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Sanders to work on school finance reform

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Sanders to work on school finance reform

State Sen. Rita Sanders will work with the incoming administration in Lincoln on a college finance reform initiative.

Jim Pillen, the state’s governor-elect, introduced Sanders could be a part of a brand new Faculty Finance Reform Committee that Pillen will personally chair.

“I stay up for working with the committee to search out widespread floor to reform our state assist to varsities,” Sanders mentioned in a information launch distributed by Pillen’s transition staff.

“Reforming the TEEOSA formulation will probably be a key a part of fixing our damaged property tax system and offering a brighter future for Nebraska college students.”

TEEOSA stands for the Tax Fairness and Academic Alternatives Assist Act, which units the formulation for the way state {dollars} are distributed to public faculty districts in Nebraska.

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State Sen. Tom Briese Albion was additionally named to the reform committee together with members of Pillen’s coverage staff and representatives of Faculties Taking Motion for Nebraska Youngsters’s Training, a coalition of faculties that don’t pay for lobbyists, together with Lakeview Superintendent Aaron Plas and Seward Superintendent Josh Fields.

Persons are additionally studying…

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Omaha Public Faculties Superintendent Cheryl Logan and Lincoln Public Faculties Superintendent Paul Gausman, together with different OPS and LPS representatives, will be a part of the committee, together with Ken Chicken, a former Westside Group Faculties superintendent and CEO of Avenue Students.

Rounding out the committee membership will probably be representatives of the Nebraska Affiliation of Faculty Boards, Nebraska Rural Group Faculties Affiliation, Nebraska Farm Bureau and Nebraska Cattlemen and Individuals for Prosperity-Nebraska.

Absent from the brand new committee is Sen. Lynne Walz, a Democrat who chairs the Legislature’s Training Committee, in addition to representatives of trainer organizations. Sanders, Briese and Pillen are all Republicans.

Pillen spokesman John Gage responded that “the teams and people represented are a cross part of skilled educators, policymakers and stakeholders from throughout the state and are the preliminary members of the committee.”

The brand new committee will probably be separate from a choose interim legislative committee learning faculty finance. The legislative group consists of two representatives every from the Training, Income and Appropriations Committees.

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“This committee is the beginning of fulfilling my promise to replace our antiquated faculty assist formulation,” Pillen mentioned Thursday within the information launch. “Of our 244 faculty districts, solely 86 obtain any state assist. The formulation will not be truthful, it isn’t Nebraska and it offers up on our youngsters.”

The truth, nonetheless, is that every one public faculty districts do get some state assist by means of the state’s revenue tax rebate program. This system returns 2.23% of the state revenue taxes collected from district residents to the districts. All districts are eligible for internet possibility funding as effectively, which reimburses them for educating possibility enrollment college students.

Nebraska gives the majority of its faculty assist by means of the TEEOSA equalization formulation, which directs assist to districts that can’t elevate sufficient cash by means of property taxes to satisfy the wants of scholars. Within the present 12 months, $886 million of the $1.07 billion in state faculty help goes out as equalization assist.

The variety of districts getting equalization assist has dropped through the years as property valuations, significantly agricultural land valuations, have grown.

The upper valuations imply that extra faculty districts can present for pupil wants by means of property taxes with out exceeding the state’s levy restrict. However farm- and ranch-land house owners have objected to the elevated reliance on agricultural property taxes to help faculties.

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Pillen mentioned the group will provide you with suggestions on reforming TEEOSA.

Gage mentioned the group is to advocate adjustments in time for the brand new legislative session, which begins Jan. 4. Any adjustments would in the end want the help of the Nebraska Legislature, the place latest previous efforts to reform faculty financing — together with the broader concern of property tax reduction — have met with recalcitrance. The final overhaul was in 1990.

“Our state assist formulation leaves out over 70,000 Nebraska college students from receiving any equalization assist,” mentioned Kenny Zoeller, Pillen’s coverage director. “The stakeholders on this committee will probably be centered on discovering methods we will have an academic funding system the place the state doesn’t choose winners and losers.”

Previous makes an attempt to modify to a per-student assist distribution technique have met stiff opposition from districts that might lose cash below such a change. These districts, which educate the majority of Nebraska’s college students, usually are on the most property tax levy and can’t simply substitute state assist with native {dollars}.

Through the gubernatorial marketing campaign, an evaluation by the OpenSky Coverage Institute discovered that Pillen’s proposal to shift to a per-student formulation may price some districts $270 million.

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A information launch from Carol Blood, a Bellevue state senator who unsuccessfully challenged Pillen for the governorship, mentioned in early November that abolishing equalization in favor of fastened, per-student funding may elevate property taxes.

Blood mentioned the Bellevue Public Faculties would stand to lose practically $18.3 million, which might require about a further levy of about 50 cents per $100 in assessed valuation to exchange — that’s about $1,250 for a the proprietor of actual property valued at $250,000.

“Is that fixing Nebraska’s property tax downside?” Blood requested.

However, the Democrat agreed that some reform is required.

“We will’t maintain making an attempt to tweak the antiquated TEEOSA formulation,” Blood mentioned within the information launch previous to the election. “It lacks transparency and easily must go away.”

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Your money habits trace back to childhood, financial psychotherapist says. Here's how to fix them

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Your money habits trace back to childhood, financial psychotherapist says. Here's how to fix them

Child saving money in a glass jar at home

Pinstock | E+ | Getty Images

Your relationship with money might seem random, but one expert says it offers clues about your childhood — and understanding this could help overcome toxic spending habits.

Vicky Reynal, a financial psychotherapist and author of “Money on Your Mind,” told CNBC Make It that there are psychological reasons behind our spending habits, and many of these attitudes stem from childhood experiences.

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“Our emotional experiences growing up will shape who we become,” she said.

For example, someone who felt secure during childhood might feel that they deserve good things, and later in life may be more likely to negotiate a higher salary or enjoy the money they have, Reynal said. Whereas someone who experienced childhood neglect may grow up with low self-esteem and act this out through money behaviors.

This could include feeling guilty when spending money because they don’t feel they deserve good things, or splashing the cash to impress because they feel unworthy of attention.

“The little toddler that goes up to their parents to show them their scribble — how they get responded to will give them a message about how the world will respond to them,” Reynal added.

Scarcity or wealth

Reynal said “the money lessons we learn growing up” are largely shaped by whether we grew up in an environment of scarcity or wealth.

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“To give you an example, growing up in scarcity, people that manage to move themselves out of that economic reality, and maybe in their own adult life manage to accumulate quite a bit of wealth, it’s quite common for them to struggle with what they call the scarcity mindset,” Reynal said.

This is a pattern of thinking that fixates on the idea that you don’t have enough of something, like money. A scarcity mindset means someone might struggle to enjoy the money they’ve earned and be anxious about spending it, Reynal added.

Alternatively, there are people who grew up with little but became wealthy, and are now very careless with money.

“They’re giving themselves everything that they longed for when they were little so they might go on the other extreme and start spending it quite carelessly, because now they want to give their children everything that their parents couldn’t give them,” Reynal added.

Stop self-sabotaging

The key to overcoming toxic spending habits is to stop self-sabotaging — a common behavior — according to Reynal.

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“Often behind a pattern of financial self-sabotage, there are deep-seated emotional reasons, and it could range from feelings of anger, feelings of un-deservedness, to maybe a fear of independence and autonomy,” she said.

To identify these, you first have to determine what your financial habits and inconsistencies are, Reynal said, giving an example of someone who might overspend in the evenings.

“Is it boredom? Is it loneliness? What is the feeling that you might be trying to address with the overspending?” she said.

“That’s already giving you a clue as to what you could be doing different. So, if it’s boredom, what can you replace this terrible financial habit with?”

Reynal said she had a young client who would always run out of money within the first two weeks of the month. She asked them: “What would happen if you were financially responsible?”

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The client revealed that they feared risking their relationship with their mother because every time they ran out of money, they called their mother to ask for more.

“Their parents had divorced a long time ago, and the only time they ever spoke to their mother was to ask for money,” Reynal said. “They had a vested interest in being bad with money, because if they were to become good with money, then they had the problem of: ‘I might not have an excuse to call mother anymore and I don’t know how to build that relationship again’.”

The financial psychotherapist recommended being “curious and nonjudgmental” when considering the root of bad spending behavior.

“So sometimes asking ourselves: “What feelings would I be left with if I actually didn’t self-sabotage financially, or if I weren’t so generous with my friends?’ That can start to reveal the reason why you might be doing it,” she added.

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Downing & Co. Elevates Financial Legacy With Expert Estate Planning Services in Portland

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Downing & Co. Elevates Financial Legacy With Expert Estate Planning Services in Portland

Portland-based CPA firm helps clients safeguard their wealth and secure their family’s future with comprehensive estate planning services.

PORTLAND, OREGON / ACCESSWIRE / December 26, 2024 / In a city renowned for its entrepreneurial spirit and thriving businesses, Downing & Co. is taking a bold step forward in helping Portland residents protect what matters most: their legacy. The firm offers specialized estate planning services, designed to ensure their clients’ wealth is preserved and passed down seamlessly to future generations.

With over five decades of experience in financial strategy, Downing & Co. brings a trusted, proactive approach to estate planning. As Portland’s go-to CPA firm, they’ve built a reputation for delivering personalized solutions that go beyond typical financial management. Their estate planning services focus on reducing tax burdens, avoiding costly mistakes, and ensuring assets are distributed according to the client’s wishes.

“Estate planning isn’t just about financial protection-it’s about preserving your life’s work and values for the people you care about,” said Tim Downing, Managing Principal at Downing & Co. “Our goal is to provide peace of mind by ensuring that clients’ wealth stays where it belongs-within their family and community.”

Why Estate Planning Matters in Portland

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For high-net-worth individuals and small business owners, estate planning is critical in Portland’s competitive economic landscape. Without a clear plan, families risk losing up to 40% of their inheritance to taxes and government regulations. By offering expert guidance and strategic structuring, Downing & Co. ensures clients avoid these pitfalls while safeguarding their financial legacy.

Key benefits of Downing & Co.’s Estate Planning Services include:

  • Minimizing Estate Taxes: Advanced planning can reduce the tax burden on your estate, ensuring more of your wealth is retained by your heirs.

  • Efficient Wealth Transfer: Clear strategies streamline the process of passing on assets, reducing legal challenges and delays.

  • Preserving Family Legacies: Customized solutions ensure your assets align with your values, supporting the people and causes you care about most.

  • Proactive Risk Mitigation: Estate plans address potential legal and financial risks, protecting your wealth against unforeseen challenges.

A Holistic Approach to Financial Security

Downing & Co.’s Estate Planning Services are part of a broader commitment to comprehensive financial management. Their holistic approach integrates tax planning, wealth preservation, and business advisory services to create a seamless strategy that addresses every aspect of a client’s financial well-being.

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Stock market today: Dow, S&P 500, Nasdaq fall after Christmas break

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Stock market today: Dow, S&P 500, Nasdaq fall after Christmas break

US stocks fell Thursday as trading resumed after the Christmas holiday, as Wall Street digested one of the only economic data points of the week.

The S&P 500 (^GSPC) was down 0.3% while the the tech-heavy Nasdaq (^IXIC) declined 0.3%. The Dow Jones Industrial Average (^DJI) lost 0.4%, leading the way down.

Meanwhile, bitcoin (BTC-USD) slumped, falling below the $96,000 level as volatile trading continued. Crypto-linked stocks like MicroStrategy (MSTR) tracked the declines.

Markets looked to be struggling in a bid to extend the start of the “Santa Claus rally,” which kicked off with a bang on Tuesday. All three major indexes rose around 1%. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) are within striking distance of their records after clawing back gains from a Fed-fueled dive last week.

As Wall Street saunters back from its holiday break, the normally routine release on weekly jobless claims took more of a spotlight than usual, as the only piece of the jobs puzzle on the docket this week.

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Labor Department data released prior to the market open showed weekly jobless claims fell to 219,000 compared with expectation of 223,000. However continuing claims surged to 1.19 million in the week ending December 14 to the highest level since November 2021, in a sign the labor market may be cooling.

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