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Texas refinery. It's the first major expansion of U.S. fuel making capacity in at least a decade, and it may be the last, with U.S. gasoline demand, having already peaked. From the Bloomberg newsroom, I'm Laurie kofsky, on WTO. Overseas this morning to Asian stocks down across the board this hour, the nikkei is down 219 points, the hang seng down 408 in the Shanghai is down almost 40 points. Good morning, welcome in three 12 on WTO. These WTO news. I reported rise in chronic absenteeism, made its challenging for schools to help students catch up recently. That is among the findings from the newest state of D.C. schools report out this week, which eventually looked at the 2021, 2022 school year, almost half the students in D.C. missed 10% or more of that school year. According to this report, it also says that teachers absences due to COVID in a substitute teacher shortage made staffing difficult for them. As students return to school in person, the report says the stress of the transition impacted their mental health as well. Now to the latest plans this morning to spend your tax dollars locally and two Maryland counties. We started Montgomery county this hour where there's a property tax hike on the table. The county exec says his $6.8 billion budget will be worth it. In announcing his budget proposal Montgomery county executive Mark L rich said, a 10% property tax increase would go straight to education. Of his $6.8 billion budget 3.2 billion goes to the schools. He cited the recent state test scores as showing why more school funding is needed. Early 31% of them CPS students scored proficient in math, only 53% in proficient in English. L rich invited school system CEO monifa mcknight to speak. Now was not the time to gamble. It's not. El rich's budget proposal is subject to approval by the 11 member county council, the first hearings on the plan begin next month, Kate Ryan. WTO news. The Montgomery county Chamber of Commerce calls the proposal to raise the county's property text, tone deaf, quote unquote, citing the county's high cost of living and saying it opposes the increase. Over in prince George's county now there's a different plan in place to make more room in the budget because right now leaders there say there isn't a lot of wiggle room with what they've got. It's a $5.4 billion budget being proposed by prince George's county executive Angela also Brooks. Most of it was accounted for right off the bat. 82% of our entire budget goes just to public safety and to our school system. That leaves 18% of the budget for everything else. I've heard often that the way

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