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☆ Congress announces tax deal to expand child tax credit and revive breaks for businesses
▼ + stars: | 2024-01-16 | by ( Sahil Kapur | Kate Santaliz | ) www.cnbc.com time to read: +3 min

WASHINGTON — Senior lawmakers in Congress announced a bipartisan deal Tuesday to expand the child tax credit and provide a series of tax breaks for businesses. The deal, details of which were reported earlier by NBC News, would enhance refundable child tax credits in an attempt to provide relief to financially struggling and multi-child families. Democrats had demanded a larger child tax credit after an earlier version they passed for less than one year expired, causing child poverty to fall and then rise again after it lapsed. And Republicans were motivated to revive some expired portions of the 2017 Trump tax cuts for businesses. Wyden has said he hopes to pass the deal by the beginning of tax filing season, which is Jan. 29.

Persons: Cara Baldari, Evie, Sarah Orrin, Vipond, Otto, Jason Smith, Ron Wyden, Smith, " Wyden, Wyden, That's Organizations: D.C, U.S, Capitol, WASHINGTON —, Congress, NBC News, American Locations: China

[1/2] Members of the International Federation of Medical Students Associations hold placards during a protest demanding an end to fossil fuels at COP28 World Climate Summit, in Dubai, United Arab Emirates, December 3, 2023. Climate-related impacts "have become one of the greatest threats to human health in the 21st century", COP28 President Sultan Ahmed Al-Jaber said in a statement. The World Bank on Sunday launched a new Climate and Health program to explore possible interventions and public health solutions for developing countries. "We have new tools at the lab level that decimate mosquito populations," said Gates, whose foundation supports public health research and projects for the developing world. Former U.S. Secretary of State Hillary Clinton also spoke on Sunday at COP28, urging reform to the world's insurance system as another key requirement to keep people safe.

Persons: Amr Alfiky, Sultan Ahmed Al, Jaber, COP28, Joseph Vipond, Storm Daniel, Bill Gates, Gates, Hillary Clinton, Clinton, Gloria Dickie, Elizabeth Piper, Alexander Cornwell, Simon Jessop, Kate Abnett, William James, Katy Daigle, Jan Harvey Organizations: International Federation of Medical, United Arab Emirates, REUTERS, Rights, Physicians, World Health Organization, Bank, Sunday, Health, World Bank, Microsoft, Former U.S, Reuters, Thomson Locations: Dubai, United Arab, Alberta, Canada, Western, Libya, Pakistan, COP28

☆ How to Get a 401(k) Match for Your Student Loan Payments
▼ + stars: | 2023-10-16 | by ( Aly J. Yale | ) www.wsj.com time to read: +5 min

By Aly J. YaleAfter a three-year reprieve, federal student loan payments resumed in October for more than 40 million Americans. In fact, in a recent survey 22% of student loan borrowers said they would need to reduce their retirement savings to make room for their renewed payments. Thanks to a provision in the Secure 2.0 Act, legislation aimed at improving retirement benefits nationwide, in 2024 employers will be able to start counting student loan payments as qualifying contributions toward retirement matching programs. That means if your employer offers to match your 401(k) contributions, you could get that matched money without ever depositing funds in your retirement account. However, if staying on top of your student loan payments has stopped you from leveraging your employer’s matching program—or contributing to your retirement account entirely—a student loan matching benefit can help you start saving.

Persons: Aly J, ”, Joelle, Jesse Moore, Sara Vipond, Mercer, ” Vipond, —, You’ll Organizations: Yale, Financial, Fidelity Investments, “, Treasury Department, Secure Locations: Framingham, Mass

☆ 4 ways 'anchoring bias' can hurt you financially
▼ + stars: | 2023-06-21 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

A 401(k) match can be an unintentional anchor"Anchors" can be intentional or unintentional, said Klontz, a member of CNBC's Advisor Council. A 401(k) match can serve as an unintentional anchor. Companies choose the respective structure of their 401(k) match — and that structure may inadvertently influence a worker's savings rate. For example, a company may opt to pay a match worth up to 3% of a worker's salary. Encouraging investors to start with a micro-investment "leads to lower wealth accumulation in this brokerage account due to anchoring bias," according to the paper.

Persons: Klontz, they'll, Grill, Tim Vipond, Itzkowitz Organizations: Companies, Google, Corporate Finance, Bank, Getty, Puerto, CFI Education Locations: Hawaii, Puerto Rico

A resignation letter is one of the first steps in quitting your job. After talking to career experts, Business Insider has provided a sample of the exact format you should use in a resignation letter. Tim Vipond, CEO of Corporate Finance Institute, told Business Insider that a resignation letter is really just a formality after you've had a conversation with your manager. Similarly, job coach Lea McLeod previously told Business Insider that your letter doesn't need to be a summary of your entire employment history. Here's the exact format you should follow when writing a resignation letter to your boss.

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