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Priceless Vol 7 Number 8

Omega Psi Phi Tri-Chapter Mardi Gras in Hampton

Page 8

Tweaks to VA Transportation Plan Fail to Satisfy Critics

Personal and Professional Empowerment

Serving Norfolk, Portsmouth, Chesapeake, Hampton, Newport News, Suffolk, and Virginia Beach since 2006

2013 MEAC Basketball Tournament in Norfolk

Page 9

HU Student Receives Award for Doctoral Study

Page 6

46th Annual Hampton Jazz Festival Lineup Announced

The 17.5 cents-per-gallon tax may be going away, but even with Gov. Bob McDonnell’s amendments this week, plenty of others are going up.


Bob McDonnell tweaked the divisive transportation bill that increases taxes, yet taxes are still going up — way up.

The governor’s revisions,

which now go back to the General Assembly, reduce a few taxes in what some have dubbed one of the largest tax increases in Virginia history, but they don’t eliminate any. And most of the tax increases —such as the state sales tax bump from 5 percent to 5.3 percent — stay the same. If McDonnell’s projections are accurate, the revised bill would raise $5.9 billion for roads over the next five years.

Here’s what McDonnell did:

• lowered the titling tax increase from 4.3 percent to 4.15 percent

• lowered annual fees on alternative vehicles from $100 to $64

• reduced the transient occupancy (hotel) tax increase in Northern Virginia from 3 percent to 2 percent

• reduced the regional grantor’s tax from 25 cents on every $100 dollars to 15 cents on every $100.

Not everyone is satisfied. “These changes are nothing

to celebrate — if adopted by the General Assembly, they will render a bad bill a little less bad,” wrote James Bacon, author of the popular Bacon’s Rebellion political blog.

“The only way one could

argue that higher taxes would create new jobs and economic activity, as opposed to shifting them from one sector of the economy to the other, is if the investments stimulated economic activity that would not have occurred otherwise. But there is simply no way to know if will happen.”

McDonnell’s amendments

barely passed constitutional TRANSPORTATION PLAN PAGE 6


Education Editorial Career Opportunities Hampton Roads Upcoming Events Scholarships Watch

A Positive Attitude Can Promote Success It’s Time to Fix Warped Incentives in College Sports

Become a State Farm Agent Senior Real Estate Tax Relief Newport News Sheriff's Office Shred Day Event 2013 Samsung Scholarship Program

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HAMPTON, VA. -- The 46th Annual

Hampton Jazz Festival announced the lineup of artists to perform at this year’s event. The festival will take place over a 3-day period at Hampton Coliseum on June 28-29-30, 2013.

Friday’s lineup will feature two of the Hampton Jazz Festival’s favorite performers:

Gladys Knight and The O’Jays. Not only will they each sing all of their hits, but they will perform many songs together. This will be a performance festival fans will not want to miss. Also appearing on Friday night will be another festival favorite – KEM, who never ceases to amaze audiences with his intensely JAZZ FESTIVAL PAGE 15

Simple Ways for Young People to Rev Up Their Savings

Meet your goals with automated deposits and investments Many people starting out in their careers

find themselves burdened with lots of debt (perhaps from student loans, credit cards and car loans) and very little savings for future needs. But there are simple strategies for gradually building small savings or investments into large sums, even during your school years, and often with the help of automated services that make it easy. Here are key examples.

Save for specific goals. You should have

a savings plan for large future expenses that you anticipate — perhaps education costs, a home or car purchase, starting a small business, or preparing for retirement (even though that may be many years away). And, young adults just starting to be responsible for their own expenses should build up an “emergency” fund that would cover at least six months of living expenses to help get through a difficult time, such as a job loss, major car repairs or unexpected medical expenses not covered by insurance.

Commit to saving money regularly. This

is important for everyone, but especially if you are supporting yourself financially.

“Even if you don’t make a big salary or have a steady source of income, the

Free April 2013

combination of consistently adding to savings and the compounding of interest can bring dramatic results over time,” said Luke W. Reynolds, Acting Associate Director of the FDIC’s Division of Depositor and Consumer Protection.


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