#tax-revenue

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#government-spending
from 24/7 Wall St.
2 days ago

America's National Debt Is Surging - but These Countries Look a Lot Worse

The U.S. national debt stands at $35.8 trillion, with increasing expenditures outpacing revenue, driven largely by healthcare and social benefits.
from www.npr.org
6 months ago

Tax revenue jumps 22% in April. But US deficit still looms large

US Treasury ran a surplus in April due to a 22% increase in tax payments, but is still projected to have a deficit over $1.5 trillion for the year.

America's National Debt Is Surging - but These Countries Look a Lot Worse

The U.S. national debt stands at $35.8 trillion, with increasing expenditures outpacing revenue, driven largely by healthcare and social benefits.

Tax revenue jumps 22% in April. But US deficit still looms large

US Treasury ran a surplus in April due to a 22% increase in tax payments, but is still projected to have a deficit over $1.5 trillion for the year.
moregovernment-spending

UK must prepare for widespread road pricing, says infrastructure tsar

Britain needs to adopt road pricing to offset a projected £35 billion tax revenue shortfall from the transition to electric vehicles.
from www.nytimes.com
1 month ago

A Patchwork of Cannabis Laws Creates Health Risks, Study Finds

The fragmented legal status of cannabis in the U.S. prioritizes tax revenue over public health, necessitating a unified health response.
#economic-impact

Con Edison: Doing more than keeping the lights on

Con Edison significantly impacts New York's economy, contributing $22.6 billion and supporting thousands of jobs.
The company's fiscal contributions are crucial for funding local services, demonstrating its economic importance.

Labour is putting the UK economy at risk by continuing to back Brexit, Rejoin EU Party says - London Business News | Londonlovesbusiness.com

Labour's refusal to re-join the EU could lead to billions in needed revenue being lost, impacting the economy.

San Jose cannabis dispensary opens in downtown - San Jose Spotlight

San Jose opened its first cannabis retail store in downtown, bringing positive impact to the community and contributing significantly to the city's revenue.

The average bonus on Wall Street last year was $176,500. That's down slightly from 2022.

Average Wall Street bonus dipped slightly to $176,500
Wall Street profits were up 1.8% last year

Con Edison: Doing more than keeping the lights on

Con Edison significantly impacts New York's economy, contributing $22.6 billion and supporting thousands of jobs.
The company's fiscal contributions are crucial for funding local services, demonstrating its economic importance.

Labour is putting the UK economy at risk by continuing to back Brexit, Rejoin EU Party says - London Business News | Londonlovesbusiness.com

Labour's refusal to re-join the EU could lead to billions in needed revenue being lost, impacting the economy.

San Jose cannabis dispensary opens in downtown - San Jose Spotlight

San Jose opened its first cannabis retail store in downtown, bringing positive impact to the community and contributing significantly to the city's revenue.

The average bonus on Wall Street last year was $176,500. That's down slightly from 2022.

Average Wall Street bonus dipped slightly to $176,500
Wall Street profits were up 1.8% last year
moreeconomic-impact

Tanaiste Micheal Martin says Apple windfall tax money could 'future proof' housing and water supply

Ireland plans to use €14 billion from Apple for housing and infrastructure investment, addressing urgent needs in the country.

Reeves can point to ONS public finances report as cover for a harsh budget

Reeves is using public finance data to justify a stringent budget amid rising borrowing and spending concerns. Significant fiscal caution is warranted.
#new-york

NY's legal weed sales are smokin' hot, surpass half a billion dollars thanks to rogue-shop crackdown

New York's legal cannabis sales have surpassed $500 million, significantly boosted by a crackdown on illegal vendors.

Editorial Roundup: New York

New York state collected $862 million in taxes on mobile sports wagers in its second year of operation.
New York has nine of the top 10 all-time monthly sports handles nationwide.

NY's legal weed sales are smokin' hot, surpass half a billion dollars thanks to rogue-shop crackdown

New York's legal cannabis sales have surpassed $500 million, significantly boosted by a crackdown on illegal vendors.

Editorial Roundup: New York

New York state collected $862 million in taxes on mobile sports wagers in its second year of operation.
New York has nine of the top 10 all-time monthly sports handles nationwide.
morenew-york

Cannabis tax revenue in Town of Babylon has former critics changing their tune

Dispensaries in Babylon town are generating significant tax revenue from cannabis sales. Supervisor allocated funds to treatment and prevention programs.
#new-york-city
from New York Post
3 months ago
Canada news

NY officials want to ease buffer rule to open more pot shops: 'They must be stoned'

Consideration of loosening regulations for more cannabis shops in NYC neighborhoods faces opposition due to lack of clear criteria and concerns over excessive density.

NYC Tourism Approaches Full Recovery From Pandemic, DiNapoli Says

New York tourism sector nearing pre-pandemic levels, with spending and tax revenue surpassing previous records.

Mayor Adams Reveals Beefier Budget Than Expected

Mayor Eric Adams announced the proposed budget for Financial Year 2025.
Adams revealed a budget for Fiscal Year 2025 vastly different than what he had predicted.

NYC Mayor Adams' next budget will include more revenue - and more cuts, say experts

New York City has exceeded expectations in tax revenue and cut migrant costs by 20%. Funding previously slashed from city agencies has been restored.
The exact impact of these developments on the city's next budget is still unclear, but it is expected to show an increase in revenue. Mayor Adams will unveil the budget details on Tuesday.

NYC Council, Adams administration battle it out over Big Apple's budget

The city administration and lawmakers in New York City are clashing over the city's budget, with officials claiming the migrant crisis has strained finances while some council members argue that tax revenue is higher than reported.
During an oversight hearing, City Budget Director Jacques Jiha defended the administration's cuts, stating they were necessary due to the cost of housing asylum seekers, while the Council disputed the need for the cuts and suggested the city would collect more taxes than projected.

NY officials want to ease buffer rule to open more pot shops: 'They must be stoned'

Consideration of loosening regulations for more cannabis shops in NYC neighborhoods faces opposition due to lack of clear criteria and concerns over excessive density.

NYC Tourism Approaches Full Recovery From Pandemic, DiNapoli Says

New York tourism sector nearing pre-pandemic levels, with spending and tax revenue surpassing previous records.

Mayor Adams Reveals Beefier Budget Than Expected

Mayor Eric Adams announced the proposed budget for Financial Year 2025.
Adams revealed a budget for Fiscal Year 2025 vastly different than what he had predicted.

NYC Mayor Adams' next budget will include more revenue - and more cuts, say experts

New York City has exceeded expectations in tax revenue and cut migrant costs by 20%. Funding previously slashed from city agencies has been restored.
The exact impact of these developments on the city's next budget is still unclear, but it is expected to show an increase in revenue. Mayor Adams will unveil the budget details on Tuesday.

NYC Council, Adams administration battle it out over Big Apple's budget

The city administration and lawmakers in New York City are clashing over the city's budget, with officials claiming the migrant crisis has strained finances while some council members argue that tax revenue is higher than reported.
During an oversight hearing, City Budget Director Jacques Jiha defended the administration's cuts, stating they were necessary due to the cost of housing asylum seekers, while the Council disputed the need for the cuts and suggested the city would collect more taxes than projected.
morenew-york-city

States that legalized online sports betting saw bankruptcies and debt collections jump, study says

Online sports betting's rise is linked to increased consumer stress, impacting financial health negatively.

Skelton: California's budget relies on richest taxpayers and we're paying the price

California's state budget is heavily reliant on the stock market, leading to significant deficits when market crashes occur.

More enforcement tools to fight illegal pot sales part of budget

Policy measures agreed to help shut down illegal cannabis shops in New York City.
Licensed vendors struggle with competition from illicit cannabis shops due to lower prices and lack of regulation.

NYC comptroller ripped after claiming free lawyers for migrants will boost economy: 'King panderer'

Providing free legal representation to migrants in NYC could yield economic benefits.
Access to work authorization for migrants can lead to higher tax revenue and economic growth.

Opinion: Spenger's parking lot deal shows Berkeley has a leadership crisis

The fate of Berkeley's controversial parking lot was resolved in a complex deal involving $1.5 million from the general fund.
The deal raises questions about the City Council's approach to solving critical city issues and the impact on affordable housing and tax revenue.

Assembly Dems resist crackdown on New York's illegal pot shops in budget

State legislation aims to crack down on unlicensed pot shops with bipartisan support.
Fiscal impact of unlicensed cannabis shops includes loss of tax revenue and consumer risks.

IRS Estimates $561B Tax Revenue Rise With Crackdown on Corporations and the Rich

The IRS could collect up to $561 billion in additional tax revenue between 2024 and 2034, thanks to increased funding and new initiatives enabled by the 2022 Inflation Reduction Act.
If lawmakers renew and expand the IRA funding, the IRS could collect an additional $851 billion in tax revenue over the next decade.
The increase in funding for the IRS is directly attributed to the $80 billion passed by Democrats, which Republicans opposed.

Indonesia's Crypto Tax Revenue Falls 63% in 2023 Despite Bitcoin's Surge

Indonesia's tax revenue from crypto in 2023 was $31.7 million.
Crypto transactions in Indonesia are subject to dual taxation.

LaFortune: You will likely never see these ads - San Jose Spotlight

San Jose's digital ads were viewed more than 145 million times and received 9 million clicks.
The city uses digital advertising to promote itself as a convention, meetings, and tourism destination to drive tax revenue and fund the Office of Cultural Affairs and general fund.

Chicago Casino Taxes Fall Short Of Projections By Almost $10 Million

Tax revenue from the temporary casino in Chicago has fallen short of projections, creating a significant shortfall for the city.
The Bally's temporary casino has only yielded $30 million in revenue since September, well below the projected $12.8 million.

Short-term rentals come under Tourism Commission scrutiny, with Council action expected this year - Austin Monitor

Members of the Tourism Commission are pushing for new policies to regulate short-term rentals in Austin.
The lack of action by the City Council has led to over 13,000 unlicensed short-term rentals in the city.

N.Y.P.D. Will Not Face Budget Cuts After All, Adams Says

New York City is restoring funding to the police department and hiring new recruits after initially announcing a hiring freeze.
The decision to restore funding is due to better-than-anticipated tax revenue and reduced spending on care for migrants, according to Mayor Eric Adams.

Kovacevich: California's social safety net depends on a healthy tech industry - San Jose Spotlight

California's budget deficit expected to reach $73 billion in the next fiscal year.

Which Online Gaming State Brings In The Most Tax Revenue?

Legal online gaming has significantly contributed to tax revenue in states like Pennsylvania and New Jersey, funding public services and infrastructure.

Metro COO recommends changes to homeless services tax program

Metro Council considering proposal to expand Supportive Housing Services funding.

Half could move children out of private education and into state schools if 20% VAT is added to school fees - London Business News | Londonlovesbusiness.com

24% of parents/grandparents consider moving children from private to state schools if 20% VAT imposed on fees.
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