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New IRS Proposal Will Inconvenience All Bank Account Holders Equitably

New IRS Proposal Will Inconvenience All Bank Account Holders Equitably
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Agriculture in Biden's budget request

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06/01/2021 10:00 AM EDT
Editor’s Note: Weekly Agriculture is a weekly version of POLITICO Pro’s daily Agriculture policy newsletter, Morning Agriculture. POLITICO Pro is a policy intelligence platform that combines the news you need with tools you can use to take action on the day’s biggest stories. Act on the news with POLITICO Pro. ....

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Washington asks state high court to uphold tax on big banks

The Washington Attorney General’s Office on Tuesday asked the state Supreme Court to uphold a new tax on big banks, a year after a lower court judge sided with the industry in finding it unconstitutional. ....

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Black business leaders in Massachusetts envision a 'new normal.' It starts with a public bank.

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Massachusetts is less than a week away from lifting its remaining COVID-19 businesses restrictions. But even as companies emerge from more than a year of immense losses and pandemic-induced rules, leaders in the local Black business community aren’t looking forward to a return to normal.
“Normal sucked; it wasn’t good for us,” says Samuel Gebru, the director of policy and public affairs for the Black Economic Council of Massachusetts.
That the Black community faced stunning economic disparities in the Boston area and across the country well before the pandemic due to historic discriminatory policies was no secret. But it holds ever more true for minority entrepreneurs; according to a report by The Boston Foundation last week, Black and Latino business owners were far less likely receive debt financing or access loans needed for their companies, in addition to being hardest hit by the pandemic. ....

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Debt relief for U.S. minority farmers coming in June – USDA

Debt relief for U.S. minority farmers coming in June â USDA
By Syndicated Content
By Christopher Walljasper
CHICAGO (Reuters) â The U.S. Agriculture Department said on Friday it will start erasing an estimated $4 billion dollars in debt to minority farmers in June, as it seeks to address racial discrimination.
The Biden administration hopes to make right with Black and other minority farmers, who for decades have lost farmland in legal disputes and been denied loans and government assistance.
The American Rescue Plan Act, which became law in March, directed the USDA to pay off all farm debt held by âsocially disadvantagedâ minority farmers. It faced opposition from some white farmers and concern from banks. ....

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