Benjamin R. Freed

Washington, D.C., United States

State News Team Leader at Bloomberg Tax

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Articles

DC Mayor Says City Can Weather ‘DOGE Economy’ Without Tax Hikes

3 weeks ago | news.bloombergtax.com | Benjamin R. Freed

Washington, DC can weather the impact of the Trump administration’s actions on the city’s financial health without needing to raise taxes on individuals or businesses, Mayor Muriel Bowser said. The District is grappling with what she called the “DOGE economy” after mass reductions in the federal workforce and a federal stopgap spending measure earlier this year that effectively forced a $1 billion cut to DC’s current fiscal year budget.
State of Tax: Maryland Budget, 'Jock Tax' Judge Assigns Homework

2 months ago | news.bloombergtax.com | Benjamin R. Freed |Leah McBride Mensching

The week in state tax news: Maryland adopted a budget for fiscal 2026 that includes a new levy drawing fire from the tech industry, while also creating new tax brackets for the state’s top earners. Meanwhile, judges in Pennsylvania’s “jock tax” case have more questions after oral arguments, and a GOP member of Congress predicts where the SALT cap will land.
Don't Weep for 50 Cent: He Can Get His Tax Break Somewhere Else

Nov 19, 2024 | news.bloombergtax.com | Benjamin R. Freed

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Don't Weep for 50 Cent: He Can Get His Tax Break Somewhere Else

Nov 19, 2024 | news.bloomberglaw.com | Benjamin R. Freed

No one was more shocked than 50 Cent when the Louisiana House last week voted to gut the state’s film tax credit program. After all, he’d agreed in April to open his G-Unit Studios in Shreveport, lured in no small part by a program that gives tax breaks of up to $150 million annually to movie and TV productions that come to the state. But shed no tears. If Louisiana’s Senate and Gov.
Oregon Corporate Tax Hike Defeated as Voters Decide Tax Measures

Nov 6, 2024 | news.bloombergtax.com | Benjamin R. Freed

Oregon voters Tuesday rejected a ballot measure that would have raised the minimum income tax on a handful of large corporations to fund annual rebates to residents. The proposal (Measure 118) would have increased the state’s corporate income tax revenue by up to $15.6 billion and generated $17.1 billion in rebates during the 2027-29 biennium, according to a legislative fiscal analysis.
Voters Reject Oregon Corporate Hike, Back Georgia Tax Court (1)

Nov 6, 2024 | news.bloomberglaw.com | Benjamin R. Freed

Oregon voters Tuesday rejected a ballot measure that would have raised the minimum income tax on a handful of large corporations to fund annual rebates to residents. The proposal (Measure 118) would have increased the state’s corporate income tax revenue by up to $15.6 billion and generated $17.1 billion in rebates during the 2027-29 biennium, according to a legislative fiscal analysis.
Effort to Put Elected Board Over California Tax Policy Shelved

May 16, 2024 | news.bloombergtax.com | Benjamin R. Freed

A bill meant to give supervision of California’s myriad tax agencies to an elected board failed to advance out of a key state Senate committee. The bill (S.B. 1436) would have created a five-member Tax Policy Oversight Board and would have restored a measure of authority to the State Board of Equalization, which was stripped of much of its power seven years ago following a string of ethical and legal controversies.
Inside Malta Pension Promoters’ Effort to Outsmart IRS (Podcast)

Nov 16, 2023 | news.bloombergtax.com | Benjamin R. Freed

For more than a year, a group of wealth management advisers met regularly to devise strategies to defend their wealthy clients’ keeping their riches in individual retirement arrangements based in Malta. Listen here and subscribe to Talking Tax on Apple Podcasts, Spotify, Google Podcasts, Megaphone, or Audible.
Verdicts on Abortion, Boomer Judges, Taxes: Ballots & Boundaries

Nov 8, 2023 | news.bloomberglaw.com | Greg Giroux |Benjamin R. Freed |Alex Ebert |Ryan Autullo

An abortion constitutional amendment in Ohio showed what a turnout-driver that issue is, even in a state that Donald Trump won twice. Yesterday’s vote — which wasn’t even close — was the latest in a string of political victories for Democrats and their allies in the aftermath of the US Supreme Court decision last year overturning Roe v Wade and the constitutional right to abortion. READ MORE about the result and how it fits into the big picture.
Texas Votes to Outlaw Additional Taxes on Wealthy Residents

Nov 8, 2023 | news.bloombergtax.com | Benjamin R. Freed

Texas voters made clear Tuesday the state won’t levy a tax on high-net-worth residents, approving a ballot measure denying the state Legislature the option of imposing a wealth tax. The ballot question (Proposition 3) updates the state constitution by outlawing something that’s been floated in at least eight states—unsuccessfully, so far—but not in the famously anti-tax Lone Star State.

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