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An ICYMI for the Arkansas legislature: The Biden stimulus is to help working people, not billionaires

An ICYMI for the Arkansas legislature: The Biden stimulus is to help working people, not billionaires
March 13, 20219:51 am
Arkansas is going to receive $4 billion-plus from the Biden American Rescue plan $1.7 billion for the state; $1 billion for local governments; $1.2 billion for schools, and billions more in direct payments to individuals, child tax credits in the form of cash and added unemployment benefits for nearly 3 million Arkansans.
The individual payments could run the benefits over $7 billion in Arkansas, a state with a $6 billion general revenue budget.
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Governor Asa Hutchinson says it’s too much money. Arkansas Republicans in Congress say we can’t afford it. I’ve heard none volunteer to give the money back (I’m channeling here the line Republicans always throw at liberals who complain about tax cuts that mostly benefit the wealthy.) ....

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Pelosi's next big spending project and Buttigieg's automatic tax plan

Pelosi's next big spending project and Buttigieg's automatic tax plan
independentsentinel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from independentsentinel.com Daily Mail and Mail on Sunday newspapers.

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Transcript of Pelosi Weekly Press Conference Today

Speaker Pelosi. Yes. You. Alright, Garrett. You go first.
Q: So, when you have been focused on COVID, the Republicans have been talking about immigration. When you were focused on the Voting Rights Act, they were talking about immigration. Today, you are talking about Fight for 15; today, they’re talking about immigration. I m wondering if House Democrats, if you guys why are we not seeing the same thing? Is this a distraction on their part? Is it a mistake for House Democrats to not include immigration elements earlier in the agenda? I m just trying to square how these two parties are talking about such different things as the key issue right now. ....

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Pelosi Remarks at Press Conference Ahead of Final Passage of the American Rescue Plan

March 9, 2021
Press Release
Washington, D.C. – Speaker Nancy Pelosi joined Democratic leaders of the House and Senate for a press conference ahead of the final House passage of the American Rescue Plan on Wednesday morning. Below are the Speaker’s remarks:
Speaker Pelosi. Good afternoon, everyone.
I m so excited, I just can t hide it. The Rules Committee –
[Laughter]
The Rules Committee just finished its work, and now, we ll make preparation for bringing this important American Rescue Plan to the Floor of the House. The – it’s so exciting, as you know, because of what it does: vaccines in the arms of the American people, money in their pockets, children safely in school, workers safely back to work. It s a remarkable, historic, transformative piece of legislation, which goes a very long way to crushing the virus and solving our economic crisis. ....

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Change in Control of Congress May Signal Seismic Shift in Future Estate Planning Opportunities | Stroock & Stroock & Lavan LLP

Approximately $2,639,200
Approximately $7,271,200
As always, the potential estate, gift and GST tax savings should be weighed against the potential loss of the step-up of income tax basis for assets included in a decedent’s taxable estate (assuming that the Biden proposal to eliminate the step-up in basis is not enacted).
Popular Wealth-Transfer Techniques to Leverage Expanded Federal Gift and GST Tax Exemptions Remain Viable – At Least For Now!
Individuals who wish to reduce or eliminate future estate and GST taxes may consider maximizing their use of the increased federal gift and GST tax exemptions before the exemptions revert to pre-2018 levels on January 1, 2026 (unless reduced sooner by new legislation). Strategies that are attractive include dynasty (generation-skipping) trusts, spousal lifetime access trusts (“SLATs”), grantor retained annuity trusts (“GRATs”), intra-family loans and sales to intentionally defective grantor trusts (“IDGTs”). ....

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