Latest news with #andMeans
Axios
3 days ago
- Business
- Axios
Scoop: Cruz's $10 billion pitch to Trump on school choice
Sen. Ted Cruz (R-Tex.) is pushing to give controversial pro-school choice measures in the "One Big, Beautiful Bill" an extra boost— taking his pitch straight to President Trump this week, Axios has learned. Why it matters: Reconciliation presents a rare opportunity to pass GOP priorities along party lines. Hill leaders are pushing for as much as they can. Driving the news: Cruz met with Trump at the White House on Thursday along with Reps. Burgess Owens (R-Utah) and Byron Donalds (R-Fla.) who cosponsored the House's version of Cruz's bill. Trump expressed support for their efforts, though did not make any explicit commitments, according to sources familiar with the meeting. The lawmakers were in the Oval Office as the public X feud between Trump and Elon Musk heated up. In the meeting, Trump expressed support for school choice efforts, though did not make any explicit commitments, according to sources familiar. What they're saying: "The President is a supporter of school choice, and has delivered major wins on this issue across the country in states such as Texas," said White House spokesperson Taylor Rogers. "Every child in America deserves access to a quality education that meets their individual needs, regardless of race, ethnicity, income, or zip code," Cruz said in a statement when he introduced his bill. Zoom in: The "One Big Beautiful Bill" already provides up to $5 billion a year in federal tax credits for people who donate to nonprofits that provide scholarships and focus on alternatives to public education. Cruz wants to double that number to $10 billion a year, to match his Universal School Choice Act, which he introduced late last month. The $10 billion a year number has been cut down twice by the House Ways and Means committee. Cruz also wants other adjustments, like removing a limit for families making 300% of their area's median income, ensuring religious schools can benefit and allowing corporations to count donations to groups out of state. Between the lines: Public education advocates are adamantly opposed to such voucher programs, arguing they only benefit wealthy Americans who already can afford to send their kids to private schools, while hurting needed public school funding.
Yahoo
13-05-2025
- General
- Yahoo
Bridge aid pitched to keep older residents sheltered
BOSTON (SHNS) – To address homelessness among senior citizens, housing and senior advocates are pushing to expand a Somerville pilot program that provides temporary rental assistance to help older adults stay housed while they wait for long-term affordable options. Massachusetts launched the pilot program last year in Somerville, where housing costs are skyrocketing, to provide rental assistance to low-income adults over 60 years old to remain in their homes while waiting for long-term subsidized housing. The pilot was funded at $113,000 through the state budget. Advocates are now returning to the Legislature saying it was a success, and that the pilot should be used as a model for other programs around the state. Julia Garvey of the Massachusetts Coalition for the Homeless told the Joint Committee Aging and Independence on Monday that 41% of extremely low-income renter households in the state are older adults, testifying in favor of a Sen. Pat Jehlen and Rep. Shirley Arriaga bill (S 475 / H 4015) that would expand the senior bridge housing program. The bill does not have funding attached to it, but Jehlen filed an amendment to the Senate Ways and Means budget (#153) that would fund the expanded statewide program at $7.5 million. 'Older adults have turned to long-term subsidized housing for relief through programs such as state-funded public housing, the Massachusetts rental voucher program and the housing choice voucher program. But waitlists can be years or even a decade long. We do not have the time to wait and must implement a solution that will help older adults who often have complex health needs and are moments away from living in a shelter, in a car, or on the streets, to remain stably housed,' Garvey said. In Somerville, the bridge funding became available earlier this year. 'Our office in the last two months has gotten requests from 55 older adults, almost all of whom were facing imminent displacement and long waiting lists for public housing,' said Ellen Schachter, director of Somerville's Office of Housing Stability. Schachter said some of the seniors have lost spouses, and therefore lost half their household income, or have health issues that make it difficult to work. Some individuals have come to their office with stories of landlords who had allowed them to live in the same unit for decades at below-market rent, but when the elderly landlord dies, their rent suddenly skyrockets. In 2024, Somerville had 247 seniors waiting to get into elderly disabled housing. Four of them got a spot that year, she said. Of the $113,000 allocated in the budget last year, $100,000 went to the Community Action Agency of Somerville to administer the program. With those funds, the agency provided rental assistance for nine households 'that likely otherwise would have been evicted to the street' while they wait for an offer of affordable housing, said Director of Housing Advocacy Ashley Tienken. Of those nine, two recently moved into permanent affordable housing, she said. 'One story that illustrates the importance of this program is about a gentleman that we recently worked with. He was about to be evicted after losing his wife to illness. When she became sick, he had no choice but to enter early retirement to become her caregiver, and by time she died, he had debt, no savings and only his Social Security income, which was not enough to cover his monthly expenses. With this program, he will be able to properly grieve his wife in the home that they shared until he is able to move into permanent affordable housing,' Tienken said. Under the expanded program that Jehlen and Arriaga propose, adults over 60 years old facing housing instability would not pay more than 30% of their income towards rent, mortgage and other housing costs, with the bridge subsidy making up the difference. Individuals would be eligible if they had incomes below 80% of the area median income and are at risk of eviction due to not being able to consistently pay rent, according to the bill text. The bill also creates a steering committee led by the Executive Office of Housing and Livable Communities to guide the expansion of the bridge subsidy program, with annual reports due every year. Lawmakers on the committee had many questions about the bill, including about its cost and how many people it could serve. 'The cost of keeping people in their homes is so much less than hospitalizations when someone has no place to discharge to, or paying for shelters. So this is cost effective, it's humane, and it's really the only thing that we can think of,' Schacter said. 'My job is to be creative, to think about programs to meet urgent needs, and I think that this program is a creative response to dealing with the crisis we see in elder homelessness in the commonwealth.' WWLP-22News, an NBC affiliate, began broadcasting in March 1953 to provide local news, network, syndicated, and local programming to western Massachusetts. Watch the 22News Digital Edition weekdays at 4 p.m. on Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
New York Post
01-05-2025
- Business
- New York Post
Blue state Republicans spar over cap on tax deductions in Trump ‘big beautiful bill' standoff
WASHINGTON — Republican lawmakers from Democratic states are locked in tense closed-door talks over state and local tax (SALT) deductions — seeking an annual cap of between $30,000 and $100,000 to include in President Trump's 'big, beautiful bill,' sources say. GOPers from New York, New Jersey and California met Wednesday with House Speaker Mike Johnson (R-La.) and House Ways and Means Chairman Committee Chairman Jason Smith (R-Mo.) on Capitol Hill to hash out an agreement to stick in a multi-trillion dollar tax package. Three sources familiar with the meeting told The Post that members sought consensus as they batted around figures of $30,000, $40,000 or $60,000 — and still others suggested a deduction cap of '$100,000 or bust.' 5 Rep. Nick LaLota (R-NY) introduced legislation for a $60,000 cap in the last Congress. Getty Images Rep. Jeff Van Drew (R-NJ) has previously said roughly $30,000 per individual filer is 'a good number' and 'still reasonable.' An unidentified California Republican suggested a $60,000 cap, one source close to the talks said, which roughly matches legislation introduced in the last Congress by Long Island Rep. Nick LaLota to set that deduction level for single filers and $120,000 for joint filers. Rockland County Rep. Mike Lawler has also floated a bill hoping for a $100,000 deduction for individuals and a $200,000 cap for married couples, which would also eliminate the so-called 'marriage penalty' that previously set the same levels for individual and joint filers. 5 Rockland County Rep. Mike Lawler has also floated a bill hoping for a $100,000 deduction for individuals and a $200,000 cap for married couples. CQ-Roll Call, Inc via Getty Images The current maximum cap for those filing federal returns is $10,000 for individuals and married couples, a level set by Trump's 2017 Tax Cuts and Jobs Act and scheduled to expire at the end of this year. Staten Island Rep. Nicole Malliotakis and others have said that the current maximum deduction is not enough — nor would doubling the amount to $20,000 do. 'We're working on identifying a number that will cover the middle-class families we represent,' Malliotakis said. 5 'We're working on identifying a number that will cover the middle-class families we represent,' Rep. Nicole Malliotakis (R-NY) said. AP 'It's going to come down to what provides relief for the middle-class, what can we get consensus on in the committee and what is palatable for the entire conference,' she added. 'The president, the speaker, Chairman Jason Smith and my colleagues on the [Ways and Means] committee — they understand the dilemma facing New York members.' The panel is expected to finalize the tax bill's provisions next week — with Treasury Secretary Scott Bessent setting a July 4 passage deadline. 5 House Speaker Mike Johnson (R-La.) has been optimistic that the whole bill will reach the president's desk around Memorial Day. Getty Images Bessent told reporters Tuesday that if the 'big, beautiful' package — which also includes hikes to the national defense budget and border security funding — 'doesn't pass, we'll have the largest tax hike in history.' If the current $10,000 cap level is made permanent, SALT deductions are estimated to add more than $1 trillion to the federal deficit over the next 10 years, according to the nonpartisan Tax Foundation. The Committee for a Responsible Federal Budget projected even higher deficit-busting effects, with Lawler's $100,000 for singles and $200,000 for joint filers cap cutting nearly $1 trillion in additional revenue on top of that by 2035. 5 New Jersey Rep. Jeff Van Drew has said roughly $30,000 per individual filer is 'a good number' and 'still reasonable.' REUTERS Some of the package's details will have to be ironed out by the Joint Committee on Taxation or the Congressional Budget Office (CBO) to ensure it is eligible to pass the Senate with just 51 votes through reconciliation. 'Our final bill will not only extend the 2017 tax relief for hardworking Americans, it will make it permanent,' Senate Majority Leader John Thune (R-SD) said in a Tuesday floor speech. Johnson has been optimistic that the whole bill will reach the president's desk around Memorial Day. The Post reached out to Johnson, Smith, Lawler, LaLota, Van Drew and Reps. Andrew Garbarino (R-NY) and Young Kim (R-Calif.) for comment.
Yahoo
07-04-2025
- Business
- Yahoo
Indiana property tax bill amended in House Ways and Means, advances to House
The property relief bill was further amended to draw from components of three bills in the Indiana House Ways and Means committee Monday, which Democratic members voiced concern about and Republican members praised for its property tax relief. A 368-page amendment to Senate Bill 1 was approved Monday. The amendment includes elements of the Senate amended Senate Bill 1, like allowing a county's fiscal body to set up a property tax deferment program, and Senate 518, which would require by 2027 that school corporations share referendum revenue with charter schools and by 2028 all school corporations begin sharing revenue from the school corporation's operations fund levy with charter schools. Further, the amended Senate Bill 1 contains language from House Bill 1402, proposed by House Ways and Means committee chairman Jeff Thompson, which includes a 5-year phase-in of exemptions and deductions so that every parcel in the state hits the property tax cap. The amended Senate Bill 1 states that the percentage cap used to determine the maximum levy growth quotient is 4% in 2026. Beginning in 2028, the maximum local income tax expenditure rate for all counties will be 2.9%, according to the amended bill. Under the amended bill, approximately 93% of homeowners will see, on average, a decrease of $200 in their pay-2026 property tax bill, Thompson, R-Lizton, said. Senate Bill 1 initially included language that Gov. Mike Braun campaigned on, a homestead standard deduction amount of 60% of the homestead's assessed value if the value is more than $125,000 or $48,000 plus 60% of the remaining assessed value if the homestead has an assessed value of $125,000 or less. That language was introduced in Senate Bill 1. Braun's plan would cut $4.1 billion across the state between 2026 and 2028, including $1.9 billion from schools, $254 million from libraries, $890 million from cities and towns, and $765 million from counties. The Senate amended Senate Bill 1 to remove Braun's language from the bill. The amended bill would shift the percentage cap used to determine the maximum levy growth quotient to 0% in 2026, 1% in 2027 and 2% in 2028; and allows a county fiscal body to establish a property tax payment deferral program, where up to $10,000 can be deferred and the deferment becomes a lien on the property. The fiscal impact of the amended bill would cut $1.4 billion across the state between 2026 and 2025, including $370.9 million from schools, $67 million from libraries, $304.3 million from cities and towns, and $346.6 million from counties. Last month, Thompson stripped Senate Bill 1 and inserted his House Bill 1402, which was not heard in committee in the first half of session. Under Thompson's bill, phases down the homestead standard deduction over 5 years to 0 beginning for taxes due and payable in 2031; phases in an increase in the supplemental homestead deduction over 5 years to two this of the assessed value of the homestead; establishes a new local income tax expenditure tare for all counties to 2.9%; and phases in a total exemption for business personal property that is placed in service after Jan. 1, 2025. The fiscal impact of Thompson's bill would cut $362.8 million across the state through 2028, including $76.7 million from counties, $147.2 million from cities and towns, $186.2 million from school corporations and $2.1 million from libraries. Rep. Mike Andrade, D-Munster, said he had concerns with the amended bill because the local income tax change will negatively impact Lake County and because it prohibits the northern Indiana commuter transportation district – which runs in his district – from issuing new bonds after May 9 that are payable in whole or in part from amounts distributed from the commuter rail service fund. 'This is not in the perfect place that it needs to be,' Andrade said. 'It's concerning that we're shifting the burden still on local units of government while trying to give some relief to the homeowners.' Rep. Ed DeLaney, D-Indianapolis, said the amended bill likely won't appeal to Gov. Braun because it goes 'nowhere near his goal' to lower property taxes. The Senate likely won't go for the bill, DeLaney said, because it amends its bill. While he doesn't support school corporations sharing referendum dollars with charter schools, DeLaney said he does appreciate the charter school portion of the amended bill because it tones down the language in Senate Bill 518. 'I think we have a tough job getting this over the finish line,' DeLaney said. Rep. Tonya Pfaff, D-Terre Haute, said while the legislature will be able to say that it decreased property taxes, the relief is only an average of $200 at the cost of funding police, fire, schools, library and other local services. 'To me, it's a wash,' Pfaff said. Rep Chris Campbell, D-West Lafayette, said she opposed the bill because property taxes fund police, fire, schools and local municipal needs. Additionally, without a fiscal impact of the amendment, Campbell said she can't approve the amendment. 'Without a fiscal, we're asking this group of decision makers to write a blank check,' Campbell said. 'One size does not fit all.' Rep. Danny Lopez, R-Carmel, said Thompson 'struck a great balance' in offering relief and ensuring municipalities still receive some funding. 'I know there's work that's left to be done. I appreciate your commitment to continue to work on this,' Lopez said. Rep. J.D. Prescott, R-Union City, said he would 'like to see a lot more property tax relief across statewide for this.' 'This is not everything that I want from a property tax relief package, but a no vote would represent keeping the current law in place, with no relief; a yes vote does provide some relief,' Prescott said. 'I will vote yes because I think it's important that we provide relief moving forward. I will continue to push for more meaningful reforms in the future.' Democratic members proposed five amendments, including a renter's deduction and local income tax match, which were voted down along party lines. The amended bill passed in separate 15-8 votes, with all Republicans voting in favor and all Democrats voting against. The bill moves forward for consideration by the House. akukulka@
Yahoo
06-04-2025
- Business
- Yahoo
Bobby Harrison: Will your taxes go up when Mississippi eliminates the state income tax?
House Ways and Means Chair Trey Lamar estimated that the Mississippi income tax will be phased out in 14 years under legislation passed this session and touted by members of the state's Republican political leadership. Nobody was crowing louder about the phase-out of the income tax than Republican Gov. Tate Reeves. He even went on Fox News to brag about it. 'There are moments in a state's history that mark a turning point,' Reeves said on social media. 'A moment where the past gives way to the future … The elimination of the income tax is not just a win for our economy. It's a win for freedom. A win for families. A win for the idea that Mississippi can lead — that we will lead.' Reeves claimed victory even though he originally proposed just before the 2025 legislative session began to eliminate the income tax much quicker. But if Lamar is right, the income tax cut that the Legislature eventually passed and the governor signed into law will be fully eliminated just as the now 50-year-old Reeves nears retirement age. This is at least a little ironic since for years, Mississippi has not taxed retirement earnings. But many of those retirees who do not pay an income tax under state law and other Mississippians as well will face a tax increase under this newly passed legislation touted by Reeves and others. The same legislation that Reeves touts for eliminating the income tax increases the excise tax on a gallon of gas by 9 cents to 27.4 cents per gallon. This will surely represent a tax increase for many seniors, who as stated earlier, pay no income tax. But it also will result in a tax increase for some lower income Mississippians, who pay a limited tax on their earnings because the state's income tax already is so low. Supporters of the legislation argue that a reduction in the tax on groceries from 7% to 5%, which also is included in the new law, will offset the 9-cent per gallon increase in the gasoline tax. Each person's situation is different, based on how far they have to drive, the amount and type of food they buy and the income they earn. But in general, according to information released by legislative leaders, the gasoline tax will bring more revenue to the state — $212 million per year — than the grocery tax cut will take from the state at $128 million per year. It stands to reason more Mississippians will pay more, not less, from the combined increase in the gasoline tax and the cut in the grocery tax. The group that will receive a windfall from the legislation is the state's most wealthy. For Mississippians earning more than $365,000 annually, they will save more than $40,000 per year, according to the national nonprofit Institute of Taxation and Economic Policy. The savings for the wealthiest Mississippian will be as much as the annual earnings of average Mississippians according to Kyra Roby, a policy analyst for the advocacy nonprofit One Voice. But these assumptions are based, in part, on another assumption: that the income tax will be eliminated. Much could happen after Reeves leaves office. A new Legislature and governor — facing possible declines in revenue — could halt or repeal the tax cuts if they faced the option of having to make significant cuts in health care, education and other public services. And then there is the issue of the bill's flaws. The legislation calls for the income tax to be reduced from a flat rate of 4% to 2.9% on taxable income by 2030. But the rest of the income tax phase-out will be determined by growth triggers placed in the legislation by the Senate to ensure that the income tax cuts would be slowed or even halted for a year if revenue did not meet certain levels. But typos in the bill, the House leadership and Reeves reasoned, left the triggers at low levels and thus would lead to a quicker elimination of the tax cut. By contrast, some cautioned the language creating those triggers could be interpreted as only reducing the income tax by a minuscule amount each year, meaning it might take much longer to completely phase out the income tax. In the past, such complex language would go to conference, where House and Senate leaders would take time to ensure the language was correct and did what was intended. But Reeves and House leaders eschewed that process. They believed it was more important to pass what may be a flawed bill and tout the elimination of the income tax while leaving the possible consequences for perhaps a whole new group of state leaders. This column was produced by Mississippi Today, a nonprofit news organization that covers state government, public policy, politics and culture. Bobby Harrison is the editor of Mississippi Today Ideas.
