Politics

3 Reasons Not to Fear the Biden Tax Hikes
Politics

3 Reasons Not to Fear the Biden Tax Hikes

A lot of people are getting all worked up over President Biden's plan to raise taxes. Here are some reasons to chill.
May 3, 2021
7 Ways Biden Plans to Tax the Rich (And Maybe Some Not-So-Rich People)
Politics

7 Ways Biden Plans to Tax the Rich (And Maybe Some Not-So-Rich People)

How would wealthier Americans pay more in taxes under President Biden's American Families Plan? Let us count the ways.
April 30, 2021
More Monthly Child Credit Payments, Higher Child Care Credit, and Other Tax Breaks in Biden's Latest Plan
Tax Breaks

More Monthly Child Credit Payments, Higher Child Care Credit, and Other Tax Breaks in Biden's Latest Plan

President Biden's American Families Plan extends several popular tax credits that benefit low-income and middle-class families.
April 29, 2021
Biden Hopes to Eliminate Stepped-Up Basis for Millionaires
Tax Breaks

Biden Hopes to Eliminate Stepped-Up Basis for Millionaires

As part of his American Families Plan, President Biden wants to change the way capital assets are taxed when you die.
April 28, 2021
Biden Calls for Capital Gains Tax Hike
Politics

Biden Calls for Capital Gains Tax Hike

As expected, President Biden included a capital gains tax increase for millionaires in his American Families Plan.
April 28, 2021

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Congress Passes $3,000 Child Tax Credit for 2021
Coronavirus and Your Money

Congress Passes $3,000 Child Tax Credit for 2021

The provision would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by th…
March 10, 2021
Vote to Reinsert $15 Minimum Wage in Stimulus Bill Fails
Politics

Vote to Reinsert $15 Minimum Wage in Stimulus Bill Fails

Led by Sen. Bernie Sanders, the effort to get the $15 minimum wage provisions back into President Biden's COVID-Relief package falls short in the Sena…
March 5, 2021
House Approves $3,000 Child Tax Credit for 2021
Coronavirus and Your Money

House Approves $3,000 Child Tax Credit for 2021

The proposal would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by the…
February 27, 2021
$15 Minimum Wage Won't Be in Final Stimulus Bill
Politics

$15 Minimum Wage Won't Be in Final Stimulus Bill

The Senate Parliamentarian says minimum wage provisions aren't allowed in the budget reconciliation bill containing COVID-relief measures.
February 26, 2021
Minimum Wage Update: Republican Senators Offer $10 Minimum Wage Plan
Politics

Minimum Wage Update: Republican Senators Offer $10 Minimum Wage Plan

Senators Mitt Romney and Tom Cotton propose an alternative to the $15 minimum wage plan pushed by Democrats.
February 23, 2021
The Biden Stimulus Plan: Push for a Higher Child Tax Credit Continues
Coronavirus and Your Money

The Biden Stimulus Plan: Push for a Higher Child Tax Credit Continues

The proposal currently on the table would increase the child tax credit to $3,000 or $3,600 per child and have the IRS pay 50% of it in advance.
February 16, 2021
Congress Moves Forward with Minimum Wage Increase
Politics

Congress Moves Forward with Minimum Wage Increase

Despite questionable support, House Democrats still plan to include a $15 minimum wage provision in the budget reconciliation bill.
February 10, 2021
Third Stimulus Check Update: Democrats (Mostly) Reject "Targeting" of $1,400 Stimulus Checks
Coronavirus and Your Money

Third Stimulus Check Update: Democrats (Mostly) Reject "Targeting" of $1,400 Stimulus Checks

House Democrats' latest stimulus check plan applies the same phase-out thresholds used for previous stimulus payments, but families making over $200,0…
February 9, 2021
House Democrats Propose Monthly Payments of Up to $300 Per Child
Coronavirus and Your Money

House Democrats Propose Monthly Payments of Up to $300 Per Child

A bill in Congress would increase the child tax credit and have 50% of it paid in advance by the IRS from July through December.
February 9, 2021
Will Biden's $15 Minimum Wage Proposal Survive?
Politics

Will Biden's $15 Minimum Wage Proposal Survive?

Even President Biden doesn't think his proposed minimum wage increase will reach the finish line.
February 7, 2021
Mitt Romney's Higher Child Tax Credit Comes With a Twist
Coronavirus and Your Money

Mitt Romney's Higher Child Tax Credit Comes With a Twist

The Senator is calling for monthly payments of $250 or $350 per child, but he also wants to eliminate other family friendly tax breaks.
February 4, 2021
Biden Calls for $1,400 Third Stimulus Checks as Part of $1.9 Trillion Relief Package
Coronavirus and Your Money

Biden Calls for $1,400 Third Stimulus Checks as Part of $1.9 Trillion Relief Package

Under President Biden's plan for a third stimulus check, families with older dependents would benefit, but payments could be "targeted" to the most in…
February 4, 2021
President Biden's Tax Plans for the Next Few Years
Politics

President Biden's Tax Plans for the Next Few Years

With control of both the House and Senate in Democratic hands, President Biden will be able to get more of his tax policy proposals through Congress. …
February 3, 2021
Republican Senators' Plan Drops the $3,000 or $3,600 Child Credit
Coronavirus and Your Money

Republican Senators' Plan Drops the $3,000 or $3,600 Child Credit

A plan by 10 moderate GOP Senators omits Biden's proposal for a higher temporary child tax credit.
February 2, 2021
What the Democrats' Agenda Will Mean for Your Pocketbook
Politics

What the Democrats' Agenda Will Mean for Your Pocketbook

With President Joe Biden in the White House and a narrow Democratic majority in the Senate and House of Representatives, Democrats have a clearer path…
January 30, 2021
Shoring Up Social Security
Politics

Shoring Up Social Security

Social Security is headed for a shortfall. But sooner or later, lawmakers will act to preserve your benefits.
January 27, 2021
Biden's Stimulus Plan Includes $3,000 Child Tax Credits
Coronavirus and Your Money

Biden's Stimulus Plan Includes $3,000 Child Tax Credits

The president is calling for a temporary tax credit of $3,000 per child (more for younger children).
January 27, 2021
Biden Proposes $15 Minimum Wage
Politics

Biden Proposes $15 Minimum Wage

As part of his $1.9 trillion economic stimulus package, President Biden proposed an increase in the federal minimum wage.
January 22, 2021
When Could We Get a Third Stimulus Check?
Coronavirus and Your Money

When Could We Get a Third Stimulus Check?

President Biden and others in Congress are pushing for a third-round of stimulus checks, but it might be a while before we get them.
January 20, 2021
12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket
Coronavirus and Your Money

12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket

President Biden's "American Rescue Plan" includes several proposals to assist people financially harmed by the pandemic.
January 20, 2021