Money
IRS: Going Green Could Help Taxpayers Qualify for Expanded Home Energy Tax Credits
What taxpayers need to know: Taxpayers can claim the Energy Efficient Home Improvement Credit and the Residential Clean Energy Credit for the year the qualifying expenditures are made. Homeowners who improve their primary residence will find the most opportunities to claim a credit for qualifying expenses. Renters may also be able to claim credits, as well as owners of second homes used as residences. Landlords cannot claim this credit. IRS encourages taxpayers to review all requirements and qualifications at IRS.gov/HomeEnergy for energy efficient equipment prior to purchasing. Additional information is also available on energy.gov, which compares the credit amounts for tax year 2022 and tax year 2023. When it is time to file a tax return, taxpayers can use Form 5695, Residential Energy Credits, to claim the credit. more »
May 3, 2023 Fed Chair Jerome Powell’s Press Conference: " Reducing inflation is likely to require a period of below-trend growth and some softening of labor market conditions"
"We remain committed to bringing inflation back down to our 2 percent goal and to keep longer-term inflation expectations well anchored. Reducing inflation is likely to require a period of below-trend growth and some softening of labor market conditions. Restoring price stability is essential to set the stage for achieving maximum employment and stable prices over the longer run..." "To conclude, we understand that our actions affect communities, families, and businesses across the country. Everything we do is in service to our public mission. We at the Fed will do everything we can to achieve our maximum employment and price stability goals." more »
Monetary Policy Report Prepared at the Federal Reserve Bank of Richmond, Expectations for Future Growth Were Mostly Unchanged
Beige Book Reports: "Overall economic activity was little changed in recent weeks. Nine Districts reported either no change or only a slight change in activity this period while three indicated modest growth. Expectations for future growth were mostly unchanged as well; however, two Districts saw outlooks deteriorate. Consumer spending was generally seen as flat to down slightly amid continued reports of moderate price growth. Auto sales remained steady overall, with only a couple of Districts reporting improved sales and inventory levels. Travel and tourism picked up across much of the country this period. Manufacturing activity was widely reported as flat or down even as supply chains continued to improve... On balance, residential real estate sales and new construction activity softened modestly." more »
Women's Congressional Policy Institute, Bills Introduced: Child Assistance Program, Men's and Women's Fairness in College Sports
A bill to establish a universal child assistance program, and for other purposes. A bill to establish a Commission on Men's and Women's Fairness in College Sports; A bill to permit leave to care for an adult child, grandchild, or grandparent who has a serious health condition.
Bringing women policymakers together across party lines to advance
issues of importance to women and their families.… more »