Parents and children participate in a demonstration organized by the ParentsTogether Foundation in support of the child tax credit portion of the Build Back Better bill outside of the U.S. Capitol on Dec. 13, 2021. Sarah Silbiger | Bloomberg | Getty Images Sen. Bernie Sanders, I-Vt., took to the Senate floor Wednesday to decry the
Personal finance
Sen. Tommy Tuberville, R-Ala., is seen in the U.S. Capitol during a Senate vote on Feb. 10, 2022. Tom Williams | Cq-roll Call, Inc. | Getty Images The federal government has no business interfering with the ability of American workers to invest their 401(k) plan savings as they see fit. Sadly, that’s not the Biden
New York State Attorney General Letitia James speaks during a “Defend Democracy” rally, taking place on the first anniversary of the January 6, 2021 attack on the U.S. Capitol, in Brooklyn, New York, U.S., January 6, 2022. Brendan McDermid | Reuters Eight attorneys general, including those of New York, Illinois and Washington state, wrote a
Guido Mieth | DigitalVision | Getty Images Catch-up contributions for retirement savers could get more generous for certain savers, if legislation proposed in Congress becomes law. But the benefits of the increased limits will likely be concentrated among higher-income plan participants. Today, preretirees ages 50 and up can put away an extra $6,500 toward retirement
JohnnyGreig | E+ | Getty Images When stocks gyrate, stock investors invariably hear this advice: “Stay the course.” In other words, don’t sell in a gut reaction; stick to your financial plan. This counsel generally makes sense for long-term investors. Stocks are likely to recoup losses by the time owners need the money many years
Chairman Sherrod Brown (D-OH) questions Treasury Secretary Janet Yellen and Federal Reserve Chairman Powell during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, September 28, 2021. Kevin Dietsch | Pool | Reuters A bill to change Supplemental Security Income benefits for
Peter Dazeley | The Image Bank | Getty Images The pandemic-era trend known as the “Great Resignation” is still red-hot, as workers enjoy the perks of record-high demand for their labor. However, economic headwinds mean those benefits may not last much longer, according to economists. A record 4.5 million workers quit their jobs in March,
Camille Tokerud Photography Inc. | Stone | Getty Images A federal benefits program for blind, disabled and elderly individuals could get a long-overdue update if a proposal in Washington is approved. Two Ohio senators — Democrat Sen. Sherrod Brown and Republican Sen. Rob Portman — have teamed up to introduce a bill to update the
President Joe Biden returns to the White House from a day trip to Minneapolis on May 1, 2022. Stefani Reynolds | AFP | Getty Images President Joe Biden recently said that he’d be making his decision around student loan forgiveness within weeks. That means borrowers uncertain of the future of their debt, who’ve been hearing
Choreograph | iStock | Getty Images For Medicare beneficiaries wondering whether their Part B premiums could be reduced, the waiting continues. More than three months after Health and Human Services Secretary Xavier Becerra ordered a reassessment of this year’s $170.10 standard monthly premium — a bigger-than-expected jump from $148.50 in 2021 — it remains uncertain
Golibtolibov | Istock | Getty Images Taxing the wealthy is a big topic in Washington these days. President Joe Biden recently proposed in his 2023 annual budget a so-called billionaire minimum income tax that would increase levies on the country’s wealthiest households. Under the plan, people with a net worth of $100 million or more
Luis Alvarez | Digitalvision | Getty Images The surge in worker pay that was a key feature of the 2021 labor market showed signs of fading early this year, as businesses’ demand for workers has moderated a bit from last year’s record levels. Wages and salaries in the private sector grew by 5% in the