Powerful lawmakers are promising at least a framework for the overhaul by the end of the month. The broad goals are lower rates for corporations and individuals, a simpler tax code with fewer brackets, and the elimination of the estate tax and the alternative-minimum tax.
If you save for retirement or itemize your tax deductions, you could end up paying thousands of dollars more after tax reform than you do now. To help pay for promised cuts, President Donald Trump and Republicans in Congress are trying to raise revenue elsewhere.
And the best place to get this money may be the millions of Americans who use deductions and other such strategies to lower their tax bills.
Verified high-limit credit cards from countries including the U.S., Japan, and South Korea are selling on the dark web for the bitcoin equivalent of about $10 to $20, according to an annual report on cybercrime by Secureworks, a unit of Dell Inc.Click here to download a pdf of this article, Missile.pdf
Hurricane Harvey took aim at one of the nation’s most industrial regions, releasing a stream of toxic pollutants from chemical plants, refineries and Superfund sites in Texas. But when its bigger sister Irma slammed into Florida, environmental alarms rang over a different kind of discharge: raw sewage.
Millions of gallons of poorly treated wastewater and raw sewage flowed into the bays, canals and city streets of Florida from facilities serving some of the nation’s fastest-growing counties. More than 9 million gallons of releases tied to Irma have been reported as of late Tuesday as inundated plants were submerged, forced to bypass treatment or lost power.
Such overflows, which can spread disease-causing pathogens, are happening more often, as population shifts and increasingly strong storms strain the capacity of plants and decades-old infrastructure. The Environmental Protection Agency estimated last year that $271 billion is needed to maintain and improve the nation’s wastewater pipes, treatment plants and associated infrastructure.
“This minimal growth projection is a result of slowing revenue growth overall, a return to higher levels of inflation in 2017 (2.1 percent) and the typical conservative approach that finance officers take for revenue estimates,” it said.
U.S. cities’ revenue growth in fiscal 2017 is projected to contract for a second consecutive year, the first time this has happened since the recession, according to a report released on Tuesday by the National League of Cities.The report, based on a survey of finance officers from 261 cities, found that General Fund revenues are slowing. Revenue growth for the fiscal year ended June 30 is projected to “stagnate” to a rate of 0.9 percent, down from fiscal 2016’s growth rate of 2.61 percent, the survey said.
"Those effects tend to be pretty transitory," Dudley said in a live interview with CNBC. "The long-run effect of these disasters unfortunately is it actually lifts economic activity because you have to rebuild all the things that have been damaged by the storms."Click here to download a pdf of this article, Missile.pdf
The U.S. missile defense system is a global network with 24-hour surveillance by land-, sea- and space-based sensors, all of which are constantly looking for signs of anything amiss in North Korea. Regional missile interceptors are deployed in Japan, South Korea, Guam and on U.S. Navy ships, while military bases in Alaska and California are equipped to intercept a missile headed toward the United States. So what would that response look like? It’s impossible to say exactly, with so many variables in play and almost as many failures as successes in tests, but this is theoretically how the system should work.Click here to download a pdf of this article, Missile.pdf
Hurricane Irma is threatening to wreak havoc on Florida farmlands, menacing $1.2 billion worth of production in the top U.S. grower of fresh tomatoes, oranges, green beans, cucumbers, squash and sugarcane.
Though its economy long ago diversified from its rural roots, Florida still has a huge influence on American grocery stores as the No. 2 U.S. produce grower, trailing only California. The state accounts for almost 10 percent of the nation’s land dedicated to fresh fruits and vegetables, according to government data.
Leading U.S. lawmakers said on Tuesday they were preparing to swiftly approve disaster relief for victims of Hurricane Harvey and two other must-pass priorities: preventing a default on U.S. government debt and avoiding a government shutdown.
Congress must also raise the federal debt ceiling by the end of September or early October to stave off an unprecedented U.S. government debt default, which would shake global markets.
The debt ceiling caps how much money the U.S. government can borrow, and some conservatives are loath to raise it without spending reforms. U.S. Treasury Secretary Steven Mnuchin on Sunday said Congress should act quickly to increase the debt limit, or else relief funding for hurricane-ravaged areas of Texas might be delayed."Without raising the debt limit, I am not comfortable that we will get money to Texas this month to rebuild," Mnuchin said on Fox News Sunday.
Companies are working to assess the safety and potential damage of assets they’re able to access, according to Christi Craddick, chair of the Railroad Commission of Texas, which has regulatory authority over the state’s oil and gas industry. But in the coastal areas where Harvey did its worst, flooding is preventing operators from even being able to inspect some sites, she said."Until the water goes down and we can really go in make an assessment, I don’t think anybody knows yet what assets look like" in the areas hardest hit by Harvey, Craddick said in a telephone interview. "We don’t have a time line at this point."
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