The government faces a significant risk of not being able to pay its bills without an increase to the debt limit.
The Charitable Act would allow givers who don’t itemize to claim a charitable deduction and get money back on their taxes.
from SPN’s Dispatch from DC newsletter Republican Speaker of the House Kevin McCarthy and Democrat President Joe Biden are the figureheads of a high stakes game of political chicken centered around our national debt ceiling. Since the beginning of the year, the President has insisted that debt ceiling talks should be separate from budget negotiations […]
The Rhode Island Commerce Corporation said Tuesday it will provide $3 million in funding for the Rhode Island Minority Business Accelerator Program’s Intermediary-Based Initiative. The funding will be awarded through a request for proposals that are designed to support minority business enterprises.
Originally printed in the March 30, 2023 edition of The Independent “Flattening inflation easier said than done” Probably everyone remembers elected and public health officials telling us that we had to “flatten the curve” of the corona virus pandemic. The unstated reason was to prevent hospitals and medical personnel from being overwhelmed by a dramatic […]
On Tuesday, April 4, Chariho residents will vote whether or not to approve a proposed $64.5 million budget for that regional school district, in a special referendum. As is often the case, the school budget vote pits union and school system backed groups who want to spend more … against taxpayer groups who seek to […]
The RI Center for Freedom & Prosperity and its CEO, Mike Stenhouse, urging US Congressional leaders to continue their efforts to repeal the woke Biden-Harris ESG rule on individuals’ 401k and other retirement accounts. The letter to House leadership applauds their efforts to repeal the Biden administration’s ESG rule and calling for Congress to continue […]
Senator Elaine Morgan introduces legislation to eliminate state tax on Social Security income Senator Elaine Morgan introduced legislation to completely eliminate the tax on Social Security income in Rhode Island. Bill S84 specifies for tax years beginning on or after January 1, 2024, an individual may subtract from federal adjusted gross income all Social Security income. PROGRAMMING […]
EDITOR’s NOTE: Fentanyl is the poison that is killing our fellow Americans. “Kickback Capitalism” is the poison that is killing our American economy and our politics. **** Originally published in the Wall Street Journal on March 5, by Andy Kessler as: The Rise of Kickback Capitalism What the government does best is throw your tax […]
Based on its flat 7% sales tax rate, Rhode Island wound up in the middle of the pack in a nationwide analysis of states’ policies. In its 2023 analysis of state and local sales tax rates, the Washington, D.C.-based think tank Tax Foundation ranked Rhode Island No. 24.
According to the RI Public Expenditure Council (RIPEC), Rhode Island’s economy continues to lag the New England region and the United States in several indicators of economic growth according to the Rhode Island Key Performance Indicators (KPI) Briefing for the fourth quarter of 2022, released today. After decades of liberal-progressive tax and spend polices, along with […]
The U.S. economy added 263,000 jobs in November, more than economists expected. The unemployment rate remained steady at 3.7%.
Among the six places in Rhode Island with available data and populations of at least 25,000, Woonsocket ranks as the poorest. The typical Woonsocket household earns $44,310 a year, compared to the statewide median household income of $70,305.
SLS rocket costs are only a small quadrant in a wider galaxy of wasteful mission spending.
More than 40% of U.S. small business owners say they couldn’t pay rent on time or in full for the month of November.
While high rates of inflation have hit the entire nation hard, some regions have experienced it more intensely. WalletHub reported Thursday that the Minneapolis-St. Paul-Bloomington, MN-WI, metropolitan statistical area has experienced the 16th highest rise in inflation, based on two Consumer Price Index metrics: latest month versus two months prior and latest month versus one year ago. The metrics received equal weight in the report.
Newly released federal data show the economy created more jobs than expected but unemployment rose in October. The U.S. Bureau of Labor Statistics released the data, which showed the economy added 261,000 jobs in October, higher than the Dow Jones estimate of 205,000 new jobs.
A mixture of federal and state funding are being used to address Rhode Island’s housing situation. More than $166 million will be put to work to support the construction and preservation of affordable housing in the state, Gov. Dan McKee said. RIHousing has now opened a competitive funding round that will be used for financing those efforts throughout the state.
With decades-high inflation eroding incomes, families around the country are struggling to make ends meet. The problem is especially pronounced for those in minimum wage jobs, as the federal minimum wage stands at $7.25 an hour – and in 20 states, the minimum wage matches the federal figure.
A program designed to bring jobs and advance Rhode Island’s economy broke ground Monday morning.
Gov. Dan McKee said the first phase of the South Quay Marine Terminal will create good-paying jobs and advance the state’s Blue Economy. The project, when finished, will serve as a staging area for the state’s wind turbine plan and will be a central hub for the region’s offshore wind economy.
A taxpayer watchdog group has released an “anti-inflation agenda” that it says the federal government should follow to combat the persistent inflation felt across the country. The Washington, D.C.-based National Taxpayers Union said in the recent policy paper that the agenda “could make modest and near-term contributions to reducing inflation, even though monetary policy at the Federal Reserve will still have the largest role to play.”
Federal funding to help Rhode Island fix bridges and roads is on the way. U.S. Sen. Jack Reed, D-RI, has announced the state will receive an additional $48.5 million to repair highway infrastructure through the Federal Highway Administration’s redistribution of funds for the month of August.
Electronic cigarette company Juul will pay out $438.5 million to 33 states as part of a proposed settlement following a two-year investigation into the company’s marketing practices.
A federal judge sided with Louisiana Attorney General Jeff Landry and 12 other plaintiff states in a Louisiana-led lawsuit, issuing a permanent injunction against the Biden administration’s moratorium on new oil and gas leases on federal lands and water.U.S. District Court Judge Terry Doughty issued the permanent injunction, declaring that the president exceeded his authority when halting oil and gas leasing and drilling permits.
Consumer prices remained high in July but showed only a slight increase from June, a pause from months of surging prices. The Bureau of Economic Analysis Friday released the Personal Consumption Expenditure Index data, a key marker of inflation closely watched by the U.S. Federal Reserve when it makes its interest rate decisions.
A new one-stop website has been created to help Rhode Islanders navigate the 2022 Child Tax Rebate. The Rhode Island Division of Taxation has set up an online portal to give guidance to families in the state to take advantage of the rebate of $250 for up to three children, Gov. Dan McKee said.
T.F. Green International Airport was announced today as a base of operations for Breeze Airways, the young budget airline announced in multiple places. The Providence airport will become the home of 20 routes, with an estimated 20 departures weekly 16 months from now. That number goes to 44 by 2027, multiple outlets said.
Today’s shocking federal data showing a 9/1% year-over-year inflation rate should come as no surprise to anyone with a basic understanding of money-supply economics. The LESSON that all lawmakers – state and federal – should keep in mind is that indiscriminate or wasteful government spending leads to increases in the money supply and the velocity […]
The cost of living in the United States is well below the cost of living in several other developed countries, including the Nordic nations as well as New Zealand and Australia. Still, living expenses in the U.S. are higher than in much of the world.
U.S. Treasury Secretary Janet Yellen’s says that a recession is not inevitable, comments that have been met with skepticism by business leaders.