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☆ Young Americans' wealth grew by nearly 50% over the last 4 years—it's not just from buying homes
▼ + stars: | 2024-04-30 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

The inflation-adjusted average net worth of households headed by someone age 40 or under was around $174,000 at the end of 2019. That number grew by $85,000 to hit $259,000 by the end of 2023, CAP found. But compared with where it was before the pandemic, young Americans' wealth appears to be on the come up, per CAP's analysis. Struggles to buy homes, pay off student debt and save for retirement have plagued many millennials' and other young adults' financial outlooks since they entered adulthood. But now, as the bulk of the millennial generation enters their mid-30s, they seem to be catching up.

Persons: Zers, — Organizations: Center, Federal Reserve, CAP

☆ Millennial wealth is booming. It turns out avocado toast didn't tank them after all.
▼ + stars: | 2024-04-24 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

That rate of rapid wealth growth has never happened before in the data series' history, per the analysis, and it comes after wealth growth remained relatively stagnant for young Americans pre-pandemic. This data, as the authors of the CAP analysis note, suggests that wealth gains weren't just reserved for the top-earning millennials since both median and average wealth grew. "This suggests that the strong wealth growth for younger Americans is broad-based and not the result of strong growth of a handful of wealthy younger households," the authors write. As that report notes, financial assets were a major component of younger Americans' wealth growing. "We need to keep this robust labor market going and Congress needs to set its sights on younger Americans' greatest affordability challenge: housing," Duke said.

Persons: —, Gen X, Brendan Duke, Christian Weller, X, millennials, Duke, BI's Noah Sheidlower Organizations: Service, Center for American Progress, Federal, Business, Boomers, Federal Reserve's Survey, Consumer Finances, millennials, Liberty Street, Federal Reserve Bank of New Locations: millennials, Federal Reserve Bank of New York

☆ Democratic Coalition Sends Biden a Demand on Military Aid to Israel
▼ + stars: | 2024-04-12 | by ( Reid J. Epstein | ) www.nytimes.com time to read: +1 min

A coalition of a dozen liberal organizations and labor unions sent a letter to the White House on Thursday night demanding that President Biden end military aid to Israel until its government lifts restrictions on humanitarian aid to Gaza, the latest indicator of shifting mainstream Democratic opinion on the war. The group includes not only progressive groups like MoveOn and the Working Families Party, but also the mainstream Democratic Center for American Progress and NextGen America, the organization founded and funded by Tom Steyer, a billionaire who ran for president in the 2020 Democratic primary. Other signatories to the letter include the Service Employees International Union and the National Education Association, labor unions that make up key elements of the Democratic Party. The letter calls on Mr. Biden to enforce the Foreign Assistance Act, which bars military support from going to any nation that restricts the delivery of humanitarian aid. law is unequivocal: Countries that obstruct U.S. humanitarian aid cannot receive U.S. military aid under the Foreign Assistance Act or the Arms Export Control Act.”

Persons: Biden, Tom Steyer, Netanyahu, Benjamin Netanyahu, ” Organizations: White, Working Families Party, Democratic Center for American Progress, NextGen, Democratic, Service Employees International Union, National Education Association, Democratic Party, Assistance, Foreign, Control Locations: Israel, Gaza, NextGen America, U.S, “

☆ Gen Z is full of financial angst despite inheriting a golden labor market
▼ + stars: | 2024-04-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Compared with Millennials, especially, who entered the workforce in the Dark Ages known as the Great Recession, the Gen Z experience is a dream. But Gen Z isn’t having an easy go of it either. Gen Z hasn’t had a chance to get a foot in the door. “Many Gen Zers also indicated their first step in managing behavioral-health challenges was going to TikTok or Reddit for advice,” the report said. It’s hard to blame them: Many in Gen Z had their formative school years blown up by a global pandemic.

Persons: CNN Business ’, Z, Zers —, ” Brendan Duke, they’re, haven’t, ” Duke, “, Z hasn’t, Duke, ‘, ”, Gen Zers, Zers, Gen Z, that’s, that’ll, We’re, X, Charles Schwab Organizations: CNN Business, New York CNN, Boomers, Center for American, Federal Reserve, McKinsey, Bloomberg Locations: New York

☆ You need to earn $100,000 a year to buy a typical home in these 23 U.S. places
▼ + stars: | 2024-04-02 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

Most people don't earn six figures, but it's become the new benchmark for whether or not you can afford a typical U.S. home. Americans need to earn an annual income of $110,871 to buy a median-priced home of $402,343 — a 46% increase since January 2020, according to a new Bankrate analysis of Redfin sales data. For context, households currently earn a median income of $74,580, according to the most recent U.S. Census Bureau data available. As a result, the number of places where you need to earn $100,000 or more to afford a median-priced home has climbed from seven to 23 since January 2020. In Montana, the income needed to buy a median-priced home increased 77% since 2020 — the largest jump of all states.

Persons: it's, Bankrate, homeownership Organizations: Census, of Columbia, Washington, Rhode, Center, of Labor Statistics, CNBC Locations: U.S, California, Hawaii, Massachusetts, Colorado, Jersey, York, Utah, Montana, Hampshire, Oregon, Connecticut, Florida, Vermont, Idaho, Nevada, Arizona, Maryland, Virginia, Maine, Texas, Hawaii , Massachusetts, New York, Utah , Montana and Idaho, Midwest, Mississippi , Ohio , Arkansas , Indiana , Kentucky, Iowa, Oklahoma

☆ Trump's proposed tariff would cost the average American household an extra $1,500 a year, left-leaning think tank says
▼ + stars: | 2024-03-29 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Trump's proposed import tariff would cost an extra $1,500 annually for Americans, according to a left-leaning think tank. Trump has championed his tax plan as favoring US interests over China, but the think tank argues he misunderstands tariffs. AdvertisementTrump's proposed import tariff would tack on an extra $1,500 per year for Americans, says a left-leaning Washington think tank. AdvertisementThe think tank estimated Americans will face a whopping $3.2 trillion influx of foreign goods. With a 10% tariff, that'd be an extra $300 billion in taxes on goods, roughly translating into $1,700 per household in the tariff's debut year.

Persons: Trump's, Trump, —, Brendan Duke, Ryan Mulholland Organizations: American Progress, Service, White, Republican Locations: China, Washington

☆ Union households tend to have over $100,000 more in wealth than nonunion families, Federal Reserve data shows
▼ + stars: | 2024-03-21 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

The Center for American Progress, a left-leaning think tank, looked at just how much better union workers are faring. By analyzing the Federal Reserve's Survey of Consumer Finances, CAP found that in 2022, union households held $338,482 in median wealth. Black, nonunion households have a median household wealth of $61,500; meanwhile, Black union households hold around $164,6000 in median household wealth. Union membership rates have declined for decades, reaching a record low of 10% in 2023. The researcher VanHeuvelen previously told BI that the decline in union membership would be like if the wage premium for going to college disappeared.

Persons: it's, Zachary Parolin, Tom VanHeuvelen, VanHeuvelen Organizations: Service, American Progress, Reserve's Survey, Consumer Finances, CAP, Business, Bureau of Labor Statistics, Labor Statistics, of Labor Statistics, Research, Bocconi University, University of Minnesota Twin Cities, Workers, —, United Auto Workers, UPS Teamsters, SAG Locations: United States

☆ Solar CEOs bet that Red State investments will protect them from threat of Trump repealing IRA
▼ + stars: | 2024-03-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +9 min

First Solar , the largest panel manufacturer in the U.S., expects to receive about $1 billion in tax credits this year for making its products domestically. Eight of the top 10 congressional districts in terms of solar investments are represented by Republicans, according to the think tank. Enphase CEO Badri Kothandaraman is blunt that repealing the IRA tax provisions would hurt domestic manufacturing. Enphase makes inverters, a crucial component that converts solar energy harvested by panels into electricity that's usable in homes and in the power grid. Republicans appear less opposed to the wind and solar tax credits, Marcus said.

Persons: Biden, Trump's, Mark Widmar, Widmar, we've, who's, Badri Kothandaraman, Kothandaraman, Trump, Enphase, Tobin Marcus, Marcus, Wolfe, Dan Shugar, Shugar, John Berger, Berger Organizations: Republican, Financial Times, Republicans, House, First, CNBC, GOP, Center, American Progress, Wolfe Research, Senate, Trump, Investors, Detroit autoworkers, Department of Energy Locations: U.S, Arizona, Ohio, Louisiana, Alabama, Puerto Rico, Columbia , South Carolina, Arlington , Texas, Houston

☆ The immigration crisis may bankrupt cities such as New York, Denver and Chicago as federal funds fall short of needs
▼ + stars: | 2024-02-24 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

The recent surge of migrants has put major cities across the U.S. under significant financial pressure. But experts say more federal assistance and funding are necessary to ensure that cities can survive the ongoing crisis. For instance, the $145 million allocated to New York City is less than 10% of what the city spent on migrant services in fiscal 2023, according to the Migration Policy Institute, a nonpartisan think tank. "These are complicated issues to manage, so the city, the state and the federal government, frankly, were not prepared for it." Watch the video above to see just how much financial pressure cities across the U.S. are facing due to the ongoing migrant crisis.

Persons: Biden, Simon Hankinson, Debu Gandhi, Muzaffar Chishti Organizations: The Heritage Foundation, The Center, American Progress, FEMA, Migration Policy Institute Locations: New York, Denver, Chicago, Washington ,, New York City, U.S

☆ What the border security bill would and wouldn’t do
▼ + stars: | 2024-02-06 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +12 min

The border bill also comes with a big budget – including large amounts of funding for enforcement. New emergency border restrictionsWhat’s proposed: Once illegal border crossings reach a certain threshold, the Department of Homeland Security would be required to exercise a new emergency authority that bars migrants, except unaccompanied minors, from crossing the border between ports of entry. Those who lose their asylum cases in immigration court can appeal to judges on the Board of Immigration Appeals. Video Ad Feedback GOP lawmaker on border bill: This is all gamesmanship 03:56 - Source: CNNGiven the growing chorus of criticism on both sides of the aisle weighing in just a day after its release, this latest border bill may very well be as “dead on arrival” as some lawmakers have claimed. But the bill has picked up some high-profile support from the National Border Patrol Council, the union that represents Border Patrol agents and has endorsed Trump in the past.

Persons: they’ve, That’s, Joe Biden, Donald Trump, —, ”, Muzaffar Chishti, Greg Chen, Chishti, “, Guillermo Arias, What’s, ” Amy Fischer, John Moore, it’s, Biden, Obama, Andrea Flores, ” Ben Johnson, CNN’s Priscilla Alvarez, Lauren Fox, Morgan Rimmer, Ted Barrett, Clare Foran Organizations: CNN, White, Republican, Institute, American Immigration Lawyers Association, DHS, Department of Homeland Security, Federation for American Immigration Reform, Border Patrol, Getty, Citizenship, Immigration Services, Immigration, Amnesty International, Congress, National Border Patrol Council, Trump, American Locations: Ukraine, Israel, harm’s, Mexico, Jacumba , California, U.S, Rio, El Paso , Texas, Kabul, United States, DACA

☆ $78 billion tax package: Here's what's in the bipartisan deal
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email$78 billion tax package: Here's what's in the bipartisan dealJean Ross, Center for American progress senior fellow, Rohit Kumar, PwC Washington National Tax Services co-leader, joins 'Squawk Box' to discuss the $78 billion tax package, what's in the new bill, and more.

Persons: Jean Ross, Rohit Kumar, PwC Organizations: Center, PwC Washington National Tax Services Locations: PwC Washington

☆ What broke the American Dream for Millennials
▼ + stars: | 2024-01-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +11 min

For their nine-month-old son, Miles, Rachael and Garrett agree: They’re not going to push him to pursue the same path. “This is the American Dream,” Rachael says. The nest egg mythA common refrain Millennials heard from their Boomer parents is that buying is always better than renting. Luke Sharrett/Bloomberg/Getty ImagesCentral to the pitch of the American Dream is a house. “I don’t think anyone could have foreseen house prices going up 20% or 30% in a three-year period,” Garrett says.

Persons: Pennsylvania CNN — Rachael Gambino, Garrett Mazzeo, —, Miles, Rachael, Garrett, They’re, ’ ”, ” Rachael, Kristen Gambino, Rachael Gambino, Deborah Brunswick, John General, America it’s, Brendan Duke, Baby, Millennials, gumming, Obama, ”, Louis, Boomer, Luke Sharrett, they’d, ” Garrett, they’re, homeownership, We’re, “ we’re, That’s, Duke, ” Duke, “, Camerota, Matthew Friedman Organizations: Pennsylvania CNN, “, CNN, Center for American Progress, of Education, America, Federal Reserve Bank of St, Bloomberg, Getty, Federal Reserve Bank of Philadelphia, Workers, Center, American Progress ’ Locations: Lansdale, Pennsylvania, America, United States, Attom, financials

☆ Student-loan borrowers are taking on more debt, and it's not all tuition — blame skyrocketing housing costs
▼ + stars: | 2024-01-07 | by ( Eliza Relman | Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

AdvertisementRigel Robinson, chair of the Land Use, Housing, and Economic Development Committee on the Berkeley City Council, said "the student housing crisis has become the defining characteristic of the student experience at UC Berkeley." Experts said the housing crisis is making the already high student-debt load in the country worse. But with housing costs spiking, living expenses are a big part of the story for many. Darrell Owens, a policy analyst at California YIMBY — an advocacy organization working to end California's housing crisis — noted that the student housing crisis exacerbates the broader housing crisis. "Then what ends up happening is that they spike housing costs for other people."

Persons: —, Katie Ibsen, Ibsen, Berkeley, Gavin Newsom, Rigel Robinson, Robert Kelchen, Kelchen, Marcella Bombardieri, Bombardieri, They're, Pell, I've, Darrell Owens, Robinson, it's Organizations: Service, University of California, Business, Gov, Economic, Berkeley City Council, UC Berkeley, Department of Educational, University of Tennessee, Knoxville ., Center for American Progress, Kootenai, Parsons School of Design, Hope, Temple University, Pell Grants Locations: Berkeley, COVID, Davis , California, Knoxville, Knoxville . College, California, Montana, Kootenai College, New York City, Jersey City

WASHINGTON (AP) — Federal regulators are investigating ExxonMobil's $60 billion deal to acquire a Texas oil company in what would be one the largest mergers in the energy industry in two decades, according to securities filings. The Federal Trade Commission, which enforces federal antitrust law, has asked for additional information from the companies about Exxon’s proposed acquisition of Pioneer Natural Resources. Exxon reported $9.1 billion in profits in the quarter that ended Sept. 30, while Chevron reported $6.5 billion in profits. Exxon has said the proposed deal with Texas-based Pioneer Resources would enhance U.S. energy security and benefit the American economy and consumers. Chevron said its proposed deal with New York-based Hess would strengthen long-term performance while “delivering higher returns and lower carbon” dioxide emissions that contribute to global warming.

Persons: Chuck Schumer, Schumer, Hess, Exxon, Alex Witt, Witt Organizations: WASHINGTON, —, Federal Trade Commission, Natural Resources, FTC, Exxon, Pioneer, Hess Corporation, Chevron, Justice Department, Resources, Climate, Center for American Progress Action Fund, League of Conservation Voters, Sierra Club Locations: Texas, Chevron, Ukraine, New York

☆ How 3 big Supreme Court cases could derail the government
▼ + stars: | 2023-11-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

On Wednesday, the Supreme Court is hearing a case challenging the authority of federal agencies. AdvertisementThree major Supreme Court cases could upend the way the government works — and put Americans' federal benefits and consumer protections at risk. These are the other big cases to follow on the Supreme Court's docket. AdvertisementChanging how the federal government is allowed to make regulationsAnother Supreme Court challenge has big implications for the way all federal agencies function. AdvertisementThe Supreme Court will likely issue final decisions on these cases by June.

Persons: —, George Jarkesy, Jarkesy, Sheila Bair, Loper, Raimondo Organizations: Service, SEC, Securities and Exchange Commission, Center, American Progress, Social Security, Social Security Administration, Financial, Community Financial Services Association of America Ltd, Federal, Fifth Circuit, Federal Deposit Insurance, Loper Bright Enterprises, National Marine Fisheries Locations: Chevron

☆ Chevron takeover of Hess resurrects multi-billion dollar tax shield
▼ + stars: | 2023-11-14 | by ( Tim Mclaughlin | ) www.reuters.com time to read: +5 min

“The tax benefits were definitely factored into how Chevron valued Hess,” said Donald Williamson, an accounting professor at American University’s Kogod School of Business. “When you combine the companies, we have the greater U.S. income, and we can use those net operating losses,” he said. The bottom line effect, when that loss limit is multiplied by the U.S. federal tax rate of 21%, is extra cash flow that could top $400 million a year. “There’s a strong and appropriate case to increase the corporate income tax rate.”Last year, corporate tax revenue totaled a record $425 billion, according to the Congressional Budget Office. Over the past decade, Chevron's current U.S. federal tax expense has averaged $40 million a year.

Persons: Dado Ruvic, Hess, ”, Donald Williamson, “, Pierre Breber, Williamson, Jim Seida, Jean Ross, Exxon, Darren Woods, ” Woods, Tim McLaughlin, Marguerita Choy Organizations: Chevron, Hess, REUTERS, Kogod School of Business, Internal Revenue Service, U.S, University of Notre Dame, Center for American Progress, Congressional, Graphics, Exxon Mobil, Pioneer Resources, Exxon, Reuters, Boston College, Thomson Locations: U.S, Chevron

☆ Student-loan borrowers struggling with repayment need more help than what the Education Department has offered — and they might not get it
▼ + stars: | 2023-11-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The Education Department is strengthening oversight by withholding pay from one servicer, MOHELA. AdvertisementAdvertisementPresident Joe Biden's Education Department made one thing very clear this past week: Student-loan companies cannot get away with bad behavior. It's unclear at this point how withholding pay from a servicer would impact its operations, and whether the impact would trickle down to borrowers. AdvertisementAdvertisementWith Republicans holding a majority in the House, it's unlikely Federal Student Aid will see boosted funding in the upcoming year. Buchanan noted that he's still determining how exactly withholding pay would impact operations and added that he's "not making any excuses for the mistakes here."

Persons: —, Joe Biden's, MOHELA, Scott Buchanan, Jared Bass, Bass, servicers, Buchanan, he's, It's, it'll Organizations: Education Department, Service, Joe Biden's Education Department, Department, Federal Student Aid, Student Loan, —, Education, Center, American Progress, Federal, Aid

☆ Joe Biden: Democrats dismiss worries about president’s reelection bid as Dean Phillips launches primary challenge
▼ + stars: | 2023-10-28 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +12 min

CNN —President Joe Biden is just as low in the White House’s internal polls as in any of the public ones. But while Biden advisers are dismissive of Rep. Dean Phillips’ primary challenge launched this week, they are also annoyed about it. Still, they remain confident that Biden is Democrats’ best option in 2024. Boyle told CNN this week that between the war in Israel and Gaza and the chaos of House Republicans electing their new speaker, he had not had “one conversation with anyone” about Phillips. Asked if he was worried about Phillips being a factor even back home in their state’s primary, Walz laughed.

Persons: Joe Biden, Mike Donilon —, —, Donilon, Biden, Dean Phillips, Donald Trump, Kamala Harris, Tim Walz, Phillips, Walz, “, ‘, ’, Ron, Brendan Boyle, ”, ” Boyle, daydreaming, Harris, Emanuel Cleaver, ” “ Joe Biden, ” Ben Wikler, ’ Phillips, Gretchen Whitmer, Louis, “ We’ve, ” Biden, Trump –, Trump, ” Harris, St . Louis, Boyle, Democratic Sen, Dianne Feinstein’s, Gavin Newsom, California politicos, Nancy Pelosi, Jamie Raskin, Raskin, Biden’s Organizations: CNN, ’, GOP, Democratic, Center, American, Florida Gov, president’s, MAGA Republicans, Democrat, Granite, Democrats ’, Biden, Democratic National Committee, Trump, “, New Hampshire Democrats, Republicans, Los Angeles Times, California Gov, Senate, Maryland, House Democratic Locations: Washington, Florida, Pennsylvania, Philadelphia, St, Louis, Wisconsin, Concord , New Hampshire, Michigan, Israel, St ., Gaza, Minnesota, California

☆ University early decision applications mostly benefit rich kids
▼ + stars: | 2023-10-22 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +6 min

For them, applying early decision is a risk. According to the latest data from the University of Pennsylvania, the acceptance rate for students applying early decision was 16% for the 2022-23 academic year. “Typically, we admit about half of the incoming class through the early decision admissions plan,” said a University of Pennsylvania spokesperson. That same Duke survey found that nearly half of early decision applicants identified as White. He said he considered applying early decision to Cornell University, but ultimately decided against it.

Persons: ”, “ It’s, Marcella Bombardieri, it’s, Rachel Rubin, “, Duke, Rubin, Sai Mandhan, Mandhan, It’s, he’s, ‘, Cornell … Organizations: CNN, Harvard, Ivy League, University of Pennsylvania, Center for American Progress, Duke University, Students, Georgetown University’s, Court, Yale, Notre Dame, Stanford, Yale University, Cornell University, Cornell, University of Maryland Locations: Maryland

Violent crime dropped 1.7%, and that included a 6.1% decrease in murder and non-negligent manslaughter. Political Cartoons View All 1211 Images“By and large what we’re seeing is simply a return to something approaching normal after the big changes associated with the pandemic,” Rosenfeld said. Last year's FBI report arrived with major caveats since nearly two-fifths of all policing agencies failed to participate, including big cities like New York, Los Angeles and Miami. The overhaul will eventually make crime data more modern and detailed, federal officials said, but the switchover can be complicated for police departments. Violent crime overall remains far lower than the historic highs of the 1990s.

Persons: Richard Rosenfeld, Louis, ” Rosenfeld, Rachael Eisenberg, Rosenfeld Organizations: LOUIS, FBI, U.S, University of Missouri, Washington, D.C, American, Criminal Locations: New York, Los Angeles, Miami

☆ As the U.S. birth rate falls, immigration reform may be 'the answer hiding in plain sight,' analyst says
▼ + stars: | 2023-10-12 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

But immigration policy reform could be one solution, some experts say. In 2022, foreign-born U.S. residents — including legally admitted immigrants, refugees, temporary residents and undocumented immigrants — represented about 18% of U.S. workers, up from 17.4% in 2021, according to the U.S. Bureau of Labor Statistics. A pathway to citizenship for undocumented immigrants would offer eligible workers better education and employment opportunities while boosting federal tax revenue, Vimo said. Reform could offer 'huge benefits' to tax baseDepending on the scope of changes, immigration policy reform could provide "huge benefits" to the U.S. tax base and economy, said Silva Mathema, director for immigration policy at the Center for American Progress. In a 2021 report, the organization modeled the economic impact of four scenarios involving a pathway to legalization and citizenship for undocumented immigrants.

Persons: Nicholas Kamm, Lea, Jackie Vimo, —, Vimo, Silva Mathema, Steven Camarota Organizations: AFP, Getty, Social Security, Centers for Disease Control, National Immigration Law Center, U.S . Bureau of Labor Statistics, Center for American, American Immigration, Immigrants, National Immigration Law, Center for Immigration Studies Locations: U.S

☆ Free daycare for teachers' kids could help fix the crisis for all parents
▼ + stars: | 2023-10-12 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

The US is in a childcare crisis due to cost and lack of available teachers. The state now gives free tuition to the children of childcare teachers. However, one potential solution appears to be working, but only if governments are willing to step in and help. AdvertisementAdvertisementNPR found one example of a center offering free tuition to employees without state assistance in West Virginia. Many childcare centers may be forced to close.

Persons: —, Kentucky Daniel Light, Sinead, ZipRecruiter, Luis Alvarez, Clive R Organizations: Service, Census Bureau, Center for American Progress, Bluegrass State, NPR, Bureau of Labor Statistics, Economic, Institute, Walmart, View, National Association for, Education of Young Locations: Kentucky, West Virginia, NPR , Kentucky

Some childcare operators told Insider the end of pandemic-era funding could make the problem worse. To keep the doors open at her Southampton Township, New Jersey, childcare center, she needs to find new clients or new funding. Jackson is just one of many providers across the US entering a period of uncertainty after a pandemic-era infusion of federal childcare funding ran out at the end of last month. That funding expired on Saturday, along with $13.5 billion in childcare funding from other pandemic-era legislation. She added: "What we're likely to see is childcare providers doing everything they can to continue to operate.

Persons: —, Jackson, Patti Smith, Joe Biden's, they'd, Allyx Schiavone, Lauren Bauer, Molly Kinder, Julie Kashen, Kashen, Schiavone, Cristi Carman, they're, Carman, Shannon Hampson, Hampson, we're, Rep, Katherine Clark, Julia Pollak, ZipRecruiter, there's, Grant Organizations: Service, Greenway, National Association for, Education of Young Children, Rescue, Friends Center for Children, American Progress, Brookings Institution, The Century Foundation, Care, American Locations: Southampton Township , New Jersey, Maryland, Lincoln , Nebraska

☆ A government shutdown would be a 'gut punch' to Head Start programs that serve 10,000 low income children
▼ + stars: | 2023-09-30 | by ( Associated Press | ) www.businessinsider.com time to read: +7 min

Head Start programs, which serve over 10,000 children across the nation, would lose funding. If the shutdown isn't averted, Head Start programs serving more than 10,000 children would immediately lose federal funding, including Ferguson's program. This is a particular concern with nearly 20% of Head Start staff positions vacant nationwide, according to the National Head Start Association. The 16-day October 2013 shutdown was the last to hit Head Start hard, affecting 19,000 children and shuttering programs in several states. Laketia Washington, a mother of eight whose 3- and 5-year-olds attend Head Start programs in Tallahassee, Florida, lamented the turmoil as she rang up customers at a discount store.

Persons: —, Monette Ferguson, Ferguson, Tommy Sheridan, Sheridan, Bobby Kogan, Lori Milam, she's, Philip Shelly, Nikki Budzinski, Maureen Coffey, Lynn Karoly, John, Laura Arnold, what's Organizations: Service, Alliance for Community Empowerment, Start Association, Sunday, Center for American Progress, West Virginia, Democratic U.S ., Start, Center for American, Rand Corp, Tim Center, Capital Area Community Action Agency Locations: Connecticut, Florida , Alabama , Connecticut, Georgia , Massachusetts, South Carolina, Illinois, Minnesota , New York, Maine, Houston, Florida, Laketia Washington, Tallahassee , Florida

If the shutdown isn’t averted, Head Start programs serving more than 10,000 children would immediately lose federal funding, including Ferguson's program. That's what worries Lori Milam, executive director of the West Virginia Head Start. This is a particular concern with nearly 20% of Head Start staff positions vacant nationwide, according to the National Head Start Association. Another pot of COVID-19 relief funds that helped Head Start ran out in the spring. Laketia Washington, a mother of eight whose 3- and 5-year-olds attend Head Start programs in Tallahassee, Florida, lamented the turmoil as she rang up customers at a discount store.

Persons: Monette Ferguson, “, ”, Ferguson, Tommy Sheridan, Sheridan, Bobby Kogan, Lori Milam, she's, Philip Shelly, Nikki Budzinski, Maureen Coffey, “ It’s, Lynn Karoly, John, Laura Arnold, what’s Organizations: KANSAS CITY, Alliance for Community Empowerment, Start Association, Sunday, Center for American Progress, West Virginia, Democratic U.S ., Start, Rand Corp, Tim Center, Capital Area Community Action Agency Locations: KANSAS, Mo, Connecticut, Florida , Alabama , Connecticut, Georgia , Massachusetts, South Carolina, Illinois, Minnesota , New York, Maine, Houston, Florida, Laketia Washington, Tallahassee , Florida

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