Rockefeller Foundation aims to make Trump tax perk work for poor Americans
-- Wall Street’s obsession with a new tax break that rewards investment in low-income areas has raised doubts that the poor will benefit. Can a modest philanthropic effort change that?
Prudential Financial Inc. is contributing to the first award, which will provide $920,000 to Newark, New Jersey. The money will allow a local nonprofit, the Newark Alliance, to hire a chief opportunity zone officer who will be embedded with the city, and two “community engagement specialists.” The grant also comes with two years of technical assistance to help structure deals.
“We should have more public and philanthropic guardrails” to ensure the law helps low-income families and workers, said Rajiv J. Shah, president of the Rockefeller Foundation. “We know making grants in six cities is not going to change the trajectory of the law right away,” he said, but ultimately it’s possible to “avoid some of the concerns that have been raised.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The dark side of work perks, and why we should regulate themWhile employees may enjoy work perks like free food, stock options and 401ks, it’s worth looking at them more critically, says Elizabeth Tippett, a former employment lawyer and professor at the University of Oregon School of Law. Tippett joined THINK to explain how companies use perks to control their workers.
Read more »
Report: Kobach demanded perks, top Cabinet post to become Trump's 'immigration czar'Former Kansas GOP Secretary of State Kris Kobach gave the White House a list of demands for perks, status and authority if he were to accept the role of 'immigration czar,' The New York Times reported Monday.
Read more »
Lawmakers change Trump tax law that hit Gold Star families with 'kiddie tax'Senate passes change to President Trump's tax law after it unexpectedly hits hundreds of Gold Star families with 'kiddie tax'
Read more »
Trump Telecom Ban Takes Aim at China, HuaweiPresident Trump signed an executive order that allows the U.S. to ban telecommunications network gear and services from foreign adversaries, in a measure widely believed to be aimed at China and telecom companies including Huawei Technologies and ZTE.
Read more »
From baggage handlers to pilots, here's how much everyone who works in air travel makesSalaries range from around the median wage to very high-paying.
Read more »
Trump aims to cool tensions in Middle East, but Iran is probably not ready to negotiatePresident Donald Trump appears to be paving the way for negotiations with Iran as tensions in the Middle East escalate and oil prices rise.
Read more »
New York lawmakers pass bill aimed at weakening Trump’s pardon powerThe measure, which creates a narrow exception to the state's double jeopardy law, now goes to Democratic Gov. Andrew Cuomo's desk.
Read more »
NY poised to close loophole aimed at possible Trump pardonsALBANY, N.Y. (AP) — A presidential pardon for federal crimes won&39;t be enough to clear a person of similar state charges under legislation poised for passage in New York.
Read more »
Administration rejects subpoena for Trump's tax returns, upping stakes in battle with DemocratsThe decision was no surprise, with Mnuchin indicating earlier this week that he expected the dispute to be settled by the courts.
Read more »
Mnuchin defies House Democrats' subpoenas for Trump's tax returnsTreasury Secretary Steve Mnuchin on Friday defied subpoena requests from House Ways and Means Committee Chairman Richard Neal for President Donald Trump's tax returns.
Read more »