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Posted inMoney

End to federal shutdown elusive, impact will grow in CT

Terence Ward has worked for the U.S. Justice Department for 28 years and plans to continue to do so, but after next Friday, he and all 22 employees of the federal public defender’s office in the state will work without pay if the government shutdown continues. Ward is one of about 1,500 federal employees in the state affected by the shutdown, which isn’t likely to end soon and whose impact in Connecticut will grow with time.

Posted inNews

Budget deal would rescue Newman’s Own from tax problem

WASHINGTON — A massive budget agreement headed for a vote in the Senate contains a provision that would save Newman’s Own from a thorny tax problem that threatens Paul Newman’s iconic food company. “This is not a tax break for Newman’s Own. It is simply legislative permission for us to continue to exist…,” said Bob Forrester, president and CEO of the Newman’s Own Foundation.

Posted inMoney, Politics

Tax bill glitch endangers future of Newman’s Own and actor’s foundation

WASHINGTON — The Westport-based Newman’s Own Foundation was on the verge of securing a provision in the federal tax overhaul that would have spared it from an unusual 200 percent tax hike it is facing, when the Senate parliamentarian forced lawmakers to strip it out of the massive bill. That decision could result in the sale of late actor Paul Newman’s food company and significantly damage the foundation’s ability to continue to fund charities.