88%

A recent report by the Tax Foundation indicated that 88% of respondents believe that the United States federal tax code needs reform. This was part of a broader study to assess current sentiment around federal taxes, as well as mastery of key concepts related to taxation. 

Younger and middle-aged respondents (18-45) generally demonstrated a higher level of mastery on most tax knowledge questions compared to older age groups. Income was also a differentiator, as respondents with higher household incomes ($75,000 and above) tended to perform better on tax knowledge questions. Educational attainment was also analyzed, with higher education levels correlating to a stronger understanding of key tax concepts. 

26%

A recent report by The Pew Charitable Trusts outlined the struggle of rural homeowners to secure mortgage financing for the purchase of an affordable home. From 2021 to 2023, the nation’s rural population increased by almost 600,000 (about 1.2%), driving additional housing demand and contributing to fast-rising home prices in rural areas, a statistic Pew credits in part to more flexible work arrangements. Median home values in rural areas remain below those of urban areas.

Despite affordability, many would-be homeowners struggle to secure a mortgage, due in part to financial institutions’ higher origination costs and lower returns on loans less than $150,000, as well as a myriad of regulatory obstacles. Across the country, just 26% of low-cost homes were bought using a mortgage from 2004 to 2022, compared with 71% of higher-cost homes.

Without access to financing, many prospective homeowners turn to alternative arrangements like personal property loans, which lack control and oversight and are considered riskier. Another subset turns to cash purchases, but overwhelmingly that option excludes first-time home buyers, 97% of whom use a mortgage, according to the Pew report. Others simply forego home ownership, which has significant impacts on their personal economic security. For example, Pew shares that in 2019, the median homeowner had $225,000 of equity, accounting for almost 90% of their overall net worth.

20

Beginning January 1, 2025, all pregnant New York private sector workers are now afforded 20 annual hours of paid prenatal leave, regardless of length of employment or size of employer. The time off, separate from other existing sick time policies, can be used for prenatal appointments, pregnancy-related hospitalization, or fertility treatments. New York is the first state in the nation to pass such a measure.

The legislation was introduced at the urging of Governor Kathy Hochul, who cited significant increases in national infant mortality rates over the last year as the need for stronger protections for access to prenatal care. 

87

The 109th Nebraska Legislature convened on Wednesday, meaning 87 legislative days remain in the long session. Senators will grapple with a $432 million budget shortfall as they create the biennial budget and address key priorities of Governor Jim Pillen, including re-imaginging the state’s K-12 financing formula.  

OpenSky will be here to keep you updated throughout the session, and a constant presence in the Capitol, testifying in hearings, providing research and analysis to senators and staff, and monitoring legislative debate.

If you’d like to hear from the experts on ways you can engage effectively with your State Senator, join us on Friday, January 17, 2025 at noon for a webinar featuring four current legislative staff members who will offer insights on the operation of a senator’s office and how to make your voice heard. Register here.