Vienna's "Social Housing" Provides a Wake-Up Call Regarding Public Housing Challenges
The One Big Beautiful Bill Act, recently signed into law, maintains the Tax Cuts and Jobs Act's reductions to personal income tax rates, higher standard deductions, increased Child Tax Credit, and corporate deductions for investments in new equipment. In New York, a recently passed legislation, pending Governor Kathy Hochul's signature, would legalize Medical Aid in Dying. John Hirschauer and Brian Anderson discussed the implications of this legislation on a recent podcast. Austin voters approved Proposition A in 2020, launching Project Connect, an ambitious plan to upgrade the city's public transit system. However, five years later, little progress has been made. In Vienna, Austria, social housing faces criticism for its high costs, unfairness, and unsustainability. Rent includes a 10% tax, there's an entry fee of $38,000, apartments lack private bathrooms, and central heating is not provided. Some argue that this model could be a solution to New York City's high cost of living. C. Jarrett Dieterle, the Legal Policy Fellow at the Manhattan Institute, wrote an article titled 'There Are Better Ways to Help Restaurant Workers than No Tax on Tips' in Reason. Meanwhile, Christopher F. Rufo, a Senior Fellow at the same institute, penned an article titled 'How to Save Higher Ed-And End the Serial Abuse of American Taxpayers' in The Free Press. The US inflation rebounded in June to the highest level in four months, according to a CPI report. This comes as Nvidia can once again sell AI chips to China, following a meeting between the CEO and President Trump, as reported by the Wall Street Journal. In the realm of technology, a deal has been made for Apple's first foldable phone to be released in 2026. UBS predicts it may be as cheap as $1,800, according to Fortune. Craig Rolwood, a representative of the Nuclear Energy Institute (NEI), commented on the potential for nuclear power in America. He suggested that the need for massive, new sources of electricity driven by AI and other computing advances may encourage private-sector development of the leadership talent to advance necessary reform and growth of the nuclear industry. Finally, astronomers reported the discovery of the largest-ever merger of black holes, forming one that is 225 times the mass of the sun, as reported by CBS News. This week's news offers a diverse mix of topics, from legislative changes to technological advancements, and even cosmic discoveries. Stay tuned for more updates as they unfold.
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