tax credit
Coverage of tax credit in the Nexus archive.
- At Massport’s urging, Healey signs tax break for sustainable aviation fuel
Massachusetts Governor Maura Healey signed a $10 million annual tax credit for sustainable aviation fuel (SAF) over three years, driven by Massachusetts Port Authority CEO Rich Davey. The initiative aims to reduce aviation emissions by incentivizing SAF adoption, though environmental groups and critics question its cost-effectiveness and long-term impact.
- Amazon’s main UK arm handed £7.6m tax credit as profits soar to £355m
Amazon’s main UK division received a £7.6m tax credit despite profits rising to £355m. The company, which employs 66,000 staff in the UK, reported £9.1m in 'current tax' liabilities and generated £32bn in revenue from its five largest divisions.
- A rare Mamdani-Menin alliance
Mayor Zohran Mamdani and Council Speaker Julie Menin, previously at odds over closing New York City's budget gap, have united to push for scaling back a tax credit benefiting millionaires, aiming to generate $1 billion in revenue. Governor Kathy Hochul rejected their proposal, complicating efforts to address the city's fiscal shortfall and creating a new political rift ahead of her reelection.