Hoboken Mayor-Elect: Tax Plan Is an Assault From Red States
New Jersey’s first Sikh mayor is preparing to take office on New Year’s Day and is already voicing his opinions about the new Republican tax law.
Ravinder Bhalla, Mayor-Elect of Hoboken, says that the Tax Cuts and Jobs Act is an assault from red states to blue states, on a national level. He claims that, at a local level, the attack is aimed at the residents of New Jersey. The state has a high tax rate, and the new plan limits deductions taxpayers can receive on state and local taxes up to $10,000. In the past, taxpayers did not have a capped limit.
“That’s going to have a huge economic impact on New Jersey, New York, California, and other states,” Bhalla said. “I am making sure I will do everything I can as mayor, to protect Hoboken residents where policies from Washington impact us, whether it's economic or otherwise,” he said.
The Tax Cut and Jobs Act goes into effect in the new year, but elected officials have already begun to take action. New York Governor Andrew Cuomo recently passed an “emergency executive action” plan that allows property owners to pay taxes ahead of the new legislation.
For full interview [click here](https://cheddar.com/videos/hobokens-first-sikh-mayor-to-be-inaugurated).
The Social Security Administration’s acting commissioner has stepped down from her role at the agency over Department of Government Efficiency requests.
Mexican President Claudia Sheinbaum says her government is not ruling out filing a civil lawsuit against Google if it maintains its stance of calling the stretch of sea between northeastern Mexico and the southeastern United States the “Gulf of America.” Sheinbaum, in her morning press conference on Thursday, said the president’s decree to change the name of the Gulf of Mexico is restricted to the “continental shelf of the United States” because Mexico still controls much of the body of water. “We have sovereignty over our continental shelf,” she said.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
President Donald Trump is hitting foreign steel and aluminum with a 25% tax. If that sounds familiar, it’s because he did pretty much the same thing during
President Donald Trump has ordered the U.S. to stop minting pennies. His surprise announcement comes after decades of unsuccessful efforts to phase out the 1-cent coin. Advocates for ditching the penny cite its high production cost and limited utility. Fans of the penny cite its usefulness in charity drives and relative bargain in production costs compared with the nickel. Here's a look at some question surrounding Trump's order.
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Brian Bennett, Senior White House correspondent at TIME, discusses Musk's relationship to Donald Trump and how he has such access in the federal government.
