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GoLocalProv | Should Congress Set State Tax Policy As a Condition of Federal Recovery Aid?


Monday, April 12, 2021
 
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How do you think that the Rhode Island General Assembly would react if future federal aid was linked to state and local tax policies determined in Washington and not in the Rhode Island State House?
The question of the relations of the states to the federal government, wrote Woodrow Wilson in 1908, “is the cardinal question of our constitutional system”. Matters of state and federal fiscal responsibility have been vexing to presidents, members of Congress, the courts, and state and local governing authorities since the founding of the nation.
The words Wilson spoke 113 years ago are particularly relevant today because the American Rescue Plan Act (ARP) -the $1.9 trillion federal COVID-19 relief program includes a provision that states and municipalities cannot use ARP funds to “directly or indirectly offset” tax reductions. At this point, it is unclear how this law will be applied. Treasury Secretary Janet Yellen ....

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GoLocalProv | 2020 Was a Financial Disaster for Many Americans, But Not Corporate CEOs


For top 300 CEOs, pay increased $13.7M in 2020, up from $12.8M in 2019.
A series of new reports unveil that America’s top CEOs had a big year in 2020 during the pandemic. One Rhode Island CEO made over $27 million in 2020.
“Median pay for the chief executives of more than 300 of the biggest U.S. public companies reached $13.7 million last year, up from $12.8 million for the same companies a year earlier and on track for a record, according to a Wall Street Journal analysis,” reports the WSJ.
More than 110,000 American restaurants have closed according to the National Restaurant Association in data it released in January. ....

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Where's the beef? Runaway steer still roaming Rhode Island


March 11, 2021 GMT
This February 2021 photo provided by Adam Seaberg shows a cow that escaped on Feb. 4, in Johnston, R.I., as it was being transported. More than a month after escaping while being unloaded at a slaughterhouse, the steer is still roaming the streets of Johnston, about 10 miles (16 kilometers) west of Providence.(Adam Seaberg via AP)
This February 2021 photo provided by Adam Seaberg shows a cow that escaped on Feb. 4, in Johnston, R.I., as it was being transported. More than a month after escaping while being unloaded at a slaughterhouse, the steer is still roaming the streets of Johnston, about 10 miles (16 kilometers) west of Providence.(Adam Seaberg via AP) ....

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