The Tax Foundation reported, "These changes include a nearly doubled standard deduction, new limitations on itemized deductions, reduced income tax rates, and reforms to several other provisions. In all, these changes simplify the individual income tax by eliminating the need for millions of households to itemize their deductions." … [Read more...] about Fact Check: Did Trump Pass the Largest Tax Cut in History, as He Says?
Corporate tax cut trump
On that front, however, unknowns remain. While Federal Reserve Chair Jerome Powell has emphasized that interest rates could remain at historic lows for the foreseeable future, the fate of Biden's $1.9 trillion stimulus package will rely on his ability to generate some Republican support. In a divided Washington, that will be no easy task. … [Read more...] about Trump is handing Biden a booming stock market
But then came the trends that were negative for stocks: geopolitical worries, including rising tensions with North Korea, and the trade war with China. The latter dominated strategists' view of the US equities in the middle of Trump's term. But it wasn't until the pandemic hit that the longest bull market in history officially came to an end. … [Read more...] about Trump leaves office with a good — but not historically great — stock market record
“This, I hope, will be our greatest legacy: Together, we put the American people back in charge of our country. We restored self-government. We restored the idea that in America no one is forgotten, because everyone matters and everyone has a voice. We fought for the principle that every citizen is entitled to equal dignity, equal treatment, and equal rights because we are all made equal by God. Everyone is entitled to be treated with respect, to have their voice heard, and to have their government listen. You are loyal to your country, and my administration was always loyal to you. … [Read more...] about Full text of Trump’s farewell speech after exit as 45th President of America
Biden is calling for $10,000 of each student's federal student loan debt to be canceled immediately as part of the pandemic relief response. An additional $10,000 of student loan debt will be forgiven for every year of community service performed by individuals for up to five years, under Biden's plan. He also wants to double the maximum amount of Pell grants and increase the number of students who can access to financial aid, while halving federal student loan payments. … [Read more...] about 4 ways Joe Biden plans to fix the economy