More women are headed to the White House. Following the Biden administration’s push for diversity, U.S. news giants, including CNN, ABC, CBS, NBC, PBS, and the Washington Post, are assigning their chief White House reporting duties to women. Given that newsroom employees have historically been less diverse than the United States as a whole, this female-founded newsletter is thrilled to see this change. In fact, we even have a list of 101 female journalists worth recognizing.

Income taxes may need to adapt to a remote workforce

Mon Jan 25

Should work-from-home mean tax-from-home? Companies and states alike are struggling to determine the answer. Now, the Supreme Court is looking to the Biden administration for their input on how to navigate it all.  

With 71% of Americans now working from home, some states are arguing income taxes should no longer reflect where the business is located, but where the employee is located. 

• For example, New Hampshire filed a lawsuit against Massachusetts in October, arguing that the Commonwealth is taxing for work happening entirely outside its borders. 
• New Jersey and Connecticut have filed a brief that backs the New Hampshire case, citing major losses to New York as their residents work from home but continue to be taxed from the Empire State. 

As it stands, Massachusetts and New York are among the seven states that use the “Convenience Rule,” which allows workers to be taxed based on the location of their office regardless of where they physically do the work (home, coffee shop, or otherwise). Other states employing this rule include Arkansas, Delaware, Nebraska, Pennsylvania, and Connecticut. Some states also have tax credits for workers who commute out-of-state, protecting them from being taxed twice.

Is there anything workers should be worried about?

• Tax advisors recommend maintaining solid, granular records of where you’ve worked and speaking with your HR representative to ensure you’re setting aside enough money for taxes. 
• Freelancers should be particularly cautious, especially since the Convenience Rule could mean double taxation for their work. 

Meanwhile, startups might be able to earn free cash through their tax credits. And today’s sponsor, Mainstreet, can help. They’ve helped over 500 founders save thousands by qualifying your business for government tax breaks. Their team will handle all the paperwork, too!

Where did we learn about this? Check out our sources: ABC News, Bloomberg, CNBC, Deadline, Wall Street Journal, Pew Research

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Climate change has caused billions of dollars in flood damages

Mon Jan 11

The dollar costs of climate change are flooding in. In fact over the past three decades, a third of all financial damages from flooding (roughly $75 billion) is attributed to climate change — not just increased property prices or population density. 

How is climate change increasing flood costs?

• First, more frequent and intense rainfall. Even in states where mean precipitation remained unchanged, the increased intensity of extreme rainfall has caused more damage than usual.
• Second, a warming atmosphere. Warmer air holds more moisture, which can lead to more rain or snow and more severe weather systems. In fact, every 2-degree Fahrenheit increase can lead to 8% more moisture. 

Though it’s not just climate change influencing the financial hits. Currently, 21 states don’t require real estate agents or home sellers to inform buyers when a home is in a flood zone and requires flood insurance. Policy makers are now working to reform the requirements to ensure homeowners are made aware of flood risks and the need to purchase flood insurance. Curious to see what the risks are in your area? Use this flood zone checker by the Federal Emergency Management Agency (FEMA).

Where did we learn about this? Check out our sources: CBS News, Grist, ScienceDaily

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Colombia’s got 99 problems — and 80 of them are hippos

Tue Jan 19

Is Colombia playing Jumanji? The country is trying to find a solution to their growing hippo population as it becomes a strain on their ecosystem. It all began in 1980, when infamous drug lord Pablo Escobar imported four hippos to his private zoo. After his death, all his exotic animals were relocated except the hippos, which were too large to capture and transport.

Now the hippo population in Colombia is 80 strong, dispersed about 100 miles away from the Escobar estate. Along with their growth comes a host of concerns:

• Hippos are aggressive towards humans, killing more people each year than any other large mammal. And last May, a 45-year-old man was attacked and seriously injured.
• Meanwhile hippo waste is increasing oxygen levels in bodies of water, resulting in disruption to the fish in the ecosystem as well as concerns about disease transmission to humans.

Despite the issues, Colombians don’t want the hippos removed. In fact, we first covered this story in February, at which time residents were trying to deal with the situation in a humane way through sterilization. One year later, it does not seem like this measure has been successful in curbing the population growth, so researchers are recommending extermination. Killing the hippos was first attempted in 2009 but met with public protest. 

Where did we learn about this? Thank you to Sherri Totoki, who found this under-covered story and submitted it to our team (through the form at the end of this email). We used these sources: Below the Fold, CNN, and Gizmodo

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