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Arlington sets budget without tax rate increase, but warns of costs outpacing growth

“The board voted unanimously to keep the property tax rate at $1.006 per $100 of assessed value (including the storm water tax)” writes Patricia Sullivan Covers for washingtonpost.com. Adding in the fee hikes, the average homeowner will see their tax bill increase by $296, to $8,742.The Arlington County Board did not raise property tax rates Saturday in adopting its $1.276 billion budget for the coming fiscal year, but higher assessments and fees mean the average tax bill will increase 3.5 percent.For the fiscal year that begins July 1, the schools budget will increase…

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Avengers: Infinity War is the second most expensive film ever made

“Justice League earned back more than double its $300 million budget, taking more than $650 million at the worldwide box office despite negative reviews” writes Telegraph Reporters for telegraph.co.uk. Infinity War looks set to pull off a similar feat, judging by Marvel’s recent successes; 2015’s Avengers: Age of Ultron made more than $1.6 billion worldwide, on a net budget of $267 million. Source: telegraph.co.uk Share This:

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The IRS just pushed back the deadline to file taxes by one day after its website crashed on Tax Day

“According to the IRS, taxpayers could still file their returns through third-party filers like H&R Block and TurboTax during the outage but the IRS was having trouble processing the submission from those groups” writes Aol Staff for aol.com. “This is the busiest tax day of the year, and the IRS apologizes for the inconvenience this system issue caused for taxpayers,” Acting IRS Commissioner David Kautter said in a statement. NOW WATCH: How a series of deadly Russian apartment bombings in 1999 led to Putin’s rise to power SEE ALSO: The IRS…

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Tsunami of job-stealing robots isn’t coming anytime soon

“A principal objective of President Trump’s “America first” trade policy is to eliminate the U.S. trade deficit in general and with China in particular” reports washingtonexaminer.com. All one need do is look at how the administration’s China trade proposals conflict with its budget policy.Overlooking this basic tenet of economics seems to blind the administration to the fundamental inconsistency between its trade policy objectives and its budget proposals.The “fourth industrialists” tell us that computer systems with powerful “artificial general intelligence” are just around the corner.There is no reason to believe that…

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Facing $42 million budget deficit, UW dental school interim dean resigns

“James Johnson is stepping down immediately, shortly after the dental school laid off 22 people to help alleviate its financial woes” writes Jessica Lee for seattletimes.com. Faculty members have said the school is poorly managed and fault the university for not being more transparent about its budget.Until administrators choose Johnson’s replacement, the university’s provost, Jerry Baldasty, will make major decisions for the dental school and work with leadership to address its financial problems, said UW spokesman Victor Balta. Source: seattletimes.com Share This:

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NYC is mulling a proposal that would give 800,000 New Yorkers half-priced Metrocards

“Roughly 800,000 low-income New Yorkers would save $726 a year if a proposal by the New York City Council and advocates to fund half-priced Metrocards for the poorest New Yorkers is adopted as part of the city’s final budget” writes Madina Toure for businessinsider.com. He told reporters he will present the city budget in a few weeks. Source: businessinsider.com Share This:

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John Boehner unloads on Paul Ryan’s ‘biggest disappointment as speaker’

“I have to believe it’s Paul Ryan’s biggest disappointment as speaker because Paul Ryan used to be the chairman of the budget committee,” Boehner said” writes Bob Bryan for businessinsider.com. During an interview Friday on CNBC, Boehner pointed to the growing federal debt and Ryan’s inability to reform entitlements like Social Security as the “biggest disappointment” of Ryan’s speakership.But the federal budget is nowhere near balanced, and the Congressional Budget Office projected the annual federal deficit will hit $1 trillion by 2020.”I feel from all the budgets that I passed,…

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Democrats press GOP on Medicaid cuts during opioid hearing

“House Democrats pilloried Republican proposals to cut Medicaid Thursday, charging that cuts to the program will exacerbate the crisis” writes Ap Photo Manuel for washingtonexaminer.com. Several Democrats pointed to the Trump administration’s fiscal 2019 budget proposal that cuts Medicaid by $1.4 trillion. “Any effort to cut the funding will severely jeopardize these services,” said Rep.The bills considered in the two-day hearing, which started Wednesday, focus on changes to Medicare and Medicaid.The attacks occurred during a House Energy and Commerce Committee hearing to consider more than 30 bills to combat the…

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GBP News Stocks 

Norwegian Air’s stock soars 38% as British Airways parent considers bid

“Shares in Norwegian Air Shuttle ASA NAS, +38.26% flew 38% higher on Thursday after the parent company for British Airways said it may attempt a full takeover of the budget carrier” writes Markets Writer for marketwatch.com. IAG has faced stepped-up competition in the lucrative long-haul market from budget operators such as Norwegian.No such discussions have taken place to date,” and there is no certainty that any such decision will be made, the company added. Source: marketwatch.com Share This:

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Leaves behind new tax code, busted budget…

“Instead, the House passed steep tax cuts while increasing spending, setting the government on a path to rising deficits” writes Andrew Taylor for yahoo.com. On his other defining aim — balancing the budget and cutting back benefit programs like Social Security, Medicare and Medicaid — Ryan has utterly failed.For instance, Ryan for years had promised that tax reform would include big income and corporate rate cuts paid for by wiping away popular tax breaks.Instead, last year’s bill managed to cut tax rates by adding $1.4 trillion to the deficit and…

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