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    Democrats believe they have found the four magic words to accelerate the enactment of President Joe Biden’s agenda: It’s for the children. The expansion of the child tax credit that was part of the $1.9 trillion “American Rescue Plan” Biden signed into law in March, his biggest legislative victory so far, is about to take effect. Checks going out to 90% of parents will become a major part of the Democrats’ messaging as Biden moves to promote other child care and social welfare spending proposals. “You’ll also hear him talk about the fact that, as a former single father, he will stress that his plan is to help boost childcare affordability by building new childcare centers and ensuring that no middle-class family pays more than 7% of their income on high-quality care for children up to age 5,” White House press secretary Jen Psaki told reporters ahead of a Thursday Biden speech on the issue. “He will also note that the Build Back Better plan will invest in the child-caring workforce, provide parents with an up to $8,000 tax credit...
    Help oversee sales tax The deadline to apply for the Measure F Oversight Committee is fast approaching. Voters in November passed the measure, increasing the city’s sales tax from 9% to 9.25% for eight years, with the seven-member committee acting as an advisory body. Committee members can serve a maximum of three three-year terms. They must be Milpitas residents, and it is preferred they have expertise in and/or are advocates for the business and/or residential community; municipal or governmental services operations; and/or municipal finance, taxation, budgeting and/or accounting. The committee is scheduled to meet quarterly beginning in March to advise City Council on projected Measure F revenues and recommended expenditures for the fund; conduct a fiscal year-end review of of programs and services funded; and hear presentations from the city’s independent financial auditor and sales and use tax consultant. Applications can be submitted until Jan. 25. For more information, visit www.ci.milpitas.ca.gov/milpitas/departments/finance/measure-f-oversight. Mental health event The countywide Commission on the Status of Women is holding a fundraiser focused on mental health Jan. 23 at 4 p.m. The virtual event will...
    Republican legislators on Tuesday called for Louisiana to eliminate state income taxes while acknowledging that the chances of doing so anytime soon are slim at best. “We’re going to swing for the fences,” said state Rep. Thomas Pressly, a Shreveport Republican. Rep. Richard Nelson, R-Mandeville, said repealing personal and corporate income taxes would solve two problems at once by making the state more attractive to businesses and residents while dismantling a system in which most of the tax dollars flow through the State Capitol. “We put everything in Baton Rouge, and we all go to Baton Rouge to go fight to get all our money back,” Nelson said. “It’s just not a really great system.” Nelson and Pressly participated in an online questions-and-answers session hosted by the Pelican Institute for Public Policy, which advocates for lower taxes and reduced government spending. He said a better system would let parishes and municipalities fund their own needs through property taxes, which is basically the Texas model. “Revenue-neutral tax reform is really nonpartisan,” Nelson said. A more...
    Colorado marijuana sales have topped $1 billion since the pandemic began, according to figures released this week by the state Department of Revenue. Legal marijuana sales topped $200 million in August for the second month in a row. Counting back to March of this year, when Colorado and the rest of the nation began shutting down over the pandemic, dispensaries have sold over $1.1 billion in marijuana products — and that's not counting sales in September and October, or back in February and January. And that's with prices at a three-year high. Readers had plenty to say about this record-breaking run in their Facebook comments on our story. Says Felicia: Good to see unemployment checks so well used. Adds Ed: No money to pay rent but plenty to purchase pot. Counters Josh: Is this the '50s? The MJ industry supports thousands of jobs and adds millions in tax revenue. And landlords charging 1,200 bucks a month for a studio apartment that adds nothing to the local economy want sympathy for evicting people unemployed...
    Jadeveon Clowney is a nightmare for linemen, so why cant he sack anyone? An investigation. Scary and funny face masks for Halloween Most Americans don't know these lucrative Social Security "secrets" Ad Microsoft Incredible Blanket Puts Humans In A Deep Sleep, Melting Stress Away Ad Microsoft 23 Gadgets That Could Sell Out Before the Holidays Ad Microsoft Full screen 1/51 SLIDES © DenisTangneyJr / Getty Images This year the extended...
    Democratic U.S. presidential nominee and former Vice President Joe Biden delivers remarks regarding the Supreme Court at the National Constitution Center in Philadelphia, Pennsylvania, U.S., September 20, 2020.Mark Makela | Reuters Democratic presidential nominee Joe Biden's plan to increase the capital gains tax could lead to a large-scale sell-off of stocks, according to economic analyses. As part of his $4 trillion tax plan, Biden has proposed increasing the top tax rate for capital gains for the highest earners to 39.6% from the current top rate of 23.8%, the largest real increase in capital gains rates in history. Economic analyses show that capital gains tax hikes cause a burst of stock-selling in advance of the increase, as investors look to lock in the lower existing tax rates before they rise. A research paper by Tim Dowd, a senior economist at the United States Congress Joint Committee on Taxation, and Robert McClelland, a senior fellow at the Urban-Brookings Tax Policy Center, found that the two previous hikes in capital gains taxes both lead to a wave of selling. In 1986, as part...
    BOSTON (CBS) — The 2020 Massachusetts Sales Tax Holiday takes place Saturday, August 29 and Sunday, August 30 this year. It’s a date many shoppers have marked on their calendars as a time to buy big-ticket items without having to pay the state’s 6.25% sales tax. Gov. Charlie Baker said it’s more important than ever this weekend to support small businesses that have been struggling amid the coronavirus pandemic. So what qualifies for the tax exemption? The state says any retail items up to $2,500 that are bought in Massachusetts for personal – not business – use. That includes rental items, as well as purchases made online. There are a number of things that don’t qualify for the exemption this weekend. For example, consumers shouldn’t be surprised to see they’re still being charged a sales tax when going out to eat. Buying a car or boat will also still be taxed no matter how much it costs. And taxes are still in place for alcohol and marijuana purchases in Massachusetts. Below is the full list of retail items that do...
    BOSTON (CBS) — A date has been set for the annual Massachusetts Sales Tax Holiday. The Baker administration announced that the tax-free weekend is scheduled for August 29-30. “The annual sales tax holiday is an opportunity for us to support small businesses and consumers, and this year, it’s a great way to support our economy that’s been impacted by COVID-19,” Gov. Charlie Baker said in a statement. “This pandemic has created enormous challenges for the Commonwealth’s small businesses, and the sales tax-free weekend is one way that we can encourage more economic activity to help Main Street businesses and local economies.” The retail industry has been hit especially hard by the coronavirus pandemic. The unemployment rate for Massachusetts was 16.3% in May. Baker signed a law in 2018 to make an annual sales tax holiday weekend permanent in Massachusetts. Click here for more details about what will qualify for a tax exemption.
    BERLIN (AP) - Germany’s Cabinet has approved a temporary cut in value-added tax starting next month in a bid to boost consumer demand in Europe’s biggest economy, a centerpiece of the country’s 130 billion-euro ($148 billion) stimulus package. The finance minister made clear Friday that he doesn’t foresee a second stimulus program. The main value-added tax rate will be cut to 16% from 19% for six months starting July 1, and the reduced rate applied to groceries and some other everyday items to 5% from 7%. Parliament is expected to give the final go-ahead on June 29. The temporary tax cut was a key and unexpected element of the stimulus package thrashed out in early June by the parties in Chancellor Angela Merkel’s coalition. While generally welcomed, it has generated some fears among businesses that they face a difficult rush to prepare for new prices - and calls for the measure to be extended beyond the end of the year. TOP STORIES Divided Democrats make Biden one of weakest primary winners in modern history Abraham Lincoln monument torched in Chicago:...
    Florida residents can buy hurricane supplies tax-free from today through Thursday, June 4. The tax-free weekend arrives in time for hurricane season in Florida, which begins on June 1. From today until Thursday, people will be able to buy hurricane supplies like flashlights, waterproof sheeting and portable generators without paying tax.Tax-Free Hurricane Supplies in FloridaSelling for $10 or less:Reusable ice (reusable ice packs)Selling for $20 or less:Any portable self-powered light source (powered by battery, solar, hand-crank or gas)CandlesFlashlightsLanternsSelling for $25 or less:Any gas or diesel fuel container, including LP gas and kerosene containersSelling for $30 or less:Batteries, including rechargeable batteries, only these sizes: AAA-cell, AA-cell, C-cell, D-cell, 6-volt, and 9-voltCoolers and ice chests (food storage; nonelectrical)Selling for $50 or less:Bungee cordsGround anchor systemsRadios (powered by battery, solar or hand-crank), two-way, weather bandRatchet strapsTarpaulins (tarps)Tie-down kitsVisqueen, plastic sheeting, plastic drop cloths and other flexible waterproof sheetingSelling for $750 or less:Portable generators used to provide light or communications or to preserve food in the event of a power outage In this satellite image provided by U.S. National Oceanic and Atmospheric Administration (NOAA),...
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