money

State Rundown 3/28: Tax Cut Madness, But Our Brackets Bet on Tax Fairness

by
State Rundown 3/28: Tax Cut Madness, But Our Brackets Bet on Tax Fairness

– Several high-profile, regressive tax cuts are making their way through state legislatures in Kansas, Missouri, Nebraska, and Vermont.
– In Kansas, the House passed cuts to income, sales, and property taxes, with more than half of the benefits flowing to the state’s top 20 percent of earners.
– Missouri’s House passed a bill to fully eliminate the state’s corporate income tax by 2028, despite its 0 million annual revenue loss.
– Nebraska lawmakers are considering raising the state’s sales tax to fund property tax cuts.
– Vermont’s House Ways and Means Committee approved bills to generate 0 million by taxing wealthy households and corporations.

Judgment day for crypto, ’s golden boy

by
Judgment day for crypto, ’s golden boy

FTX founder Sam Bankman-Fried was found guilty by a jury in New York and sentenced to 25 years in US federal prison for orchestrating a scheme to defraud equity investors in FTX Trading Ltd. He was also ordered to repay billion to customers and investors.

Classic cars rally to raise funds for charity

by
Classic cars rally to raise funds for charity

The Classic Car Federation of Cyprus will hold the 48 Hours Cyprus classic car rally in support of the Cyprus Anti-Cancer Society, sponsored by ExxonMobil/Esso Cyprus. The rally will showcase classic cars from 1958 and non-classic cars can also participate in a separate category. The route will go through the mountainous area of Troodos.

Tennessee lawmakers split on how and why to give businesses major tax help under fear of lawsuit

by
Tennessee lawmakers split on how and why to give businesses major tax help under fear of lawsuit

Republicans in the Tennessee House and Senate are planning to offer businesses new tax help worth over billion. The Senate has passed a proposal that includes .56 billion in one-time refunds for potentially 100,000 businesses and 3 million in annual tax breaks. The House has presented a version that limits tax refunds to 0 million, requires public disclosure of businesses receiving refunds, and sets limits on suing. The debate is complicated by Tennessee’s financial situation and concerns that the state’s franchise tax may violate the U.S. Constitution’s Commerce Clause.

Protesters interrupt Biden, Obama, Clinton at $25 million New York fundraiser

by
Protesters interrupt Biden, Obama, Clinton at $25 million New York fundraiser

President Joe Biden and former President Barack Obama, along with Bill Clinton, headlined a fundraiser in New York that raised over million for Biden’s reelection campaign. The event was interrupted by protesters criticizing Biden’s support for Israel in the Gaza crisis. Obama and Clinton defended Biden’s handling of the crisis and the economy. The event also featured performances by musicians and high-paying attendees had their pictures taken with the presidents. Trump, Biden’s Republican challenger, attended a wake for a slain police officer in Long Island. Biden has been outraising Trump in campaign donations.