As President Donald Trump embarks on a second term, the implications of his policies on American finances are becoming increasingly relevant. Trump’s campaign promises centered around significant tax reductions, lower consumer prices, and an invigorated economy. However, the true test lies in the execution of these promises, which requires collaboration with Congress and careful deliberation
Personal
In a significant move that highlights ongoing issues within the credit reporting industry, the Consumer Financial Protection Bureau (CFPB) has imposed a $15 million fine on Equifax. This decision stems from the agency’s finding that Equifax failed to adequately investigate disputed information on consumer credit reports. With Equifax being one of the three primary credit
In the wake of President-elect Donald Trump’s anticipated second term, significant changes to federal oversight and regulatory frameworks loom on the horizon. Key proposals include potential closures of essential agencies like the Federal Deposit Insurance Corporation (FDIC) and the Consumer Financial Protection Bureau (CFPB), stirring diverse opinions on the implications of these reforms. As we
As the calendar flips to a new year, many Americans eagerly start mapping out their vacation plans for 2025. However, rising travel costs and fluctuating prices pose significant challenges for those wanting to explore new destinations. Recent data highlights how financial considerations are shaping travel trends, with nearly half of all travelers reporting that airfare
On a significant Thursday, the Biden administration revealed its latest initiative aimed at alleviating student debt burdens across the nation. This so-called final round of student loan forgiveness has been earmarked to alleviate over $600 million in liabilities for approximately 8,650 borrowers, a gesture that underscores a commitment to rectifying the longstanding struggles faced by
In a significant policy turnaround, the U.S. Department of Education has revealed that it will commence collection activities for federal student loan borrowers who have defaulted on their debts—a move unseen for many years. The resumption of wage garnishment and the potential for retirement benefit offsets marks a crucial juncture for millions of Americans grappling
In the wake of President-elect Donald Trump’s impending inauguration, the topic of tax legislation under the Republican agenda has resurfaced at the forefront of Congressional discussions. With critical tax breaks poised to lapse after 2025, House Republicans are advocating for swift legislative action to extend the notable provisions encapsulated within the Tax Cuts and Jobs
The Biden administration has announced new federal student loan forgiveness measures that stand to affect over 150,000 borrowers, totaling approximately $4.2 billion in loan discharges. This announcement, occurring just days before President Biden’s term concludes, highlights both the administration’s commitment to addressing student debt as well as the complexities surrounding eligibility and qualifications for the
The growing concern for environmental sustainability is prompting innovations and policy changes across various industries, including the mattress sector. Recently, initiatives in states like California, Connecticut, Oregon, and Rhode Island have led to the implementation of a flat fee on mattress purchases. This fee, which varies between $16 and $23, is designed to fund recycling
As the landscape of governmental fiscal policy continues to evolve, the Internal Revenue Service (IRS) finds itself at a critical juncture, facing significant scrutiny from a Republican-led Congress. Central to this discussion is the National Taxpayer Advocate’s recent annual report, which voiced strong concerns over what it referred to as the “extreme imbalance in funding