Category: Personal Finance

How a tax-cut bill met its demise at the Arizona Legislature

How a tax-cut bill met its demise at the Arizona Legislature Members in Arizona’s Republican-controlled House did something unusual on Thursday: They killed a major tax break. Check out this story on azcentral.com: http://azc.cc/2lswPZU Arizona lawmakers killed a bill designed to keep Arizona competitive in the race for manufacturing businesses, citing a host of objections.

Trump should repeal Dodd-Frank legislation

Unless you’ve been living under a rock, you know anything mentioning the president’s name is going to cause back and forth between Democrats and Republicans. This column is not intended to be political in any way, but rather my own commentary on the Dodd-Frank legislation, its effects and why doing away with it will be a positive for our industry.

‘Fairness formula’ dead, but push for school aid changes isn’t

Gov. Chris Christie appears to have given up on his ‘fairness formula,’ though not the broader goal of revamping how New Jersey distributes school aid. Christie has called since last June to equalize per-pupil school aid across all districts, rather than give additional aid to districts with higher levels of poverty and homes where English isn’t the main language.

Trump throws down a huge challenge to the tea party

President Trump has thrown down a major challenge for the tea party and its congressional bloc, known as the Freedom Caucus. He is proposing to Congress a massive budget-busting plan that increases military spending by a whopping $54 billion, slashes domestic programs, and leaves Social Security and Medicare intact.

Twitter mocks Democrat response

Twitter lit up late Tuesday night to mock former Kentucky Gov. Steve Beshear, who delivered a stilted response to President Trump’s speech from a coffeehouse. Beshear appeared to be picked to respond because he’s from a working-class state that Democrats are now desperately looking to win back.

Trump looks to reset his presidency, again, with speech to Congress

Donald Trump will use his first prime-time address to Congress Tuesday to refocus his presidency on series of policy priorities, including the economy and health care, and away from the infighting and allegations of corruption that have plagued his young administration. In the speech whose theme is dubbed the “renewal of the American spirit,” Trump will tout his campaign promises and offer a vision for the country in a more optimistic tone than he did at his inaugural address , after weeks of taking credit, often without merit, for the surge in the stock market and creating jobs, his aides say.

Paul Ryan: ‘We are hosed’ if we don’t tackle entitlements like Medicare

President Donald Trump ran on a vow to not cut benefits for Medicare, but House Speaker Paul Ryan said he thinks that is still an “open question.” “From all my conversations with the President, he says ‘I don’t want to change Medicare benefits for people in or near retirement,’ and we agree with that,” the Wisconsin Republican told reporters in his Capitol suite Tuesday morning.

Trump on Hook to Clarify Policies With Speech to Congress

Lawmakers, investors and the American public want President Donald Trump to provide some much-desired clarity on his policy agenda with his first address to Congress on Tuesday. Six weeks into his presidency, Trump is under increasing pressure to answer core questions about how he’ll deliver on his promises to bring fundamental change to U.S. health-care policy, the tax system, defense spending and immigration.

Business news in brief

The glut of corn that’s been driving down prices is finally starting to ease, and hedge funds are betting that will help spark a rally for the commodity. U.S. corn inventories are expected to drop before the 2018 harvest as farmers curb plantings and demand stays robust, the Department of Agriculture said Friday.

AP sources: Trump to propose boosting defense spending

The White House will propose boosting defense spending and slashing funding for longtime Republican targets like the Environmental Protection Agency in a set of marching orders to agencies as it prepares its budget for the upcoming fiscal year. President Donald Trump’s proposal for the 2018 budget year, which will be sent to agencies Monday, won’t make significant changes to Social Security or Medicare, according to an administration official.

GOP Tax Plans Could Eliminate Popular Tax Breaks

When Republicans say they want to lower taxes and get rid of loopholes to make up the lost revenue, they’re talking about eliminating some very popular tax breaks enjoyed by millions of people. That’s why making big changes to tax laws is so hard – and why it hasn’t been done for 30 years.

AP Sources: White House To Propose Boosting Defense Spending

The White House will propose boosting defense spending and slashing funding for longtime Republican targets like the Environmental Protection Agency in a set of marching orders to agencies as it prepares its budget for the upcoming fiscal year. President Donald Trump’s proposal for the 2018 budget year, which will be sent to agencies Monday, won’t make significant changes to Social Security or Medicare, according to an administration official.

TRI/Austin Presented Prestigious Tibbetts Award at the White House

Texas Research Institute Austin, Inc. has been recognized with the Tibbetts award through the participation in the Small Business Innovation Research program. Vice President of TRI/Austin, Dr. Michael Dingus and Director of Business Development, Vince Newton, accepted the award on January 9th, 2017 at the Eisenhower Building within the White House complex in Washington, D.C. The U.S. Small Business Administration ensures that the nation’s high-tech, innovative small businesses are a significant part of the federal government’s research and development efforts.

RBS posts 6.96bn loss

Royal Bank of Scotland reported a sharp rise in losses on Friday as higher misconduct charges and restructuring costs underscored the challenges facing the lender nine years after it was bailed out in the world’s biggest bank rescue. RBS, which has not made an annual profit since 2007, booked 6.96 billion pounds of losses for 2016, against a 1.98 billion pound loss in the same period a year earlier.

AARP seeks to protect Medicare

AARP has launched a campaign to protect Medicare in the face of proposals by some in Congress that would hurt West Virginians who have paid into the program their entire working lives, AARP officials said in a news release. Congressional proposals to change Medicare into a voucher system would dramatically increase health care costs and risks for current and future retirees, AARP said.

RBS to Miss Target for Asset Sale – Takes $920 Million Charge

The bailed-out lender is exploring an alternative plan after saying it will miss an EC target to dispose of assets, including Williams & Glyn, and repay state aid Bailed out British lender, Royal Bank of Scotland said Friday that it will miss a European Commission deadline for selling off assets, including its Williams & Glyn division, and repaying taxpayer aid given to it during the financial crisis. It will report a A 750 million exceptional charge when it reports full-year results on Feb. 24 and is now considering an alternative plan for repaying state aid.

Community banks hopeful as lawmakers target financial rules

The number of small, local banks has declined since the Great Recession, a change that advocates feel was intensified by the paperwork the increased oversight entails. Community banks hopeful as lawmakers target financial rules The number of small, local banks has declined since the Great Recession, a change that advocates feel was intensified by the paperwork the increased oversight entails.

New world order predicted as populations age

THE global economic order is changing. PwC’s latest forecast for the world economy in 2050 shows the rise of emerging markets is expected to continue over the next few decades, even as questions loom over the future of trade and what a stronger dollar could mean for these countries in the next few years.

Rail bypass opponents from two states rally in Mystic

To continue reading up to 10 premium articles, you must register , or sign up and take advantage of this exclusive offer: Lauren Girasoli of Old Lyme carries a sign that states “Don’t Track on Me” as more than one hundred people gather at Olde Mistick Village on Saturday, Feb. 12, 2017, to rally against the proposed Old Saybrook to Kenyon, R.I., high-speed rail bypass.

Rail bypass opponents from two states rally in Mystic

To continue reading up to 10 premium articles, you must register , or sign up and take advantage of this exclusive offer: Lauren Girasoli of Old Lyme carries a sign that states “Don’t Track on Me” as more than one hundred people gather at Olde Mistick Village on Saturday, Feb. 12, 2017, to rally against the proposed Old Saybrook to Kenyon, R.I., high-speed rail bypass.

Trump, GOP move to quash tighter financial rules

Just three weeks into his administration, President Donald Trump and his allies are moving quickly to dismantle the web of regulations the government passed after the 2008 financial crisis to tighten oversight of banks and protect consumers and taxpayers. Trump has branded the 2010 Dodd-Frank law – which imposed many of the rules – a “disaster.”

Donald Trump delays RBS toxic mortgage fine

Sacking of acting US attorney general Sally Yates could further delay RBS’s efforts to agree fine for its sales of toxic mortgage debt The sacking of acting US attorney general Sally Yates could further delay Royal Bank of Scotland’s efforts to agree a fine for its sales of toxic mortgage debt. President Donald Trump fired Yates, 56, when she refused to defend his travel ban on citizens of seven Muslim countries.

Abrams: Travel ban threatens Main Street small businesses

Abrams: Travel ban threatens Main Street small businesses Risks include fewer foreign visitors and U.S. business people becoming less welcome abroad. Check out this story on USATODAY.com: http://usat.ly/2katnhO President Trump speaks before signing an executive order surrounded by small business leaders in the Oval Office of the White House January 30, 2017 in Washington, DC.

Nation-Now 33 mins ago 11:54 a.m.New documents show Pres. Trump retains direct tie to businesses

New documents confirm that President Donald Trump retains a direct tie to his business interests through a revocable trust now being overseen by one of his adult sons and a longtime executive of the Trump Organization. Trump is the sole beneficiary of the Donald J. Trump Revocable Trust, which is tied to his Social Security number as the taxpayer identification number, according to documents published online by the investigative nonprofit ProPublica.

Trump blocks Booker-backed rule to curb retirement financial adviser abuse

WASHINGTON — Rules designed to curb abuses by financial advisers handling retirement funds were put on hold by President Donald Trump even as he spent the campaign railing against Wall Street . Trump blocked new U.S. Labor Department requirements that such advisers recommend retirement investments that would be best for their clients, even if they carried smaller fees and generated less profits than other funds.

Mnuchin’s denials don’t match record

Sen. Orrin Hatch says no, that the man nominated by President Donald Trump to be treasury secretary told the truth when he asserted that his former company, OneWest, had not engaged in the practice of “robo-signing” mortgage documents. That’s despite dozens of court cases uncovered by The Dispatch that showed OneWest officials’ robo-signatures, along with sworn testimony from one of his vice presidents describing how she did it.

Trump attacks restrictions on big banks, retirement advisers

President Donald Trump has launched his long-promised attack on banking rules that were rushed into law after the nation’s economic crisis, signing new orders after meeting with business and investment chiefs and pledging further action to free big banks from restrictions. Wall Street cheered him on, but Trump risks disillusioning his working-class voters.