BUSINESS
NEWS
Bloomberg Tax Predicts More Moderate Inflation Rates for 2025
By Peter DuncanU.S. Automobile Dealer Sentiment Stumbles in Q3 as Political Climate Heats Up
By Helen RoschaOasis Gold Group’s Strategic Vision for Long-Term Financial Security
By Steve ArnettCLIMATE
CHANGE
Discovery About Ice Layer Formation in Ice Sheets Can Improve Sea Level Rise Predictions
By Yves DucrotAlternative Proteins: Essential for Restoring Nature in the US and Beyond
By Tina GeigerSB 1395 gives local governments the tools to fast track building interim housing and scale up efforts to bring people indoors and save lives
Today Governor Gavin Newsom signed into law SB 1395, which addresses California’s housing and homeless needs by expanding access to interim housing.
Authored by Senator Josh Becker (D-Menlo Park), SB 1395 is sponsored by San José Mayor Matt Mahan and is strongly supported by San Francisco Mayor London Breed, DignityMoves, the Bay Area Council, and the San Francisco Bay Area Planning and Urban Research Association.
California has the fourth highest rate of homelessness and the highest rate of unsheltered homelessness in the nation. Despite concerted efforts to increase housing production, California’s budget, land, and zoning limitations inhibit sufficient permanent housing construction. As a consequence, California’s homeless population reached a record 181,399 individuals in 2023 and will continue to grow without significantly increasing housing production.
The importance of SB 1395, also known as the Interim Housing Solutions Act of 2024, is that it will encourage the development of interim housing by achieving the following:
- Clarifying that relocatable, non-congregate interim housing is eligible for streamlined zoning, thus reducing construction time and costs;
- Empowering local governments who want to build interim housing by cutting red tape and expediting approvals (CEQA expansions for Low Barrier Navigation Centers and Shelter Crisis Act projects);
- Extending sunset for existing…
PUBLIC
INTEREST
U.S. Department of Energy Announces $72.8 Million Loan Guarantee to Build Solar-Plus-Storage Microgrid on Tribal Lands
As part of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of Energy (DOE), through its Loan Programs Office (LPO), announced the closing of a $72.8 million loan guarantee to finance the development of a solar-plus-long-duration-energy-storage microgrid. The microgrid will be located on the…
Intel Agency’s Director Discusses Organization’s Post-Declassification Era
If you’ve never heard of the National Reconnaissance Office, you’re not alone. Established by the Defense Department in August of 1960 and tasked with the mission to “develop and operate the world’s most capable and innovative overhead reconnaissance systems to collect intelligence for U.S. national security and to support…
CULTURE
NEWS
Kaatsbaan Cultural Park Presents New Works by Limón Dance Company, Boca Tuya, and Music From The Sole at the 2024 Annual Festival
By D’Arcy SardoneMillionaire Concept Gala 2024: Christopher Aleo Receives Recognition for Innovation in International Banking Transfers
By Hazel SaundersRH
FINANCIAL
Bloomberg Tax Predicts More Moderate Inflation Rates for 2025
Bloomberg Tax & Accounting released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amountsU.S. Automobile Dealer Sentiment Stumbles in Q3 as Political Climate Heats Up
The Q3 2024 Cox Automotive Dealer Sentiment Index (CADSI) shows automobile dealers in the U.S.THIS WEEK'S HEADLINES
The Defense Department is now engaged in a recapitalization of its nuclear triad, which involves new submarines, new bomber aircraft and a new ground-based system
With two nuclear-armed peer competitors — Russia and China — and with both advancing their nuclear capability, the U.S. now, more than ever, must move at full speed to modernize its nuclear deterrence capability. That effort is not just for U.S. national security, but as well for partners who depend on the U.S.
“The security environment we face today is unprecedented,” said Melissa Dalton, undersecretary of the Air Force. “We face for the first time in our nation’s history, two strategic competitors that are nuclear states with large and growing nuclear arsenals. When we look at the and its breathtaking modernization over the last two decades, we see today they have over 500 operational nuclear warheads, far exceeding prior projections.”
Speaking Wednesday at the Air & Space Forces Association’s 2024 Air, Space & Cyber Conference just outside of Washington, Dalton said that in coming years, the U.S. expects China’s warheads to exceed 1,000. At the same time, she said, Russia also remains a challenge.
“We see Russia brandishing its nuclear weapons in the context of the Ukraine conflict and also possessing novel nuclear capabilities that are designed to challenge our escalation calculus,” she said. “The stakes are incredibly high.”
During the Cold War, the U.S. maintained top-notch nuclear deterrence, and the domestic defense industry stood ready to provide whatever was needed. But since the fall of the Soviet Union, and with the U.S. focused on other parts of the world for the past 20-plus years, the U.S. must now up its game.
“We mortgaged our nuclear modernization for 30 years, and for a lot of understandable reasons,” Dalton said. “We had the post-Cold War…
CURRENT EDITION
A study led by researchers at The University of Texas at Austin examines the flow and freezing of meltwater within old snow on the ice sheet, which can help improve estimate of sea level rise
By Yves Ducrot / Environmental ReporterA newly discovered mechanism for the flow and freezing of ice sheet meltwater could improve estimates of sea level rise around the globe.
Researchers from The University of Texas at Austin in collaboration with NASA’s Jet Propulsion Laboratory (JPL) and the Geological Survey of Denmark and Greenland (GEUS) have found a new mechanism that explains the process of how impermeable horizontal ice layers are formed below the surface, a process critical for determining the contribution of ice sheet meltwater to sea level rise.
The work by Mohammad Afzal Shadab a graduate student at UT’s Oden Institute for Computational Engineering and Sciences was published in Geophysical Research Letters. Shadab was supervised by study co-authors Marc Hesse and Cyril Grima at UT’s Jackson School of Geosciences.
The world’s two largest freshwater reservoirs, the Greenland and Antarctica ice sheets, are covered in old snow, known as firn, that’s not yet compacted into solid ice. Because the firn is porous, melted snow can drain down into the firn and freeze again rather than running into the sea. This process is thought to decrease meltwater runoff by about half.
However, it’s also possible to form impermeable ice layers that can serve as barriers for meltwater – and divert meltwater to the sea, said Shadab.
“So, there are cases where these ice layers in firn accelerate the rate of meltwater running into the oceans,” he said.
The potential for glacial meltwater to freeze in firns or flow off existing ice barriers makes understanding freezing dynamics within the firn layer an important part of estimating sea…
Bloomberg Tax & Accounting releases Projected U.S. Tax Rates for 2025, anticipates 2.8% increase from 2024
Bloomberg Tax & Accounting released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% from 2024. This is about half the increase in 2024, and a significant drop from the 7.1% increase in 2023.
Bloomberg Tax’s annual Projected U.S. Tax Rates Report provides early, accurate notice of the potential tax savings that could be realized due to increases in deduction limitations, upward adjustments to tax brackets, and increases to numerous other key thresholds.
The report accounts for changes made under the SECURE 2.0 Act that affect tax planning for corporate taxpayers in certain industries. They include an increase in the threshold amount for qualified salary reduction arrangements under §408(p) from $5,000 to $5,100 and an increase in the qualified long-term care distribution amount under §401(a) from $2,500 to $2,600.
This year’s report projects that several key deductions for taxpayers will see notable year-over-year increases, with the foreign earned income exclusion increasing from $126,500 to $130,000, and the annual exclusion for gifts increasing from $18,000 to $19,000, thereby allowing taxpayers to increase their gifts without tax implications.
“Year after year, our annual report equips tax professionals and taxpayers with crucial forecasts to prepare for the forthcoming year, ahead of the IRS’s official declaration,” said Heather Rothman, Vice President, Analysis & Content, Bloomberg Tax & Accounting. “As inflation continues to impact the tax code, Bloomberg Tax &…
CURRENT EDITION
U.S. Automobile Dealer Sentiment Stumbles in Q3 as Political Climate Heats Up
The Q3 2024 Cox Automotive Dealer Sentiment Index (CADSI) showsOasis Gold Group’s Strategic Vision for Long-Term Financial Security
Uncertainty looms in today’s financial markets, leading to increased scrutinyFisher Capital Giving People an Alternative to the Stock Market
For as reliable as they have been over the courseWhy Investing in RELT Ahead of ONAR’s Public Debut Could Be a Game-Changer
As ONAR prepares to go public through a reverse mergerFlorida’s Housing Market Sees Rise in Inventory and New Listings in June 2024
Florida’s housing market in June and second quarter (2Q) 2024Interview With Leandro Iglesias, CEO of iQSTEL
Leandro, iQSTEL has seen impressive growth over the past year.- Loading stock data...