Democrats continue negotiations on a budget bill. There’s still no deal in sight, though talks continue between Senate Democratic Leader Chuck Schumer and holdout colleague Joe Manchin, who says fighting inflation now is his top priority. Roll Call reports that “the passage of time may not have increased [fellow holdout Kyrsten] Sinema’s fondness for the bill.” While Manchin reportedly is working with Schumer on a compromise, Sinema may have lingering concerns.
Congressman proposes a 1,000 percent tax on semi-automatic weapons. House Ways & Means Committee member Don Beyer of Virginia believes the tax could be a “creative pathway” to sensible gun control. He said “a 1,000 percent fee on assault weapons is just the kind of restrictive measure that creates enough fiscal impact to qualify for reconciliation.” Thus, it could pass with just Democratic votes. Beyer’s proposed tax would increase final prices to between $5,000 and $20,000, perhaps discouraging some consumers from buying. But would that drive buyers to unregulated sales?
Perhaps a gas tax holiday in West Virginia… or taxing limits in South Dakota. Gov. Jim Justice may call a special session of the legislature to consider a gas tax holida funded by excess American Rescue Plan Act dollars. In South Dakota, voters will decide today whether to add a provision to the state constitution that would make it more difficult to pass ballot measures that raise taxes or significantly expand government funds.
New York State mails property tax rebate checks early, and just in time… The state started distributing homeowners tax rebate checks last week, even though it initially planned to send them out before school taxes are due in the Fall. One reason for the speedup: The first round of primary elections for the New York State Assembly and other statewide races — including gubernatorial primaries — takes place on June 28. Rebate checks include a note: "Gov. Hochul and the New York State Legislature are providing you this.”
Utah dentist sentenced to federal prison for $1.8 million in tax evasion. The Justice Department says the dentist was sentenced to five years in prison for evading more than $1.8 million in federal income tax between 1998 and 2014 and obstructing IRS attempts to collect the money. He filed false liens against his own properties and false corporate income tax returns.
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