>>Biden Calls For Higher Tax On Corporate Stock Buybacks
(Washington, DC) -- The President says the current tax system is "simply unfair." During his State of the Union address, Biden proposed Congress quadruple the tax on corporate stock buybacks, saying corporations would still make considerable profit He also called for the closure of loopholes that allow the very wealthy to avoid paying their taxes. The President said under his plan, no one earning less than 400-thousand dollars a year would pay more in taxes.
>>IRS Proposes New Reporting Program For Workers Who Earn Tips
(Washington, DC) -- The IRS is proposing a new program for employers whose workers earn tips. The tax agency opened a 60-day public comment period this week on what would be a voluntary program. Participating employers would have to submit an annual report to improve what the IRS calls tip reporting compliance. This would reduce the need for compliance reviews by the IRS. The public comment period ends May 7th.
>>Judge Rejects Bail Proposal For FTX Founder
(New York, NY) -- A federal judge is rejecting a proposal to modify the bail conditions for Sam Bankman-Fried [[ freed ]]. U.S. District Judge Lewis Kaplan didn't provide a reason for the denial and said a hearing remains scheduled for the disgraced crypto king on February 9th. The 30-year-old has been out on a quarter-billion-dollar bond since pleading not guilty to looting billions from the now-bankrupt FTX. The denial comes despite an agreement between Bankman-Fried and prosecutors to address potential witness tampering concerns.
>>Delta Workers To Get 5% Raises
(Atlanta, GA) -- Many employees at Delta Air Lines are getting another raise. This time, it's worth five-percent. A previous four-percent pay hike was implemented last May. CEO Ed Bastian said "this is truly a remarkable achievement" given how much money the airline lost during the pandemic, especially early on. Ground workers and flight attendants will start to be paid more on April 1st.
>>NJ Governor Signs Temp Workers' Bill of Rights
(Trenton, NJ) -- New Jersey Governor Phil Murphy is signing into law what's been called the temporary workers' bill of rights -- said to be the strongest of its kind in the nation. Passage of the bill caps a years-long effort that faced opposition from business groups and also some legislative hurdles. The bill gives temporary workers a variety of protections, including a guaranteed minimum wage. The law also gives temp workers the right to basic information in English and their native language about the type of work they're performing, their pay rate and how much sick time they receive.
