In a bold step reflecting New York City’s complicated economic landscape, Mayor Eric Adams has unveiled a budget proposal set at $114.5 billion for the upcoming fiscal year beginning July 1. This new financial framework seeks to advocate for numerous social services and notable increases in expenditures, totaling over $2.5 billion more than the current
Politics
As the 119th Congress convenes, a critical discourse has emerged within the House Ways and Means Committee regarding the future trajectory of the Tax Cuts and Jobs Act (TCJA). The crux of the debate pits conflicting ideologies against each other: the potential for economic growth under the current tax framework versus the looming threat of
In a significant legal move, the Goldwater Institute has initiated a lawsuit against the town council of Gilbert, Arizona, claiming that the recent tax hikes on essential services are in direct violation of the state constitution. Filed in Maricopa County Superior Court, this case not only underscores ongoing tensions regarding local governance and fiscal policy
The debate surrounding the state and local tax (SALT) deduction continues to simmer as new legislative proposals emerge, reflecting the complexities of tax reform in a divided Washington. With the introduction of a new bill by New York Republican Rep. Mike Lawler, the focus is back on how best to manage the deduction cap that
The landscape of transportation in the United States is undergoing a significant transformation, driven by substantial investments from the federal government. The Department of Transportation (DOT) has embarked on an ambitious plan to disburse billions of dollars in grants, signaling a crucial phase in the evolution of infrastructure under a shifting political and leadership context.
The landscape of air travel in the United States is undergoing a significant transformation, as the U.S. Department of Transportation (DOT) announces an impressive allocation of over $332 million in federal grants dedicated to airport modernization projects across 171 locations in 32 states. This initiative is powered by the Federal Aviation Administration (FAA) and financed
The situation in California has rapidly escalated, as the devastating fires engulfing Los Angeles have drawn immediate attention from state financial leaders and government officials. On the very day that California’s finance director, Joe Stephenshaw, was slated to present Governor Gavin Newsom’s proposed budget of $322.2 billion, the wildfires took precedence, forcing the Governor to
The state of Maryland, despite its AAA credit rating, finds itself confronting a staggering budget shortfall of $3 billion. This alarming deficit is largely attributed to several compounding factors, including sluggish economic growth, escalating Medicaid expenditures, and the cessation of pandemic relief funding. At the helm of addressing this fiscal challenge is Governor Wes Moore,
In a significant shift within the financial landscape, Texas Attorney General Ken Paxton has commended prominent banks such as Bank of America, Morgan Stanley, and JP Morgan for withdrawing from the Net-Zero Banking Alliance (NZBA). This decision comes in the wake of legal reviews initiated by Paxton, which sought to examine the impact of these
California, the most populous state in the United States, has remained a focal point for economic innovation and fiscal management under the stewardship of Governor Gavin Newsom. Recently, Newsom offered a sneak peek of his proposed budget for the fiscal year 2025-26, outlining a balanced budget framework that signals the resilience of the state’s economy