عربي English Türkçe اردو فارسى
Logo
Latest News
Business

KACST, ACWA Power Sign Deal to Establish Clean Energy, Water Desalination Technologies Development Center

The center will employ artificial intelligence and advanced digital technologies - SPA
The center will employ artificial intelligence and advanced digital technologies - SPA
TT
TT

KACST, ACWA Power Sign Deal to Establish Clean Energy, Water Desalination Technologies Development Center

The center will employ artificial intelligence and advanced digital technologies - SPA
The center will employ artificial intelligence and advanced digital technologies - SPA

King Abdulaziz City for Science and Technology (KACST) and ACWA Power Company signed an agreement on Sunday to establish a joint "Clean Energy and Water Desalination Technologies Development Center", according to a press release from KACST.
KACST Vice President for the Energy and Industry Sector Dr. Saeed Al-Shehri and Executive Vice President of Innovation and New Technology Sector at ACWA Power Thomas Altmann signed the agreement in a ceremony attended by KACST President Dr. Munir bin Mahmoud Al-Desouki, ACWA Power Founder and Chairman of the Board of Directors Mohammad Abunayyan, and Senior Vice President for the Research and Development Sector of KACST Dr. Talal Al-Sudairi.
According to the press report, the center will conduct studies and scientific research, and work to attain technical development in vital areas in the clean energy and water sector, including developing solar energy technologies, energy storage technologies to support future energy networks, and innovative technologies and materials for desalination membranes, to reduce costs and emissions of desalination processes.
The center will employ artificial intelligence and advanced digital technologies to help the process of research and achieve goals, SPA reported.
The joint center also aims to increase the contribution of ACWA Power in the complex of national laboratories and innovation oases, to spread the culture of cooperation and innovation in the academic community and the business sector, and to transfer innovative water desalination technology to various areas of the industrial sector.

Most Viewed

 
 
Business

Trump Says He Will End All Taxes on Overtime if Elected 

Republican presidential nominee former President Donald Trump motions while attending the 9/11 Memorial ceremony on the 23rd anniversary of the Sept. 11, 2001 terror attacks, Wednesday, Sept. 11, 2024, in New York. (AP)
Republican presidential nominee former President Donald Trump motions while attending the 9/11 Memorial ceremony on the 23rd anniversary of the Sept. 11, 2001 terror attacks, Wednesday, Sept. 11, 2024, in New York. (AP)
TT
TT

Trump Says He Will End All Taxes on Overtime if Elected 

Republican presidential nominee former President Donald Trump motions while attending the 9/11 Memorial ceremony on the 23rd anniversary of the Sept. 11, 2001 terror attacks, Wednesday, Sept. 11, 2024, in New York. (AP)
Republican presidential nominee former President Donald Trump motions while attending the 9/11 Memorial ceremony on the 23rd anniversary of the Sept. 11, 2001 terror attacks, Wednesday, Sept. 11, 2024, in New York. (AP)

Republican US presidential candidate Donald Trump said on Thursday that he will end all taxes on overtime pay as part of a wider tax cut package, if he is elected in the Nov. 5 election.

"As part of our additional tax cuts, we will end all taxes on overtime," Trump said in remarks at a rally in Tucson, Arizona. "Your overtime hours will be tax-free."

Trump, who faces Democratic Vice President Kamala Harris in what polls show to be a tight race, has previously said he would seek legislation to end the taxation of tips to aid service workers. Harris has made a similar pledge.

"He is desperate and scrambling and saying whatever it takes to try to trick people into voting for him," a Harris campaign spokesperson said in response to Trump's proposal on Thursday.

At a campaign event this month with union workers, Harris accused Trump of "blocking" overtime from millions of workers during his 2017-2021 presidency.

In 2019, the Trump administration issued a rule increasing the eligibility of overtime pay to 1.3 million additional US workers, replacing a more generous proposal that had been introduced by President Barack Obama, Trump's Democratic predecessor.

The Trump administration raised the salary level for exemption from overtime pay to $35,568 a year, up from the long-standing $23,660 threshold. Workers’ rights groups criticized the move, saying it covered far fewer workers than the scheme introduced under Obama.

Under Obama, the Labor Department proposed raising the threshold to more than $47,000, which would have made nearly 5 million more workers eligible for overtime. That rule was later struck down in court.

Overtime pay at these income levels overwhelmingly benefits blue-collar workers, such as fast-food workers, nurses, store assistants and other low-income employees.

"The people who work overtime are among the hardest working citizens in our country and for too long no one in Washington has been looking out for them," Trump said on Thursday.

Under Labor Department rules, eligible workers must be paid at least time-and-a-half for hours worked above 40 hours in a single work week.

As of last month, American factory workers in non-supervisory roles put in an average of 3.7 hours of overtime a week, data from the Bureau of Labor Statistics shows.

Not taxing overtime would result in less government revenue, at a time when Trump's plan to permanently extend the tax cuts he passed as president would expand the US deficit by $3.5 trillion through 2033, according to the non-partisan Congressional Budget Office. The US budget deficit in the first 11 months of this fiscal year is $1.9 trillion.

It's unclear how much revenue the government receives from taxes on overtime pay.

Trump's proposal would be a first for the federal government. Alabama this year became the first state to exclude overtime wages for hourly workers from state taxes as a temporary measure that won legislative support in part to help employers fill jobs in a tight labor market. The exemption is for 18 months only.