Latest news with #Rest
Yahoo
a day ago
- Business
- Yahoo
Rank-and-file reject Minnesota legislative leaders' ‘skinny' tax bill
Dark clouds loom over the Minnesota Capitol on May 15, 2025. Photo by Michele Jokinen/House Public Information Services. Senate Taxes Chair Ann Rest, DFL-New Hope, didn't need much time to shoot down the 'skinny,' 12-page tax bill proposed by Minnesota legislative leaders as they rush to button-up a two-year budget deal, without which the state shuts down at the end of the month. 'I rejected it right off the bat,' Rest said in an interview Monday. 'As soon as I saw it, I told them I couldn't vote for that and neither could half a dozen other Senate Democrats.' The text of the bill was posted on Sunday, but Rest said it's been obsolete since Friday morning when she expressed her opposition and asked that they continue working toward a deal. Rest's rejection raises the prospect of a two-year budget agreement without a tax bill, which isn't necessary for ongoing government operations but would leave a bevy of lawmakers and interest groups fuming, their hopes for special tax treatments foiled. The 12-page document largely maintains the status quo with a couple notable exceptions agreed to weeks ago: increasing the sales tax on cannabis 50% and repealing the electricity tax exemption for power-hungry data centers. Those will still be in any final package, Rest said, but the 'skinny' bill leaves out noncontroversial but nevertheless important policies. For instance, more than a dozen cities are awaiting approval for local tax increment financing districts aimed at spurring development. The skinny bill also leaves out continuing tax credits for sustainable aviation fuel, which has bipartisan support but was was absent from the leadership agreement signed off by Gov. Tim Walz, Speaker Lisa Demuth, R-Cold Spring, Speaker Emerita Melissa Hortman, DFL-Brooklyn Park, and Senate Majority Leader Erin Murphy, DFL-St. Paul. Republican co-chair of the House Taxes Committee Greg Davids of Preston also unequivocally rejected the proposal in an interview with MPR News. 'We put five months of thought into something they put five minutes of thought into, and I know which one's going to be better,' Davids said. 'I'm just not sure why any Republican would even consider voting for this. I don't think it would pass (the) House or the Senate.' While the taxes working group was meeting in public, negotiations have moved behind closed doors and will likely remain so until a deal is reached, Rest said. Building trade unions and business groups are banking on lawmakers extending sales tax exemptions for data centers on equipment purchases even as they sunset exemptions on electricity. They hope by extending the equipment sales tax exemption into the next century, the state will entice Meta, Amazon and other tech giants to build data centers in Minnesota. The tax incentives are particularly important to the construction unions after lawmakers failed to reach an agreement on a public infrastructure package for the second year in a row. Building one large data center can cost upwards of $1 billion — more than an entire public infrastructure package — and create upwards of 1,800 construction jobs, according to a study of Wisconsin. Opponents argue that tech giants will build data centers in Minnesota regardless of the tax incentives leaving regular taxpayers to subsidize some of the richest companies in the world at the expense of investing in schools, nursing homes and infrastructure. The state expects to bring in an additional $56 million in tax revenue over the next two years by repealing the electricity exemption. The state will still exempt data centers from sales tax on equipment and software through 2042, which is expected to cost more than $200 million in forgone sales tax revenue over the next two years. Amazon recently announced that it's suspending plans for a large data center in Becker 'due to uncertainty' — one week after lawmakers announced they were eliminating the sales tax exemption on electricity. Lawmakers have also agreed to raise the tax on retail cannabis sales from 10% to 15%, pushing the total sales tax above 20% across the state when local and state sales taxes are added. The tax hike would land before the state has even issued any cannabis sales licenses, although it has been collecting taxes on THC beverages and low dose edibles. Just one dispensary would be subject to the tax increase: The White Earth Nation opened its first off-reservation store in Moorhead last month after negotiating a compact with state leaders through a process exclusive to tribes. State lawmakers voted to legalize cannabis in 2023 with a relatively low sales tax compared to other states, arguing that a higher tax would allow the black market to survive, and that cannabis sales should not generate funding for unrelated budget items. The 15% rate would push Minnesota toward the higher end of taxes compared to the 23 states with legal cannabis sales, according to the Tax Foundation. The bill would also repeal a law that sends a fifth of cannabis tax revenue to cities and counties to fund local enforcement costs.
AU Financial Review
30-04-2025
- Business
- AU Financial Review
Rest's Project Scarlet to overhaul super giant's death payments
Rest Super will give its board more oversight of how it handles the payout of savings to the families of members who have died and fast-track thousands of those matters in an overhaul known internally as Project Scarlet. Rest is one of the largest industry superannuation funds in the country, managing the retirement savings of predominantly retail workers. The fund, which oversees about $92 billion, was identified as the slowest to pay out families in a review conducted by the corporate regulator this year.
Scroll.in
22-04-2025
- General
- Scroll.in
HPSC PGT registration window reopens soon; 1711 posts on offer
The Haryana Public Service Commission (HPSC) will reopen the online application window for the recruitment of Post Graduate Teachers (PGT) in the subject of Computer Science for Rest of Haryana Cadre & Mewat Cadre under Advt No. 26 of 2023 & 36/2023. Eligible candidates can apply for the vacancies on the official website from April 28 to May 2, 2025. The recruitment drive aims to fill 1711 vacancies, of which 1633 are for Post Graduate Teachers in the subject of Computer Science for Rest of Haryana Cadre, and 78 for Mewat Cadre. Candidates can check the eligibility criteria, age limit, pay scale, and other details available in the notification below: Here's the official notification. Steps to apply for PGT posts 2025
Yahoo
15-04-2025
- Business
- Yahoo
REST® INTRODUCES EVERCOOL® COOLING PAJAMAS, EXPANDING ITS SIGNATURE COOLING TECHNOLOGY TO NIGHTWEAR
A Seamless Blend of Style, Comfort and Cooling Innovation for Hot Sleepers NEWARK, Del., April 15, 2025 /PRNewswire/ -- Rest®, the brand redefining sleep with its groundbreaking cooling technology, is excited to introduce Evercool® Cooling Pajamas—a highly anticipated expansion of its award-winning Evercool® collection. Inspired by the same technology behind the best-selling Evercool® Cooling Comforter and Evercool®+ Cooling Sheets, this innovative sleepwear line is designed to provide hot sleepers with a breathable, moisture-wicking and temperature-regulating solution that extends beyond bedding. "We're thrilled to introduce Evercool Cooling Pajamas, bringing the same cutting-edge cooling technology from our bedding into stylish, cooling sleepwear," said Rest® Head of Product Development, Amy Fang. "Our goal was to create sleepwear that not only looks and feels premium but also actively keeps sleepers cool and comfortable throughout the night— allowing them to experience Rest's signature innovation in every aspect of their sleep routine." Evercool® Cooling Pajamas expertly blends cooling comfort and style; crafted from a blend of cooling nylon and soft viscose, the sleepwear provides an ultra-soft, silk-like feel while maintaining superior breathability. The innovative fabric delivers an instant cool-to-the-touch sensation, comparable to the refreshing feeling of a cool stream gliding over the skin. Designed with strategic slits on the back and bottoms to enhance airflow, the sleepwear ensures continuous cooling throughout the night. The U-shaped neckline allows for greater neck exposure, helping to dissipate heat, while the moisture-wicking and quick-drying properties keep sleepers fresh and dry. With its easy-care fabric, Evercool® Cooling Pajamas are machine washable and pet-hair resistant, offering the luxurious feel of silk without the high-maintenance care. The Pajamas are available in two elegant colors, Midnight Blue and Champagne Gold, and in both shorts and pants sets, both of which are available for purchase online at Paired with Evercool® bedding, the new sleepwear line creates a complete cooling sleep system, allowing sleepers to experience Rest's signature innovation from head to toe. Consumers have described the sensation as having a "built-in fan," even in humid environments, making it an essential addition for those who struggle with overheating at night. "At Rest, we believe better sleep starts with ingenuity," adds Rest® Co-Founder and CEO, Andy Nguyen. "We are committed to providing innovative solutions that help people sleep cooler, wake up feeling refreshed, and ultimately improve their overall well-being." ABOUT REST®Rest® is a sleep brand redefining the path to personalized comfort—prioritizing well-being through innovation in form, function, and cooling technology. Since its launch, the brand has focused on creating thoughtfully designed products that enhance the sleep experience without the luxury price tag. Known for its Evercool® collection, Rest® offers a range of science-backed products—including premium bedding and, most recently, the newly launched Evercool® Cooling Pajamas—all designed to support temperature regulation and all-night comfort. The brand's standout products have received widespread recognition, including Good Housekeeping's Best Bedding Awards for the Evercool® Cooling Comforter for the past three years, Apartment Therapy's 2023 Best List Awards and the 2025 Health Sleep Awards for the Evercool®+ Cooling Sheet Set in the Best Cooling Sheets category, and a 2025 Oprah Daily Sleep O-Wards for the Evercool® Cooling Pillow. To learn more, please visit View original content to download multimedia: SOURCE Rest
Yahoo
10-04-2025
- Business
- Yahoo
Proposed tax on social media platforms in Minnesota could raise over $300M
Minnesota legislators are weighing a new tax on social media platforms that could raise $334 million in the next four years as the state faces a multibillion-dollar deficit later this decade and uncertainty surrounding federal funding. Under a proposal introduced by Senate Taxes Committee Chair Ann Rest, DFL-New Hope, large social media platforms like Facebook, Instagram, TikTok and X would pay a tax on the collection of user data, which they sell to advertisers. What lawmakers said is a first-of-its-kind state tax would be based on usership for platforms with 100,000 or more monthly users in Minnesota. It would scale up depending on the number of users on the platform, with the top bracket applying to platforms with 1 million or more users. 'For many years now, social media platforms and businesses have taken our information, our identifying information, and used it to make millions and millions of dollars,' Rest told the Senate Taxes Committee as she presented her bill on Wednesday. 'We hope we can modernize the way in which our tax systems work, recognizing the world has greatly changed.' If the new social media tax were to take effect as a part of this year's two-year state budget, it would raise about $46 million in its first year. That amount is expected to grow to more than $90 million annually in the following three years, according to an analysis by the Minnesota Department of Revenue. The Senate and House tax committees heard versions of the bill Wednesday and held it over for possible inclusion in a larger tax package bill later in the session. It could face a tough path forward in the House, where Republicans and Democrats both have 67 seats. GOP lawmakers say the state shouldn't pass any new taxes and should focus on rolling back the large expansion of spending that happened under Democratic-Farmer-Labor controlled government in 2023. Rest and other supporters who testified in favor of the new tax said it would ensure that large companies profiting off user data — which they get by providing otherwise free services — are paying their fair share in Minnesota. 'This bill proceeds from the very reasonable premise that this extraction of value should be taxed the way the extraction of many other valuable natural resources are taxed,' said University of California — Davis law professor Darien Shanske, whose work focuses on state and local tax policy. Economic disruptions and federal budget cuts caused by President Donald Trump also could mean more stress on state resources in the months and years ahead, supporters said. 'This bill is badly needed because it provides revenue that could be used to help those that will be hurt if the social safety net is shredded,' said Phillip Sandro, a retiree with health issues living on a fixed income who spoke for the progressive faith group Isaiah. Supporters also argued that negative social consequences from social media platforms, such as potential harm to younger users' mental health, warrant taxation because of the cost they pose to society. Politicians have targeted companies like Facebook parent Meta in recent years after studies showed that excessive teen social media use was tied to psychological distress. Minnesota is set to have a $456 million budget surplus in 2026-2027, but as lawmakers put together a two-year state budget this spring, a $6 billion deficit looms in the following 2028-2029 fiscal year. Early proposals from the Governor's Office, House and Senate have largely centered around billions in cuts, but Democratic-Farmer-Labor senators and representatives have left new taxes on the table. Republican Senators questioned the need for any new taxes when the state grew spending by 40% in the last budget passed in 2023, which saw state spending top $70 billion and used most of a record $18 billion budget surplus. 'The reason why the state of Minnesota is facing a $6 billion structural deficit is because of the overspending, the unsustainable spending over the last two years,' said Sen. Jeremy Miller, R-Winona. 'When you spend more than the revenue coming in, it's unsustainable; it's simple math.' Opponents also said a tax on social media platforms will hurt small businesses in the state who rely on targeted advertising to reach local and regional customers. New social media taxes would mean big companies would pass the cost along to smaller business customers, argued it would limit access to targeted ads. 'Minnesota's consumers, small businesses, retailers, family farms and even newspapers that would feel this squeeze,' said Deb Peters, a lobbyist with Americans for Digital Opportunity and the Association of National Advertisers. 'Taxing advertising, especially online, raises prices for everyone.' Business interests also noted that passing a law targeting social media with a new tax could attract legal action. The Internet Tax Freedom Act, originally passed in 1998, protects online businesses from state and local government taxes that apply only to digital commerce, wrote the Midwest branch of TechNet, a group representing technology executives. New MN office for missing, murdered Black women and girls aims to build awareness MN House bill aims to assist families with child care costs Push to release Sen. Nicole Mitchell arrest video gets new chance on appeal St. Paul nonprofit pays $7.3M to turn Bandana Square hotel into emergency shelter Minnesota health department cuts 170 jobs after federal COVID grant freeze
