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Archive for the 'Fiscal stimulus' Category

State, federal spending in Mt. Vernon is focus of Apr. 9 forum

April
3

A Mount Vernon public forum is planned on Thursday, April 9 at 7 p.m. at City Hall to discuss the potential impact of state bond funding and federal stimulus on local schools and businesses.
The forum will address New York State EXCEL Bond funding for repairs and improvements to city schools, and federal stimulus spending on minority and women-owned businesses in the city. Westchester County Legislator Lyndon D. Williams will host the program.
Williams’ office said panelists are expected from Empire State Development Corp., the African American Chamber of Commerce of Westchester & Rockland, the Westchester County Office of African American Affairs, Mount Vernon City School District Board of Trustees, United Association of Contractors and Developers, the Rapid Start Training Program, the Westchester-Putnam Central Labor Body, International Brotherhood of Electrical Workers Local No. 3, and local businesses.

Posted by Jerry Gleeson on Friday, April 3rd, 2009 at 11:40 am |
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Krugman talk rescheduled for May 1

March
25

New York Times columnist and Nobel Prize winner Paul Krugman will speak on the national economy on Friday, May 1 at 1 p.m at Westchester Community College’s Academic Arts Building Theatre in Valhalla. The free event is rescheduled from earlier this month, when it was postponed for weather.
Krugman, who won the 2008 Nobel Prize for Economics, is a professor of Economics and International Affairs at Princeton University on Friday, May 1. For information, call 914-606-6900.

Posted by Jerry Gleeson on Wednesday, March 25th, 2009 at 8:35 am |
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Provident Bank passes on TARP help

December
19

The parent company of Provident Bank in Montebello said it will not avail itself of the asset protection services that the U.S. Treasury is providing in the wake of the financial crisis. Provident said it is well-capitalized and does not need the assistance under the Troubled Asset Relief Program, which is helping other banks that are struggling with subprime mortgage securities on their balance sheet. Provident has no subprimes in its portfolio.
Provident did say it will join an expanded insurance program through the Federal Deposit Insurance Corp. that includes unlimited coverage of both non-interest bearing demand deposit accounts and NOW accounts paying up to 50 basis points. The bank said it would join the program through Dec. 31, 2009. The bank said that the added coverage is particularly valuable to small businesses to assure that their payroll accounts are fully insured.

Posted by Jerry Gleeson on Friday, December 19th, 2008 at 4:14 pm |
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Stimulus unclaimed by thousands in the region

September
26

When Congress passed a stimulus plan earlier this year, it was designed to put additional money in the bank accounts of average Americans at a time of economic uncertainty.

But the program of one-time stimulus payments has yet to benefit thousands of residents in the lower Hudson Valley. That’s because an estimated 16,810 retirees and disabled veterans in Westchester County, 5,662 in Rockland County and 1,260 in Putnam County have not yet filed for their stimulus payments with Uncle Sam, according to the Internal Revenue Service.

To get the stimulus check this year, people must file a tax return, even if they normally are not required to file one.

“Don’t let the economic stimulus payment pass you by,” said Kevin McKeon, a spokesman for the IRS. “If you want the payment this year, you should file by Oct. 15.”

Nationally, the IRS said that it has accounted for nearly 80 percent of the Social Security and Veterans Affairs beneficiaries identified as potentially eligible for stimulus payments. But the tax agency added that it has yet to hear from about 346,000 New Yorkers who receive certain Social Security or Veterans Affairs benefits, despite twice sending them letters about the unclaimed stimulus checks.

“We recognize that there may be older Americans and disabled veterans who still have not filed for their stimulus payment,” McKeon said. “If you know of a friend, neighbor or family members who may be in that situation, please give them a hand if they need it.”

The stimulus payments can be up to $600 for eligible individual taxpayers (or $1,200 for married couples). There also is a $300 payment for each qualifying child.

Ntionally, the IRS has issued $93 billion in economic stimulus payments to 114.8 million individuals and families.

For additional information, call the IRS at 1-866-234-2942.

Posted by Jay Loomis on Friday, September 26th, 2008 at 2:24 pm |
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Retirees, vets target of IRS rebate push

June
19

About a quarter of the nation’s disabled veterans or retirees have yet to claim rebates under President Bush’s $146 billion economic-stimulus plan, the Internal Revenue Service said today.

In New York state, fresh data show that just 67 percent of the 1.3 million potential retiree/disabled veteran filers are accounted for, leaving some 440,000 potential recipients remaining.

In response the Internal Revenue Service has begun a campaign to reach out to those who qualify for the economic stimulus payment but haven’t yet filed to claim it.

They include nearly 30,000 residents of the Lower Hudson Valley. Westchester County accounts for 20,861 of those eligible but who haven’t filed. In Rockland, 6,758 retirees or disabled veterans have yet to claim, while in Putnam, 1,704 are eligible.

Of the top 20 cities statewide, Yonkers at No. 4, Mount Vernon at No. 12, New Rochelle at No. 13 and White Plains at No. 16 account have more than 10,500 of the state’s retirees and disabled veterans who have yet to file to receive the payment.

The stimulus plan allows the 20 million Americans who receive Social Security or Veteran’s Affairs benefits but who don’t normally file income tax returns to receive the minimum payment of $300 ($600 for married couples), plus $300 for each qualifying child.

“Some retirees and others who normally do not file a tax return may be eligible and not know it,” IRS Commissioner Doug Shulman said in a written statement.

The IRS could use the public’s help, Shulman said.

“If you know of a retiree or a disabled veteran who might qualify, please pass along the information to them,” he said.

To get the payment, retirees or disabled veterans must fill out a 1040A tax form with basic information, including: name; address; dependents, if any; amount of qualifying income (which must be $3,000 or more); direct deposit information and signatures.

The IRS can issue payments by check, but the agency encourages people to use direct deposit for speedier delivery.

Forms 1040A, along with instructions, are available at www.irs.gov and must be filed by Oct. 15.

Posted by David Schepp on Thursday, June 19th, 2008 at 4:07 pm |
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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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