Latest National taxes News

Emails show California agency's cozy ties to gas tax backers

Oct. 16, 2018 1:56 AM EDT

SACRAMENTO, Calif. (AP) — As the political battle to overturn California's gas tax increase intensified, the state transportation agency coordinated frequently with the public affairs firm working to block the repeal on behalf of unions, construction companies and local government groups, emails obtained...

US budget deficit hits highest level in 6 years

Oct. 15, 2018 6:03 PM EDT

WASHINGTON (AP) — The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Donald Trump's tax cuts caused the government to borrow more heavily in order to cover its spending. The Treasury Department said Monday that the deficit climbed $113 billion...

Salesforce vs. Twitter in San Francisco homeless tax fight

Oct. 15, 2018 5:48 PM EDT

SAN FRANCISCO (AP) — San Francisco has come to be known around the world as a place for aggressive panhandling, open-air drug use and sprawling tent camps, the dirt and despair all the more remarkable for the city's immense wealth. Some streets are so filthy that officials launched a special "poop patrol."...

The Latest: Utilities slowly come back in storm-hit Florida

Oct. 13, 2018 11:06 AM EDT

PANAMA CITY, Fla. (AP) — The Latest on the aftermath of Hurricane Michael (all times local): 11 a.m. Power and cellphone service is starting to be restored in parts of Florida's storm-battered Panhandle. State emergency management officials reported Saturday that nearly 264,000 customers remain without...

Tesla says order by Monday to get full $7,500 tax credit

Oct. 12, 2018 9:08 AM EDT

DETROIT (AP) — Tesla Inc. says buyers must order cars by Monday to get the full federal electric vehicle tax credit of $7,500. The company says on its website that cars ordered by Monday will be delivered by the end of the year. Under federal law, buyers get the full credit until a manufacturer reaches...

Higher rates: Sign of economic strength or a risk? Try both

Oct. 11, 2018 5:03 PM EDT

WASHINGTON (AP) — This week's dizzying sell-offs in the financial markets have been a rude reminder that the U.S. economy is no longer relying on ultra-low interest rates to fuel growth. Borrowing costs are rising for companies, homebuyers and the U.S. government — all of which could eventually...

Left-wing parties unite to increase social spending in Spain

Oct. 11, 2018 8:38 AM EDT

MADRID (AP) — Spain's Socialist minority government signed an agreement Thursday with an anti-austerity party to raise the country's minimum wage and increase taxes for the rich if the national budget for next year gets parliamentary approval. Passing the 2019 budget is a key step for Prime Minister Pedro...

Malaysia plans new taxes to help pay off snowballing debt

Oct. 9, 2018 6:26 AM EDT

KUALA LUMPUR, Malaysia (AP) — Malaysian Finance Minister Lim Guan Eng said Tuesday the government plans to introduce new tax measures to help raise funds to pay off national debt that has snowballed due to corruption under the previous government. Lim said it will take the government three years to resolve...

IMF downgrades outlook for world economy to 3.7 pct. growth

Oct. 9, 2018 2:36 AM EDT

WASHINGTON (AP) — The International Monetary Fund is downgrading its outlook for the world economy, citing rising interest rates and growing tensions over trade. The IMF said Monday that the global economy will grow 3.7 percent this year, the same as in 2017 but down from the 3.9 percent it was forecasting...

Carbon tax gets renewed attention but still faces resistance

Oct. 9, 2018 1:49 AM EDT

Advocates of taxing fossil fuels believe their position is stronger now because of an alarming new report on climate change and a Nobel Prize awarded to by two American economists, but neither development is likely to break down political resistance to a carbon tax. Previous alarms about global warming met with...