Richardson speaks on budget cuts [www.clipsyndicate.com | KRQE CBS 13 Albuquerque]
Private and household consumption rebounds in South Korea. (The Trade) [www.clipsyndicate.com | Bloomberg]
Business Secretary alligns himself with the Government's tax policy and growth strategy [www.clipsyndicate.com | Press Association UK]
winter acts buzz [www.clipsyndicate.com | WVBT FOX 43 Hampton Roads]
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Papaconstantinou Says Greece Needs No Aid to Fix Deficit: Video
Jan. 6 (Bloomberg) -- Greek Finance Minister George Papaconstantinou talks with Bloomberg's Judith Bogner about efforts to cut the country's budget deficit. Papaconstantinou, speaking from Athens, also discusses Greece's bond program and today's visit by European Union officials to scrutinize the government’s tax and spending proposals. (Source: Bloomberg) [www.clipsyndicate.com | Bloomberg]
01/06/10 The Internal Revenue Service plans to regulate tax preparers across the U.S. The agency announced new requirements, including registration and competency exams. [www.clipsyndicate.com | New York Financial Press]
A woman throws a fit at a McDonald's restaurant in Kansas City after employees refuse to refund her money. [www.clipsyndicate.com | KVVU FOX 5 Henderson, NV]
While the signs on Albuquerque's parking meters say they're enforced Monday through Saturday, parking enforcement officers don't work on Saturdays, and the city's new mayor said he may keep the policy going. [www.clipsyndicate.com | KRQE CBS 13 Albuquerque]
Gov. Bill Richardson on Tuesday released his plan for covering the state's huge budget deficit, including a pledge to work with lawmakers finding $200 million in temporary state tax increases and another 3 percent cut to state agencies. [www.clipsyndicate.com | KRQE CBS 13 Albuquerque]
Parents packed into meetings in two area school districts, where major cuts could be the answer to big deficits. Click on the headline for the full report. [www.clipsyndicate.com | WLUK FOX 11 Green Bay]
Five hundred million dollars in state spending cuts isn't going to balance the New Mexico budget for next year, leaving Governor Richardson considering raising taxes to fund more than $200 million of the projected shortfall. People could see a hike in gross receipts taxes, new taxes on cigarettes, booze, and even groceries. Senator Sander Rue says the state should keep looking for other ways to cut spending and curb government inefficiency before hiking taxes for people already struggling to make ends meet. "I am really going to be very critical of any plans that will ask working families and businesses to pay more because they simply can't afford it right now," said Senator Rue. The governor's office says there is an alternative to raising taxes: shut down prisons, close heath facilities, and layoff teachers. A spokesperson for the governor said he will try to avoid those things at all cost. If there is a bright spot to these possible tax hikes, it’s that the governor is hoping tax hikes won't be needed for long. "The governor wants that to go away when the economy rebounds … in the meantime [he] insists on balancing the budget and this is the best course," said Gilbert Gallegos, spokesperson for the governor. The governor's office is already saying it does not want to repeal tax cuts that benefit wealthy New Mexicans or businesses, citing those cuts have stimulated the economy. As part of his $500 million in spending cuts, the governor is proposing a 3% cut for all state agencies. He also plans to cut $150 million in stalled capital outlay projects and is thinking about eliminating 1000 vacant state jobs. [www.clipsyndicate.com | KOB Albuquerque]
Albuquerque public schools are already facing an $11.6 million shortfall which school district officials will make up for using stimulus money, and cutting another one million at the administrative level. But the stimulus dollars will not save APS from what the state could end up doing. APS superintendent Winston Brooks is not sure what the governor will decide to do when it comes to cutting education budgets all across the state, but he knows the public schools can't handle further reductions "If there are further cuts that have to be made, we're definitely going to start impacting classrooms." said the superintendent. Brooks says if the proposed the state's cuts pass, a $40 million shortfall for APS would result, and drastic measures would have to be taken "We're going to see larger class sizes, we're going to see fewer support staff, we may see dirtier buildings because we don't have the custodial staff, “ Brooks said, citing a few examples. The superintendent does not want state lawmakers to dictate how APS should make cuts. He says if education must be cut further then allow the school district and the school board to determine important spending. Brooks is completely against the state's legislative finance committee proposal of cutting teacher salaries by two percent. Brooks says that will further cause low morale among teachers. "The other frustrating thing about all of this is there is an expectation that we improve this school district, and now we're being told, well, improve the school district, but we're going to reduce your budget dramatically, or we're going to ask your teachers to work for less,” said Brooks. The superintendent continues to meet with state lawmakers over the issue and plans to be up in Santa Fe when the legislative session starts in a couple of weeks. [www.clipsyndicate.com | KOB Albuquerque]
Pending home sales dropped 16 percent across the country in November, but real estate agents say don't panic. Home sales typically slow down at the end of the year. Another key factor is the extension of homes sales tax credits through July. [www.clipsyndicate.com | WOFL FOX 35 Orlando, FL]
BOSTON - The Massachusetts high court has rejected a renewed bid by a county sheriff to charge inmates fees for haircuts, medical visits and high school equivalency tests.The fee program by Bristol County Sheriff Thomas Hodgson raised $750,000 from 2002 to 2004, but outraged inmate advocates who said the fees violated their constitutional rights and amounted to an unlawful tax. [www.clipsyndicate.com | WFXT FOX 25 Boston, MA]
Could this announcement nudge Governor John Hoeven into the race for U.S. Senate? Hoeven is not making any comments to us tonight... However his party says they hope this clears the way for Hoeven to get into the race... Republican Party leaders say they are not shocked to hear Senator Dorgan will not run in 2010. Political Director Adam Jones says the tax and spend agenda in Washington is making Democrats vulnerable across the nation. Jones says Dorgan has been loosing ground to Governor Hoeven who hasn't even announced he's running for the Senate seat... (Adam Jones / ND Republican Party) "Polls show that he's loosing by 22 points. Six months previous he was loosing by 18... By Governor not doing anything and by Senator Dorgan going down the path he was he managed to loose four points on top of htat.. Definately the poll numbers played into Senator Dorgan's decission to step down." Governor Hoeven has been the most talked about potential republican candidate for the Senate race. Although Hoeven has said he is thinking about running but has no timeline to make a decission... (Adam Jones) "Not any closer than where we were before the news... This has been family decission. He's a father and husband before public servant and we'll patiently sit back and wait for him to make that decission." Jones says Republicans do have others besides Governor Hoeven interested in the race. Republicans need to have a candidate before their party convention March 19th... [www.clipsyndicate.com | KXMB CBS Bismarck North D]
With the announcement from Byron Dorgan, North Dakota Republican Governor John Hoeven says he's "seriously" considering a U.S. Senate race, and he'll make up his mind soon. Up to now, Hoeven has brushed aside questions about a Senate candidacy with a statement that he was focused on his job as governor. Hoeven told the Associated Press Tuesday that he'll announce his ententions within a couple of weeks. Republican Party leaders say they hope this clears the way for Hoeven to enter the race. Political Director Adam Jones says the tax and spend agenda in Washington is making Democrats vulnerable across the nation. Jones says Dorgan has been losing ground to Governor Hoeven who hasn't even announced he's running for the Senate seat. (Adam Jones / ND Republican Party) "Polls show that he's loosing by 22 points. Six months previous he was loosing by 18... By Governor not doing anything and by Senator Dorgan going down the path he was he managed to loose four points on top of htat.. Definately the poll numbers played into Senator Dorgan's decission to step down." Governor Hoeven has been the most talked about potential republican candidate for the Senate race. Until now, Hoeven has said he is thinking about running but has no timeline to make a decision. (Adam Jones) "Not any closer than where we were before the news... This has been family decission. He's a father and husband before public servant and we'll patiently sit back and wait for him to make that decission." Jones says Republicans do have others besides Governor Hoeven interested in the race. Republicans need to have a candidate before their party convention March 19th. [www.clipsyndicate.com | KXMC CBS Bismarck North ]
Making sure you get the money you deserve during tax season [www.clipsyndicate.com | KOKI Fox 23 Tulsa]
This winter, the state wants to remind low-income New Mexicans that they can still sign up for help to keep their homes warm. The Low Income Home Energy Assistance Program (LIHEAP) provides families in New Mexico with a one time benefit. This year, that benefit averages about $154 per household. Nearly 32,000 low income families have registered for the help. To qualify for the program, a household must make about $33,000 or less a year. Last year about the same number of households registered for the heating assistance program, but the average payment was twice as much—an average of $309 per household. For more information, go to New Mexico Gas Company’s website [www.clipsyndicate.com | KOB Albuquerque]
Jan. 6 (Bloomberg) -- Pu Yonghao, chief Asian investment strategist at UBS Wealth Management, talks with Bloomberg's Bernard Lo about the impact of global stimulus measures on China's economic growth. (Excerpt. Source: Bloomberg) [www.clipsyndicate.com | Bloomberg]
Just over 1-point-4 million Americans filed for bankruptcy last year. [www.clipsyndicate.com | WWLP NBC 22 Springfield M]
The company that ownes the former Walmart Building where Hobby Lobby now resides is asking for a tax break from the city dating back to 2007. Today the City Finance Committee heard arguments from an attorney representing Minot LLC for the abatement. Jim Maxson says the company bought the building in 2007 for 3.3 million dollars from the Walmart Corporation and the city assessed the building's value at 4.3 million dollars. Maxson argued that because half of the Hobby Lobby building is still empty shows the assessed value and the taxes are too high. He says Walmart does business around the world and traditionally never sells a building for less than it's value. (Jim Maxson, Attorney Rep. Minot LLC) Their negotiations are quite consice, my way or the highway. That they're probably the most successfull business in the USA today and I don't think they gives things away. That hasn't been my experience." (Kevin Turnes, Minot City Assessor) "It's common throughout the country that go dark and that sell generally sell for a lot less that what everybody thought they were worth at the time when there was a Walmart in there. Of course there's an occupant, that's fine. But it's our opinion that this building is worth 4.3 million dollars and it was worth that when they bought it for less than that." The Finance committee voted 3 to 2 to deny request for the tax break. The issue now goes the full city council for its consideration. [www.clipsyndicate.com | KXMC CBS Bismarck North ]
Ward County Commissioners today delayed action on approving new land valuations for agricultural land. Land values took a steep increase according to the formula used by NDSU to calculate those values. Ward County Tax Equalization Director Mike Vendsel told commissioners the jump will translate into a property value increase of almost 14% on ag land this year. Commissioner John Fjeldahl refused to OK the valuation, saying it negated the much-publicized property tax break passed by the legislature a year ago. He says, combined with last year's 5% increase, this new increase is too much. (John Fjeldahl, Commissioner) "We got a 20% increase." (Mike Vendsel, Tax Director) "14% by my math." (John Fjeldahl, Commissioner) "But we went up 5% a little while ago too." (Mike Vendsel, Tax Director) "Yeah, last year. And I think most of it is due to a strong ag economy, but the cap rates have a huge effect on the final number that NDSU comes up with." The "cap rate" is the capitaization rate - a rate set at a new level by the legislature last year - a new level that resulted in the big valuation jump. Commissioners tabled the issue, agreeing to look into how the large property valuation increase was arrived at before deciding what action to take. [www.clipsyndicate.com | KXMC CBS Bismarck North ]
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