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~$CPIL$372150$title$textbox$Wicklow Site Acquisition Part of Wider Irish Expansion Plan - Zoetis$/CPIL$~




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Zoetis Completes Site Expansion in Lincoln, Nebraska

Zoetis marked the completion of a 19,000-square-foot, three-story expansion at its manufacturing site in Lincoln, Nebraska.




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Dassault Systèmes’ 3DEXPERIENCE Lab Accelerates Expansion and Consolidates Global Network to Develop Projects That Positively Impact Society

•Fifteen new disruptive projects and startups from Belgium, China, France, India, South Africa and the U.S. join the 3DEXPERIENCE Lab accelerator program •New incubator and fab lab partners including Centech in Canada and OuiCrea in China will empower early stage projects from the outset •Since 2015, the 3DEXPERIENCE Lab has evaluated nearly 500 projects and grown its network of mentors to 1,200




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EBRD president looks to African expansion

The EU is considering a broader mandate for the EBRD, and its president, Sir Suma Chakrabarti, believes its model would work in sub-Saharan Africa.




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Zonamerica looks beyond Latin America for expansion opportunities

Uruguay-based Zonamerica has successfully expanded into Colombia and China, and is now looking to export its model to other parts of Asia and Africa.





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In Illinois, storage is among the next hurdles for renewables expansion

ComEd sees a significant role for energy storage on Illinois’ electric grid as the state works toward realizing its ambitious renewable goals.





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In Illinois, storage is among the next hurdles for renewables expansion

ComEd sees a significant role for energy storage on Illinois’ electric grid as the state works toward realizing its ambitious renewable goals.




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Demand Management to Aid Renewable Energy Expansion

As more intermittent renewable capacity is added to grid networks around the world, the need for greater system flexibility in order to cope with the variable supply is growing. In parts of the Europe, grid operators complain that balancing the system is becoming more and more difficult as new renewable sources are added, requiring ever more complex management techniques, as well as repeated use of polluting and inefficient standby capacity. Surges of solar and wind power are often not fully utilised, causing some to question the wisdom of adding further variable renewable capacity.




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In Illinois, storage is among the next hurdles for renewables expansion

ComEd sees a significant role for energy storage on Illinois’ electric grid as the state works toward realizing its ambitious renewable goals.





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New Findings on Links between Urban Expansion and Viral Disease in Vietnam Offer Lessons for COVID-19

By James H. Spencer, Sumeet Saksena, and Jefferson Fox HONOLULU (1 April 2020)—The current COVID-19 pandemic, which started in Wuhan, China, underscores what the public health community has warned about for more than two decades—the risk of viral diseases capable of spreading from animal to human hosts. The first outbreaks of “bird flu” (highly pathogenic avian influenza―HPAI, subtype H5N1) raised similar concerns 20 years ago―concerns that have persisted with the outbreak of SARS in 2002–2004 and COVID-19 today. New outbreaks of avian influenza are also still occurring in poultry and humans, primarily in Asia but also in other parts of the world.

This is a summary only. Click the title for the full article, or visit www.EastWestCenter.org/Research-Wire for more.




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Maharashtra Rural High Voltage Distribution System Expansion Program

Approved project 50193-003 in India.




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Loan No. 3350-BAN: Power System Expansion and Efficiency Improvement Investment Program - Tranche 3 [PPMW-01]




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Public Access Expansion and PMC

Last month marked the third anniversary of the White House’s Office of Science and Technology Policy (OSTP) memorandum directing Federal agencies with more than $100 million in annual research and development (R&D) expenditures to develop plans for increasing public access to the results of the research they support, including scholarly publications. As a result of this directive, in 2015, PMC started providing support as a public access repository for funding agencies beyond the National Institutes of Health (NIH) and Howard Hughes Medical Institute (HHMI).

As of March 2015, the following additional agencies are using the NIH Manuscript Submission (NIHMS) system to facilitate the deposit in PMC of peer-reviewed manuscripts that fall under their public access policies:

  • Agency for Healthcare Research Quality (AHRQ/HHS)
  • Centers for Disease Control and Prevention (CDC/HHS),
  • Food and Drug Administration (FDA/HHS),
  • National Institute of Standards and Technology (NIST), and
  • U.S. Department of Veterans Affairs (VA)

Additionally, the following additional HHS and other federal agencies have announced public access plans and committed to using PMC as the repository for agency-funded publications:

  • Administration for Community Living (ACL/HHS)
  • Assistant Secretary for Preparedness and Response (ASPR/HHS)
  • Environmental Protection Agency (EPA)
  • National Aeronautics and Space Administration (NASA)

PMC will continue to update the list of participating funding agencies at Public Access and PMC as these agencies begin implementation of their policies.

More information about the current status of public access expansion as a result of the OSTP memo can be found on the White House blog.




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Phase I Dose-Escalation and -Expansion Study of Telisotuzumab (ABT-700), an Anti-c-Met Antibody, in Patients with Advanced Solid Tumors

This first-in-human phase I study evaluated the pharmacokinetics, safety, and preliminary efficacy of telisotuzumab, formerly called ABT-700, an antagonistic antibody directed against c-Met. For dose escalation (3+3 design), 3 to 6 patients with advanced solid tumors were enrolled into four dose cohorts (5–25 mg/kg). In the dose-expansion phase, a subset of patients was prospectively selected for MET amplification (FISH screening). Patients received telisotuzumab intravenously on day 1 every 21 days. For dose expansion, 15 mg/kg was chosen as the dose on the basis of safety, pharmacokinetics, and other data from the escalation cohorts. Forty-five patients were enrolled and received at least one dose of telisotuzumab (dose escalation, n = 15; dose expansion, n = 30). Telisotuzumab showed a linear pharmacokinetics profile; peak plasma concentration was proportional to dose level. There were no acute infusion reactions and no dose-limiting toxicities were observed. The most common treatment-related adverse events included hypoalbuminemia (n = 9, 20.0%) and fatigue (n = 5, 11.1%). By Response Evaluation Criteria In Solid Tumors (RECIST), 4 of 10 (40.0%) patients with MET-amplified tumors had confirmed partial response in target lesions (one ovarian, two gastric, and one esophageal), two (20.0%) had stable disease, three (30.0%) had progressive disease; one patient was unable to be evaluated. Among patients with nonamplified tumors (n = 35), no objective responses were observed; however, 11 patients had stable disease per RECIST criteria. In conclusion, telisotuzumab has an acceptable safety profile with clinical activity observed in patients with MET-amplified advanced solid tumors.




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Tracing the Evolutionary History and Global Expansion of Candida auris Using Population Genomic Analyses

ABSTRACT

Candida auris has emerged globally as a multidrug-resistant yeast that can spread via nosocomial transmission. An initial phylogenetic study of isolates from Japan, India, Pakistan, South Africa, and Venezuela revealed four populations (clades I, II, III, and IV) corresponding to these geographic regions. Since this description, C. auris has been reported in more than 30 additional countries. To trace this global emergence, we compared the genomes of 304 C. auris isolates from 19 countries on six continents. We found that four predominant clades persist across wide geographic locations. We observed phylogeographic mixing in most clades; clade IV, with isolates mainly from South America, demonstrated the strongest phylogeographic substructure. C. auris isolates from two clades with opposite mating types were detected contemporaneously in a single health care facility in Kenya. We estimated a Bayesian molecular clock phylogeny and dated the origin of each clade within the last 360 years; outbreak-causing clusters from clades I, III, and IV originated 36 to 38 years ago. We observed high rates of antifungal resistance in clade I, including four isolates resistant to all three major classes of antifungals. Mutations that contribute to resistance varied between the clades, with Y132F in ERG11 as the most widespread mutation associated with azole resistance and S639P in FKS1 for echinocandin resistance. Copy number variants in ERG11 predominantly appeared in clade III and were associated with fluconazole resistance. These results provide a global context for the phylogeography, population structure, and mechanisms associated with antifungal resistance in C. auris.

IMPORTANCE In less than a decade, C. auris has emerged in health care settings worldwide; this species is capable of colonizing skin and causing outbreaks of invasive candidiasis. In contrast to other Candida species, C. auris is unique in its ability to spread via nosocomial transmission and its high rates of drug resistance. As part of the public health response, whole-genome sequencing has played a major role in characterizing transmission dynamics and detecting new C. auris introductions. Through a global collaboration, we assessed genome evolution of isolates of C. auris from 19 countries. Here, we described estimated timing of the expansion of each C. auris clade and of fluconazole resistance, characterized discrete phylogeographic population structure of each clade, and compared genome data to sensitivity measurements to describe how antifungal resistance mechanisms vary across the population. These efforts are critical for a sustained, robust public health response that effectively utilizes molecular epidemiology.




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ACA Medicaid Expansion and Insurance Coverage Among New Mothers Living in Poverty

BACKGROUND:

Medicaid plays a critical role during the perinatal period, but pregnancy-related Medicaid eligibility only extends for 60 days post partum. In 2014, the Affordable Care Act’s (ACA’s) Medicaid expansions increased adult Medicaid eligibility to 138% of the federal poverty level in participating states, allowing eligible new mothers to remain covered after pregnancy-related coverage expires. We investigate the impact of ACA Medicaid expansions on insurance coverage among new mothers living in poverty.

METHODS:

We define new mothers living in poverty as women ages 19 to 44 with incomes below the federal poverty level who report giving birth in the past 12 months. We use 2010–2017 American Community Survey data and a difference-in-differences approach using parental Medicaid-eligibility thresholds to estimate the effect of ACA Medicaid expansions on insurance coverage among poor new mothers.

RESULTS:

A 100-percentage-point increase in parental Medicaid-eligibility is associated with an 8.8-percentage-point decrease (P < .001) in uninsurance, a 13.2-percentage-point increase (P < .001) in Medicaid coverage, and a 4.4-percentage-point decrease in private or other coverage (P = .001) among poor new mothers. The average increase in Medicaid eligibility is associated with a 28% decrease in uninsurance, a 13% increase in Medicaid coverage, and an 18% decline in private or other insurance among poor new mothers in expansion states. However, in 2017, there were ~142 000 remaining uninsured, poor new mothers.

CONCLUSIONS:

ACA Medicaid expansions are associated with increased Medicaid coverage and reduced uninsurance among poor new mothers. Opportunities remain for expansion and nonexpansion states to increase insurance coverage among new mothers living in poverty.




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The Impact of Medicaid Expansion on Diabetes Management

OBJECTIVE

Diabetes is a chronic health condition contributing to a substantial burden of disease. According to the Robert Wood Johnson Foundation, 10.9 million people were newly insured by Medicaid between 2013 and 2016. Considering this coverage expansion, the Affordable Care Act (ACA) could significantly affect people with diabetes in their management of the disease. This study evaluates the impact of the Medicaid expansion under the ACA on diabetes management.

RESEARCH DESIGN AND METHODS

This study includes 22,335 individuals with diagnosed diabetes from the 2011 to 2016 Behavioral Risk Factor Surveillance System. It uses a difference-in-differences approach to evaluate the impact of the Medicaid expansion on self-reported access to health care, self-reported diabetes management, and self-reported health status. Additionally, it performs a triple-differences analysis to compare the impact between Medicaid expansion and nonexpansion states considering diabetes rates of the states.

RESULTS

Significant improvements in Medicaid expansion states as compared with non–Medicaid expansion states were evident in self-reported access to health care (0.09 score; P = 0.023), diabetes management (1.91 score; P = 0.001), and health status (0.10 score; P = 0.026). Among states with large populations with diabetes, states that expanded Medicaid reported substantial improvements in these areas in comparison with those that did not expand.

CONCLUSIONS

The Medicaid expansion has significant positive effects on self-reported diabetes management. While states with large diabetes populations that expanded Medicaid have experienced substantial improvements in self-reported diabetes management, non–Medicaid expansion states with high diabetes rates may be facing health inequalities. The findings provide policy implications for the diabetes care community and policy makers.




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Microencapsulated G3C Hybridoma Cell Graft Delays the Onset of Spontaneous Diabetes in NOD Mice by an Expansion of Gitr+ Treg Cells

As an alternative to lifelong insulin supplementation, potentiation of immune tolerance in patients with type 1 diabetes could prevent the autoimmune destruction of pancreatic islet β-cells. This study was aimed to assess whether the G3c monoclonal antibody (mAb), which triggers the glucocorticoid-induced TNFR-related (Gitr) costimulatory receptor, promotes the expansion of regulatory T cells (Tregs) in SV129 (wild-type) and diabetic-prone NOD mice. The delivery of the G3c mAb via G3C hybridoma cells enveloped in alginate-based microcapsules (G3C/cps) for 3 weeks induced Foxp3+ Treg-cell expansion in the spleen of wild-type mice but not in Gitr–/– mice. G3C/cps also induced the expansion of nonconventional Cd4+Cd25–/lowFoxp3lowGitrint/high (GITR single-positive [sp]) Tregs. Both Cd4+Cd25+GitrhighFoxp3+ and GITRsp Tregs (including also antigen-specific cells) were expanded in the spleen and pancreas of G3C/cps-treated NOD mice, and the number of intact islets was higher in G3C/cps-treated than in empty cps-treated and untreated animals. Consequently, all but two G3C/cps-treated mice did not develop diabetes and all but one survived until the end of the 24-week study. In conclusion, long-term Gitr triggering induces Treg expansion, thereby delaying/preventing diabetes development in NOD mice. This therapeutic approach may have promising clinical potential for the treatment of inflammatory and autoimmune diseases.




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Targeting HER2 with Trastuzumab Deruxtecan: A Dose-Expansion, Phase I Study in Multiple Advanced Solid Tumors [Research Articles]

HER2-targeted therapies are approved only for HER2-positive breast and gastric cancers. We assessed the safety/tolerability and activity of the novel HER2-targeted antibody–drug conjugate trastuzumab deruxtecan (T-DXd) in 60 patients with pretreated, HER2-expressing (IHC ≥ 1+), non-breast/non-gastric or HER2-mutant solid tumors from a phase I trial (NCT02564900). Most common (>50%) treatment-emergent adverse events (TEAE) were nausea, decreased appetite, and vomiting. Two drug-related TEAEs were associated with fatal outcomes. The confirmed objective response rate (ORR) was 28.3% (17/60). Median progression-free survival (PFS) was 7.2 [95% confidence interval (CI), 4.8–11.1] months. In HER2-mutant non–small cell lung cancer (NSCLC), ORR was 72.7% (8/11), and median PFS was 11.3 (95% CI, 8.1–14.3) months. Confirmed responses were observed in six tumor types, including HER2-expressing NSCLC, colorectal cancer, salivary gland cancer, biliary tract cancer, endometrial cancer, and HER2-mutant NSCLC and breast cancer. Results suggest T-DXd holds promise for HER2-expressing/mutant solid tumors.

Significance:

T-DXd demonstrated promising activity in a heterogeneous patient population with heavily pretreated HER2-expressing or HER2-mutant solid tumors, especially HER2-mutant NSCLC. The safety profile was generally acceptable. Interstitial lung disease can be severe and requires prompt monitoring and intervention. Further research of T-DXd is warranted to address these unmet medical needs.

See related commentary by Rolfo and Russo, p. 643.

This article is highlighted in the In This Issue feature, p. 627




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The expansion of coworking spaces in HCMC’s central districts

The low supply of traditional office space expanding in central districts of Ho Chi Minh City (HCMC) has lead to the growth of coworking spaces, or flexible office spaces there.




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Mortal Kombat 11: Aftermath Expansion Announced, Adds 3 New Characters and New Story

Publisher Warner Bros. Interactive Entertainment and developer NetherRealms Studios have announced a new expansion for Mortal Kombat 11 called Aftermath. It will release on May 26.

The Mortal Kombat 11: Aftermath expansion adds a new cinematic story, three characters and three new skins for $39.99. The three new characters are Fujin, Sheeva, and RoboCop).

A $59.99 Mortal Kombat: Aftermath Kollection has also been announced. It includes the base game, Kombat Pack DLC and the Aftermath expansion. 

View the announcement trailer for the expansion and RoboCop reveal trailer below:

Here is an overview of the expansion:

Mortal Kombat 11: Aftermath is a new expansion for the hit videogame, Mortal Kombat 11, the best-selling title in franchise history that was named Fighting Game of the Year at the 2019 D.I.C.E. Awards. Developed by award-winning NetherRealm Studios, Mortal Kombat 11: Aftermath expands the critically acclaimed story campaign with an all-new, cinematic narrative centered around trust and deceit, while also adding new playable characters in returning Mortal Kombat fighters, Fujin and Sheeva, and guest character, RoboCop, who is making his series debut.

Key Features:

  • Franchise-First Story Expansion – The critically acclaimed story campaign continues with an all-new cinematic narrative that picks up directly where Mortal Kombat 11 left off. Fire God Liu Kang, the new keeper of time and protector of Earthrealm, must now enlist the help of unlikely allies and familiar foes to forge a new history as the fate of two worlds hang in the balance.
  • Exciting New Characters Join the Roster – New playable characters join the fight with the triumphant return of Fujin, the God of Wind who serves as Earthrealm’s protector alongside his brother Raiden, and Sheeva, the fourarmed, half-human and half-dragon queen of the ancient Shokan race. RoboCop, the iconic, highly advanced cybernetic police officer, makes his first appearance in the franchise, continuing the pedigree of popular Mortal Kombat guest fighters. RoboCop in Mortal Kombat 11: Aftermath features the voice and likeness of actor Peter Weller, who portrayed the popular character in both the original RoboCop (1987) film and RoboCop 2 (1990) sequel. Mortal Kombat 11: Aftermath will also include three new character skin packs to be released over time.
  • Fan-Favorite Stages, Stage Fatalities & Friendships Return – In conjunction with the Mortal Kombat 11: Aftermath release, all Mortal Kombat 11 owners will have access to a free content update featuring new Stages, including the return of the Klassic Dead Pool and Soul Chamber arenas; Stage Fatalities, the fan-favorite finishing moves that use the environment to destroy opponents; and the popular Friendships feature, allowing players to take down their adversaries with a hint of kindness.
  • New Players Can Join the Fight with Mortal Kombat 11: Aftermath Kollection – Offers the perfect opportunity for new players to join the fight, featuring all characters, story content, game modes and pre-order bonuses in one ultimate package. This compilation includes Mortal Kombat 11 along with all content from Mortal Kombat 11: Aftermath and the previously released Mortal Kombat 11 Kombat Pack, containing six playable characters—Shang Tsung, Nightwolf, Sindel, Terminator T-800, The Joker and Spawn – plus 25 additional character skins. The Mortal Kombat 11: Aftermath Kollection can be pre-ordered for $59.99 (SRP) with digital pre-orders offering immediate access to Mortal Kombat 11 and the Kombat Pack upon purchase. The physical version will be available this June in the Americas only.
  • Upgrade Options for Current Mortal Kombat 11 Owners – Those who have already purchased Mortal Kombat 11 can pre-order the Mortal Kombat 11 Aftermath expansion for $39.99 (SRP) or the Mortal Kombat 11: Aftermath + Kombat Pack Bundle for $49.99 (SRP).
  • Pre-order for Exclusive Content – All preorders* receive the Eternal Klash Skin Pack at launch, featuring three new character skin variants – “Unbound Rage” Scorpion inspired by Mortal Kombat (2011), “Son of Arctika” Sub-Zero inspired by Mortal Kombat: Deception and “Kori Power” Frost, a Klassic version of the Lin Kuie warrior.
  • Best-In-Class, Brutal Kombat  Mortal Kombat 11 is the latest installment in the critically acclaimed franchise, providing a deeper and more personalized experience than ever before. The best-selling title is packed to the brim with multiple features and modes for all players, including the Story mode, Custom Character Variation System, Towers of Time, Kombat League, The Krypt and the signature roster returning and franchise-first fighters, all equipped with powerful Krushing Blows and unique Fatalities that display devastatingly brutal cinematic visuals.

A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.

Full Article - https://www.vgchartz.com/article/443404/mortal-kombat-11-aftermath-expansion-announced-adds-3-new-characters-and-new-story/




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Expansion debate rumbles on amid hush over Britain’s biggest airports

To campaigners’ dismay, the UK’s biggest hubs, Heathrow and Gatwick, are pushing on with plans to increase capacity

Christine Taylor has lived her entire life in the shadow of London’s Heathrow airport, her childhood bedroom affording a view of one of its two runways. She grew up in Sipson, a village that can trace its history back more than 1,000 years, but now sits immediately north of Britain’s busiest airline hub.

Now living a mile to the east in Harlington, Taylor, 62, is experiencing a rare moment of quiet, thanks to the dramatic reduction in air traffic caused by the coronavirus pandemic.

Continue reading...




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Frontier, amid bankruptcy, is suspected of lying about broadband expansion

Small ISPs want investigation as Frontier tries to block FCC funding for rivals.




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Liverpool delay Anfield Road expansion work by &apos;at least&apos; 12 months

Liverpool have confirmed that plans to expand the Anfield Road end of the club's home ground have been delayed by 'at least' 12 months due to the impact of the coronavirus pandemic.




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Controversial San Bernardino airport cargo expansion approved

Inland Empire residents have protested the airport expansion — rumored to be an Amazon project — for months. On Monday, airport officials approved the project.




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Amgen ramps up Otezla expansion effort with positive data in mild psoriasis

Amgen is planning to file for FDA approval of Otezla in mild to moderate plaque psoriasis based on new data showing patients on the drug experienced significant improvements in their symptoms. The label expansion will be key to Amgen's ability to recoup the $13.4 billion it paid to acquire the drug from Celgene last year.




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Amin Talati Continues its Expansion in Washington DC With Addition Of Dietary Supplement Industry Leader

Rend Al-Mondhiry has joined the firm Amin Talati from the Council for Responsible Nutrition (CRN) as Senior Counsel, resident in the Washington, D.C. Office.




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Yokogawa Takes a Stake in All Polymer Battery Maker APB to Drive Expansion of Energy Management System Business

Yokogawa Electric Corporation (TOKYO: 6841) announces that it has acquired capital in APB Corporation (APB), a pioneer in the development of a next-generation lithium-ion battery called the “All Polymer Battery,” with the aim of growing Yokogawa’s energy management system (EMS) business. The two companies have agreed that Yokogawa will provide energy management technology needed for the efficient operation and optimization of large-scale storage batteries.




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Are Obama and Ryan Proposals for an EITC Expansion Pro- or Anti- Mobility?


There’s at least one policy that both parties agree has been successful in combatting poverty: the Earned Income Tax Credit (EITC). And rightly so – in 2012, the EITC pulled 6.5 million people out of poverty, including around 3.3 million children. Politicians on both sides of the fence have put forward plans for expanding the EITC to unmarried childless adults, including President Obama and Rep. Paul Ryan who propose very similar expansions. As Dylan Matthews of Vox.com puts it: “Ryan's proposal is almost identical to President Obama's, included in his current budget; the only difference is that Obama would also increase the maximum age one can claim the EITC from 65 to 67.” There is however a large difference in the plans: how, and by whom, this expansion will be paid for.

Similarities in the Obama and Ryan EITC expansions

Created in 1975, the Earned Income Tax Credit is a refundable tax credit available to low income working Americans intended to both improve the lives of poor children and promote work. In keeping with these goals, families with more children are eligible for higher benefits and the credit increases as an individual’s earnings increase before plateauing and then tapering off.

Recently, there has been a growing consensus that we should expand the level of benefits available to childless workers – including a proposal from our own Isabel Sawhill. Obama and Ryan have presented proposals to expand EITC to childless workers with the express goal of targeting groups with low or declining workforce participation such as low-income, low-education men and women without children. Both proposals double the maximum credit for childless adults to around $1000 and increases the income level at which the benefit begins to around $18,000.

Budget or Spending Neutral: Paying for the EITC

Obama and Ryan take different approaches to funding the proposal. True to their party lines, Obama’s proposal is fiscally, but not spending neutral, whereas Ryan eschews higher tax rates in favor of cutting spending. Table 1 describes each plan’s funding proposal:

Funding President Obama’s EITC Expansion

The first portion of Obama’s funding mechanism is taxing carried interest as ordinary income. What is carried interest? In short, managers of certain types of investment groups, such as private equity firms or hedge funds, are entitled a share of the profits of the investment fund in excess of the amount of capital they invest in the firm. That share, which makes up about one-third of the income that private equity general partners receive, is taxed at the lower rate assigned to capital gains.

Supporters of the current policy argue that carried interest should be treated similarly to capital gains from a non-managing partner’s financial investment in the firm. In contrast, supporters of reform say that carried interest represents compensation for services (i.e., managing the fund), not a return on investment and should thus be treated like a salary for tax purposes. For a more thorough explanation of the arguments for and against this proposal, see the Tax Policy Center’s explanation of carried interest.

This change in the tax system would mainly impact the so-called One-Percenters – the average salary for a hedge fund manager is around $2.2 million a year. Taxing carried interest like wage and salary income would raise about $15 billion in revenue over five years, according to the Joint Committee on Taxation.

The second part of Obama’s plan to fund the expansion of the EITC is to close a loophole in current tax law that allows individuals who own their own professional services business to avoid paying payroll taxes by classifying some of their income earnings as profits from pass‐through entities. This proposal is similar to one proposed by Senate Democrats which would require Americans with incomes over $250,000 a year who work in professional services firms, such as law, consulting, or lobbying, that derive over 75% of their profits from the service of 3 or fewer individuals to pay payroll taxes on all income from their partnership in that firm.

Funding Rep. Ryan’s EITC Expansion

The first portion of Ryan’s funding mechanism suggests cutting funding for the following programs, which he describes as “ineffective”:

Table 1. Proposed budget cuts under Ryan’s Poverty Proposal

Program

Purpose

Social Security Block Grant

Flexible funding source that allows states to allocate funds to vulnerable populations, primarily low- and moderate-income children and people who are elderly or disabled. Initiatives funded through SSBGs include daycare, health related services, substance abuse services, housing, and employment services.

Fresh Fruits and Vegetables Program

Initiative that provides free fresh fruits and vegetables to students in participating elementary schools during the school day with the goal of improving children’s diet and health by changing attitudes about healthy eating.

Economic Development Administration

Government agency that provides grants and technical assistance to economically distressed communities with the goal of attracting private investment in these communities and job creation. Example initiatives include the Public Works Program and the Trade Adjustment Assistance for Firms.

Farmers’ Market Nutrition Program

Part of the Special Supplemental Nutrition Program for Women, Infants and Children, commonly known as WIC. WIC provides supplemental foods, health care referrals and nutrition education at pregnant and post-partum women, infants, and children up to 5 years of age who are found to be at nutritional risk. FMNP specifically provides WIC participants with coupons to buy fresh fruits and vegetables at farmer’s markets

Though Ryan describes these programs as ineffective, many of them provide valuable resources to the communities they serve.  Take for example, the Social Services Block Grant: it supports state services that reach 23 million people, about half of whom are children. Republicans have argued that “many of the services funded by the SSBG are duplicative of other federal programs,” citing a Government Accountability Office report . But in fact, the GAO report makes no mention of SSBG other than to note that one area in which there are not enough federally funded programs to meet need is child care, an area in which SSBG is a key source of state funding. Eliminating SSBG would only increase this gap in funding.

The other programs Ryan proposes cutting, though smaller than SSBG in scope, have important impacts as well. An evaluation of FFVP by outside consultants finds that this program significantly increased children’s intake of fruits and vegetables (both in school and at home) and increased children’s positive attitudes towards fruits and vegetables and willingness to try new fruits and vegetables.

Ryan also proposes reducing fraud in the Additional Child Tax Credit by requiring the use of Social Security Numbers. Currently, individuals can use either a SSN or the individual tax identification number (ITIN) which is given to individuals who pay United States taxes but are not eligible to obtain a SSN, such as undocumented immigrants. Claims for the ACTC by ITIN filers amounted to about $4.2 billion in pay outs in fiscal year 2010 and enacting this proposal is estimated to reduce federal outlays by about 1 billion dollars each fiscal year.

House Republicans have repeatedly argued that having the IRS pay out tax credits to undocumented workers is fraud. They claim that children with undocumented parents should not receive benefits and that such credits encourage illegal immigration. But this is a misleading characterization and puts the burden of parents’ immigration choices on the shoulders of low-income children. Eligibility for the child credit is tied to the child, not the parent and requires documentation of the child’s citizenship or residency. 82 percent of the children whose parent files with an individual taxpayer identification number are citizens. Undocumented workers are not committing fraud by claiming this credit for U.S.-born or legally resident children of immigrant parents and requiring SSNs would likely result in benefits being taken away from low-income children.

Ryan’s final source of funding is a reduction in “corporate welfare” such as subsidies to corporations for politically favored energy technologies and the Department of Agriculture’s Market Access Program which subsidizes international advertising costs for agricultural companies.

Winners and Losers under Obama's and Ryan’s EITC proposals

First, who benefits from expanding the EITC to childless workers? The Tax Policy Center’s analysis of the EITC proposal finds that those in the bottom quintile are most likely to benefit:

Source: Tax Policy Center, 2014

As the above graph shows, this tax credit is pretty successfully targeted at those who need the most help:  about one-quarter of those in the bottom income quintile would have lower taxes under the proposed expansion, but very few tax payers in higher income quintiles see any impact.

Next, who is paying for this expansion? In the graph below, we show the groups most likely to be affected by the proposed funding mechanisms, broken down by income quintile. In some cases, the group described is not necessarily a perfect match for those affected: for example, not everyone who reports capital gains is a hedge fund manager reporting carried interest as capital gains. But these populations can still give us a sense of the distributional effects of, in order, taxing carried interest as ordinary income;  closing tax loopholes for owners of S Corporations; cutting the Social Services Block Grant; cutting the Fresh Fruits and Vegetables Program; cutting the Farmers’ Market Nutrition Program; and requiring SSNs for the Additional Child Tax Credit.

The populations negatively affected by President Obama’s proposal are mostly concentrated among the top two income quintiles. For example, 75 percent of those reporting S Corporation profits are in the top two quintiles. In contrast, the populations negatively affected by Representative Ryan’s proposal are mostly concentrated in the bottom two quintiles.


Source: For data on means-tested benefits: Rector and Kim, 2008; For data on S Corporations: Tax Policy Center, 2011; For data on capital gains: Tax Policy Center, 2014


Ryan’s EITC is pro-mobility… but funding it may not be

Paul Ryan seems to be thinking seriously about the issues of poverty and social mobility. He is a reformer as well as an authentic conservative.

While his willingness to embrace EITC expansion is welcome, his proposed funding methods raise serious questions. Paying for anti-poverty programs by cutting anti-poverty programs runs the risk of being self-defeating. No doubt some of them are not working as intended. But reform is the answer, rather than abolition. Many of these programs help those in the deepest poverty - who in many cases are those least likely to benefit from welfare-to-work policies such as the EITC, according to recent research from the Center for Budget and Policy Priorities and from the National Poverty Center

Ryan's package is worthy of serious attention, not least from the perspective of social mobility. It is important, however, not to consider the impact of the EITC expansion alone, but also how - and by whom- it will be paid for. 

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expansion

All Medicaid expansions are not created equal: The geography and targeting of the Affordable Care Act

Summary Craig Garthwaite, John Graves, Tal Gross, Zeynal Karaca, Victoria Marone, and Matthew J. Notowidigdo study the effect of the Affordable Care Act Medicaid expansion on hospital services, with a focus on the geographic variations of its impact, finding that it increased Medicaid visits, decreased uninsured visits, and lead the uninsured to consume more hospital…

       




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Donald Trump’s fiscal package promises to promote expansion

One month after the election, a huge market rally shows stock-market investors like the changes Donald Trump will bring to the business world. At the same time, great uncertainty remains about the new Administration's policies toward the Middle East, Russia, trade relations, and other matters of state and defense. But on the core issues of…

       




expansion

Galapagos Islands getting major renewable energy expansion

The current wind power installation has replaced millions of liters of diesel fuel and helped protect the islands' endangered animals.




expansion

Ontario's Doug Ford's proposed natural gas expansion is like putting 42,560 cars on the road

Just what we needed in what was a decarbonizing planet.




expansion

Vedanta Resources' Orissa Bauxite Refinery Expansion Blocked by Indian Government

Two months after the Indian government stopped plans by UK-based Vedanta Resources to put a bauxite mine on a mountain held sacred by two indigenous tribal groups in Orissa, on the




expansion

Canada declares climate emergency, then approves pipeline expansion

Trudeau doesn't seem to understand what 'climate emergency' means.




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Court rules Heathrow expansion illegal, says climate crisis should have been considered

The political football that is the third runway gets kicked down again.




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Tax-News.com: COVID-19: UK Delays Expansion Of Making Tax Digital For VAT

The UK Government has announced that it will delay ramping up its Making Tax Digital project, in light of COVID-19.




expansion

Fiesta Resort Saipan to rebrand as Crowne Plaza® Resort Saipan in 2022, signalling IHG's rapid expansion in Micronesia

IHG has signed a long-term agreement with Asia Pacific Hotels Inc to take on management of Fiesta Resort & Spa Saipan, in the Commonwealth of Northern Mariana Islands, from May 20201.The impressive 416-room hotel will rebrand as Crowne Plaza® Resort Saipan in 2022 following a refurbishment, before adding a 116-room extension by 2025. Alongside IHG's October announcement that it has taken on management of the 318-room Fiesta Resort Guam, a hotel that will rebrand as a Crowne Plaza in 2021, the combined 850 room count makes the biggest ever conversion signing for IHG's Australasia, Japan and Pacific Islands region.Saipan is the largest island of the Northern Mariana Islands and is part of the Commonwealth of the United States. A 20-minute flight from Guam, Saipan is characterised by sandy shores and mountainous landscapes, and boasts several championship golf courses. It has a borderline tropical rainforest climate and, with an average year-round maximum temperature of 28.9°C, Saipan ha...




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Japan is poised for expansion but must curb government debt

Japan is poised for an economic expansion, but long-term growth prospects remain contingent on additional efforts to revitalise the economy and reduce unsustainable levels of public debt, according to the OECD’s latest Economic Survey of Japan.




expansion

Japan is poised for expansion but must curb government debt

Japan is poised for an economic expansion, but long-term growth prospects remain contingent on additional efforts to revitalise the economy and reduce unsustainable levels of public debt, according to the OECD’s latest Economic Survey of Japan.




expansion

The benefits and costs of highly expansionary monetary policy

How far to go – and to remain – in the direction of highly expansionary monetary policy hinges on the balance of marginal benefits and costs of additional monetary easing and its expected evolution over time. This paper sketches a framework for assessing this balance and applies it to four OECD economic areas: the euro area, Japan, the United Kingdom and the United States.




expansion

Spillover effects from exiting highly expansionary monetary policies

The prospective normalisation of monetary policies in the main OECD areas will be challenging given that current policy rates are likely to be significantly below neutral levels and that central bank balance sheets will be above the pre-crisis levels by a wide margin.




expansion

Latvia: Maintain robust expansion and continue reforms to achieve income convergence and more inclusive growth

Successful implementation of economic reforms has boosted the Latvian economy, leading to strong growth, rising wages and solid public finances. Further policy action is now needed to accelerate productivity growth, create jobs, drive down poverty, improve living standards and ensure that everyone benefits from more inclusive growth, according to a new report from the OECD.




expansion

Economic expansion offers Israel opportunity to move toward a more inclusive society

The Israeli economy continues to register remarkable performance, with strong growth, low and falling unemployment and sound public finances leading to the 15th consecutive year of economic expansion. Further reforms will be needed to drive down inequality and raise living standards for all Israelis, according to a new report from the OECD.




expansion

Sustaining the economic expansion in New Zealand

Ensuring that permanent spending or tax cuts are implemented in a sustainable manner would encourage the strong fiscal position that New Zealand needs to meet potentially large macroeconomic shocks and long-run ageing-related costs.




expansion

Tesla ramps up solar tile roof installations in US, eyes China and Europe expansion

Tesla appears to be ramping up installations of its solar tile roofs in the San Francisco Bay area and will eventually roll out to Europe and China, according to CEO Elon Musk, who, in a series of tweets, provided the first substantial update since the company launched the third iteration of its product in October. […]




expansion

Universities are begging for bailout after years of over-expansion, says DOMINIC SANDBROOK

DOMINIC SANDBROOK: Have you ever wondered what a perfect storm looks like? Just take a look at Britain's universities. Crippled by corruption and greed they stand on the brink of disaster.