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California lawmakers are preparing for a historic surge in federal funding for affordable housing construction — a tsunami of subsidy that adv…
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Republicans in Congress have advanced a bill cutting clean energy tax credits, and the industry is bracing for the impacts. The legislation targets incentives like the 30% residential solar tax credit extended by the Inflation Reduction Act. Business leaders and analysts warn the cuts will reverse growth and lead to job losses. A North Carolina solar company CEO says the changes could force him to lay off over 50 employees. The bill also phases out credits for utility-scale solar and wind projects but spares some commercial initiatives temporarily.
Conservatives have blocked President Donald Trump's big tax breaks and spending cuts bill. House Republicans failed Friday to push it out of the Budget Committee. Four GOP conservatives initially voted against it, demanding further cuts to Medicaid and green energy tax breaks. A fifth switched his vote in a procedural step so it could be reconsidered later and says he's confident they'll "get this done." Tallying a whopping 1,116 pages, the One Big Beautiful Bill Act is teetering at a critical moment. At the same time, lawmakers from high-tax states including New York are demanding a deeper local tax deduction. Democrats call the package "bad economics." The Budget Committee plans to try again Sunday.
Despite federal pushback to renewable energy infrastructure — including pauses to Inflation Reduction Act funds — local leaders and experts a…
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San Mateo’s nearly 700-unit Hillsdale Garden development will be converted to affordable housing after several developers recently purchased t…
Senators are heading home for the month after failing to advance a bill to expand the child tax credit and restore some business tax breaks. Democratic Senate leader Chuck Schumer dared Republicans to vote against the tax cut package Thursday as campaign season ramps up, saying they'd voting against tax cuts for many low-income families and businesses. But GOP senators did just that during a 48-44 procedural vote that required support from 60 lawmakers to advance. Republicans said Democrats weren't serious about addressing their concerns about the bill and that they would be in position to write a better measure next year.
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California is significantly overhauling its cannabis tax structure, including entirely eliminating a tax on growers, in an effort to boost a s…
CHARLESTON, W.Va. (AP) — For the first time in half a year, families on Friday are going without a monthly deposit from the child tax credit —…
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California’s tax credit for renters could soon increase after remaining stagnant for more than 40 years if a bill with broad bipartisan suppor…
WASHINGTON (AP) — The child tax credit had always been an empty gesture to millions of parents like Tamika Daniel.