Destroyed Tax Returns, Black-Owned Businesses, and the Innovation Act

Tax Policy:

May 10: States Turn to Tax Cuts as Inflation Stays Hot

A combination of flush state budget coffers and rapid inflation has lawmakers across the country looking for ways to ease the pain of rising prices, with nearly three dozen states enacting or considering some form of tax relief, according to the Tax Foundation, a right-leaning think tank.

"The problem is, from any governor's perspective, a lot of the inflation it is adding is nationwide and a lot of the benefits of the tax cuts are to the states."

"It's very difficult for policymakers to see the inflationary pressures that taxpayers are burdened by right now while sitting on significant cash reserves without some desire to return that," said Jared Walczak, vice president of state projects with the Center for State Tax Policy at the Tax Foundation. The Tax Policy Center said its state tax revenue forecasts for the rest of this year and next year were "Alarmingly weak" as states enacted tax cuts and spending plans.

Republicans in the state pushed for the gradual reduction despite calls from Democrats to cut the tax to zero by July.Card 1 of 6. What is inflation? Inflation is a loss of purchasing power over time, meaning your dollar will not go as far tomorrow as it did today.

Alaska is considering a suspension of its motor fuel taxes through mid-2023. Grover Norquist, president of Americans for Tax Reform, a group that promotes lower taxes, has been encouraging governors to eliminate their income taxes and said inflation was changing the calculus of how state officials thought about tax policy.

In Pennsylvania, Attorney General Josh Shapiro, a Democrat who is running for governor, has proposed eliminating the state's 11 percent cellphone tax, expanding a property tax and rent and rebate program, and providing a $250-per-vehicle gas tax refund.

May 9: IRS Has Millions of Delayed Tax Returns, and Is Paying Billions in Interest to Those Waiting

Interest starts accruing in amounts tied to federal short-term interest rates and is adjusted each quarter. The $3.3 billion in interest payments is a tiny fraction of total federal spending, but the amount is equal to about one-quarter of what it costs to run the tax agency.

Interest payments don't come out of the IRS budget. Taxpayers who owe the IRS money are charged interest by the government. The GAO says the IRS isn't doing enough to limit interest payments.

The IRS, in its official response to the report, said refund interest payments can't be analyzed in a vacuum, and that some costs aren't its fault but are required under the law. Under the tax code, interest began accruing 45 days after the mid-April deadline, meaning that the IRS was forced to make payments covering periods before the returns were actually due.

May 9: IRS destroyed 30M paper information returns due to the backlog

The Internal Revenue Service decided to destroy an estimated 30 million paper-filed information return documents in March 2021 because of its inability to process its backlog of paper tax returns, according to a new report. The report, released Monday by the Treasury Inspector General for Tax Administration, noted that the IRS typically uses information return documents for post-processing compliance matches to identify taxpayers who don't accurately report their income.

During the pandemic, millions of paper tax returns and other documents accumulated at IRS facilities and the agency has been working overtime to catch up on the backlog.

"The backlogs of paper tax and information returns to be processed along with the inability to ship paper tax returns and/or retrieve paper tax returns from Federal Records Centers due to the pandemic demonstrate the need for the IRS to develop a Service-wide strategy to further increase e-filing," said the report.

"The IRS uses these documents to conduct post-processing compliance matches to identify taxpayers who do not accurately report their income." The documents help the IRS's Automated Underreporter Program identify taxpayers who are not accurately reporting their income, but IRS officials told TIGTA that once the tax year ends, the information returns, such as Forms 1099-MISC, Miscellaneous Information, can no longer be processed due to system limitations.

Since 2014, the overall percentage of business tax returns e-filed has increased from 41% to 63%. Employment tax returns continue to provide the most significant opportunity for growth in business e-filing, TIGTA noted.

"In 2015, we developed business tax return strategies for the employment tax family of returns, Form 990, Return of Organization Exempt from Income Tax, and Form 2290, Heavy Highway Vehicle Use Tax Return. Each of the strategies provided a framework of opportunities to increase the business return e-file rates."

Economic News/Policy: 

May 10: Under fire over inflation, Biden nods to Fed and attacks Republicans

Biden said the COVID-19 pandemic, coupled with supply chain issues and Russia's war on Ukraine, is to blame for the inflation spike, but that the Fed should, and will do its job to control it. Biden also sharpened his attacks on Republicans six months before the Nov. 8 congressional elections, where Democrats are hoping to retain control of the Senate and House of Representatives.

Biden and top officials said multiple times as prices rose in 2021 that they expected inflation to be temporary, but it has persisted.

Republicans are working to capitalize on the issue in the congressional elections, promoting steps including loosening regulations on oil and gas producers as well as cutting some taxes and government spending.

Biden has sharpened his attack on Republicans in recent days, including dismissing former President Donald Trump's "Make America Great Again" movement as extreme.

Biden aimed a 'Rescue America' proposal from Republican Rick Scott, the U.S. senator from Florida, that includes a federal minimum income tax which the White House says would cost middle-class families $1,500 a year.

Scott has said the plan is solely his own, despite his role as chairman of the National Republican Senatorial Committee, the campaign arm of the Senate Republican caucus.

May 9: Yellen to warn of continued volatility as stocks plummet

Treasury Secretary Janet Yellen is set to tell the Senate Banking Committee Tuesday to be ready for continuing market fluctuations after stocks dropped to fresh 52-week lows on renewed fears of inflation and worsening geopolitical conditions.

The S&P 500 index fell more than 3 percent, to 3,991, and the technology-heavy Nasdaq composite was down almost 4.3 percent, to 11,623, as tech stocks continued to take a beating. Despite Monday's sell-off and recent market volatility, Yellen will testify Tuesday that "The U.S. financial system has continued to function in an orderly manner." Despite a positive market reaction, a New York Fed survey released Monday showed that long-term inflation expectations are on the rise.

"Median inflation expectations decreased in April at the one-year horizon to 6.3% from 6.6% in March," a Fed summary said.

"Surely the Fed must know that to beat inflation of this magnitude, ultimately interest rates must be higher than rising costs - so from the Fed's modest rate hikes, it appears they are betting on a recession or some other economic shock to break the inflation cycle."

"The rapid pace of the economic recovery this year was accompanied by growing pains, evidenced by supply chain problems or rising prices in many markets. Amid the national vaccination campaign, demand for many goods and services grew faster than the supply in the short run. As a result, commodity markets and associated derivatives recorded volatile prices. Inflation has risen and inflation compensation measures rose in financial markets. Lastly, supply chain bottlenecks and materials shortages affected a number of sectors," the report said.

May 8: Economy Week Ahead: U.S. Inflation, China’s Exports in Focus

Policymakers, economists, and investors will be watching for signs that inflation in the U.S. peaked in March and price pressures are slowly starting to ease.

Monday: China’s export boom is expected to ebb in April as the country’s stringent Covid-19 control measures disrupted factory output and the domestic supply chain. Economists surveyed by The Wall Street Journal forecast that the country’s exports rose 3.9% in April from a year earlier, down from a 14.7% increase reported in March. Imports contracted 3% in April, economists said, following a 0.1% decline in March.

Tuesday: Federal Reserve Bank of New York President John Williams delivers a keynote address on U.S. monetary policy at a symposium hosted by the National Association for Business Economics and Deutsche Bundesbank, kicking off a full week for central bank speakers. Markets will be looking for more context and clarity on policy a week after the Fed executed its biggest interest-rate increase since 2000.

Wednesday: China’s consumer-price index likely rebounded in April as food prices rose. Economists expect inflation to rise 2% from a year earlier, higher than a 1.5% increase in March. The producer-price index, a measure of factory-gate inflation, is forecast to have retreated to 7.8% annual growth from 8.3% in March.

U.S. inflation surged to a new four-decade high of 8.5% in March. That might have been the peak. Economists forecast that year-over-year readings for the consumer-price index started to ease in April. While that would offer some assurance for policymakers that inflation is trending in the right direction, prices that consumers pay for many goods and services will continue to increase at a rapid clip—just not quite as rapid as in March.

Thursday: The U.K. economy is facing down rising inflation, slowing economic growth, and higher interest rates, raising concerns of a potential recession. Still, economists expect gross domestic product landed in positive territory during the first quarter of the year as Covid-19 concerns faded and consumers stepped up spending on restaurants, travel, and other services.

May 6: Pay Raises Are Historically High. Inflation Is Still Eclipsing Those Gains.

Wage increases are settling at a historically high rate but aren't keeping up with inflation, which has accelerated this year. The result is many workers are receiving big raises and may still be struggling to pay for more expensive gasoline, groceries, and rent.

Strong wage growth can exacerbate inflationary pressures if employers decide to increase prices to offset raises. Economists said the latest readings could be a sign that such pressures are starting to ease.

May 6: Economy adds better than expected 428K jobs in April, unemployment holds at 3.6 percent

The U.S. economy added 428,000 jobs and the jobless rate held even at 3.6 percent, according to data released Friday by the Labor Department. The April jobs report showed job growth holding strong in April as the unemployment rate remained just 0.1 percentage points above its level in February 2020.

Manufacturing added a strong 55,000 jobs last month, coming to within 56,000 jobs of its pre-pandemic employment level.

Transportation and warehousing also added 52,000 jobs as suppliers race to keep up with consumer demand amid global shortages, backlogs, and delays driven by pandemic shutdowns abroad. The financial service sector gained 35,000 jobs, health care employment rose by 34,000 jobs and retailers gained 29,000 jobs as strong job growth at grocery stores and general merchandise stores washed out a decline in home and garden store employment and personal care store jobs.

The strong April jobs gain comes as President Biden and Democrats face increasing backlash from voters over high inflation. Though the U.S. has gained more than 2 million jobs over the first four months of 2022, consumer prices were up 7.9 percent over the past year in March, according to Labor Department data. Fed Chairman Jerome Powell said Wednesday the overwhelming amount of open, unfilled jobs could shield the economy from a decline in actual employment.

May 6: Biden calls out Republicans to help fight inflation

President Biden on Friday called on Republicans in Congress to help with efforts to combat inflation, following the April jobs report that showed job growth holding strong. "There's more work to do. I encourage Congressional Republicans to join us in our efforts to lower prices for families across the country, by making more in America, strengthening our supply chains, and cutting the energy and prescription drug costs," Biden said in a statement.

"The continued strength of our job market and the savings that families have built up over the last year means that our economy faces the challenges of COVID-19, Putin's unprovoked invasion of Ukraine, and global inflation from a position of strength," he said.

The report came after the Federal Reserve announced a half-point rate hike as part of its effort to cool rising inflation.

Biden has been battered in polls over inflation despite the hot job market, with voters unhappy about rising prices for gas, groceries, and household items. Inflation is seen as a major headwind for Biden's party in this fall's midterm elections. Biden touted the job creation in April and the decline in unemployment since he took office.

May 4: Fed Set For 50-Basis-Point Rate Hike To Fight Inflation, Cool Job Market

Faced with soaring prices and a hot job market with record numbers of job openings, the Fed began raising rates in March, betting that a steady series of hikes will slash inflation, cool down the economy, and get the coronavirus recovery on a more sustainable footing.

The Fed will announce its rate hike decision at 2 p.m. Eastern time, at the conclusion of its two-day policy meeting.

Powell will answer questions on the economic outlook, inflation, the job market, and global uncertainty clouding the path ahead. The Fed is also expected to detail its plans to reduce its nearly $9 trillion balance sheet, which ballooned as part of the Fed's rescue efforts during the pandemic.

Fed leaders have said that the process will move faster than in 2017, the last time the Fed decided to shrink its portfolio.

In March, the Fed raised rates for the first time since slashing them to zero in the spring of 2020, opting for a more modest rate hike of a quarter percentage point.

Republicans also say the Fed waited too long to respond to inflation and hike rates.

Even as prices began to creep up last spring, Fed officials initially dismissed the increases as "Transitory," or temporary, and waited to start raising interest rates until mid-March, wary that any earlier intervention would slow progress in the labor market.

May 4: Fed lifts rates by half-point, starts balance sheet reduction June 1

In a widely expected move, the Fed set its target federal funds rate to a range between 0.75% and 1% in a unanimous decision, and Fed Chair Jerome Powell said policymakers were ready to approve half-percentage-point rate hikes at upcoming policy meetings in June and July. The level of specificity - effectively announcing Fed rate hikes in advance - was unusual, but reflected Powell steering a course between high inflation that requires a strong Fed response, and trying to avoid the sort of overkill that might tip the economy into recession.

In a news conference after the release of the Fed's policy statement, Powell explicitly ruled out raising rates by three-quarters of a percentage point in a coming meeting, a comment that triggered a stock market rally. The Fed also said it would start next month to reduce the roughly $9 trillion stash of assets accumulated during its efforts to fight the economic impact of the coronavirus pandemic as another lever to bring inflation under control.

STABLE PRICES: Powell told reporters that he and his Fed colleagues were determined to restore price stability even if that meant steps that would lead to lower business investment and household spending, and slower economic growth.

"The Committee is highly attentive to inflation risks," the Fed said in language analysts interpreted as a sign of the Fed's commitment to push interest rates as high as needed to get inflation, and the expectations surrounding its future path, back to the 2% target.

BALANCE SHEET REDUCTION: The statement said the Fed's balance sheet, which soared to about $9 trillion as the central bank tried to shelter the economy from the pandemic, would be allowed to decline by $47.5 billion per month in June, July, and August and by up to $95 billion per month starting in September.

U.S. stock markets jumped following the announcement, extending gains after Powell poured cold water on the idea of hiking rates by three-quarters of a percentage point.

May 2: For Black-Owned Businesses, Pandemic Closures Followed By Resurgence

In the early months of the pandemic, Black-owned small businesses closed at twice the rate of other businesses, with 41 percent shutting down, according to April 2020 census data.

Concentrated in the retail, restaurant, and other service industries, Black owned-businesses had a harder time pivoting given pandemic restrictions.

Her business hit its stride later that summer when she focused on the Black boating community, especially younger female charter owners.

After pivoting successfully at the start of the pandemic, some Black-owned businesses now confront the economic challenges of labor shortages, supply chain delays, and inflation.

Tyrone Foster, the owner of a 20-employee landscaping company in Portland, Ore., had expected his residential clientele to dry up during the pandemic recession.

In New York, Tammeca Rochester was about to expand her spin studio, Harlem Cycle, when the pandemic forced her to shut her doors.

Without a relationship with traditional banks, Rochester said, she was at a disadvantage when it came to securing government pandemic aid through the Paycheck Protection Program.

Ukraine Crisis/Russia’s Economic Impact: 

May 9: U.S. to Lift Tariffs on Ukrainian Steel

Ukraine is a fairly minor supplier of U.S. steel, shipping about 218,000 metric tons in 2019, to rank 12th among America's foreign suppliers. The sector is a significant source of economic growth and employment for Ukraine, and steel mills have continued to provide paychecks, food, and shelter for their workers through the war.

The United States imposed a 25 percent tariff on foreign steel and a 10 percent tariff on foreign aluminum three years ago on national security grounds, arguing that a flood of cheap metal had decimated American manufacturing, posing a threat to its military and industrial capacity.

Ukraine is a significant steel producer, ranking 13th globally.

The Commerce Department has noted that the steel industry is uniquely important to Ukraine's economic strength, employing 1 in 13 people there. "For steel mills to continue as an economic lifeline for the people of Ukraine, they must be able to export their steel," Gina M. Raimondo, the commerce secretary, said in the announcement.

"Lifting the U.S. tariff on steel from Ukraine is a small but meaningful way for the U.S. to signal support for Ukraine and to provide stability," Senator Patrick J. Toomey, Republican of Pennsylvania, and Senator Dianne Feinstein, Democrat of California, wrote in a letter.

May 8: US to bar Russia from accounting, and consulting services in new sanctions package

The White House announced Sunday that the United States will bar Russian companies and citizens from using U.S. accounting, marketing, and consulting services as part of a new package of sanctions designed to further punish Moscow for its war in Ukraine.

The package includes new visa restrictions on 2,600 Russian and Belarusian officials as well as sanctions on Russian bank executives, among them 27 Gazprombank executives.

The new U.S. ban on accounting, marketing, and consulting services to Russian individuals mirrors a similar action the United Kingdom took last week. The senior Biden administration official confirmed that the ban does not extend to legal services but noted the administration is constantly reevaluating its sanctions and could expand them. The new export controls will prohibit U.S. exports of industrial products such as engines and bulldozers to Russia.

The official also said that the sanctions on executives at Gazprombank, which serves Russian gas giant Gazprom, represent the first time the U.S. is sanctioning someone associated with that bank and signal that the financial institution is not a "Safe haven" for Russia. The new U.S. sanctions are expected to be followed by complementary actions by the European Union.

Innovation Act: 

May 6: Biden presses Congress on innovation: ‘Pass the damn bill’

President Biden on Friday called on Congress to pass a bipartisan innovation bill while stressing steps his administration is taking to lower inflation and combat rising prices on everything from gas to rent. "Pass the damn bill and send it to me. If we do, it's going to help bring down prices, bring home jobs, and power America's manufacturing comeback. Look, it's also going to help reduce cost and strengthen our economic and national security," Biden said in remarks at United Performance Metals in Hamilton, Ohio.

"It's no wonder the Chinese Communist Party is literally lobbying, paying lobbyists against this bill passing," Biden said. "Every one of you knows that competitive and resilience of American supply chain rests of tens of thousands of small-size manufacturers like the ones I met here today, that's where the supply chain in America is," the president said. "For every one of them, there are hundreds, if not thousands, of smaller suppliers that help these iconic American businesses compete globally and when they do well, the big businesses do even better," he added.

Biden called small firms such as United Performance Metals the "Foundation of America's industrial base." Earlier on Friday, the president called on Republicans to help with efforts to combat inflation, saying the issue is a top priority for him.

Environmental Policy:

May 6: Biden administration proposes new commercial water heater efficiency rules

The Department of Energy on Thursday announced new proposed energy efficiency rules for commercial hot water heaters that would require the use of condensation technology.

Water heaters are a major driver of energy costs and most are a model that has not been meaningfully upgraded in about a century.

The same analysis projects that replacing those units with energy-efficient hot water heaters would cut their greenhouse gas emissions by an estimated 58 percent.

In commercial buildings, the cost of heating with gas-powered equipment comprises nearly 20 percent of commercial buildings' natural gas usage, according to the Energy Information Administration.

"Water heating accounts for a considerable share of energy costs and domestic carbon emissions," Kelly Speakes-Backman, principal deputy assistant secretary for energy efficiency and renewable energy, said in a statement.

"Modernizing commercial water heater technology will slash energy costs for schools, hospitals, and small businesses while removing carbon and methane from our atmosphere."

The proposal, which would take effect in 2026, is the latest move by the Biden administration to improve energy efficiency in appliances and household products, many of them reversals of Trump-era rollbacks.

May 2: Lawmakers consider carbon border tax, environmental reviews at bipartisan climate meeting

A bipartisan group of lawmakers weighed policies relating to a tariff on imports from countries that contribute to climate change and environmental reviews that Republicans have long called too onerous during a meeting on climate and energy issues. NEPA refers to the National Environmental Policy Act, which requires environmental reviews of major projects, including energy infrastructure, but also other construction such as highways.

Sen. Bill Cassidy said he promoted a carbon border adjustment, an import tariff on products from countries that may have less stringent climate regulations.

“This is about national security. Right now, we’re losing jobs, we’re losing industry and China’s economy’s getting stronger,” he said. “A carbon border adjustment reverses that.” In addition to Republicans, the meeting included Democrats who are both more moderate, such as Sen. Mark Kelly, and more progressive, such as Rep. Ro Khanna.

The meeting came a week after a previous meeting that was attended by only one Republican, Sen. Kevin Cramer but organized by Manchin and Sen. Lisa Murkowski.

Last week, Manchin appeared to say that his bipartisan push did not mean climate policies would be removed from reconciliation. "No, no, no. People we're talking to are as concerned about having reliable energy as they are about making sure that we do it better than anyone else in the world, so climate's going to be a big factor," Manchin said when asked if the effort means that climate should come out of reconciliation.

ICYMI: 

May 4: Momentum builds in Senate for major cannabis bill

Senators on both sides of the aisle are throwing support behind a proposal to tuck key marijuana banking legislation into a larger package aimed at boosting U.S. competitiveness, increasing the odds that a significant cannabis bill gets through the upper chamber this year.

Sen. Patty Murray, the No. 3 Senate Democrat, is leading a push to pass the SAFE Banking Act, which would enable cannabis firms to use banking services, as part of a sweeping package lawmakers are hashing out in both chambers that are intended to bolster the country's supply chains and manufacturing.

Senate Majority Leader Charles Schumer, who previously blocked the SAFE Banking Act over concerns that its passage would hurt the prospects of wider reforms, hopes to unveil the text of his comprehensive bill to legalize marijuana and expunge federal pot convictions, the Cannabis Administration and Opportunity Act, around the same time.

"Clearly it's not aimed for passage this Congress if it's coming out in August," said Steven Hawkins, president of the U.S. Cannabis Council, an industry group, referring to Schumer's bill.

Advocates have sought to convince Schumer and other wary Democrats that the banking bill's passage would boost momentum for further cannabis reforms, not weaken it.

The American Bankers Association and bankers groups from all 50 states urged Senate leaders to include the banking bill in the conference report last week, stating that the "Urgently needed" legislation would address the recent wave of robberies and improve transparency and tax collection among cannabis businesses.

"The inability of the state-licensed cannabis industry to access safe and regulated financial services is a pressing concern for so many of our nation's communities and the banks that serve them," the banking groups wrote in a letter to top senators.

May 3: Texas stares down the barrel of summer grid failure

The largest fire in the United States is blazing out of control through the pine forests of northern New Mexico, leading to evacuations, 172 burnt houses, and the destruction of 228 square miles, The Associated Press reported on Tuesday.

The still-spreading combination of the Calf Canyon and Hermits Peak Fires - propelled by 50-mile-per-hour winds and months of drought conditions that dried trees to tinder - is a grim warning that the West is facing a long, hard fire season.

Big concerns: "We are very concerned about very significant fire growth today," National Weather Service fire meteorologist David Craft told the AP on Tuesday.

Running for cover: As the fire burned northwest of Las Vegas, N.M., in San Miguel County, some chose to flee, stripping grocery shelves bare as they went, the Santa Fe New Mexican reported.

SIGNS OF A BIG FIRE SEASON ARE STILL TO COME. The Calf Canyon and Hermit's Peak fires came on the heels of federal National Interagency Fire Center estimates for July and August, which on Sunday predicted elevated fire danger across the West.

With dry soil, diminishing snowpack, and fire risk creeping north along the Wasatch Range east of Salt Lake City, state officials are urging citizens to "Use good fire sense, "Salt Lake City's KSL reported.

The state credits its Fire Sense educational program with cutting the number of human-caused fires by nearly a thousand between 2020 and 2021, according to KSL. And then there's the Pacific Northwest - which is bracing for impact.

For Fun: 

May 6: Goodwill Sold a Bust for $34.99. It’s an Ancient Roman Relic.

Laura Young was browsing through a Goodwill store in Austin, Texas, in 2018 when she found a bust for sale. After taking the bust home, strapped in a seatbelt in the front seat of her car, she contacted two auction houses, Bonhams and Sotheby's, both of which confirmed that her hunch was right: The bust was from ancient Rome. Ms. Young was on vacation, celebrating her 40th birthday when she got the email from Bonhams.

At some point before 1833, the bust had been acquired by Ludwig I, a Bavarian king, who displayed it in the courtyard of the Pompejanum, his replica of a Roman villa in Pompeii, in the Bavarian town of Aschaffenburg, according to Ms. Young's lawyer, Leila A. Amineddoleh. Ms. Young said Goodwill was also unable to provide answers about the bust's origins.

The Pompejanum was heavily damaged by Allied bombing in 1944 and 1945, and although some of its objects survived, others disappeared, Ms. Amineddoleh said.

The looting of art by the Nazis has gained widespread attention. But because the bust ended up in Texas, it is likely that an American service member either stole it or traded for it after the war, Ms. Amineddoleh said.

That meant Ms. Young was not the rightful owner because Germany had never sold the piece or abandoned the title to it, Ms. Amineddoleh said. Ms. Young said Goodwill was also unable to provide answers about the bust’s origins.

“Immediately, I was like, ‘OK, I cannot keep him and I also cannot sell him,’” Ms. Young said. “It was extremely bittersweet, to say the least. But I only have control over what I can control, and art theft, looting during a war, is a war crime. I can’t be a party to it. So Ms. Young struck an agreement to have the bust shipped back to Bavaria.

"We are very pleased that a piece of Bavarian history that we thought was lost has reappeared and will soon be able to return to its rightful location," Bernd Schreiber, president of the Bavarian Administration of State-Owned Palaces, Gardens and Lakes, said in a statement released by the San Antonio Museum of Art. The bust is believed to portray either a son of Pompey the Great, who was defeated in battle by Julius Caesar or Nero Claudius Drusus Germanicus, a Roman commander whose forces once occupied German territory.

The San Antonio Museum of Art will display the bust until May 2023, which was important to Ms. Young.