Government finance

An estimated $69.1 billion of the $139 billion is already committed through a combination of insurance claims and federal disaster aid.

The cut has dropped from 6.6% in fiscal 2018 and 6.9% in fiscal 2017. The initial sequestration cut in fiscal 2013 was 8.7%.

As the nation’s most populous state with the largest economy, California could set the upper level benchmark for other large states such as Florida and New York that have not yet announced a sales tax remittance threshold.

Only a few of the 45 states that levy sales taxes have announced plans to begin implementation before the end of this year.

The Trump administration’s effort to publish a proposed rule comes just over two months after the IRS announced May 23 it was working on the regulations to enforce the $10,000 cap on what previously was an unlimited personal deduction of state and local taxes, also known as SALT.

Tax Reform 2.0 would make permanent the lower individual tax rates in last year’s Tax Cuts and Jobs Act that are scheduled to expire in 2025.

The black box gang has always mistaken complexity for sophistication in the realm of financial modeling.

House Judiciary Chairman Bob Goodlatte, R-Va., blasted the Supreme Court’s 5-4 decision in South Dakota v. Wayfair, Inc. as having “the potential to unleash chaos for consumers and remote sellers, particularly small business sellers.”

Tuesday’s House hearing will be chaired by Rep. Bob Goodlatte, R-Va., who was a steadfast supporter of the previous standard under which a remote seller had to have a physical presence in a state in order to be required to collect sales taxes.

Henry County Superior Court Judge Arch McGarity ruled that bills signed by Georgia Gov. Nathan Deal in May did not violate the state constitution.