policy

The European Parliament’s achievements through the eyes of the Cypriot MEPs

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The European Parliament’s achievements through the eyes of the Cypriot MEPs

The European Parliament has been instrumental in enacting reforms to enhance the lives of people in Europe, including managing the COVID-19 pandemic by endorsing the Recovery and Resilience Mechanism and contributing to the NextGenerationEU financial plan. Key achievements also include advancements in Green and Digital Transitions, implementing measures for health, welfare, and daily experiences of EU citizens, and supporting young people through initiatives like the European Year of Skills.

The Corporate Rate Cut and Revenues – AAF

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The Corporate Rate Cut and Revenues - AAF

The fact described in the text is that the 21 percent corporation income tax rate, which was implemented as part of the 2017 Tax Cuts and Jobs Act, does not sunset at the end of 2025. Opponents of the TCJA criticize the rate cut from 35 to 21 percent, while some supporters argue that the rate cut “paid for itself.” The graph presented in the text shows a sharp falloff in revenue in 2018 after the rate cut, but revenue in 2022 and 2023 is above the amount projected by the Congressional Budget Office. The text concludes that the corporate rate cut is not a non-starter or a freebie, but rather a trade-off that is central to real tax reform.

UK climate change minister Graham Stuart resigns

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UK climate change minister Graham Stuart resigns

Britain’s climate change minister Graham Stuart resigned from the government after eight years, saying it was the right time to step down.

Cyprus , ‘well below’ EU renewable energy target

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Cyprus , ‘well below’ EU renewable energy target

– Cyprus’ contribution to the EU renewable energy target is below that required by EU legislation.
– The EU Commissioner for the Environment, Oceans, and Fisheries, Virginijus Sinkevicius, stated that Cyprus has taken significant steps towards implementing green reforms and investments.
– There is untapped potential for renewable energy in Cyprus.
– The updated national Recovery and Resilience Plan is important for accelerating the use of renewable energy in Cyprus.
– Sinkevicius highlighted Cyprus’ failures in Natura 2000 areas and the EU’s decision to take the country to the EU Court of Justice.
– He emphasized the need for appropriate measures in areas of conservation.
– Sinkevicius mentioned that environmental protection and development of tourism should not be contradictory goals.
– The EU supports bi-communal cooperation on the environment in Cyprus through technical support, funding, and projects with an environmental footprint that benefit both sides.
– Sinkevicius discussed the EU’s role in preventing wildfires, reforestation policies, air pollution, and dealing with the increase of dust storms in Cyprus.

The federal budget mess – NH Business Review

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The federal budget mess - NH Business Review

The federal budget recently passed has a trillion deficit, which is the same amount as the entire federal national debt 30 years ago.

Opinion: New taxes would be a mistake. Freeland is still likely to hike levies on corporations and the wealthy

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Opinion: New taxes would be a mistake. Freeland is still likely to hike levies on corporations and the wealthy

Chrystia Freeland is likely to raise taxes on the country’s largest companies and wealthiest citizens in the upcoming budget to increase government revenues and pay for new programs.

ECB to discuss new strategy and green policy at Irish retreat

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ECB to discuss new strategy and green policy at Irish retreat

European Central Bank policymakers will discuss green monetary policy and their upcoming strategy review at a retreat in Ireland next month.

Small business owners ask U.S. House tax writers to extend Trump-era deductions • Michigan Advance

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Small business owners ask U.S. House tax writers to extend Trump-era deductions • Michigan Advance

Economists and small business owners are urging U.S. lawmakers to extend or make permanent the Trump-era tax cuts, particularly the deductions that allowed them to reinvest in their operations.

Euro tumbles on firm ECB rate cut bets for June

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Euro tumbles on firm ECB rate cut bets for June

The EURUSD fell to a near five-month low around 1.0660 due to speculation that the European Central Bank will begin reducing interest rates from the June meeting.

Mačiulis: increasing only the corporate tax would not be enough to finance defence needs sustainably

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Mačiulis: increasing only the corporate tax would not be enough to finance defence needs sustainably

– Some political parties are proposing to increase corporation tax, which is popular among some voters
– Corporate tax revenues are volatile, especially during tough business cycles
– Abolishing tax breaks is the easiest way to create sustainable funding for defense
– Increasing VAT and corporate tax by 1% is the simplest way to finance defense
– Lithuania has the lowest debt in the EU and should not be afraid to borrow for defense
– Germany and Estonia are making mistakes with their fiscal policies
– A strong counter-cyclical fiscal policy is needed in Europe
– Different proposals have been made to raise funds for defense, including revising tax rates and increasing corporate tax
– Opposition groups propose introducing a bank wealth tax, issuing defense bonds, and reducing the shadow economy
– Defense funding in Lithuania is currently at 2.75% of GDP, with a goal of reaching 3%
– The 4 Percent initiative aims to allocate 4% of GDP to defense and has support from businesses and organizations.