Tag: taxes

Nearly a dozen mayors moving forward with slavery reparations plans

Nearly a dozen mayors in towns and cities across the United States are moving forward with local plans to offer reparations in one form or another to black Americans in an attempt to rectify the alleged lingering effects of U.S. slavery.

The group, Mayors Organized for Reparations and Equity, consists of high-profile U.S. mayors such as Eric Garcetti of Los Angeles and Steven Adler of Austin, Texas, along with executives from smaller cities such as Asheville, N.C.’s Esther Manheimer and Keisha Currin of Tullahassee, Okla. 

The mayors “are committed to moving that needle with action and advocacy that points toward justice and healing the wounds of history,” the group says on its website. 

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California offers $100 million to rescue its struggling legal marijuana industry

The California Legislature on Monday approved a $100-million plan to bolster California’s legal marijuana industry, which continues to struggle to compete with the large illicit pot market nearly five years after voters approved sales for recreational use.

Los Angeles will be the biggest beneficiary of the money, which was proposed by Gov. Gavin Newsom to be provided as grants to cities and counties to help cannabis businesses transition from provisional to regular licenses.

“California voters approved Proposition 64 five years ago and entrusted the Legislature with creating a legal, well-regulated cannabis market,” said Assemblyman Phil Ting (D-San Francisco), the chairman of the Assembly Budget Committee. “We have yet to reach that goal.”

Many cannabis growers, retailers and manufacturers have struggled to make the transition from a provisional, temporary license to a permanent one renewed on an annual basis — a process that requires a costly, complicated and time-consuming review of the negative environmental effects involved in a business and a plan for reducing those harms.

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Biden’s Disturbing Plans to Expand the IRS, Disclosure Rules Should Worry Conservatives

President Biden’s budget proposal calls for increasing funding for the IRS by $80 billion, much of which would go toward hiring nearly 87,000 new workers over the next 10 years. If Congress adopts Biden’s plan, the size of the IRS would double, with its workforce increasing by about 15 percent every year.

According to the Biden administration, the primary reason behind the expansion is to help the IRS chase down individuals and families who cheat on their taxes. Apparently, the tens of thousands of people who already work at the IRS aren’t enough to get the job done.

In addition to Biden’s plan to expand the size of the staff at the IRS, the White House and congressional Democrats have also proposed substantially increasing disclosure requirements for groups that spend money on political advertising, a policy proposal contained in the For the People Act, legislation that is separate from Biden’s budget.

Under the For the People Act, also commonly referred to as H.R. 1, many organizations that spend money during election cycles would be forced to reveal donors who have given at least $10,000.

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