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New York Post
18-07-2025
- Business
- New York Post
NYNext Guide to: Where the wealthy are moving now
Money talks — and moves. In 2025, 142,000 millionaires around the world are expected to relocate — the largest voluntary transfer of private capital in modern history — per Henley & Partners, a London-based consultancy that tracks global trends in high-net-worth relocation. 17 Scottsdale, AZ., unseated Austin, TX., as the fastest-growing millionaire hub in the US in 2025, according to a Wealth Report conducted by Henley & Partners, a global leader in citizenship by investment. tim – Advertisement Traditional migration paths for the 1% have seen wealthy individuals fleeing high-tax areas like New York and California — which are losing Americans making over $200,000 at the highest rates of any US states — for buzzy locales such as Miami, Monaco and Portugal. But for the rich, a number of new destinations — both in the US and abroad — are gaining ground. '[They're] not just looking for safe bets in proven markets,' real estate appraiser Jonathan Miller told NYNext. 'They're looking to live where they want to live.' Advertisement Here, five locations where high-net worth individuals are increasingly flocking to. Puerto Rico 17 Act 60, Puerto Rico's marquee tax incentive program, offers significant benefits to qualifying individuals and businesses — including a 4% corporate tax rate and 0% federal capital gains — making it a major draw for high-net-worth relocators. othman – The US territory is luring big money with its Resident Tax Incentive Code, known as Act 60. Signed into law in 2019 and recently extended through 2055, Act 60 offers a 4% corporate tax rate and 0% federal capital gains to those who spend 183 days per year on the island. Advertisement 'Ninety-nine percent of my clients are coming here for the tax advantages,' San Juan luxury real estate specialist Christian Kleiner told NY Next. 17 John Paulson, seen here speaking onstage during Angel Ball 2022, was one of the earliest island adopters. Getty Images for Gabrielle's Angel Foundation According to Kleiner, more than 3,500 participants are currently taking advantage of Act 60. Many are in the finance, crypto and tech worlds, including early island adopters John Paulson, manager of the hedge fund Paulson & Co., and Michael Terpin, a digital asset investor. Advertisement The real estate market has surged accordingly. Home values in Puerto Rico rose 11.6% year-over-year in Q1 2025 — outpacing every US state in annual price growth, according to the Federal Housing Finance Agency. One of Puerto Rico's best-known transplants is Phil Shawe, co-CEO of TransPerfect, the world's largest privately held language services provider. 17 Puerto Rico has proven highly attractive to high net worth individuals, particularly from the East Coast. In addition to a plethora of tax incentives, sources told NYNext that the favorable legal climate and the fact that they can remain under US federal law were among the primary reasons they decided to move. dbvirago – Shawe relocated in 2018 after a bruising legal dispute in Delaware, which he says cost a third of the company's value in legal fees. Puerto Rico's favorable legal climate — it's still under US federal law — and a lifestyle shift prompted his move. Shawe and much of his C-suite now live in Condado, just 15 minutes from TransPerfect's headquarters in Hato Rey, San Juan's financial district. 'The infrastructure reminded me more of Florida than I expected,' Shawe told NY Next. Uruguay Advertisement 17 Uruguay's appeal lies in its rare blend of political stability, personal safety and natural beauty — without the natural disaster risks that plague other regions. ricardokuhl – Felipe Silva, a Punta del Este–based advisor with Engel & Völkers told NYNext that the South American country is drawing wealthy folk — particularly those from California and New York — with its business opportunities and safety. 'They want a place with no war risk, no earthquakes, no tsunamis … there aren't many of those left, especially in the Southern Hemisphere,' Silva said. 'They're looking for a place to escape, but at the same time, to invest.' 17 Uruguay's luxury market is booming, with high-end developments in Punta del Este and Montevideo catering to international buyers seeking beachfront living, modern amenities, and long-term value. Courtesy of Engel & Volkers Advertisement Uruguay's fertile soil, vast freshwater resources and per-hectare prices far below US and European norms make agricultural land a popular bet, too. Uruguay offers a 10-year income tax holiday for foreign buyers who spend at least 60 days per year in the country and invest $500,000 or more in real estate. Or, you can invest $2.3 million and no time in the country is required. 17 Uruguay's fertile soil, abundant freshwater and relatively low per-hectare prices have made farmland an increasingly popular asset class for wealthy buyers looking to diversify. Martin Germino/Wirestock – Buying property, Silva noted, is relatively frictionless — with transactions typically wrapping within 30 to 60 days. Advertisement These various advantages have drawn numerous people in recent years, including musicians Shakira and Ronnie Wood, as well as Cipriani CEO Giuseppe Cipriani. 17 Oceanfront property in Uruguay remains remarkably undervalued compared to global luxury markets — with prime beachfront homes often selling for a fraction of what similar properties would command in Miami or Malibu. Michele – Developers have been eager to meet demand. Trump Tower Punta del Este, a 26-story luxury tower that opened in 2024, has listed apartments for upwards of $8 million. Advertisement Down the beach, Cipriani Ocean Resort is marketing a penthouses for $17 million. 17 Luxury developments are booming in Uruguay, with high-end projects like Trump Tower Punta del Este and Cipriani Ocean Resort (pictured above) drawing international buyers with oceanfront penthouses priced up to $17 million. Cipriani Punta del Este/Facebook Silva noted that the lifestyle is hard to beat. 'You have the city, the coast and the countryside all within 15 minutes,' he said. Florida — but not Miami 17 Wellington, known for its world-class equestrian scene, draws ultra-wealthy buyers seeking privacy, land, and proximity to elite polo and riding events. Robert Stevens, courtesy of Qasanova Luxury The rationale for moving to the Sunshine State hasn't changed — zero state income tax, favorable weather and a business-friendly environment — but buyers are increasingly looking beyond the usual suspects like Miami and Palm Beach. 'We're seeing demand spread out a bit,' Jonathan Miller, CEO of real estate appraisal firm Miller Samuel, told NYNext. 'We're now seeing significant [multi-million dollar] transactions in Manalapan and Wellington.' Manalapan, a town of fewer than 500 residents just south of Palm Beach, made headlines in 2022 when Oracle co-founder Larry Ellison purchased a $173 million estate. The sale triggered a new wave of high-end buyers, including hedge funders — Chris Rokos has a $150 million property — musicians and developers. 17 Larry Ellison, pictured here at the Oracle Open World conference in San Francisco, owns a $173 million compound in Manalapan that set Florida's real estate record in 2022. Getty Images 17 Neighboring Ellison's compound, this $285 million mansion will span 54,570 square feet and include everything from a car museum and shooting range to a private bowling alley, golf simulator, and padel court. Courtesy of Holland PR In July 2025, developer Stewart Satter obtained approval to begin construction on a $285 million spec mansion directly adjacent to Ellison's property. If sold at that price, it will become the most expensive home in U.S. history. Wellington, an equestrian community about 20 miles inland, doesn't have ocean views, but the horsey set cares more about being near the showgrounds. Wellington's 12-week winter show circuit, the longest-running in the world, has turned the town into a seasonal hub for the super-rich, drawing Olympic riders, star polo players like Nacho Figueras and horsewoman-heiress such as Jessica Springsteen (daughter of Bruce) and Georgina Bloomberg (daughter of Michael). 17 Georgina Bloomberg participates in the Suncast 1.50m Championship Jumper Classic at the Wellington Equestrian Center on February 23, 2013, in Wellington. Larry Marano Matt Johnson, a luxury broker with 26 years of experience in the market, said many of his buyers tour stables in the area before looking at houses. He noted that the area has had 23 sales over $5 million in the past 18 months alone. 'The luxury market is the equestrian market,' Johnson told NYNext. Scottsdale, Arizona 17 High-net-worth individuals, primarily those from California and Seattle, are flocking to Scottsdale for its land, lifestyle, low taxes and lack of natural disasters. Matt Gush – In 2025, Scottsdale unseated Austin as the fastest-growing millionaire hub in the US, according to a Wealth Report conducted by Henley. The Phoenix suburb saw a 125% surge in millionaire residents from 2014 to 2024, fueled by remote work trends, a thriving tech sector and a flood of Californians — and some Seattleites — in search of lower taxes and peace of mind. Unlike coastal competitors, Arizona has no earthquakes, no hurricanes, and — compared to Florida — more forgiving winters. It also boasts something high-end buyers increasingly crave: land. '[They want] acreage, uninterrupted views, new builds, guest houses, pickleball courts, pools,' Scottsdale's preeminent luxury broker, Kelly Jones, told NYNext. 17 Arizona's flat 2.5% income tax — one of the lowest in the country — has become a major draw for wealthy individuals seeking financial efficiency and simplicity. BCFC – From a financial and legal perspective, Arizona's appeal begins with a flat 2.5% income tax — adopted in 2023, and still among the lowest in the country — and ends with favorable estate-planning laws. Moreover, friendly business regulations have streamlined everything from corporate formation to trust structuring to legal investments. High‑profile residents in Scottsdale and its surrounding suburbs reportedly include retired Phoenix Suns star Charles Barkley, retired race car driver Danica Patrick, actors Emma Stone and David Spade and GoDaddy founder Bob Parsons, who also owns the Scottsdale National Golf Club. All together, Scottsdale now hosts about 14,800 millionaires, 64 centi‑millionaires and five billionaires, per Henley. 'We continue to surprise ourselves,' Jones said. This story is part of NYNext, an indispensable insider insight into the innovations, moonshots and political chess moves that matter most to NYC's power players (and those who aspire to be). Milan, Italy 17 Milan is Italy's financial capital and one of the most cosmopolitan cities in Europe, offering international schools, luxury shopping and proximity to the Alps and lakes. Kavalenkava – The city is quickly transforming from the wealthiest in Italy to one of the wealthiest in continental Europea, predominantly because of Italy's special tax regime. Introduced in 2017, it's been dubbed the 'CR7 rule' after footballer Cristiano Ronaldo. He was one of the first to take advantage of the policy, which allows non-domiciled residents to pay a flat tax of no more than €200,000 (about $233,000) annually on all foreign-generated income. More recently, the rule has attracted prominent financiers like Elio Leoni-Sceti, founder of venture capital fund The Craftory; Bart Becht, former CEO of Reckitt Benckiser; Richard Gnodde, Goldman Sachs' investment banking vice chair; and Nassef Sawiris, Egyptian investor scion and billionaire. 17 Milan has become Europe's newest wealth magnet thanks to Italy's 'CR7 rule,' a 2017 tax policy — named for footballer Cristiano Ronaldo — that lets non-domiciled residents pay a flat tax of no more than €200,000 annually on all foreign-generated income. Getty Images 'Milan is a financial center with international schools and classy shopping precincts,' Dominic Lawrance — a partner at the London-based law firm Charles Russell Speechlys, which recently opened an office in Milan — told NYNext. 'The city is, by Italian standards, highly cosmopolitan.' Many making the move hail from London — which experienced a 12% decline in millionaire growth from 2014 to 2024 per Henley. Only Moscow saw a greater decline. 'Italy has benefited greatly from ill-judged tax reforms in the UK, which have had the unintended effect of driving away wealthy, mobile individuals,' Lawrance said. The Milanese even have a name for this migration: 'svuota Londra' or 'empty London.' Send NYNext a tip:nynextlydia@
New York Post
18-07-2025
- Business
- New York Post
Where the wealthy are moving now
Money talks — and moves. In 2025, 142,000 millionaires around the world are expected to relocate — the largest voluntary transfer of private capital in modern history — per Henley & Partners, a London-based consultancy that tracks global trends in high-net-worth relocation. 17 Scottsdale, AZ., unseated Austin, TX., as the fastest-growing millionaire hub in the US in 2025, according to a Wealth Report conducted by Henley & Partners, a global leader in citizenship by investment. tim – Advertisement Traditional migration paths for the 1% have seen wealthy individuals fleeing high-tax areas like New York and California — which are losing Americans making over $200,000 at the highest rates of any US states — for buzzy locales such as Miami, Monaco and Portugal. But for the rich, a number of new destinations — both in the US and abroad — are gaining ground. '[They're] not just looking for safe bets in proven markets,' real estate appraiser Jonathan Miller told NYNext. 'They're looking to live where they want to live.' Advertisement Here, five locations where high-net worth individuals are increasingly flocking to. Puerto Rico 17 Act 60, Puerto Rico's marquee tax incentive program, offers significant benefits to qualifying individuals and businesses — including a 4% corporate tax rate and 0% federal capital gains — making it a major draw for high-net-worth relocators. othman – The US territory is luring big money with its Resident Tax Incentive Code, known as Act 60. Signed into law in 2019 and recently extended through 2055, Act 60 offers a 4% corporate tax rate and 0% federal capital gains to those who spend 183 days per year on the island. Advertisement 'Ninety-nine percent of my clients are coming here for the tax advantages,' San Juan luxury real estate specialist Christian Kleiner told NY Next. 17 John Paulson, seen here speaking onstage during Angel Ball 2022, was one of the earliest island adopters. Getty Images for Gabrielle's Angel Foundation According to Kleiner, more than 3,500 participants are currently taking advantage of Act 60. Many are in the finance, crypto and tech worlds, including early island adopters John Paulson, manager of the hedge fund Paulson & Co., and Michael Terpin, a digital asset investor. Advertisement The real estate market has surged accordingly. Home values in Puerto Rico rose 11.6% year-over-year in Q1 2025 — outpacing every US state in annual price growth, according to the Federal Housing Finance Agency. One of Puerto Rico's best-known transplants is Phil Shawe, co-CEO of TransPerfect, the world's largest privately held language services provider. 17 Puerto Rico has proven highly attractive to high net worth individuals, particularly from the East Coast. In addition to a plethora of tax incentives, sources told NYNext that the favorable legal climate and the fact that they can remain under US federal law were among the primary reasons they decided to move. dbvirago – Shawe relocated in 2018 after a bruising legal dispute in Delaware, which he says cost a third of the company's value in legal fees. Puerto Rico's favorable legal climate — it's still under US federal law — and a lifestyle shift prompted his move. Shawe and much of his C-suite now live in Condado, just 15 minutes from TransPerfect's headquarters in Hato Rey, San Juan's financial district. 'The infrastructure reminded me more of Florida than I expected,' Shawe told NY Next. Uruguay Advertisement 17 Uruguay's appeal lies in its rare blend of political stability, personal safety and natural beauty — without the natural disaster risks that plague other regions. ricardokuhl – Felipe Silva, a Punta del Este–based advisor with Engel & Völkers told NYNext that the South American country is drawing wealthy folk — particularly those from California and New York — with its business opportunities and safety. 'They want a place with no war risk, no earthquakes, no tsunamis … there aren't many of those left, especially in the Southern Hemisphere,' Silva said. 'They're looking for a place to escape, but at the same time, to invest.' 17 Uruguay's luxury market is booming, with high-end developments in Punta del Este and Montevideo catering to international buyers seeking beachfront living, modern amenities, and long-term value. Courtesy of Engel & Volkers Advertisement Uruguay's fertile soil, vast freshwater resources and per-hectare prices far below US and European norms make agricultural land a popular bet, too. Uruguay offers a 10-year income tax holiday for foreign buyers who spend at least 60 days per year in the country and invest $500,000 or more in real estate. Or, you can invest $2.3 million and no time in the country is required. 17 Uruguay's fertile soil, abundant freshwater and relatively low per-hectare prices have made farmland an increasingly popular asset class for wealthy buyers looking to diversify. Martin Germino/Wirestock – Buying property, Silva noted, is relatively frictionless — with transactions typically wrapping within 30 to 60 days. Advertisement These various advantages have drawn numerous people in recent years, including musicians Shakira and Ronnie Wood, as well as Cipriani CEO Giuseppe Cipriani. 17 Oceanfront property in Uruguay remains remarkably undervalued compared to global luxury markets — with prime beachfront homes often selling for a fraction of what similar properties would command in Miami or Malibu. Michele – Developers have been eager to meet demand. Trump Tower Punta del Este, a 26-story luxury tower that opened in 2024, has listed apartments for upwards of $8 million. Advertisement Down the beach, Cipriani Ocean Resort is marketing a penthouses for $17 million. 17 Luxury developments are booming in Uruguay, with high-end projects like Trump Tower Punta del Este and Cipriani Ocean Resort (pictured above) drawing international buyers with oceanfront penthouses priced up to $17 million. Cipriani Punta del Este/Facebook Silva noted that the lifestyle is hard to beat. 'You have the city, the coast and the countryside all within 15 minutes,' he said. Florida — but not Miami 17 Wellington, known for its world-class equestrian scene, draws ultra-wealthy buyers seeking privacy, land, and proximity to elite polo and riding events. Robert Stevens, courtesy of Qasanova Luxury The rationale for moving to the Sunshine State hasn't changed — zero state income tax, favorable weather and a business-friendly environment — but buyers are increasingly looking beyond the usual suspects like Miami and Palm Beach. 'We're seeing demand spread out a bit,' Jonathan Miller, CEO of real estate appraisal firm Miller Samuel, told NYNext. 'We're now seeing significant [multi-million dollar] transactions in Manalapan and Wellington.' Manalapan, a town of fewer than 500 residents just south of Palm Beach, made headlines in 2022 when Oracle co-founder Larry Ellison purchased a $173 million estate. The sale triggered a new wave of high-end buyers, including hedge funders — Chris Rokos has a $150 million property — musicians and developers. 17 Larry Ellison, pictured here at the Oracle Open World conference in San Francisco, owns a $173 million compound in Manalapan that set Florida's real estate record in 2022. Getty Images 17 Neighboring Ellison's compound, this $285 million mansion will span 54,570 square feet and include everything from a car museum and shooting range to a private bowling alley, golf simulator, and padel court. Courtesy of Holland PR In July 2025, developer Stewart Satter obtained approval to begin construction on a $285 million spec mansion directly adjacent to Ellison's property. If sold at that price, it will become the most expensive home in U.S. history. Wellington, an equestrian community about 20 miles inland, doesn't have ocean views, but the horsey set cares more about being near the showgrounds. Wellington's 12-week winter show circuit, the longest-running in the world, has turned the town into a seasonal hub for the super-rich, drawing Olympic riders, star polo players like Nacho Figueras and horsewoman-heiress such as Jessica Springsteen (daughter of Bruce) and Georgina Bloomberg (daughter of Michael). 17 Georgina Bloomberg participates in the Suncast 1.50m Championship Jumper Classic at the Wellington Equestrian Center on February 23, 2013, in Wellington. Larry Marano Matt Johnson, a luxury broker with 26 years of experience in the market, said many of his buyers tour stables in the area before looking at houses. He noted that the area has had 23 sales over $5 million in the past 18 months alone. 'The luxury market is the equestrian market,' Johnson told NYNext. Scottsdale, Arizona 17 High-net-worth individuals, primarily those from California and Seattle, are flocking to Scottsdale for its land, lifestyle, low taxes and lack of natural disasters. Matt Gush – In 2025, Scottsdale unseated Austin as the fastest-growing millionaire hub in the US, according to a Wealth Report conducted by Henley. The Phoenix suburb saw a 125% surge in millionaire residents from 2014 to 2024, fueled by remote work trends, a thriving tech sector and a flood of Californians — and some Seattleites — in search of lower taxes and peace of mind. Unlike coastal competitors, Arizona has no earthquakes, no hurricanes, and — compared to Florida — more forgiving winters. It also boasts something high-end buyers increasingly crave: land. '[They want] acreage, uninterrupted views, new builds, guest houses, pickleball courts, pools,' Scottsdale's preeminent luxury broker, Kelly Jones, told NYNext. 17 Arizona's flat 2.5% income tax — one of the lowest in the country — has become a major draw for wealthy individuals seeking financial efficiency and simplicity. BCFC – From a financial and legal perspective, Arizona's appeal begins with a flat 2.5% income tax — adopted in 2023, and still among the lowest in the country — and ends with favorable estate-planning laws. Moreover, friendly business regulations have streamlined everything from corporate formation to trust structuring to legal investments. High‑profile residents in Scottsdale and its surrounding suburbs reportedly include retired Phoenix Suns star Charles Barkley, retired race car driver Danica Patrick, actors Emma Stone and David Spade and GoDaddy founder Bob Parsons, who also owns the Scottsdale National Golf Club. All together, Scottsdale now hosts about 14,800 millionaires, 64 centi‑millionaires and five billionaires, per Henley. 'We continue to surprise ourselves,' Jones said. This story is part of NYNext, an indispensable insider insight into the innovations, moonshots and political chess moves that matter most to NYC's power players (and those who aspire to be). Milan, Italy 17 Milan is Italy's financial capital and one of the most cosmopolitan cities in Europe, offering international schools, luxury shopping and proximity to the Alps and lakes. Kavalenkava – The city is quickly transforming from the wealthiest in Italy to one of the wealthiest in continental Europea, predominantly because of Italy's special tax regime. Introduced in 2017, it's been dubbed the 'CR7 rule' after footballer Cristiano Ronaldo. He was one of the first to take advantage of the policy, which allows non-domiciled residents to pay a flat tax of no more than €200,000 (about $233,000) annually on all foreign-generated income. More recently, the rule has attracted prominent financiers like Elio Leoni-Sceti, founder of venture capital fund The Craftory; Bart Becht, former CEO of Reckitt Benckiser; Richard Gnodde, Goldman Sachs' investment banking vice chair; and Nassef Sawiris, Egyptian investor scion and billionaire. 17 Milan has become Europe's newest wealth magnet thanks to Italy's 'CR7 rule,' a 2017 tax policy — named for footballer Cristiano Ronaldo — that lets non-domiciled residents pay a flat tax of no more than €200,000 annually on all foreign-generated income. Getty Images 'Milan is a financial center with international schools and classy shopping precincts,' Dominic Lawrance — a partner at the London-based law firm Charles Russell Speechlys, which recently opened an office in Milan — told NYNext. 'The city is, by Italian standards, highly cosmopolitan.' Many making the move hail from London — which experienced a 12% decline in millionaire growth from 2014 to 2024 per Henley. Only Moscow saw a greater decline. 'Italy has benefited greatly from ill-judged tax reforms in the UK, which have had the unintended effect of driving away wealthy, mobile individuals,' Lawrance said. The Milanese even have a name for this migration: 'svuota Londra' or 'empty London.' Send NYNext a tip:nynextlydia@
Time of India
18-06-2025
- Politics
- Time of India
Why Vermont's education bill could set a precedent for school reform across the US
How Vermont's landmark education bill may set a new standard for US schools Vermont has recently passed a landmark education reform bill that many see as one of the most significant overhauls of the state's public education system in decades. The 155-page legislation, known as H. 454, was approved despite fierce dissent from many Democrats, educators, and local communities. With its ambitious goals to reshape school funding and governance, this bill could influence education reform efforts beyond Vermont and across the US. The bill primarily aims to transition Vermont's K-12 school funding to a foundation formula, where the state rather than local voters controls the majority of school spending. It also mandates wide-scale school district consolidation, requiring districts to have at least 4,000 students. This approach, its supporters argue, will stabilize property taxes, direct funds to where they are most needed, and create a more efficient governance system. Reshaping education funding and governance At the heart of H. 454 is the shift to a foundation formula, which distributes a per-pupil grant from the state to school districts, replacing the current system where local property taxes play a dominant role. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like What She Did Mid-Air Left Passengers Speechless medalmerit Learn More Undo This change aims to reduce inequalities in funding between wealthy and poorer communities, a longstanding issue in Vermont's education system. As reported by the Vermont Public, Rep. Emilie Kornheiser described the reform as a necessary successor to Act 60, a landmark 1997 law that initially improved fairness in education funding and taxation. However, Kornheiser explained, "Today, in 2025, schools and communities across the state are at levels of inequality of opportunity and taxation that are on par with our state before Brigham," referring to the state Supreme Court decision that led to Act 60. "This is unacceptable, and that is why we are here today." The bill also includes provisions to consolidate school districts, which has drawn significant concern from rural communities worried about losing local control and potential school closures. Minimum class sizes and larger district requirements could force many small schools to merge or shut down. Balancing reform with local concerns and political challenges Despite its transformative goals, H. 454 faces major hurdles before full implementation. The bill contains "off-ramps," including a requirement that lawmakers approve new school district maps before other reforms take effect. This redistricting must occur by 2028, and the process is expected to be highly controversial, especially since it coincides with the 2026 election cycle. The legislation passed the Senate with a 17-12 vote and saw bipartisan support, although more Republicans backed the bill than Democrats. In the House, the bill passed by voice vote, with a later roll call showing 96 in favor and 45 opposed. This mixed support reflects the complexity and divisiveness of the reform. Educators and school leaders, represented by groups like the Vermont-NEA and the Rural School Community Alliance, have voiced strong opposition. They argue the bill was rushed, lacks clarity, and does not address key cost drivers such as healthcare. Michael Clark, superintendent of the Orange Southwest School District, warned in an open letter quoted by the Vermont Public that the bill "appears to be barreling toward a crash landing, one that could have lasting consequences for Vermont's children, communities, and public schools. " Potential impacts on taxpayers and school funding The financial implications of the reform remain uncertain, with preliminary analyses raising alarm about possible tax increases in communities resistant to higher taxes. Lawmakers have promised that taxpayers will ultimately be held harmless, and the formula included in the bill is a placeholder pending further studies on special education, career and technical education, and secondary schools. One key revenue proposal in the bill is a new property tax classification that would allow increased taxes on second homes. This measure is designed to offset the tax burden on primary residences but depends on the successful passage of the new district maps and the foundation formula. Implications for public and private schools T he bill also addresses the contentious issue of private school vouchers. While some provisions that could have severely restricted public funding for private schools were removed, the final legislation still limits voucher use. Families can no longer use vouchers for out-of-state private schools or private schools located in districts with public alternatives. Rep. Laura Sibilia acknowledged opposition from those defending private school interests but called the bill "an improvement on the status quo," as quoted by the Vermont Public. She urged lawmakers to consider "who stands to benefit if we do nothing," implying that reform is necessary despite resistance. A model for US education reform? Vermont's comprehensive approach to tackling funding inequities and governance challenges is drawing attention as a potential model for other states grappling with similar issues. The success or failure of H. 454 could set important precedents for how states address educational funding disparities, school district consolidation, and the role of private schools in publicly funded education. As the bill moves toward implementation, many across the US will be watching Vermont closely to see whether this bold experiment can deliver on its promise to create a fairer, more sustainable public education system for all students. Is your child ready for the careers of tomorrow? Enroll now and take advantage of our early bird offer! Spaces are limited.
Yahoo
21-05-2025
- Business
- Yahoo
Mounir Kabche Leads the Charge in Sustainable Innovation Across Latin America and the Caribbean
Mounir Kabche continues to make waves in Latin America and the Caribbean with groundbreaking initiatives. New York, NY , May 21, 2025 (GLOBE NEWSWIRE) -- Visionary investor, entrepreneur, and strategist Mounir Kabche continues to make waves in Latin America and the Caribbean with groundbreaking initiatives that blend financial acumen, clean energy, manufacturing innovation, and a deep commitment to sustainable development. With over 20 years of experience across four major sectors—finance, energy, manufacturing, and real estate—Kabche's leadership is reshaping the region's industrial and environmental landscape. Mounir Kabche Currently based in Puerto Rico under the Act 60 incentive regime, Kabche has become a prominent force in advancing energy self-sufficiency and revitalizing obsolete infrastructure. His work spans several high-impact companies and projects, all aimed at fostering economic growth, energy resilience, and regional transformation. Kabche is the Managing Partner of Conexsol PR, a company specializing in custom solar solutions for industrial, commercial, and residential markets. Conexsol's flagship project in Humacao is converting unused industrial spaces into a regional solar energy hub—paving the way for cleaner power and job creation in Puerto Rico. As Chairman of SolarGrid Dynamics, he focuses on the integration of advanced energy systems that promote automation, operational efficiency, and smart resource use. Additionally, as President of InnovateTech, a Puerto Rico-based manufacturer of agricultural technologies, Kabche leads efforts to modernize agriculture with next-generation inputs such as hydroponic equipment and eco-friendly growing media. This initiative supports sustainable farming while boosting productivity across the Caribbean. Kabche's strategic influence extends to the financial sector, where he has played a key role in the restructuring of Banco Caroní, implementing modernization strategies that have strengthened the institution's market position in Venezuela. 'Purposeful innovation is not just a business goal—it's a moral imperative,' says Kabche. 'In today's world, where environmental challenges and economic disparities often go hand in hand, we have a responsibility to create solutions that are both intelligent and inclusive. We are transforming outdated infrastructures into engines of opportunity, not only generating clean energy but also breathing new life into communities that have long been overlooked. By investing in renewable energy and sustainable industrial practices, we're catalyzing economic growth, job creation, and resilience in regions that need it most. This is about more than business—it's about building a future where innovation serves people, the planet, and progress equally. Through strategic partnerships and bold action, we are working to ensure that sustainable development becomes the foundation of long-term prosperity across Latin America and the Caribbean.' His future-forward agenda includes the expansion of solar capacity in Humacao, market entry into the Dominican Republic and Virgin Islands, and the development of vertical urban farming systems. Energy storage innovations integrated with solar systems are also on the horizon, targeting greater resilience in disaster-prone areas. For press inquiries, strategic alliances, or more information on projects, please contact Mounir Kabche through: Email: contact@ Website or through Our reach out directly through Social Media: About Mounir Kabche Mounir Kabche is a investor with a strategic presence in Latin America and the Caribbean. Through companies like Conexsol PR, SolarGrid Dynamics, and InnovateTech, he drives innovation in renewable energy, sustainable agriculture, and financial modernization. Kabche's work is guided by a commitment to long-term impact and regional growth. ### Media Contact Mounir Kabchecontact@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
21-04-2025
- Business
- Bloomberg
Democrats Take Aim at Puerto Rico Tax Perks for Crypto Investors
Democratic lawmakers on Monday introduced a bill to block investors from using Puerto Rico as a cryptocurrency tax haven — a proposal unlikely to advance without Republican support and as Congress prioritizes extending the 2017 tax cuts. Under current laws, qualified investors living in the US Commonwealth are not required to pay local or federal taxes on capital gains, including crypto appreciation. That tax break — part of a broader package of tax incentives known as Act 60 — has made the island a haven for thousands of digital currency enthusiasts.
