Reports: Biden’s Tax Plan Would Increase Taxes Across the Board, Estimates Vary by How Much

Democratic presidential candidate Joe Biden’s proposed tax increases of nearly $4 trillion over the next 10 years, if passed, “would be the highest in American history – indeed, in world history,” an analysis of his plan determined.

Lew Uhler, founder and chairman of the National Tax Limitation Committee and National Tax Limitation Foundation (NTLF), and Peter Ferrara a senior policy adviser to NTLF, made that conclusion in a new report published by The Hill.

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Pew: At Least 17 States Have Drawn from Their Rainy Day Funds This Year to Cover Fiscal Shortfalls

At least 17 states have authorized and or made withdrawals from their rainy day funds this year in order to fill budget holes, according to a new analysis by The Pew Charitable Trusts. Some withdrawals were small, others were more than half of what was set aside.

In fiscal 2020, at least 36 states had planned to make additional rainy day fund deposits but were constrained by fiscal and economic difficulties resulting from their respective state COVID-19 shutdowns, which resulted in increased unemployment and decreased revenue.

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Minneapolis to Spend $2 Million of CARES Money on Tiny Houses for Homeless

The Minneapolis City Council on Friday voted to spend nearly $2 million of federal Coronavirus Aid, Relief, and Economic Security (CARES) money to house the homeless.

The council passed the proposal for the project dubbed Indoor Villages, which will be operated by Avivo, a company that offers treatment, recovery and employment services.

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Senators Introduce Bill to Amend Rule Over Third-Party Internet Content

In the wake of allegations of big tech companies suppressing political speech and news stories on their platforms, Republican senators and congressmen introduced legislation to amend Section 230, part of a federal code that regulates third-party content on the internet.

Federal Communication Communications (FCC) Chairman Ajit Pai also weighed in on Thursday after senators announced they were subpoenaing Twitter’s CEO Jack Dorsey.

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Nearly 900,000 U.S. Workers File New Unemployment Claims

Nearly 900,000 American workers filed new claims for unemployment benefits last week, an increase of 53,000 new claims from the week prior and a sign that the U.S. economy has a long way to go to recovery.

According to U.S. Department of Labor satistics released Thursday, 898,000 new claims were filed in the week ending Oct. 10, when seasonally adjusted. That’s up from the previous week’s revised level of 845,000 claims.

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