Print
While President Biden and his Russian counterpart Vladimir Putin are trying to decide where to meet in Vienna, Reykjavik or Helsinki? Americans and Russians are trying to figure out whether the sanctions imposed by the two countries make it impossible for them to visit Moscow or Washington.
The U.S. Embassy in Moscow announced that as of Wednesday it would stop issuing non-immigrant visas to Russians there. Russians who want to travel to the U.S., or study or conduct business activities here, will be able to apply for visas only in third countries.
The suspension of consular services is a result of the latest sanctions exchange between Washington and Moscow. In April, Biden imposed restrictions on more than 30 Russians and Russian tech companies accused of interfering in the 2020 presidential elections. Also, the president expelled 10 Russian diplomats, some of whom the White House said were working for the Russian intelligence services.
The next round of EV infrastructure investment from Electrify America includes another $200 million to the state of California. Shown here, a new EA charging station in Baker, California. (Electrify America)
While President Biden s American Jobs Plan includes a robust electric vehicle infrastructure component that could put 500,000 more charging stations into the ground in the U.S., the truth is that things are already moving in that direction.
For example, Electrify America (EA) announced more details of its big EV charging station investment this week. As part of the Volkswagen diesel emissions scandal settlement, the automaker was forced to set up EA and to promote EV use in the U.S., including spending $800 million in California. This week, EA announced details about how it will spend the next $200 million of that. The charging station network operator has already spent or allocated $400 million in the state.
The Tax “Tail” Proposals Currently on the Table
Repeal 2017 Trump tax cuts
Incomes above $400K – The top tax bracket goes from 37.0% → 39.6%
Capital gains rate
Tax investment income at ordinary rates for those who earn more than $1 million in total (wage and investment) income.
Current top rate with surtax and ex state tax 23.8% → 43.4%.
Estate tax changes
Trump exemptions eliminated and exemption returns to 2009 levels.
Payroll tax
Limited deductions
Financial transaction tax
Raising the GILTI tax
Raising the corporate tax rate
21% to 28%
Content continues below advertisement
Taxes are likely to change meaningfully especially for our higher net worth clients. We try to skate to where the puck is headed, not where it is. There are many investors who have resisted paying capital gains taxes and understandably so. It may make sense to avoid gains if you anticipate your heirs receiving a step up in basis upon transfer. And for some, paying taxes on passive incom
Governor Abbott Issues Statement On Senator Tim Scott’s Response To President Biden’s Joint Address To Congress
AUSTIN, TX – Governor Greg Abbott issued a statement Thursday on Senator Tim Scott s response to President Joe Biden s joint address to Congress: Senator Tim Scott perfectly delivered an uplifting conservative message for a freer, safer, and more prosperous America. While President Biden listed plan after plan that would destroy jobs, grow the role of government in our lives, and threaten Texas’ economic might, Senator Scott delivered a vision to preserve our freedoms, expand economic opportunity, and ensure that every citizen achieves the American dream. The Lone Star State will continue to advance principles of liberty, freedom, and opportunity for all who call Texas home.
While President Biden made mention of immigration reform in his first address to Congress this week, the fate of refugees was conspicuously absent. After weeks of whiplash for refugees and their advocates, we’re still waiting for clarity on a path forward.
On April 16, President Biden announced he would maintain the limit on the number of refugees annually admitted to the country at 15,000, the lowest level in history, initially set by President Trump. The announcement reversed a key campaign promise, and was a violation of Biden’s commitment to refugees.
As advocates for those who are seeking refuge from persecution, we were deeply disappointed. HIAS and our allies pushed back, calling out Biden’s broken promises.