Rep. Josh Gottheimer, D-N.J., speaks during a news conference with the Problem Solvers Caucus on Dec. 3, 2020. Stefani Reynolds | Bloomberg | Getty Images As Democrats iron out their $1.75 trillion social and climate spending package, the plan may still include relief for the $10,000 cap on the federal deduction for state and local
Personal finance
Tasos Katopodis | Getty Images News | Getty Images Democrats jettisoned a number of proposals to raise taxes on the wealthy in their $1.75 trillion social and climate spending measure. But those taxes are set to increase even if lawmakers don’t touch them. Starting in 2026, the marginal income-tax rate paid by the highest earners
Carol Sloane, a project manager based in New Jersey, is getting burned out. Several members of her team have left in the past few months, which means an increase in responsibilities and new projects on her plate. It’s resulted in a longer work day. “There’s just not enough hours in the day with some of
HOUSTON, TEXAS – JUNE 09: Employees speak together at a Chipotle Mexican Grill on June 09, 2021 in Houston, Texas. Menu prices at the Chipotle Mexican Grill have risen by roughly 4% to cover the costs of raising its’ minimum wage to $15 an hour for employees. The restaurant industry has been boosting wages in
President Joe Biden delivers remarks on his Build Back Better agenda from the East Room of the White House after meeting with members of the House Democratic Caucus at the U.S. Capitol earlier in the day on Thursday, Oct. 28, 2021 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty Images The latest
kate_sept2004 | E+ | Getty Images When Sherose Badruddin, 38, joined her local Buy Nothing group in Chapel Hill, North Carolina, five years ago, she did it purely to save money. As a single mom, she was on a tight budget. “I joined my Buy Nothing group in 2016 to get free stuff; I
As the founder and director of two entrepreneurship-focused programs at Stevens Institute of Technology, Launchpad and iSTEM, I have overseen the creation of 12 officially incorporated enterprises, with many more on the way. It took about three years to put our first company together, but now we launch a new company every three months. To maintain this efficiency, we need to identify the right students: the rulebreakers,
JGI/Jamie Grill Consumers are likely experiencing sticker shock as new government data shows annual inflation rising at the fastest pace in more than 30 years. So-called headline inflation, including food and energy prices, rose at a 4.4% annual rate in September, the fastest since 1991. With higher prices likely here to stay for now and
Amid widespread job losses and sudden financial turmoil in 2020, many adults found a likely safety net: their parents. A year and a half later, nearly a third of millennials, between the ages of 25 and 40, still receive financial support from their parents, according to a new survey by personal finance site MagnifyMoney. From
Getting your first job offer is exciting — joining the full-time workforce can mean a salary, benefits, and a path to financial independence. But before jumping to accept an offer, it’s important to assess what exactly the company is promising you and negotiate your salary. Most people hate negotiating (who can blame them) and don’t
President Joe Biden on Oct. 29, 2021 in Rome, Italy. Antonio Masiello | Getty Images News | Getty Images A $1.75 trillion social and climate spending framework Democrats unveiled Thursday would reform the health-care market in several ways, expanding access and reducing costs for millions of Americans. Chiefly, the proposal would expand subsidies available for
Francesco Carta fotografo | Moment | Getty Images With inflation picking up faster than it has in more than three decades, investors are grappling with how to respond to the risk. Rising prices mean that a portfolio’s returns don’t mean as much, a reality that can hit retirees especially hard since they depend on their
Rep. Tom Suozzi, D-N.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images President Joe Biden released a framework for his $1.75 trillion spending package Thursday. And while it didn’t propose changes to the $10,000 cap
Photo by Mike Kline (notkalvin) | Moment | Getty Images Proposed legislation unveiled Thursday as part of Democrats’ $1.75 trillion social and climate spending plan would close a tax loophole for cryptocurrency investors. The Build Back Better Act would subject crypto transactions to “wash sale” rules, an anti-abuse measure that currently applies to stocks, bonds
Mayte Torres | Moment | Getty Images President Joe Biden has unveiled the framework for a proposed $1.75 trillion social spending and climate plan. But one key component — paid family and medical leave — has been nixed from the proposal. Biden had called for 12 weeks of paid leave as part of his American
President Joe Biden delivers remarks on his proposed Build Back Better social spending bill in the White House on Oct. 28, 2021 Chip Somodevilla | Getty Images News | Getty Images The White House issued a framework for a $1.75 trillion social and climate spending bill on Thursday — and would finance more than half
lisegagne | E+ | Getty Images The enhanced child tax credit is one of the programs that made the cut as Democrats raced to come to an agreement over a framework for their spending plan. The credit, which was expanded in March by the American Rescue Plan, will be continued through 2022, according to a
Sen. Ron Wyden, D-Ore., speaks during a Senate Finance Committee nomination hearing for Deputy Treasury Secretary nominee Adewale Adeyemo on Feb. 23, 2021. Greg Nash | Pool | Reuters As Democrats wrestle over how to pay for their social spending package, a proposal to tax the wealthiest Americans has emerged. However, if the plan survives
Senior couple in New York City. New York is the second-worst state for retirement. Allison Michael Orenstein | Getty Images By now, you have probably heard that the funds Social Security relies on to pay benefits are running low. How dire you perceive those circumstances to be is largely shaped by one thing: media headlines,
staticnak1983 | E+ | Getty Images Americans will soon be protected from many unexpected medical bills, thanks to a new law that goes into effect Jan. 1. That legislation, called the No Surprises Act, will greatly reduce the number of unanticipated out-of-network bills that many people are hit with during emergency medical treatment. For example,