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Ranil Wickremesinghe - Sri Lankan President presents IMF-program based revenue generation plan - newsfirst.lk - Sri Lanka
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Sri Lankan President presents IMF-program based revenue generation plan
COLOMBO (News 1st); Sri Lanka's President Ranil Wickremesinghe told Parliament that the government will be introducing a serious of reforms after the IMF Executive Board granted approval for a bailout package of the country.Increasing Public Revenue:– Reduce the primary deficit to 2.3% of the GDP by 2025.– Increase the government’s revenue up to 15% of the GDP by 2026 through our measures.– Raised the standard corporate income tax rate to 30% without sectoral tax holidays.– PAYE tax rate was increased from 8% to 15%.– The measures required to reduce the existing tax exemptions on Value Added Tax (VAT) will come into effect by 2025. Further, necessary measures will be taken to remove the simplified VAT system and expedite its reimbursement.–  Steps have also been taken to introduce tax on awards / substitutes and to introduce Estate Duty as a property tax by 2025, while providing an appropriate tax exemption allowance at a minimum.–  Revamping the property tax system and introducing a wealth transfer tax – Introduce a gift and inheritance taxManaging Expenditure:– Increase the allocations provided to cover the expenses through proper management of expenditure.– Adjustments in certain salary scales and pension schemes as part of the impact of inflation within the primary deficit targets.State Enterprises and Energy Cost: – Fuel prices will be determined based on the 2018 Price Formula.
Joe Biden - John Thune - Bank failures, bailouts divide Congress on next steps - fox29.com - Usa - Washington - state Ohio - city Washington - state South Dakota
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Bank failures, bailouts divide Congress on next steps
WASHINGTON (AP) - Bills were filed, hearings were planned and blame was cast as Congress reacted this past week to the abrupt failure of two banks. A look at what lawmakers are saying and planning as the fallout continues from the collapse of Silicon Valley Bank and Signature Bank.While President Joe Biden called Monday on Congress to strengthen the rules for banks to prevent future failures, lawmakers are divided on whether any legislation is needed.Some congressional leaders are skeptical that a closely divided Congress will act at all."There’s people who are going to choose bills, but I cannot imagine that, with the hold banks have on Republican members of Congress, that we can pass anything significant," said Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking, Housing and Urban Affairs Committee.Republicans say the laws already in place were sufficient to prevent the bank failures, if only regulators had done their job by spotting obvious problems and directing the banks to take steps that would reduce their risk."If there are ideas out there that people have, you know, at some point, we would be willing to entertain those, but I think it would be premature to start talking about solutions before we fully define the problem and ultimately get answers from the regulators about why they were asleep at the job," said Sen.
Joe Biden - Xavier Becerra - Mario Tama - Biden to put issue of lowering drug costs at center of political agenda - fox29.com - Usa - state California - city Las Vegas - county Monterey - county Park - state Virginia - city San Gabriel
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Biden to put issue of lowering drug costs at center of political agenda
FILE - President Joe Biden delivers remarks on reducing gun violence at the Boys and Girls Club of West San Gabriel Valley on March 14, 2023, in Monterey Park, California. (Photo by Mario Tama/Getty Images) LAS VEGAS - President Joe Biden will highlight the stark differences in how Democrats are tackling skyrocketing drug prices compared to their Republican counterparts as he gears up for an expected reelection announcement.In a speech on Wednesday in Las Vegas that could serve as a preview of the campaign ahead, Biden planned to put the issue of lowering drug costs at the center of his policy and political agenda.The White House thinks it has a winning message in showcasing legislation passed last year that is expected to save taxpayers billions of dollars and lower the cost of drugs for the roughly 84 million Americans who rely on Medicare."These kind of savings will give people a little bit more breathing room, more comfort as they decide to go to the grocery store to buy their food, more ability to pay their rent, or maybe it’s just to do something decent for their families," Health and Human Services Secretary Xavier Becerra told reporters on Tuesday as he previewed the Democratic president's remarks.Biden plans to talk up how his administration is rolling out several parts of that law, passed in a Democratic-controlled Congress last year, that cap the price of insulin, make most vaccines free and allow the federal government to negotiate deals on a handful of pharmaceutical drugs for Medicare enrollees.President Joe Biden appeared in Virginia on Feb.
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