, ”, Li Keqiang, Li, shakeup, Xi, Lan Fo’an, Evergrande, Hui Ka Yan, Zen Soo Organizations: Financial Work Conference, Asian Development Bank, Central Financial Commission, China Securities Regulatory Commission, People’s Bank of, International Monetary Fund, AP Locations: BANGKOK, Beijing, China's Guangzhou, “, China, People’s Bank of China, Hong Kong, Foshan

☆ Hong Kong is paying new parents $2,500 for having a baby but that won’t even pay a month’s rent
▼ + stars: | 2023-10-26 | by ( Chris Lau | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Hong Kong is to pay new parents more than $2,500 for having a baby in a bid to boost its flagging birth rate, but many residents in the notoriously expensive city say it’s barely enough to cover a month’s rent. In Japan (birth rate 1.3), parents get a monthly allowance of $107 dollars for each newborn until two years of age. For each child between three years old and senior high, parents get $66.7 per month. Hong Kong subsidizes education from kindergarten to senior high, but nursery, the year or two before kindergarten, is not usually covered. “The government should be thinking about how to convince [us] that Hong Kong is conducive to child-raising,” Lau said.

Persons: John Lee Ka, chiu, ” Lee, ”, Ken Lau, Kristy Chan, ” Lau, Kim Yeung, ” Yeung, Paul Yip Siu, Hong, ” Yip, Sze Lai, Sze, Lau, “ Organizations: Hong Kong CNN, Hong, HK, CNN, Midland Realty, fai, University of Hong, Society for Community Organization Locations: Hong Kong, East Asia, Singapore, South Korea, Japan, University of Hong Kong

Here is a preview of the issues involved in the special session and what awaits Republican Gov. WHAT CAUSED THE SPECIAL SESSION? Last month, the North Dakota Supreme Court struck down a major budget bill as unconstitutional. The governor is preparing to detail his priorities for the special session in a State of the State speech Monday. The governor’s executive order included “strategic investments” in tax relief and infrastructure among the purposes for the special session, but no proposals along those lines advanced Friday.

Persons: Doug Burgum, Burgum, Mike Nowatzki, Nowatzki, Theodore Roosevelt, Mike Lefor, David Hogue, Lefor Organizations: N.D, Republican, North Dakota Supreme, of Management, Management, Watford, Burgum Locations: BISMARCK, North Dakota, Bismarck, Israel, Watford City, State, Burgum

ATLANTA (AP) — Georgia's state taxes on gasoline and diesel will be suspended for another month after Gov. The suspension of the taxes, at 31.2 cents per gallon of gasoline and 35 cents per gallon of diesel, had been scheduled to end next Thursday but will now run through at least Nov. 11. Georgia's governor can suspend the collection of taxes during an emergency as long as lawmakers approve it the next time they meet. That was the lowest price among the states and down 37 cents since Kemp suspended the taxes. Pump prices also include a federal tax of 18.4 cents per gallon on gasoline and 24.4 cents per gallon on diesel.

Persons: Brian Kemp, Kemp, we’ll, ” Kemp Organizations: ATLANTA, —, Gov, Republican, General, AAA Locations: Georgia

☆ Mercedes applies for tax relief for projects at two U.S. plants
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Elijah Nouvelage/File Photo Acquire Licensing RightsCompanies Mercedes Benz Group AG FollowBERLIN, Sept 25 (Reuters) - German carmaker Mercedes-Benz (MBGn.DE) has applied for tax breaks for potential projects at two of its U.S. plants under the Inflation Reduction Act (IRA), a company spokesperson said on Monday. "We have decided to participate in the application process for production-related tax relief" under the IRA for the plants in Alabama and South Carolina, according to the spokesperson. A final decision is expected later this year or early next year, Handelsblatt reported. Mercedes did not want to comment on the production plan for the electric GLS. Reporting by Ilona Wissenbach, Writing by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Elijah Nouvelage, Mercedes, Handelsblatt, Ilona Wissenbach, Miranda Murray, Friederike Heine Our Organizations: Benz, REUTERS, Companies Mercedes Benz Group, Thomson Locations: Woodstock , Alabama, U.S, Alabama, South Carolina, United States

☆ Here's what tax pros recommend after the IRS halts processing for small business tax credit
▼ + stars: | 2023-09-18 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Kevin Lamarque | ReutersAs the IRS pauses on processing new claims for a pandemic-era small business tax break, some filers are in limbo as the agency works on further guidance. The IRS on Thursday temporarily halted processing for amended payroll tax returns claiming the so-called employee retention tax credit, or ERC, which was enacted during the Covid-19 pandemic. More from Personal Finance:IRS halts processing of a small business tax breakDoes your business qualify for the employee retention credit? If you claimed the credit and are worried about eligibility, it's an excellent time to review your filing with a qualified tax professional, she said. My blanket advice is always to talk to a qualified tax professional who has filed [ERC claims] before.

Persons: Daniel Werfel, Kevin Lamarque, Danny Werfel, Jennifer Rohen, Craig Hausz, Hausz, There's Organizations: Reuters, IRS, ERC, Finance, CMH, CMH Advisors Locations: Worth, Dallas

☆ Investors glimpse opportunity in Europe's unloved mining shares
▼ + stars: | 2023-09-15 | by ( Samuel Indyk | ) www.reuters.com time to read: +6 min

The metals and mining sector is typically used as a proxy for equity investors in Europe to gain exposure to China, given it is the world's largest commodities consumer, and it has sunk along with China's growth expectations. But Beijing in recent weeks has taken targeted steps towards supporting key pockets of its economy, lifting the mining sector off its 31-month lows. In the last month, the mining index has risen nearly 10% compared with a gain of just 2.5% for the wider STOXX 600. Sweeney says this wide range of measures could be a catalyst for an upturn in the metals and mining sector. "Obviously, the 800-pound gorilla from a primary metal demand perspective is China," Peter Mallin-Jones, mining analyst at UK investment bank Peel Hunt, said.

Persons: Ints, Nathan Sweeney, multiasset, Sweeney, LSEG, Peter Mallin, Peel Hunt, Jones, Daniel Major, Marlborough Investment Management's Sweeney, Samuel Indyk, Amanda Cooper, Elaine Hardcastle Organizations: REUTERS, Equity, Marlborough Investment Management, Miners, London Metal, Morningstar, UBS, Rio Tinto, BHP Group, Major, Marlborough Investment, Thomson Locations: Garpenberg, Sweden, China, LONDON, Europe, Beijing, Singapore, India, Indonesia, Malaysia, Nigeria, United States, Rio, Antofagasta, Rio Tinto, Marlborough

☆ Irish government considering targeted mortgage interest relief scheme - PM
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Sept 15 (Reuters) - Ireland is considering reintroducing tax relief on mortgage interest payments but any scheme is likely to be limited to borrowers hit hardest by rising interest rates, Prime Minister Leo Varadkar said on Friday. The government ended a broader scheme in 2020 that had offered tax relief to borrowers who had taken out mortgages in the lead-up to and aftermath of Ireland's 2008 banking crash. Ministers have come under pressure from opposition politicians to reopen the scheme with each European Central Bank rate hike, most recently on Thursday when policymakers pushed the euro zone's key interest rate to a record high of 4%. Data on Friday from Ireland's central bank showed that the total stock of mortgages in arrears fell 4% quarter-on-quarter in the three months to June. (This story has been refiled to correct photo)Reporting by Padraic Halpin; Editing by Sachin RavikumarOur Standards: The Thomson Reuters Trust Principles.

Persons: Leo Varadkar, Varadkar, Derville Rowland, Padraic Halpin, Sachin Ravikumar Organizations: DUBLIN, Ministers, European Central Bank, Central Bank of Ireland, Thomson Locations: Ireland, Ireland's

☆ Factbox: US offshore wind projects facing inflation headwinds
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +10 min

One megawatt (MW) can power about 1,000 U.S. homes but since wind is an intermittent resource - 1 MW of offshore wind can power about 500 U.S. homes, according to offshore wind developers. SOUTH FORKDenmark's Orsted (ORSTED.CO), the world's largest offshore wind power developer, is building the 132-MW project off Rhode Island and Massachusetts. COMMONWEALTH WINDThe 1,232-MW project off Massachusetts, which was formerly a part of the larger New England Wind project, is also facing potential delays. ATLANTIC SHORES OFFSHORE WIND SOUTHThe joint venture between Shell and French EDF is developing a large offshore wind park off New Jersey. MARWINMaryland's first offshore wind project is expected to start operations in 2025-2026.

Persons: Joe Biden, Kevin Lamarque, Joe Biden's, GW, Lazard, Vineyard, Orsted, Eversource, NYSERDA, Norway's Equinor, Avangrid, MARWIN, Nerijus Adomaitis, Nichola Groom, Scott DiSavino, Marguerita Choy Organizations: Federal, State, White, REUTERS, U.S, U.S . Department of Energy, Reuters, Washington , D.C, U.S . Energy Information Administration, Avangrid, Copenhagen Infrastructure Partners, Public Service Enterprise, Orsted, Eversource Energy, Rhode Island Energy, Dominion Energy, Virginia Beach, Dominion, NYSERDA, COMMONWEALTH, Shell, EDF, US, Italy's Renexia SpA, US Wind, Thomson Locations: Washington , U.S, U.S, New England, New York, Pennsylvania, Washington ,, Spanish, Copenhagen, Rhode Island and Massachusetts, New Jersey, Rhode, Connecticut, Orsted, VIRGINIA, Virginia, York, Long, Montauk, Massachusetts, French, ATLANTIC, Atlantic Shores, Italy's Renexia, Maryland

☆ Three Chinese cities lift house-buying curbs
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

People walk along Nanjing Pedestrian Road, a main shopping area, following the outbreak of the coronavirus disease (COVID-19), in Shanghai, China May 10, 2021. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Sept 10 (Reuters) - At least three major Chinese cities last week removed restrictions on home buying, as the Asian giant gradually rolls back a crackdown on the property sector in a bid to revive its economy. These announcements come on the heels of a series of nationwide support measures for the property sector, including lower mortgage rates for first-time homebuyers. China's debt-riddled property sector accounts for one-quarter of the state's economic activity. It had been on a downward spiral since 2021 when the government moved to stop developers from accumulating debt.

Persons: Aly, Yew Lun, Michael Perry Organizations: REUTERS, Rights, Thomson Locations: Nanjing, Shanghai, China, Rights BEIJING, Dalian, Shenyang, Liaoning, Jiangsu

HONG KONG (AP) — China's exports and imports both fell in August from a year earlier, reflecting tepid global demand that is adding to pressures on its slowing economy. Customs data released Thursday showed exports for August slumped 8.8% to $284.87 billion in the fourth straight month of decline. The total trade surplus fell to $68.36 billion from $80.6 billion in July. China’s imports from Russia, mostly oil and gas, increased 13.3% from a year earlier to $11.52 billion. Exports to the European Union tumbled 10.5% from the same time last year to $41.3 billion, while imports of European goods declined 2.5% to $24.56 billion.

Persons: ” Julian Evans, Pritchard, ”, August's Organizations: —, Federal Reserve, Capital Economics, Kremlin, European Union Locations: HONG KONG, Europe, Asia, U.S, Russia, Ukraine

☆ Factbox: China's measures to shore up a faltering economy, more support expected
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +4 min

- China stepped up measures to boost the country's faltering economy, with top banks paving the way for further cuts in lending rates. Aug. 25 -China's cabinet on Friday approved guidelines for planning and construction of affordable housing at a meeting chaired by Premier Li Qiang. July 24- China's top leaders, at a Politburo meeting, pledged to step up support for the economy, signalling more stimulus steps. July 24 - China's state planner unveiled measures to support private investment in some infrastructure sectors and said it will strengthen financing support for private projects. July 14 - China's cabinet approved guidelines for improving the building of public infrastructure in megacities, to help support the economy and cope with future public health crises.

Persons: Premier Li Qiang, Kevin Yao, Shri Navaratnam Organizations: Premier, Communist Party, Thomson Locations: BEIJING, China, megacities

☆ Take Five: A September to remember?
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. 1/ SCARY SEPTEMBERNow the Federal Reserve's Jackson Hole confab is over, investors are strapping in for a potentially volatile month. Reuters Graphics2/ THE SICK MAN OF EUROPEGermany looks likely to be the only major economy to contract this year. No wonder the region's economic powerhouse is once again being called the sick man of Europe. But economists are sceptical, noting that at just 0.2% of GDP, the package is no game-changer and that the sick man will need more medicine.

Persons: Brendan McDermid, Ira Iosebashvili, Kevin Buckland, Dhara Ranasinghe, Libby George, Naomi Rovnick, Jackson, Jerome Powell, Olaf Scholz, Xi Jinping, Philip Lowe, Michele Bullock, BoE, Amanda Cooper, John Stonestreet Organizations: New York Stock Exchange, REUTERS, Federal, Reuters, ECB, Germany's, Reserve Bank of Australia, Traders, Bank of, British Retail Consortium, Reuters Graphics, Thomson Locations: New York City, U.S, Ira, New York, Tokyo, London, Germany, Europe, Pakistan, Sri Lanka, Ghana, Zambia, Delhi, China, Bullock, Bank of England, Halifax

☆ Argentina offers financial aid to crisis-hit workers and pensioners
▼ + stars: | 2023-08-27 | by ( Eliana Raszewski | ) www.reuters.com time to read: +3 min

Argentine one hundred peso bills are displayed in this picture illustration taken September 3, 2019. Massa said workers will receive 400 billion pesos in loans, while self-employed workers will be offered six months of tax relief and those on food benefits will receive additional stipends. "The goal is that every economic sector receives some state support," Massa said. Meanwhile, tensions have risen and a series of lootings have taken place across the country. ($1 = 350 Argentine pesos)Reporting by Eliana Raszewsi; Writing by Lizbeth Diaz and Sarah Morland; editing by Diane Craft and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Agustin Marcarian, Sergio Massa, Massa, Javier Milei, Patricia Bullrich, Eliana Raszewsi, Lizbeth Diaz, Sarah Morland, Diane Craft, Chris Reese Organizations: REUTERS, Sunday, International Monetary Fund, South, Thomson Locations: BUENOS AIRES

The Ifo institute said on Friday that its business climate index stood at 85.7, down from 87.4 in July. Reuters Graphics"The German economy is not out of the woods yet," Ifo president Clemens Fuest said. The economy then posted zero growth in the second quarter compared to the previous three months, separate data from the statistics office showed on Friday. The Ifo survey showed sentiment among German managers had become more pessimistic across all sectors in August. The Ifo survey chimed with flash PMI data released on Wednesday, which showed that German business activity contracted at the fastest pace for more than three years in August.

Persons: Annegret, Clemens Fuest, Christian Lindner, Klaus Wohlrabe, Claus Niegsch, Niegsch, Andrew Kenningham, Carsten Brzeski, Maria Martinez, Friederike Heine, Mark Potter, John Stonestreet Organizations: REUTERS, Reuters, . Finance, DZ Bank, Reuters Graphics, Capital Economics, Thomson Locations: Berlin, Germany, BERLIN, Europe

☆ Majority of Germans unhappy with Scholz amid fight over spending -survey
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

German Chancellor Olaf Scholz attends the weekly cabinet meeting at the Chancellery in Berlin, Germany August 16, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Aug 18 (Reuters) - A majority of Germans are dissatisfied with the leadership of Chancellor Olaf Scholz for the first time since he took office in 2021, a survey showed on Friday, capping off a week of tension within his three-party coalition over spending. Fifty-one percent of respondents to a survey conducted on behalf of public broadcaster ZDF said they were not happy with the chancellor's work. Despite the survey's findings, Scholz remains the second most popular politician in Germany behind defence minister Boris Pistorius, who has been in pole position for months. Writing by Friederike Heine, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Olaf Scholz, Annegret, Chancellor Olaf Scholz, Scholz's, Scholz, Boris Pistorius, Friederike Heine, Rachel More Organizations: REUTERS, Rights, ZDF, SPD, Greens, Thomson Locations: Berlin, Germany

If you had to shut your business down due to a government order during the pandemic, your company could get a tax credit. Even if your company already filed taxes for 2020 and 2021, it might not be too late to claim the credit. In many instances, a forced business closure could bring some relief in the form of ERC tax credits, so you might want to consider it if it sounds like your business might qualify. That could be useful as a general guideline if your business is considering applying for the ERC. The question, then, is what qualifies as a "recovery startup business."

Persons: It's, it's Organizations: ERC, ERC wouldn't, IRS Locations: here's

☆ US home prices stay near record high, even as sales drop in June
▼ + stars: | 2023-07-20 | by ( Anna Bahney | ) edition.cnn.com time to read: +6 min

Even after falling, June’s median price hit the second-highest monthly median price on record going back to 1999, according to a National Association of Realtors report released Thursday. The median existing home price was $410,200 last month, just 0.9% less than the all-time high from one year ago of $413,800. It marked the fifth month of year-over-year drops in median home sale prices. “Relatively high mortgage rates near 7% and historically low inventory of existing homes on market is hindering sales activity,” said Yun. The pent-up demand will surely be realized soon, especially if mortgage rates and inventory move favorably.”Home prices remain highOne of the reasons home prices remain high is because It’s summer.

Persons: ”, Lawrence Yun, —, Yun, “, “ It’s Organizations: DC CNN, National Association of Realtors, NAR, “, downer Locations: Washington

☆ US startups are having a bad year. Relief isn’t coming
▼ + stars: | 2023-07-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Across the country, in Silicon Valley, the situation isn’t quite as good. For decades Silicon Valley has been a dominant contributor to the US economy and an integral part of the country’s culture. Bankruptcy filings…less so.”Pitchbook and The National Venture Capital Association’s most recent report on the industry also takes a pessimistic view of the situation. What it means: While startups are certainly far from extinct, there has been a serious culling in Silicon Valley that will likely continue on for some time. Just 19% of venture capital deals were made with startups based in the Bay Area this year; that’s down from 22% in 2020.

Persons: haven’t, Tom Loverro, IVP, Pitchbook, ”, dealmakers, Goldman Sachs, Morgan Stanley, they’ll, they’re, Elizabeth Warren, Tesla, Elon Musk, Ramishah Maruf, Elon, “, ” Warren, funneling Tesla, Warren, Gary Gensler, Linda Yaccarino, Musk, CNN’s Justin Gamble, Bill Clinton, Jonah Bryson, “ We’ve, Michael D, Smith Organizations: CNN Business, Bell, New York CNN, Apple, Microsoft, Venture, National Venture Capital, Goldman, Center for Research, Bank, SEC, Twitter, Securities and Exchange, AmeriCorps, CNN Locations: New York, Silicon Valley, Silicon, Massachusetts, America

☆ AmeriCorps recovers record $84 million in tax breaks for low-income taxpayers
▼ + stars: | 2023-07-17 | by ( Justin Gamble | ) edition.cnn.com time to read: +2 min

CNN —AmeriCorps recovered a record $84 million in overlooked deductions, credits and tax breaks for low-income Americans in the 2023 tax season, the federal agency announced Friday. AmeriCorps annually teams up with local non-profits to ensure low-income taxpayers receive all tax breaks and credits for which they are eligible. Last year, the organization recovered about $14 million for taxpayers AmeriCorps spokesman Jonah Bryson told CNN. Atalay Sergi, the Director of the AmeriCorps Seniors program said over 1,890 volunteers joined in the effort to provide tax preparation services. “The volunteers generated more than $69 million in 2022 tax returns, creating a value of $36,721 per AmeriCorps Seniors volunteer,” Sergi said.

Persons: Bill Clinton, Jonah Bryson, “ We’ve, Michael D, Smith, Nathan Davis, ” Davis, Atalay Sergi, ” Sergi Organizations: CNN, AmeriCorps, Mile, AmeriCorps Seniors, Seniors Locations: America, Colorado

☆ UK economy in growth 'doom loop' as business investment slumps versus G7 peers, think tank says
▼ + stars: | 2023-06-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Decades of underinvestment by government and business have left Britain's economy in a growth "doom loop," according to center-left think tank IPPR. Decades of underinvestment by the government and businesses have left Britain's economy in a growth "doom loop," according to the U.K.'s Institute for Public Policy Research. New research from center-left think tank estimates that the U.K. has contributed $500 billion ($638 billion) less to business investments than did other comparable wealthy countries. The IPPR said that U.K. underinvestment in infrastructure, research and development, skills and training had spanned several decades and successive governments, dating back to 2005. "The U.K. is in an investment and growth doom loop.

Persons: Luke Murphy, —, IPPR, George Dibb, pare Organizations: for Public Policy Research, OECD, IMD, CNBC, Conservative Party, International Monetary, Biden, Labour Party —, Tories Locations: Poland, Luxembourg, Greece, IPPR

☆ Opinion | New York Politicians Are Turning Away From the Housing Crisis
▼ + stars: | 2023-06-04 | by ( Mara Gay | ) www.nytimes.com time to read: +2 min

New York needs that plan, known as the Housing Compact, and hopefully Ms. Hochul can resurrect it over the coming year. In the coming days though, Ms. Hochul, Mr. Heastie and Ms. Stewart-Cousins can at least agree to policies that the governor has called “low-hanging fruit,” some of which could be achieved by executive order. Albany can also remove caps on the size of new residential buildings in New York City, paving the way for the higher density projects the city badly needs. New York City’s municipal government can do this, but it needs Mr. Adams’s help. At the Department of Homeless Services, more and better-trained workers are needed to help shelter residents apply for city housing vouchers, an onerous process that should be streamlined.

Persons: isn’t, Carl Heastie, Andrea Stewart, Cousins, Kathy Hochul, Hochul, Heastie, Stewart, Adams, Adams’s, Dave Giffen Organizations: Gov, City Hall, Legal, Department of Homeless Services, Coalition, Homeless Locations: Albany, New York, New York City

☆ Analysis: US debt-ceiling deal dooms Biden's revolutionary tax plans
▼ + stars: | 2023-06-01 | by ( David Lawder | ) www.reuters.com time to read: +6 min

Barring an unlikely Democratic sweep of the White House and both chambers of Congress in 2024, major changes to the U.S. tax code are now seen as largely off the table until the end of 2025, when the 2017 individual tax cuts expire. TAX CHANGES ARE TOUGHBiden's unrealized campaign tax pledges illustrate the political difficulty of changing the U.S. tax code, barring a commanding majority in Congress. "House Republicans have successfully blocked every penny of President Biden’s tax hikes on families, farmers, and small businesses in the debt ceiling deal and protected the 2017 Tax Cuts and Jobs Act from repeal," said U.S. House Ways and Means Chairman Jason Smith. The Missouri Republican added that Americans want Congress to build on the Trump tax cuts "with more tax relief." Republicans will argue for making the 2017 individual tax cuts permanent, said John Gimigliano, KPMG's head of federal tax legislative and regulatory services.

Persons: Joe Biden's, Biden, That's, William McBride, Joe Manchin, Kyrsten Sinema, Jason Smith, Michael Kikukawa, Kikukawa, John Gimigliano, Gimigliano, Steve Rosenthal, Rosenthal, David Lawder, Heather Timmons, Matthew Lewis Organizations: Saturday, Revenue Service, Trump, White, Tax Foundation, Democratic, Republican, Republicans, IRS, House, The, The Missouri Republican, Economic Co, Congressional, Brookings Tax, Center, Thomson Locations: Washington, The Missouri

☆ In New Hampshire, DeSantis Avoids Talking About Florida’s Abortion Ban
▼ + stars: | 2023-06-01 | by ( Nicholas Nehamas | ) www.nytimes.com time to read: +1 min

At a stop on his first trip to New Hampshire as a presidential candidate, Gov. Ron DeSantis mentioned his efforts to provide tax relief for Florida families. But what he did not mention was the six-week abortion ban he signed in Florida this year. The ban — which Mr. DeSantis chose to highlight in his speeches to audiences in socially conservative Iowa this week — is a potential lightning rod for voters in more moderate New Hampshire. One New Hampshire Republican, Bob Kroepel, approached Mr. DeSantis after his speech in Rochester as the governor signed baseballs and took selfies with the crowd.

Persons: Ron DeSantis, DeSantis, Bob Kroepel, baseballs, Kroepel Organizations: Gov, Disney, One New Hampshire Republican Locations: New Hampshire, Florida, Iowa, One, Rochester

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