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House Passes Permanent Internet Tax Ban, Bill Goes to Senate

A debate over states’ rights ensued in the U.S. House this week as it looked to permanently ban state and local governments from taxing Internet access. The House on Tuesday passed the ban via voice vote, placing pressure on the Senate to pass its version of the Permanent Internet Tax Freedom Act before Nov. 1, when the current moratorium on Internet access taxes expires. The Senate version, called the Internet Tax Freedom Forever Act, is awaiting consideration from the Senate Finance...

Public Pension Investments: Risky Chase for High Returns

A recent Pew report shows a systematic shift of public pension plans away from fixed-income investments towards equities and alternative investments in the last 30 years. Using investment data on public pensions from 1952 to 2012, Pew found that public plans “significantly increased their reliance on stocks” during the 1980s and 1990s. The data reveal that fixed-income investments and cash constituted nearly 96 percent of public pension assets in 1952. The proportion decreased to 47 percent by...

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