Finance

New Jersey Leaders Agree On Deal to Hike Taxes on Millionaires

Governor Phil Murphy and top Democratic lawmakers announced plans on Thursday for a higher tax rate on incomes between $1 million and $5 million. The bulk of the revenue from the tax increase would cover the cost of a new middle class tax break.

Young People Fueling a Pandemic Rise in Freelancing, Report Says

A survey of American workers revealed that young people between ages 18 to 22 are increasingly picking up freelancing.

Momentum for Basic Income Builds as Pandemic Drags On

Advocates see an opportunity to transform the safety net.

New York Tax On Opioid Drug Makers Revived By Federal Appeals Court

A ruling by the 2nd U.S. Circuit Court of Appeals overturns a lower court decision that axed a state tax that would require drug companies to pay hundreds of millions to help cover the cost of the state’s response to the opioid epidemic.

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Eliminate Manual Processes Route and Approve Invoices from Anywhere

Today’s finance teams carry a heavy burden, supporting everything from growth strategies to long-term planning – all while continuously delivering monthly and quarterly numbers and keeping cash flowing. But even as demands on finance departments grow, many still spend excessive time using paper, spreadsheets, and e-mails to process vendor invoices, approvals, and payments.

Extra $300 Unemployment Benefit Coming to End as Money Runs Out

President Trump took executive action to extend the benefit after an earlier federal program that provided $600 a week lapsed.

Governors Plead with Congress for Help as Senate Rejects Skinny Relief Bill

As Democratic governors testified before the House Committee on Financial Services, the Senate rejected a pared-back coronavirus relief proposal.

Senate to Vote on Slimmed-Down Coronavirus Relief Bill This Week

Senate Majority Leader Mitch McConnell introduced the legislation Tuesday and said the Senate will hold a vote on it this week.

Local Governments Add Some Jobs in August, But State and Local Payrolls Still Way Down

State and local governments have about 1 million fewer employees than they did a year ago.

Legal Experts Say Trump’s Push to Defund ‘Anarchist’ Cities Would Face Difficulty in Court

The president lost several legal battles in attempting to enforce a previous order to restrict so-called “sanctuary cities” from receiving federal grants.

Why Public Sector Employee Worries about Finances Should Worry Us All

COMMENTARY | As Covid-19 puts increased financial strain on the state and local government workforce, employers must find innovative approaches to shore up workers' financial security. Otherwise, vital services and programs delivered to communities throughout the nation could be at risk.

California Legislature Passes 'Clean-Up' Bill to Allow Musicians and Other Freelancers to Continue Gig Work

STATE AND LOCAL NEWS ROUNDUP | Big kindergarten enrollment drop in Los Angeles … Mayor slammed for dining indoors in another state when not allowed in his city … New Jersey bill could allow police officers to take gunshot victims to hospital.

Senate Republicans’ Revamped, Scaled-Back Coronavirus Bill Expected Next Week

But Democrats and Republicans are still far apart on inclusion of money for state and local governments.

Cuomo, Union Leaders Call on Congress to Provide New York $59 Billion in Aid

They say the state and its local governments are in an “impossible financial situation” because of the financial fallout from the coronavirus pandemic.

Fight Against Fraud Slows Payments to Unemployed

Generous states that acted quickly are juicy targets for fraudsters.

New Unemployment Benefits Could Take Weeks to Distribute

Thirty-two states have been approved for the federal unemployment program, but only four states have begun issuing the $300-a-week benefits.

In New Jersey, a Proposal for $1,000 ‘Baby Bonds’

Gov. Phil Murphy, who proposed the program on Tuesday, said it would be the first statewide initiative of its kind. But the added spending would come at a time when the state’s budget is strained.

Pennsylvania Governor Suggests Selling Marijuana Through State-Run Stores

Gov. Tom Wolf isn’t the first governor to recently float state-operated marijuana retail. Pennsylvania currently runs hundreds of wine and liquor shops.

The Pandemic Recession Is Approaching a Dire Turning Point

Without an extra $600 a week in unemployment assistance, many Americans are on the brink of not being able to pay rent or put food on the table.

Higher Rents Associated with Increase in Homelessness, Federal Watchdog Finds

The Government Accountability Office report comes amid concerns about evictions, as the coronavirus outbreak takes a financial toll on many Americans.

Saving in Times of Crisis: How People with Disabilities Can Increase Financial Stability

COMMENTARY | Americans with disabilities should consider depositing stimulus payments they receive from the federal government into ABLE savings accounts that maximize their impact.