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CBS News
32 minutes ago
- CBS News
NYC law ending broker fees for renters takes effect today
New York City's new broker fee law takes effect Wednesday, shifting the financial burden of paying brokers from renters to landlords. The Fairness in Apartment Rental Expenses, or FARE, Act was passed by the New York City Council in November and became law in December after Mayor Eric Adams declined to sign the bill. Supporters say the measure will make living in New York more affordable, while real estate groups say the cost will still be passed on to tenants through rent increases. What is a broker fee? A broker fee is a payment made to an agent who helps a prospective tenant find their rental unit. Apartment hunters often pay thousands of dollars in fees before they sign a lease. New York, where 70% of the population rents, was one of the last cities in the country where passing broker fees on to renters was still allowed. Broker fees typically add up to about 12-15% of the annual rent. The fees were not capped under New York law. What is the FARE Act? The FARE Act says the person who hires the broker - which is the landlord in most cases - has to pay them. It bans brokers who represent landlords from charging broker fees to tenants. "What other industry does that exist where someone else orders something, and then someone else has to pay for it?" said City Councilmember Chi Ossé, who sponsored the legislation. On the other side, the Real Estate Board of New York, which represents brokers, previously told CBS News New York that in many cases tenants will see rents go up as a result of the new law. "The landlord is going to have to pay us in some way," broker Janna Raskopf said. "It's just going to be baked into the rent." The Department of Consumer and Worker Protection has proposed fines of up to $2,000 for repeated violations of the law.
Yahoo
35 minutes ago
- Yahoo
'Coward' Elon Musk Mocked On His Own Platform After Bending The Knee To Trump
Elon Musk went into damage-control mode early Wednesday as he tried to mend fences with President Donald Trump after their spectacular falling-out last week. And his critics are mocking his public show of fealty on his own platform. Musk spent some $291 million during the 2024 election cycle, most notably to help Trump, according to and became a constant presence by his side. Once in office, Trump put Musk in charge of the 'DOGE' initiative to cut government spending. But Musk left his role, attacked Trump's signature 'big beautiful bill' as a 'disgusting abomination,' and went scorched-earth against his one-time ally in a series of posts on X last week. Musk wrote that Trump won't release the files of late sex offender Jeffrey Epstein because the president is named in them, shared a post in support of impeaching Trump and replacing him with Vice President JD Vance, and floated the creation of a third political party. Trump in turn threatened repercussions for Musk's businesses and warned him of 'serious consequences' if he backed Democrats for office. But Musk blinked on Wednesday. He wrote that he regretted some of his posts about Trump and said some of them 'went too far.' He also deleted many of those messages. His critics fired back:
Yahoo
36 minutes ago
- Yahoo
Cuts to Medicaid for Ohioans with disabilities could take away home care and job help
(iStock / Getty Images Plus) As the Ohio Senate moves forward with its budget proposal, advocates for Medicaid are hoping changes can be made to avoid significant impacts to low income residents, elderly Ohioans, and people with disabilities. Funding from Medicaid allows 3 million Ohioans access to health care services, including more than 770,000 who receive them through the Medicaid expansion program instituted in 2014. That expansion program allows people who weren't eligible for the traditional Medicaid programs but were still in categories of need to access health care. The existence of that program dropped the uninsured rate in Ohio to historic levels, according to the Health Policy Institute of Ohio. Along with health care, Medicaid dollars help with services that aren't necessarily connected to medical treatment, like home care, employment help, transportation, and a direct care provider who helps with all of those things. 'In many cases, if there wasn't Medicaid dollars behind it, I know of many people whose ability to live outside of a hospital or in the community would be threatened,' said Jules Patalita, a disability rights advocate for Sylvania-based The Ability Center. So advocates were disappointed to see the Ohio Senate maintain a provision from both the Ohio House's and Gov. Mike DeWine's budget proposals that would eliminate the Medicaid expansion group if the federal government reduces their level of support (currently at 90%) by even 1%. 'This would be a substantial loss for many working Ohioans,' said Kathryn Poe, researcher for the think tank Policy Matters Ohio. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX Also included in the Senate's budget proposal is the elimination of a Medicaid waiver that 'would have provided continuous coverage for kids up to age 3,' Poe said, and a separate section of the budget that would 'allow the state to pause, eliminate or change other funds related to all other federal grants, should Congress adjust or eliminate funding for that program.' Poe did praise the Senate proposal for removing a House-submitted provision limiting Medicaid reimbursement for doulas to only six Ohio counties. 'This will ensure that Ohio parents continue to have access to culturally appropriate birthing resources and management,' Poe said. Concerns about loss of access don't just extend to physical health concerns or daily home services, but also to behavioral health services, on which 47% of Ohio adults on Medicaid rely, according to Kerstin Sjoberg, president and CEO of Disability Rights Ohio. 'If you don't have access to some sort of insurance like Medicaid, it's going to be almost impossible to get those services,' Sjoberg said. The state-level discussions come as federal budget reconciliation also touches on Medicaid funding as the Trump administration and Republicans in Congress attempt to slash federal spending by $880 billion over the next decade, particularly from public assistance programs like the Supplemental Nutrition Assistance Program (SNAP) and Medicaid. U.S. House Speaker Mike Johnson and other leaders have talked about 'abuse' or 'fraud' as sources of revenue loss for the country in public programs, something those who engage with users of programs like Medicaid push back on. 'In reality, Medicaid is one of the most cost-effective and widely used safety nets in the country,' said the advocacy group Innovation Ohio in a call-to-action email over the congressional budget proposals. 'If this bill becomes law, the result will be fewer people with health care, more families pushed into poverty and deeper inequality. Rural hospitals could shut down.' According to a study by the Commonwealth Fund, Ohio could be one of the hardest hit economies if Medicaid cuts at the federal level come to fruition, cuts that could mean 29% more Medicaid spending by states or cuts to other programs, like education, to offset the Medicaid losses. One thing that will have to be addressed whether or not the cuts are realized in the state and federal budgets is the workforce that helps those who use Medicaid for home care and other services. Patalita said the word 'crisis' has been used in talking about the shortage of direct care providers, similar to the shortage of child care workers needed to provide adequate access to that service. 'We've talked to people who have had to wait weeks to be able to receive services in the home, because there just aren't enough providers out there,' Patalita said. The Ability Center did a study after the previous state budget increased the reimbursement rate for direct care providers under the state Medicaid program. That study showed that while reimbursements rates and, for that matter, provider wages should go up, the solution to the shortage problem wouldn't come with just one answer. 'The direct care crisis is too complex of an issue for a single action to remedy,' The Ability Center found. The study identified three 'major elements' of the shortage: high turnover rates, low hourly wages (lower than 'many entry level positions in retail and food service,' according to the study), and a lack of consistency in benefits. 'This failure by agencies to provide benefits adds to the worker shortage and forces those requiring home care to carry the burden of decreased access to care, especially those in rural areas,' the study found. Eliminating Medicaid funding, including the expansion group, will make life harder for those Ohioans who need the services, Sjoberg said, 'but it will also make it necessary that the direct care workforce is supported in other ways.' SUPPORT: YOU MAKE OUR WORK POSSIBLE
