Joseph Bishop-Henchman of the National Taxpayers Union Foundation discusses the litigation of a provision in the American Rescue Plan Act restricting states from using federal funds provided by the law to offset reductions in net tax revenue. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor
Month: June 2021
Sydney Australia’s Eastern Suburbs—located east of Sydney and extending to the coast—continue to attract interest from buyers worldwide, with an increasing segment coming from the United States. ADVERTISEMENT Once Australia’s strict travel restrictions (currently a 10-day compulsory hotel quarantine when entering Australia) are relaxed Ken Jacobs of Sydney-based Private Property Global expects a boom in
The Centers for Disease Control and Prevention (CDC) headquarters in Atlanta, Georgia. Tami Chappell | Reuters There have been more than 1,200 cases of a rare heart inflammation condition in people who received Pfizer‘s or Moderna’s Covid-19 vaccine, according to a CDC presentation slide published Wednesday ahead of an advisory meeting. The CDC’s Advisory Committee
General view of the NFL Shield logo on the field before Super Bowl LV between the Tampa Bay Buccaneers and the Kansas City Chiefs at Raymond James Stadium. Kim Klement | USA TODAY Sports | Reuters The NFL said Wednesday it is exploring strategic options, including selling stakes, for its NFL Media properties, including NFL
CNBC’s Jim Cramer on Wednesday called on billionaires in the U.S. to more vocally support reforms to the nation’s tax code, in attempt to stave off more-liberal legislative proposals from politicians in Washington. “This administration doesn’t like you, so come up with something proactively that makes it so you are not being taxed in the way [Sen.]
Renter advocacy groups have pressured the administration of President Joe Biden to extend the CDC eviction ban for at least another month. Carlos Barria | Reuters Struggling renters will likely have a little more time before they have to worry about eviction. The Centers for Disease Control and Prevention is expected to extend the national
FREDERIC J. BROWN | AFP | Getty Images Job hunting has been muted in 12 states that opted out of federal unemployment programs in recent weeks, suggesting the policy may not be working as planned, according to a new analysis. The states have ended the pandemic-era benefits — including an extra $300 a week —
While walking through the dark tax forest, are you scared from the noises coming from Washington? Are any taxing animals out there who might be interested in eating things like, um, your income, your assets, your life insurance, and more? Yeah, there are probably taxing lions, and taxing tigers, and taxing bears out there. They
The IRS says exchanges of one type of crypto for another are taxable, even if no cash changes hands. However, what about before January 1, 2018, was it tax free? You didn’t get cash, so there shouldn’t be any income or gain for the IRS to tax, right? If the IRS mines all the crypto
According to every available measure, median home sales prices in the U.S. are at a record high, and they show little signs of cooling off. To some, this brings back memories of the real estate debacle of the 2000s, and they wonder if this bull market will end up, like then, in a big crash.
In this article POSH ThredUp is an online consignment and thrift store. It has struck partnerships with retailers, including Walmart. ThredUP Secondhand apparel has gained popularity among shoppers and now, some want the government to give it a boost. Nearly half of consumers — 44% — think the government should promote a more sustainable approach
The reflection of bitcoins in a computer hard drive. Thomas Trutschel | Photothek via Getty Images Bitcoin continued to rebound from its lows for the year on Wednesday. The cryptocurrency sank below the key $30,000 threshold Tuesday, at one point briefly erasing all its 2021 gains. It later recovered to turn positive for the day.
kate_sept2004 | E+ | Getty Images The IRS on Tuesday started an online tool that will allow families to tell the agency they don’t want to receive advance monthly payments from the enhanced child tax credit, scheduled to start next month. Using the new Child Tax Credit Update Portal, families can verify that they’re eligible
Higher taxes on long-term capital gains now occupy a prime position on the agenda in Washington. There are proposals to increase the top tax rate on investment gains to as high as 39.6% from the current 20%. Taxpayers subject to the net investment income tax pay another 3.8% currently and would continue to pay that
A corporate minimum tax seems all but certain. The G-7 has agreed to support new rules for a global minimum tax rate on company profits and a new way of sharing the revenues from taxing the world’s largest and most profitable companies. The deal would impose a minimum tax of at least 15% and give
The housing crisis is not unique to the United States. Many other countries are experiencing their own form of extreme supply issues, leading to very severe market reactions and unrequited demand. In other crisis situations, the world joined hands. For instance, during the past 18 months, the world came together to develop vaccines to stop
In this article MS A view of the Morgan Stanley offices in Canary Wharf, London, U.K. iStock Editorial | Getty Images Morgan Stanley on Tuesday told its staff that workers and clients who are not vaccinated against Covid-19 will be barred from returning to New York City and Westchester County offices with a large employee
Federal Reserve Chairman Jerome Powell acknowledged Tuesday that some inflation pressures are stronger and more persistent than he had anticipated, though still not on par with some of the worst episodes the U.S. has seen historically. Under questioning from a special House panel, the central bank leader continued to attribute most of the recent inflation
Longtime crypto bull Meltem Demirors reiterated her confidence in the cryptocurrency Tuesday, telling CNBC she believes the correction in bitcoin is simply weeding out the investors with “paper hands.” Paper hands is a term used in the crypto community to characterize people who sell a digital asset such as bitcoin when turbulence strikes markets. It’s
Crypto investor Mike Novogratz told CNBC on Tuesday that bitcoin faces near-term uncertainty after falling below $30,000, but he maintained a long-term positive outlook. Bitcoin has struggled in the past two months, after notching an all-time high in April near $65,000. The weakness in recent days comes as reports indicated China took further steps to
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