Stimulus Funds – Bellow In Gark http://bellowingark.org/ Sat, 18 Sep 2021 16:26:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://bellowingark.org/wp-content/uploads/2021/05/default1.png Stimulus Funds – Bellow In Gark http://bellowingark.org/ 32 32 You might get an additional $ 1,000 stimulus check if you live in this state • BGR https://bellowingark.org/you-might-get-an-additional-1000-stimulus-check-if-you-live-in-this-state-bgr/ https://bellowingark.org/you-might-get-an-additional-1000-stimulus-check-if-you-live-in-this-state-bgr/#respond Sat, 18 Sep 2021 16:05:00 +0000 https://bellowingark.org/you-might-get-an-additional-1000-stimulus-check-if-you-live-in-this-state-bgr/ Here’s a whole new stimulus check, this time for a specific group of people in the state of Missouri. Attention Missouri State University students – there may be a new stimulus payment of up to $ 1,500 with your name on it. This was after the Missouri State University Board of Governors voted in favor […]]]>

Here’s a whole new stimulus check, this time for a specific group of people in the state of Missouri. Attention Missouri State University students – there may be a new stimulus payment of up to $ 1,500 with your name on it.

This was after the Missouri State University Board of Governors voted in favor of the plan a few days ago. The money comes from the Federal Emergency Fund for Higher Education. According to the US Department of Education, this fund was created by the original coronavirus relief bill passed by Congress in 2020. The goal is to “provide emergency financial assistance grants to students whose lives have been disrupted, many of whom are facing financial challenges and struggling to make ends meet.

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New stimulus payment of up to $ 1,500 for some Missouri students

For MSU students, these checks could arrive in about a month. “This is money that is supposed to be distributed to students much like everyone else got their stimulus check,” MSU President Clif Smart said. Springfield News-Leader. “We are the go-between to distribute the stimulus checks, according to federal government management.”

US students deemed to have the most “exceptional” needs will be eligible for up to $ 1,500. And the final number might even be a little higher than that, up to $ 1,600, but that depends on the final MSU student tally this fall. International students will be entitled to $ 750. While many other American students receive $ 1,000.

In terms of how will the students actually get that money? The school plans to give them the option to accept or decline the new stimulus payment. If the student chooses, the money will go to his or her state of Missouri account. The funds could then be applied to any outstanding balance they may have.

Alternatively, they can instead request that the school give them the new stimulus payment in the form of a direct bank deposit or a paper check. It doesn’t matter how much money the student might still owe the school.

More checks

This comes as more stimulus payments continue to be sent to the United States. Including families with eligible children, via the new child tax credit installments that came out just days ago.

These payments are part of a series of six monthly checks that give parents a few hundred dollars a month. Based on, that is, the number of eligible children in their household.

The next checks will arrive on October 15th. The IRS said the latest batch of checks totaled about $ 15 billion. And that they were sent to approximately 35 million American families.

Note: These checks were issued to eligible families who filed a 2019 or 2020 tax return. Tax returns processed before August 30 count toward these payments.


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Broward vaccine incentive program receives praise from employees – NBC 6 South Florida https://bellowingark.org/broward-vaccine-incentive-program-receives-praise-from-employees-nbc-6-south-florida/ https://bellowingark.org/broward-vaccine-incentive-program-receives-praise-from-employees-nbc-6-south-florida/#respond Sat, 18 Sep 2021 01:46:52 +0000 https://bellowingark.org/broward-vaccine-incentive-program-receives-praise-from-employees-nbc-6-south-florida/ Incentive programs designed to encourage people to get vaccinated against COVID-19 are spreading across the country. Broward County’s version is to give vaccinated county employees a $ 500 bonus. “I thought it was a pretty good idea,” said Pat Quinn, who works in the environmental protection unit. “I’m vaccinated, it was pretty much a no-brainer […]]]>

Incentive programs designed to encourage people to get vaccinated against COVID-19 are spreading across the country. Broward County’s version is to give vaccinated county employees a $ 500 bonus.

“I thought it was a pretty good idea,” said Pat Quinn, who works in the environmental protection unit. “I’m vaccinated, it was pretty much a no-brainer for me to go ahead and do it and if they’re willing to pay me for it, yeah, I’ll take it.”

The county is using more than $ 3 million in federal COVID-19 stimulus funds to give $ 500 to each vaccinated employee, but each unvaccinated worker will pay an additional $ 20 every two weeks for health insurance.

“At the end of the day, over the course of the year it’s a thousand dollar swing,” said Mayor Steve Geller. “You get the $ 500 bonus or you pay an extra $ 520. By the way, that’s no different than what we have for tobacco.”

“If that helps someone get the shot, it’s, I think it’s worth it. My son had COVID, he spent six days in the hospital, 27, so people think it’s really not that bad, yes it’s a big deal, ”Quinn said, explaining that his son had fallen ill before he was. eligible for vaccination.

NBC 6 spoke to a dozen county employees, all of whom supported the proposal, but only Quinn spoke officially.

Broward will pay county employees who receive COVID-19 vaccines a payment of $ 500, while those who are not vaccinated could face a bi-weekly surcharge and weekly testing, Mayor Steve Geller said Wednesday.

The non-vaxxed should also be tested every week. The county hopes the new policy will get many more workers to roll up their sleeves. So is this a good use of federal funds? State Representative Chip LaMarca, (R) Lighthouse Point, isn’t so sure.

“I’m vaccinated, I think it’s the right thing to do,” LaMarca said. “That being said, from an incentive perspective it’s okay, I think it’s a lot of money to spend getting people to do what they should be doing already and common sense says it.”

The former Broward County commissioner also said he was concerned about the punitive aspect of the program. Geller insists this matches state law prohibiting vaccination warrants, and calls it a carrot and twig approach, saying the punishment for not being vaccinated is too small to consider. like a stick.

Quinn, meanwhile, is urging all of his colleagues who work for the county to get vaccinated and ignore misinformation about vaccines.

“There is a lot of information about the vaccine, but I would tell people to trust the science, to trust the scientists who do this, not to trust the people who have no training in the matter.” , Quinn mentioned.


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Buy this undervalued stock before everyone else https://bellowingark.org/buy-this-undervalued-stock-before-everyone-else/ https://bellowingark.org/buy-this-undervalued-stock-before-everyone-else/#respond Fri, 17 Sep 2021 11:46:00 +0000 https://bellowingark.org/buy-this-undervalued-stock-before-everyone-else/ 2021 has been a good year for banks in general as the sector is up 27% year-to-date, beating the S&P 500. It has a lot to do with macroeconomic trends, like government stimulus funds and a growing economy, and it has a lot to do with the fact that many banks were so devalued last […]]]>

2021 has been a good year for banks in general as the sector is up 27% year-to-date, beating the S&P 500. It has a lot to do with macroeconomic trends, like government stimulus funds and a growing economy, and it has a lot to do with the fact that many banks were so devalued last year during the pandemic that it there was nowhere to go but to go up.

In that mix was a small bank that quietly posted strong returns but remains undervalued. This bank also has major catalysts that could propel it even higher in the years to come. This is why you might consider buying undervalued bank stocks New York Community Bancorp (NYSE: NYCB) before everyone else does.

Image source: Getty Images.

A bank on the move

New York Community Bancorp is the holding company of New York Community Bank, which is the largest savings bank in the United States with approximately $ 57 billion in assets under management. A savings bank is also known as a savings and loan bank as it offers savings and checking accounts for individuals, as well as loans. These banks generally do not provide business loans and services like commercial banks do.

The New York Community Bank has 237 branches in five states – New York, New Jersey, Florida, Arizona, and Ohio – with 128 branches in the New York area. It has spread to other states over the years through acquisitions.

It is growing again with the acquisition of the Michigan-based company Flagstar Bancorp (NYSE: FBC) earlier this year. Flagstar will bring $ 27 billion in assets to New York Community Bancorp as well as some 158 branches in Michigan, Indiana, California, Wisconsin and Ohio. Flagstar is also a leading mortgage lender and service provider, providing loans through a network of wholesale brokers and 86 retail outlets in 28 states.

When the deal closes in the fourth quarter, the combined company will have total assets of $ 85 billion and approximately 400 branches in nine states with 86 retail lending bureaus in 28 states. In addition, it will accelerate New York Community Bank’s transition to a full-service commercial bank, as President and CEO Thomas Cangemi said in April: “The combination of our two companies will enable each of us to continue our transformation into a full-service bank. commercial banking by expanding our product offerings while expanding our geographic reach without overlapping branches. ”

During the second quarter earnings call, Cangemi said the deal had “compelling financial metrics, including double-digit EPS increase and immediate tangible book value creation,” as well as significant growth. deposits and loan opportunities:

And given a larger balance sheet, we will have the opportunity to take advantage of a number of companies and increase our market share. These businesses include both direct and indirect multi-family loans, warehouse mortgages, mortgage banking services as well as the expansion of traditional C&I loans in each of our markets.

New digital payment company

The acquisition of Flagstar is a major catalyst for this bank, which is having a good year, with revenues up 32%, net income up 48% and net interest margin up 32 basis points in the period. second quarter from one year to the next. In addition, loan volume grew 4% year-on-year and the efficiency ratio was low at 37% at the end of the second quarter.

But another major catalyst is a revolutionary new company she is launching with Figure Technologies to create a digital payment process on the Provenance Blockchain, designed for the financial services industry. If your eyes are amazed at the mention of blockchain, just know this: New York Community Bancorp will serve as a financial intermediary, facilitating payments between buyers and sellers of digital stocks of Figure through its new digital marker, USDForward. It is the first digital marker to be used by a bank on the Provenance Blockchain.

The bank plans to move forward with additional marker transactions as well as future projects with Figure Technologies as part of their broader strategic partnership. “This is the first in a series of groundbreaking transactions that we plan to complete with New York Community Bank,” said Mike Cagney, CEO of Figure.

An undervalued stock right now

So you take this efficient bank, you grow it with a major acquisition, and add a revolutionary new business to the blockchain world – and you’ve got a good story. You have an even better story when you realize that this bank is ridiculously undervalued right now with a forward price / earnings (P / E) ratio of around 8 that is trading below its book value with a price / Profit Ratio (P / B) of 0.90. You may want to consider getting into this bank before the market sees its value.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.


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Glenville supervisor provides update on budget process, next forum September 21 https://bellowingark.org/glenville-supervisor-provides-update-on-budget-process-next-forum-september-21/ https://bellowingark.org/glenville-supervisor-provides-update-on-budget-process-next-forum-september-21/#respond Thu, 16 Sep 2021 22:48:27 +0000 https://bellowingark.org/glenville-supervisor-provides-update-on-budget-process-next-forum-september-21/ Glenville residents can expect a preliminary 2022 City Budget from the Supervisor at the end of the month. But to give residents a budget snapshot, Supervisor Chris Koetzle hosted a budget forum on Wednesday evening where he discussed the city’s financial state, its priorities for the city next year, and the challenges that will continue. […]]]>

Glenville residents can expect a preliminary 2022 City Budget from the Supervisor at the end of the month.

But to give residents a budget snapshot, Supervisor Chris Koetzle hosted a budget forum on Wednesday evening where he discussed the city’s financial state, its priorities for the city next year, and the challenges that will continue. to torment the city as the budget is drawn up.

“We have budgeted wisely over the past 12 years,” Koetzle said. “We are in a very solid budgetary situation.

Koetzle said the measures the city has put in place over the years, like using less excess funds and finding ways to pay in cash, have allowed the city to reduce its debt to $ 11 million by the end. this year, up from $ 23 million in 2009, create reserve accounts to pay for projects and keep the state tax cap below the 2% requirement.

Board member Mike Godlewski said while the tax cap has not exceeded 2%, it has been or is close to it.

“I would like us to stay in a 1% to 1.5% increase,” Godlewski said Thursday.

He said he and board member Michael Aragosa voted against two of the city’s last three budgets because they thought the tax increase was too big.

Koetzle said residents of Glenville pay the comparatively lowest tax of any municipality in Schenectady County.

But there are costs that will continue to challenge the city, Koetzle said. These include increased medical benefit costs, pension reserve payments and inflation, while the tax cap remains at 2%.

Health insurance is expected to increase from $ 80,000 to $ 100,000.

“It’s actually low,” Koetzle said.

That means taxpayers in 2022 will pay more than $ 2 million in health benefits for city employees, Koetzle said.

The city is also planning six retirements with a potential sick leave payment of $ 230,000. He said it will be paid for using the city’s retirement reserve account. He said the board must continue to figure out how to replenish this account for future pensions.

As Koetzle continues to prepare the budget, he said his top priorities are:

  • Continue paving projects
  • Continue to improve the park
  • Pursue more climate-smart initiatives
  • Work to build more footbridges and footpaths
  • Continue to remodel and build along Freeman’s Bridge Road

Koetzle said he does not plan to use federal stimulus funds in Budget 2022 because the parameters for how the money can be used have not yet been fully clarified.

Godlewski has said he would like something to be done with the federal stimulus money.

“If it is determined that it can be used that way, I would like some to be used to treat our infrastructure, especially our roads,” he said.

Godlewski and assistant supervisor Gina Wierzbowski said on Thursday that an intern from the roads department recently made a presentation showing the board how the roads are holding up in the city.

Board member Mike Aragosa said on Thursday he would also like to see federal stimulus money used, but did not specify for what.

Infrastructure, however, was the top priority for almost all of the board members.

In addition to figuring out how to spend the stimulus money, Aragosa said there was infrastructure, like painting the water towers, that still needed to be done.

“We’ve known this for some time and we haven’t done anything about it,” he said.

He said paving is also expected to continue. But besides infrastructure projects, youth programs should be funded again, Aragosa said.

Wierzbowski said paving is something she wants to pursue as well. “It’s something that they can see, smell and touch,” she said.

But his other goals were to ensure that municipal services remained intact, including continuing to have adequate staff and well-maintained equipment.

Wierzbowski said she was also in talks with the supervisor about the possibility of creating a community garden behind Anderson Dog Park.

Aragosa said the city did not fund its summer program last year. He said the explanation given was that there were not enough children in town participating. He said funding should be restored and additional programs should be considered.

City Council member James Martin could not be reached for comment.

Budget hearings are scheduled to take place in October. City comptroller Jason Cuthbert said the city is expected to pass the final budget on November 17.

Another Budget Forum will be held on September 21 at 7 p.m. at the Glenville Senior Center.

More from The Daily Gazette:

Categories: News, Schenectady County


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MBTA on track to ‘tax calamity’, report says – NBC Boston https://bellowingark.org/mbta-on-track-to-tax-calamity-report-says-nbc-boston/ https://bellowingark.org/mbta-on-track-to-tax-calamity-report-says-nbc-boston/#respond Thu, 16 Sep 2021 13:21:36 +0000 https://bellowingark.org/mbta-on-track-to-tax-calamity-report-says-nbc-boston/ As Boston’s gubernatorial and mayor candidates plan free public transit before the decade is out, a new report suggests the MBTA could face a “tax calamity” in just a few years, requiring 1.25 billion dollars in new annual revenue. revenues only to meet operating and investment needs. The Massachusetts Taxpayers Foundation released a new report […]]]>

As Boston’s gubernatorial and mayor candidates plan free public transit before the decade is out, a new report suggests the MBTA could face a “tax calamity” in just a few years, requiring 1.25 billion dollars in new annual revenue. revenues only to meet operating and investment needs.

The Massachusetts Taxpayers Foundation released a new report Thursday describing the financial future of the state’s largest transit agency as “unequivocal and disturbing.”

Despite injecting $ 2 billion in federal stimulus funds during the COVID-19 pandemic to offset the drop in ridership, the nonprofit research group said that by spring 2023, the MBTA could consider an operating budget variance of between $ 200 million and $ 400 million. for the next fiscal year.

By fiscal 2025, the gap reaches $ 450 million and by fiscal 2026 it reaches $ 500 million, requiring substantial rate increases or service cuts and layoffs, according to the report. .

The study’s authors described the predicament facing civil servants, including the next governor, as a “Hobbesian choice” between raising incomes or accepting service cuts “that will exacerbate inequalities and derail the economy. economy of Greater Boston “.

The dire predictions for the MBTA’s financial future come just two days after Boston City Councilor Michelle Wu won the preliminary mayoral election. Wu was among the first elected a few years ago to call for making the T free, and that platform has been picked up by Democrats like Ben Downing, who, as a candidate for governor, has promised transportation. in common free by the end. of a first term.

The MTF report says that for the MBTA to properly plan for Beacon Hill, it must decide by spring 2023 whether it will be possible to find an additional $ 500 million per year in the operating budget or to seek alternatives like rate increases.

The gap on the capital side is even larger, according to the business-backed think tank, with between $ 700 million and $ 800 million per year needed to fund the $ 13 billion in infrastructure repair and maintenance and 7 billions of dollars in climate change investments that will be needed. by 2031.

Part of the problem for MBTA will be the lingering effects of the pandemic long after the virus is under control, MTF said.

Commuter train fares, according to MTF, accounted for $ 239 million or 36% of total MBTA fare revenue in fiscal 2019, but with more people working remotely, the foundation said it these totals were unlikely to fully recover from the pandemic.

Downing presented a plan to pay for its transportation program that would be based on a combination of higher gasoline taxes, congestion pricing, fees on Uber and Lyft journeys, and tax revenue from the ‘millionaires’ tax. Proposed, which will be on the 2022 ballot.

The Wealth Tax proposes to apply a 4% surtax on all household income over $ 1 million, which proponents say will generate up to $ 2 billion in new annual income that must be spent on transportation or education. If that passes, the competition for those dollars could be stiff with education advocates also considering investments in K-12 education and debt-free college.

The foundation said that even if Congress adopts a broad package of transport infrastructure, it “will not significantly change” the roughly $ 20 billion gap between available capital and the capital needed to repair infrastructure. existing systems, reduce greenhouse gas emissions and protect MBTA’s assets against sea level rise and storm surges. .

The transportation bill passed by the United States Senate would bring in up to $ 2.5 billion in Massachusetts over five years, according to MTF, but some estimates from the American Public Transit Association suggest that the greater Boston area would not receive that $ 370 million more over five years than it will be under the current authorization bill.

Further funds in the new federal package would be allocated through competitive grants, for which Transport Secretary Jamey Tesler recently said the state would be prepared to compete “aggressively”.

If state policymakers find the new revenue, they still won’t cover extended service options beyond the Green Line Extension, South Coast Rail, and Red-Blue Line Connector.

“This report exposed a stark reality. Patches and quick fixes cannot save enough time, nor can MBTA fix this problem,” the authors concluded.


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The best stimulus ever? – The New York Times https://bellowingark.org/the-best-stimulus-ever-the-new-york-times/ https://bellowingark.org/the-best-stimulus-ever-the-new-york-times/#respond Wed, 15 Sep 2021 11:51:00 +0000 https://bellowingark.org/the-best-stimulus-ever-the-new-york-times/ Debate over costs and effectiveness will determine whether government should spend billions more, as President Biden and many Democrats now want, to fund more permanent government aid programs. Critics, including many Republicans, can cite data showing an apparent decline in benefit per dollar spent as a reason to be cautious. But Arloc Sherman, an economist […]]]>

Debate over costs and effectiveness will determine whether government should spend billions more, as President Biden and many Democrats now want, to fund more permanent government aid programs. Critics, including many Republicans, can cite data showing an apparent decline in benefit per dollar spent as a reason to be cautious. But Arloc Sherman, an economist at the Center for Budget and Policy Priorities, said spending now could save money later. “I wouldn’t say the 2020 stimulus was a less effective stimulus,” he said. “But it could have been more efficient and effective if we had a comprehensive and well-designed security system in the first place. “

Gavin Newsom wins in a recall vote and will remain governor of California. According to the latest results, around 65% of voters said Newsom should stay in power, beating a Republican campaign that targeted his handling of the pandemic, especially business and school closures. Newsom said he was “humbled and grateful”.

Apple introduces a new line of iPhones, but no major advancements. The iPhone 13 is slightly faster than its predecessor, with a slightly larger screen and a better camera. The price is virtually unchanged, as with the new iPad and Apple Watch. More than 2 million people watched the unveiling on YouTube – Apple shares fell when it became clear that the updates were modest.

A former laboratory assistant to Theranos testifies in the trial of Elizabeth Holmes. Erika Cheung reported problems with lab tests at the company to federal agents in 2015. The whistleblower confirmed her complaints in court, testifying that the aberrant blood test results were suppressed to avoid quality control warnings . “I was uncomfortable processing patient samples,” she said.

A federal judge is temporarily preventing New York from requiring coronavirus vaccines for medical workers. A number of healthcare workers had sued the mandate, claiming it violated their constitutional rights because it had no religious exemptions. In Arizona, the state attorney general has filed a lawsuit to end a national vaccination warrant, while Los Angeles is being sued by six LAPD employees who claim that a vaccine requirement for city workers has created a “hostile working environment”.

Some of America’s biggest companies are announcing C-suite redesigns. Denis Coleman was named the new CFO of Goldman Sachs, shortly after Bank of America announced changes in its management team. In technology, Microsoft president and senior lawyer Brad Smith will become vice chairman of the board, and Uber CTO Sukumar Rathnam is leaving after just a year in the post, after s’ be bumped into the product manager.


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Boyce Council to Hold Public Hearing on ARPA Funds | https://bellowingark.org/boyce-council-to-hold-public-hearing-on-arpa-funds/ https://bellowingark.org/boyce-council-to-hold-public-hearing-on-arpa-funds/#respond Sat, 11 Sep 2021 04:00:00 +0000 https://bellowingark.org/boyce-council-to-hold-public-hearing-on-arpa-funds/ BOY – This is your chance to advise Boyce City Council on a money matter. At 7 p.m. on Oct. 5, the board will consider amending the current fiscal year budget to include the American Rescue Plan Act (ARPA) funds received. A public hearing will be held to get residents’ feedback on how the money […]]]>

BOY – This is your chance to advise Boyce City Council on a money matter.

At 7 p.m. on Oct. 5, the board will consider amending the current fiscal year budget to include the American Rescue Plan Act (ARPA) funds received. A public hearing will be held to get residents’ feedback on how the money should be spent.

The hearing will be held in the Boyce Volunteer Fire Company Social Hall on Greenway Avenue as part of the regular monthly council meeting.

ARPA funds are intended to compensate communities for the hardships they have suffered as a result of the COVID-19 pandemic and the resulting economic fallout.

Boyce will receive $ 108,832.50 in the current fiscal year, plus an equal amount in the next, for a total of $ 217,665, according to chief executive David Winsatt.

Local officials were told earlier this year to expect an ARPA allowance of $ 569,834 for Boyce. They were then informed by the federal government, as the Winchester Star reported in July, that the city would only receive $ 97,665. The reduction was due to the cap on allocations to small communities. They could receive amounts not exceeding 75% of their operating budgets for fiscal 2020, which ended on June 30.

Winsatt said officials have since learned that Boyce’s stimulus funds will increase following the development of a capital improvement plan.

The current year’s allocation should be used for expenses directly related to COVID-19 and / or stormwater improvements, Winsatt said. Next year’s allocation can be used for other types of infrastructure improvements, he said.

As for specific uses, “everything is up for discussion,” he says Winsatt.

It is important that residents participate in the discussion, he said, because “different people see things in different ways”.

The city may have needs that authorities are not yet realizing, but residents have noticed, he added.

In other board business:

Bids are being solicited from contractors for snow removal from the streets next winter. Winsatt said the previous contractor was no longer interested in providing the service.

Overdue tax notices must be mailed to residents by the end of September.

The city’s next newsletter was emailed to residents earlier this week. Residents whose email addresses are not available in the city will receive a copy by mail around September 14, Winsatt said.


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Labor Day is meant to honor the contribution of the working class to the American economy https://bellowingark.org/labor-day-is-meant-to-honor-the-contribution-of-the-working-class-to-the-american-economy/ https://bellowingark.org/labor-day-is-meant-to-honor-the-contribution-of-the-working-class-to-the-american-economy/#respond Wed, 08 Sep 2021 10:45:00 +0000 https://bellowingark.org/labor-day-is-meant-to-honor-the-contribution-of-the-working-class-to-the-american-economy/ This is a column by Kyle Wingfield, president and CEO of the Georgia Public Policy Foundation, with a libertarian lean. As we tick off another Labor Day, it’s fair to wonder if this really is another Labor Day. The holiday honoring workers stems from the Industrial Revolution, when working conditions in America’s burgeoning assortment of […]]]>


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The proof is in the economy | Columns https://bellowingark.org/the-proof-is-in-the-economy-columns/ https://bellowingark.org/the-proof-is-in-the-economy-columns/#respond Sat, 04 Sep 2021 09:00:00 +0000 https://bellowingark.org/the-proof-is-in-the-economy-columns/ Cut taxes for the rich and refuse to help the desperate, the hungry and the homeless. Give it to them and the economy will be boosted. The proof is in the economy that the taxpayer funds paid to those at the top are not flowing. Those at the top have proven time and again that […]]]>

Cut taxes for the rich and refuse to help the desperate, the hungry and the homeless. Give it to them and the economy will be boosted.

The proof is in the economy that the taxpayer funds paid to those at the top are not flowing. Those at the top have proven time and again that the bottom doesn’t matter to them. When President Obama bailed out the many companies, most of us remember the crazy spending and the parties they threw. Once the dust settled, they decided to increase the salaries of the best CEOs. Nothing has been learned from this, it seems.

We probably all remember the big tax cut for the rich in 2017. A member of Trump White House called a meeting and asked attendees to raise their hands if they wanted to make sure the tax breaks were delivered. shared with their employees. Out of hundreds of people, only two hands were raised. The trickle-down effect doesn’t work when it comes to the top 10% holding the bag of money.

The proof is present today. The economy surged in leaps and bounds after Congress passed the stimulus bill for the poor and lower middle classes. Without the coronavirus, more evidence would be visible. This stimulus money did exactly what it was supposed to do. It boosted the economy.

Some of the effects are obvious, others hidden, and many become clearer as we examine their personal financial forms. There was no shame. Trump told businessmen just before the bill was passed that he was going to do something big for them, and he did. He made sure that the 35% tax they had to pay was reduced to 21% or less.

Now we get a little closer to the crowd and hear the cry of the poor, the sick, the old, the children, the marginalized and the underserved calling for help with rent, food, medicine, health care and school supplies. And those same Republicans – who a few years earlier controlled the House Ways and Means Committee and the Senate Finance and Budget Committees – shouted, “No, we can’t give this group anything.” They should go out and work for what they need. (I remind you now that many of them have two jobs and still can’t make ends meet.)

A majority of Democrats have heard the cry and called on Republicans to join forces and lend a hand to these people. The answer was “No, the deficit is already too high. (Recall the big tax cut for the rich a few years ago.) The ‘no’ was followed by Senator Mitch McConnell’s famous question: “How are we going to pay for this?”

Democrats had to go it alone without any Republican feeling the pain and suffering of citizens crying for help. They received a single stimulus spread over a six-month period totaling $ 3,000 or less, depending on family size. Families had to use the money to stimulate the economy.

The 2017 tax cut was a lifelong gift to the rich. What has he done to stimulate the economy? This money is earning dividends and interest somewhere.

The 2017 tax cut did what it was designed to do. He widened the gap between the rich and the poor.

Willie Mae Samuel is playwright, founder and director of the African American Connection of the Performing Arts Inc. and winner of the Heart of the Community Award 2020. She can be contacted at artsnow2019@gmail.com.


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Stimulus checks: some states issue checks and bonuses to millions of residents https://bellowingark.org/stimulus-checks-some-states-issue-checks-and-bonuses-to-millions-of-residents/ https://bellowingark.org/stimulus-checks-some-states-issue-checks-and-bonuses-to-millions-of-residents/#respond Wed, 01 Sep 2021 11:30:58 +0000 https://bellowingark.org/stimulus-checks-some-states-issue-checks-and-bonuses-to-millions-of-residents/ Nearly $ 1 trillion in federal aid sent to U.S. households through three stimulus checks is credited with reducing poverty and helping millions of families overcome the pandemic. But with the COVID-19[female[feminine With the Delta variant spreading across the country, some states are also preparing to distribute payments. A handful of states are using their […]]]>

Nearly $ 1 trillion in federal aid sent to U.S. households through three stimulus checks is credited with reducing poverty and helping millions of families overcome the pandemic. But with the COVID-19[female[feminine With the Delta variant spreading across the country, some states are also preparing to distribute payments.

A handful of states are using their own stimulus funds or surpluses to help specific residents, such as low-income households or teachers, with direct aid reaching more than 25 million people as of this month.

At the same time, many households have already spent the third stimulus check, which the IRS began distributing in March. Another development that could weigh on people’s incomes, unemployment benefits in the event of a pandemic should end on September 6. eliminate 7.5 million unemployed off the rolls.

About one in four households in the United States struggled to pay their expenses in the past week, according to census survey data from late July to early August.

“People were counting on a 100% return to normal now, and we’re not there yet,” Andrew Stettner, unemployment expert at the left-wing Century Foundation, said of the economic recovery.

While some federal lawmakers have launched the idea of ​​a fourth stimulus check, this is not considered likely at this time given that the White House is focused on its infrastructure proposals. The Biden administration also said it will not prolong unemployment beyond September 6, although officials noted that states could use stimulus funds to expand their own programs.

Below are a few of the states that send checks to certain residents.

California: up to $ 1,100 in “Golden State Stimulus”

California to begin distributing checks of up to $ 1,100 to approximately 25 million residents from August 27 as part of an effort to provide support to low- and middle-income families in the state . This is the second stimulus check issued by the state.

This is important because whether a family received the first check will determine how much they receive on the second payment. People who received the first check but have no dependents will not be able to claim any payment, according to the state. However, if you received the first check and you also have a dependent, you will receive $ 500.

The largest payments – $ 1,100 – will go to those who did not receive the first check and who also claim at least one dependent. People who have not received one of the previous checks and have no dependents will receive $ 600. (To see if you qualify and estimate how much you will receive, use this estimate calculator through the Franchise Tax Board.)

About two-thirds of California’s 39 million people – roughly 25 million people – are expected to be eligible for the payments, which are available to residents of the state whose adjusted gross income was less than $ 75,000 in 2020. To claim the payment, residents must file a 2020 state income tax return form by Oct. 15, according to the State of California Franchise Tax Board.

California Governor Gavin Newsom said the stimulus effort represents the “largest state tax refund in US history,” with $ 12 billion in funds distributed to residents.

Maryland: $ 300 to $ 500 for low-income residents

Maryland authorized stimulus checks earlier this year, but with a catch: Payments are only available to those who have claimed the Earned Income Tax Credit (EITC) on their tax returns. The EITC is a tax credit for low and modest income earners.

For example, a married couple with two children is only eligible if their income is less than about $ 53,000, according to the state of Maryland. Individuals will receive $ 300, while couples filing jointly will receive $ 500.

The deadline for filing a tax return to receive the check was July 15, so it may be too late for some residents to qualify if they missed that date.

Florida: $ 1,000 for teachers

Governor Ron DeSantis earlier this year approved bonuses of $ 1,000 for the state’s more than 170,000 teachers and principals at its K-12 public schools and charter public schools. The funding comes from $ 216 million in federal stimulus funds, according to CBS Miami.

Checks started landing in mailboxes earlier this month, the Florida Education Association said. DeSantis said the checks are “a token of appreciation” for teachers who worked during the pandemic.

DeSantis is issuing the checks amid controversy over its handling of the pandemic, including Florida’s ban on mask requirements in schools. Despite his position, just over half of Florida’s 2.8 million public school students now face warrants to wear masks in classrooms.

While many teachers may appreciate the vouchers, the Florida Education Association has condemned DeSantis’ bonuses, saying the program takes control away from local schools and school districts have returned the money to teachers faster.

Texas: bonuses of up to $ 2,000 for teachers

Many teachers in Texas will receive bonuses at the start of the school year, reports CBS Dallas Fort-Worth. However, rather than a statewide effort, the bonuses were approved by individual school districts, including Irving and Denton, Texas, the station reported.

Returning teachers in Irving, Texas will receive a one-time payment of $ 2,000, while employees in Denton, Texas will receive a retention bonus of $ 500. Other school districts have approved salary increases, as part of an effort to reward teachers for their efforts to switch to distance learning during the pandemic.

Previous state stimulus efforts

Other states have already issued stimulus checks with their pandemic funds, such as Colorado, which in December issued checks for $ 375 to more than 400,000 residents who had applied for unemployment benefits during the pandemic. Other states and locations that have provided pandemic relief to residents include New Mexico, Washington, DC and Vermont.


Child Tax Credits Land in Action …

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Meanwhile, around 70 million households receive monthly checks through December through the Extended Federal Child Tax Credit, which provides up to $ 300 per child. This money helps families with children pay for basic necessities such as food, school supplies and clothing, according to an analysis of census data from the Left Economic Security Project.


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