With the mammoth infrastructure bill complete, Washington is shifting its focus back to the nearly $2 trillion social spending bill known as Build Back Better. House Democrats believe they will be able to vote on the bill by midweek. An economic official with the Biden administration said over the weekend that with inflation rising, approval couldn’t come at a better time. Many homeowners would get a tax break if the proposal to raise the cap on state and local tax deductions stands. But lots in the bill could change once it gets to the Senate.
Atlantic City’s casinos would get a financial break under a bill that advanced out of a state Senate committee Monday. The bill, sponsored by outgoing Senate President Steve Sweeney, would exempt revenue from sports betting and internet gambling from calculations on how much the casinos should pay the city. Some casinos would pay less and others would pay more. The bill is a renewal of a measure requiring casinos to make payments in lieu of taxes to Atlantic City, which was first enacted five years ago. The bill does not affect the state taxes casinos must pay.
Newark-based Audible is launching a six-month pilot program to help both local residents in need and businesses in the city. The program is called Audible Bucks; it’s a $75 weekly stipend, loaded on a debit card, and provided to some 400 residents. According to Aisha Glover, vice president of urban innovation at Audible, the stipend can be used at restaurants and more.
New Jersey will be home to the largest electric-vehicle charging hub in the country. New Jersey-based Power Edison will team up with a developer to build the hub in Kearny Point Industrial Park. The location will include 200 high-power fast chargers for both private vehicles and commercial fleets. According to Power Edison, the hub will be built out in phases and will open in about six months.
