Gavin Newsom Suggests National Tax on Billionaires and a Fund for AI Development
California Governor Proposes Public Equity Fund Tied to Billionaire Tax and AI California Governor Gavin Newsom has introduced the idea of establishing a “public equity” fund that would utilize a federal tax on billionaires, alongside advancements in artificial intelligence. In a recent Substack post, he discussed his economic strategy, advocating for a national minimum tax […]
California introduces a new gas tax while other states adapt similarly
Summer Gas Prices on the Rise Due to New Tax Increases As summer heats up, so do gas prices, which are climbing steadily. With the Fourth of July weekend just around the corner, several states are increasing their gas taxes. It’s quite the birthday present for America, isn’t it? Currently, prices at the pump are […]
Arvin City Council puts a 1% sales tax hike on the ballot
Arvin May Introduce Sales Tax Increase Residents of Kern County might see higher prices at stores if voters endorse a proposed 1% sales tax rise this November. This potential increase was unanimously supported by the Kern County City Council last week, paving the way for it to appear on the ballot. Mayor Olivia Calderon has […]
Gas tax increase starts Wednesday as GOP lawmakers call on Newsom to respond
California Gas Tax Increase Looms Starting Wednesday, California drivers will face higher gas prices as a new tax increase takes effect. Some Republican lawmakers in the state argue that this added expense will put additional strain on residents already dealing with some of the highest fuel costs in the U.S. Leading the charge, Representative David […]
NYC issues initial pied-à-terre tax notices to owners of luxury second residences
The Mamdani administration has rolled out the guidelines for the city’s new pied-à-terre tax, with the first notices expected to be sent out in the coming weeks. As reported, the City Finance Department plans to inform owners of numerous luxury secondary residences by August 30th about their tax obligations, according to the latest draft guidelines. […]
Democrats Attempt to Revive Jimmy Carter’s Oil Tax
Democrats Propose Oil Tax Similar to Carter Era A push is underway from Democratic lawmakers to revive a tax targeting oil producers that harks back to the Carter administration. Senator Sheldon Whitehouse of Rhode Island and Representative Ro Khanna from California have reintroduced the Big Oil Windfall Profits Tax Act, as noted in a recent […]
Architect of California billionaires tax makes outrageous assertion
The designer behind California’s debated billionaire tax has expressed concerns that the proposal is pushing wealthy individuals to leave the state. Despite this, SEIU-United Health Care Workers West President Dave Regan dismissed these claims as “totally fabricated,” even as reports suggest an increasing number of billionaires are either departing or mulling over the idea ahead […]
Ro Khanna criticizes Gavin Newsom’s national billionaire tax as hypocritical.
California Governor Gavin Newsom’s backing of a national billionaire tax is facing criticism from fellow Democrats, including Representative Ro Khanna. Khanna supports a state-level version of the tax, which proposes a one-time 5% rate as decided by voters. During a press conference on Friday, Khanna harshly critiqued Newsom for not advocating for the national tax […]
RELLIS Data and Research Center begins anew as Bryan agrees to new tax deal
Bryan City Council Approves Tax Abatement for RELLIS Data Center BRYAN, Texas – After numerous delays, a bankruptcy filing, and two postponed votes, the Bryan City Council recently gave the green light to a tax abatement agreement for the data and research center being constructed on the RELLIS campus. This decision came during a special […]
Indiana legislator suggests replacing property taxes with a new service tax
Indiana Lawmaker Proposes Overhaul of Property Tax System LOUISVILLE, Ky. – Indiana legislators are considering a significant change to the state’s tax structure, aiming to abolish the property tax system completely. In its place, Republican state Rep. J.D. Prescott is promoting a 7% sales tax on various services. Currently, Indiana generates around $10 billion from […]