The bill stripped the Manchin provision. The Senate held a procedural vote late yesterday to advance the government funding resolution that will keep the government open through Dec. 16, but left out Sen. Joe Manchin’s (D-WV) permitting reform plan.
President Biden’s loan forgiveness plan faces a tax-related court challenge. A public interest lawyer in Indiana is suing to block the Biden administration’s plan to forgive some student loan debt. The lawyer, who works for the Pacific Legal Foundation, which backs the suit, argues that the plan forces him to pay state taxes on the forgiven amount of his debt. They argue that the executive branch has no authority to create the loan forgiveness policy and usurp the legislative branch.
Will local governments in Texas raise enough revenue? Inflation is affecting budget preparations in municipalities across the state. Even though home values have soared, Texas law prevents local governments from raising property tax revenues beyond 3.5 percent without voter approval, and school districts are limited to 2.5 percent growth in tax revenue each year.
Meanwhile, Oklahoma Senate does not plan to cut taxes. The GOP-controlled Senate, despite pressure from Republican Gov. Kevin Stitt, will not consider eliminating Oklahoma’s grocery tax or cutting the income tax during the special legislative session that begins today.
King County and Seattle officials will ask for a new property tax in April. Revenue from a new property tax would fund mental and behavioral health services and regional health crisis centers. The tax, which would go into effect in 2024, would raise as much as $1.25 billion over ten years. It would cost the median-value homeowner an estimated $121 a year.
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