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Musk waves a chainsaw and charms conservatives talking up Trump’s cost-cutting efforts

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www.youtube.com – ABC11 – 2025-02-21 08:54:05


SUMMARY: Elon Musk appeared at a conservative conference outside Washington, brandishing a chainsaw to symbolize his efforts to reduce the size of the federal government. He touted his role in government efficiency, particularly with cuts at the IRS, which has laid off 6,000 workers. Although officials claim tax return processing is unaffected, concerns about delays remain. Musk proposed a $5,000 taxpayer dividend funded by the cuts and claimed support from President Biden. He also faced accusations of ties to Russia, amid tensions over Ukraine and Trump’s strained relations with President Zelensky. Musk dismissed these claims and continued advocating for budget cuts.

Billionaire Elon Musk appeared at a conservative gathering outside Washington waving a chainsaw in the air, showing openness to auditing the Federal Reserve and accusing Democrats of “treason.”

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Reagan era credit pumps billions into North Carolina housing | North Carolina

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www.thecentersquare.com – By David Beasley | The Center Square contributor – (The Center Square – ) 2025-09-07 07:36:00


The Low-Income Housing Tax Credit (LIHTC), established in 1987, significantly aids affordable housing development in North Carolina. Administered by the NC Housing Finance Agency, it supports $1.47 billion in apartment construction, creates nearly 22,000 jobs, and generates $95.3 million in tax revenue annually. The program allocates federal tax credits based on state population, with North Carolina receiving about $34 million yearly. Developers sell these credits to large corporations, reducing borrowing costs and keeping rents affordable. Despite rising construction costs and demand, the program enjoys bipartisan support, recently receiving a 12% funding increase, though demand still exceeds available resources.

(The Center Square) – A little known federal tax credit that existed since Ronald Reagan was president has a long way toward creating more affordable housing in North Carolina, the state director told The Center Square.

The Low-Income Housing Tax Credit will help developers build $1.47 billion in affordable apartments in North Carolina this year and 21,960 jobs and produce $95.3 million in state and local tax revenue, said Scott Farmer, executive director of the NC Housing Finance Agency, which administers the program launched in 1987.

“What it effectively did was create a state-by-state allocation of federal tax credits to create, effectively, equity, for a public private partnership to develop apartments and also rehabilitate existing apartments,” Farmer said.

Once approved for the tax credits, the developers can then sell them on the private market, at a reduced price, such as 80 cents on the dollar.

“They are generally purchased by large corporate entities that have large tax obligations,” Farmer said.

The money from the sale of the tax credits lowers the amount the developer has to borrow for apartment construction.

“That’s how you keep the rents down,” Farmer said. “Your bank debt is much smaller so that you keep your rents affordable. It’s the truest form of a public-private partnership because you have the state agency, the federal government and these private investors that are all participating as well as the developers.”

Allocations of the tax credit is based on a state’s population. North Carolina’s allocation is around $34 million a year.

“There is a long waiting list,” for the tax credits, Farmer said. “The problem with this program is that we don’t have enough resources to go around.”

While other federal programs have been on the chopping block this year, Congress approved a 12% increase in the Low-Incoming Housing Tax Credit program, Farmer said.

“It was one of the few things that was increased and shows the bipartisan support for this program,” the director said.

Construction costs, labor and rents have all been going up over the last five years, Farmer noted.

“Without these types of programs, it would be difficult if not impossible to make these kinds of properties available for families and seniors,” he said.

The post Reagan era credit pumps billions into North Carolina housing | North Carolina appeared first on www.thecentersquare.com



Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Centrist

The article primarily reports on the Low-Income Housing Tax Credit program and its impact on affordable housing in North Carolina without promoting a particular ideological viewpoint. It presents factual information, quotes from an official involved in the program, and mentions bipartisan support, indicating a neutral tone. The language is straightforward and descriptive, focusing on the mechanics and benefits of the program rather than advocating for or against any political ideology. Thus, it adheres to neutral, factual reporting by describing the ideological positions and actions of policymakers without contributing a discernible bias itself.

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Powerball surges to $1.8B ahead of Saturday's drawing

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www.youtube.com – WRAL – 2025-09-06 23:48:07


SUMMARY: The Powerball jackpot surged to an estimated $1.8 billion for Saturday’s drawing, marking the second largest lottery jackpot in history. Winning numbers were 6, 12, 23, 62, 44, with a Powerball of 17. Many hopeful players, including reporter Kirsten Clark, purchased tickets, eager to try their luck. At Andy Hugo’s in Raleigh, a stream of customers bought tickets, drawn by the chance to win big for just $2. The lump sum cash option is estimated at $826.4 million. Experts remind winners to consult financial planners due to the jackpot’s 1 in 292 million odds.

The numbers were drawn, and many were hoping to win the life-changing jackpot.

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News from the South - North Carolina News Feed

Man accused of identity theft taught at multiple schools in the area

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www.youtube.com – WRAL – 2025-09-06 09:33:00


SUMMARY: Gregory Pedford, accused of using a stolen identity to secure a teaching job in Franklin County, has worked at multiple schools including Wake Forest Charter Academy and Durham Public Schools. Pedford, who used aliases and falsified records to appear as a licensed educator, was employed at least four local schools. Despite a long criminal history of fraud dating to the 1980s, schools failed to detect his deception. After his arrest, Cross Creek Charter implemented fingerprinting for new hires to improve verification. Parents and community members express concern and call for stricter hiring processes to protect children from similar cases.

Gregory Pettiford is facing charges for identity theft and having a fake driver’s license and social security card, according to arrest warrants. An Apex student remembers him as ‘a really good teacher.’

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