Hikes

Pension Crisis Looms Over Cincinnati as Report Urges Tax Hikes and Asset Sales

Cincinnati, Ohio – The state of Cincinnati’s pension system is causing concern as it falls behind, posing potential devastating consequences for the city’s budget, according to a recent report released by the Cincinnati Futures Commission. The report highlights how economic recessions and a decrease in the city’s workforce over the years have significantly impacted the financial stability of the pension system. Back in 1999, there was approximately one city employee for every retiree, resulting in …

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Tax Hikes Loom for Mississippi Municipalities as Retirement System Funding Bill Fizzles

JACKSON, Miss. – City and county governments in Mississippi are facing a tough decision after a bill that would have decreased the employer contribution to the state retirement system for government workers failed to pass. Supporters of the proposal warn that without this change, local governments may have to resort to raising taxes or cutting employees to make up for the increased costs. House bill 1590, which did not move forward in the Senate committee …

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Port of Baltimore Closure Sparks Traffic Concerns and Shipping Price Hikes

In Baltimore, Maryland, the recent collapse of the Key Bridge is causing significant disruptions to the operations of the Port of Baltimore. The closure of the port is expected to lead to increased shipping prices and potential traffic congestion in the region. The bridge collapse, which occurred after a container vessel collided with one of its supports, has put a halt on the flow of ships in and out of the port. The impact of …

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Insurance Hikes Delayed as Orange County Schools Agree to Record Teacher Raises

Orlando, Florida – Orange County Public Schools and its teachers union have come to an agreement that will see significant raises for most teachers in the district. The deal, which includes a nearly 10% raise for teachers, marks a “historic” moment for the school district. In addition to the pay increases, the agreement also entails an adjustment in insurance premiums for employees, although the full cost of these increases will not be imposed until the …

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Social Security Recipients Still Facing Tax Hikes after 8.7% COLA Increase in 2024

SANDUSKY, OH – Social Security beneficiaries are experiencing a mixed bag this tax season. While many are seeing larger monthly checks due to a recent cost-of-living adjustment (COLA), a surprising number are finding out that they will now have to pay taxes on those benefits, a situation they have never encountered before. A survey conducted by The Senior Citizens League revealed that during the 2023 tax season, 23% of participants who had received Social Security …

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