Here’s how business executives and donors are evaluating Gov. Tim Walz of Minnesota, especially on taxes, labor unions, energy policy and more. Gov. Tim Walz of Minnesota has supported a progressive tax policy in his home state, and has won the support of prominent union officials.Erin Schaff/The New York Times Where Harris’s running mate stands … Read more
Gov. Kathy Hochul is pushing a New York City tax hike to replace the $15 congestion pricing tolls she indefinitely postponed — a last-minute funding Hail Mary that drew fierce opposition Thursday. Lawmakers and business groups slammed the prospect of a tax increase, especially after Hochul scuttled congestion pricing Wednesday because it would “break the … Read more
The state of California is implementing policy changes that will impact Hollywood’s creative community who use loan out corporations to manage their business affairs. This change will require Hollywood employers to pay creative talent wages as individuals rather than as fees owed to a business entity. This will result in full income tax withholding and payment of employee and employer taxes on all income earned by the owners of loan-out companies. The change is in line with California’s labor-friendly policy agenda under Governor Gavin Newsom.
The political class in San Francisco has reached a consensus on a proposal to reform the city’s tax code. The proposal includes small tax cuts for large corporations, no taxes for small businesses, and aims to reduce reliance on a few big corporations to fund the city. However, the proposal is seen as incremental and not radical enough by some, with concerns about the temporary nature of the cuts, the risk of concentration among top taxpayers, and the retention of anti-business measures like the Overpaid Executive Gross Receipts Tax. Additionally, the proposal will need to be voted on by citizens in November, adding complexity to the process.
European markets and US futures are trading higher as investors await two important events that will shape trading activity for the rest of the month. The Dow Jones chart shows bulls taking control, while Airbnb’s weak guidance indicates a potential slowdown in economic activity. The Bank of England is under pressure to lower interest rates, and US unemployment claims data could impact the market. Gold prices are influenced by the dollar index and Fed’s monetary policy, while the OPEC cartel’s meeting on June 1 will be crucial for oil prices.