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☆ Get ready for a dockworker strike that could disrupt everything from medicine to holiday gifts
▼ + stars: | 2024-09-24 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

Read previewA major maritime workers strike is looming, and it could mean a shutdown of key goods — from cars to food — across the East and Gulf Coasts. AdvertisementA strike would have widespread implications across the US, with significant shipment delays that could set off a chain reaction of disruptions. Advertisement"We are coordinating with partners across the supply chain to prepare for any potential impacts," Steve Burns, a PANYNJ spokesperson, told BI. She referred to estimates from Sea-Intelligence, which predicted that a strike would prevent 74,000 shipping containers from being unloaded each day. "Throughout the pandemic, Longshore workers never took a day off," ILA Executive Vice President Dennis Daggett said on September 20.

Persons: —, Harold Daggett, Abe Eshkenazi, USMX, Mia Ginter, Robinson, Ginter, Bethann Rooney, Jonathan Gold, Mitre, Steve Burns, Grace Zwemmer, Biden, Dennis Daggett Organizations: Service, Gulf Coasts, Longshoreman's Association, Business, ILA, Association for Supply Chain Management, National Association of Manufacturers, United States Maritime Alliance, Port Authority of New, National Retail, New Jersey, Bureau of Transportation Statistics, Oxford Economics, Intelligence Locations: East, Gulf, Gulf Coast, East Coast, Port Authority of New York, New Jersey, West Coast, New York, New, Houston

☆ Student-loan companies that don't do their jobs should be fired, Elizabeth Warren says. Her next target is one that manages 8 million borrowers.
▼ + stars: | 2024-09-22 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

For nearly a decade, Massachusetts Sen. Elizabeth Warren has been working to enforce oversight over Navient, a major student-loan company. Warren and some of her Democratic colleagues were concerned that the company was not properly managing student-loan borrowers' payment options, causing them to accumulate unaffordable student debt. However, it released an accountability framework in December that outlined enforcement actions it would take should servicers harm borrowers, including fining servicers and transferring borrowers to better-performing servicers. For example, MOHELA was the first servicer to be hit with a $7 million fine last October for failing to send on-time billing statements to over 2 million borrowers. Terminate MOHELA's contract and put loan services on notice: we will not tolerate your negligence and exploitation; we will not let you profiteer off vulnerable student borrowers."

Persons: Massachusetts Sen, Elizabeth Warren, Rohit Chopra, Warren, We've, Navient, Chopra, there's, Jim Clyburn, Miguel Cardona, MOHELA, fining, servicers, Ayanna Pressley, we've, who've Organizations: Service, Warren, Democratic, Consumer Financial Protection, Navient, Business, Education Department, BI, Sec, The Education Department Locations: Massachusetts, CFPB

☆ Childcare workers say JD Vance's idea to have family help out more with kids isn't feasible: 'Grandparents should not be the fallback'
▼ + stars: | 2024-09-21 | by ( Eliza Relman | Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

Childcare is often top of mind for parents — and it might also be a deciding factor at the ballot box. Many parents just don't have the luxury of relying on family to provide childcare, Drew said, and they shouldn't have to. Schell said that grandparents have actually stepped in to help provide childcare for some parents, especially during the pandemic. Bock said that it would be helpful to find a way to pay grandparents for childcare responsibilities. AdvertisementBut without that extra support, handing childcare over to grandparents isn't feasible.

Persons: —, Ohio Sen, JD Vance, Donald Trump's, Charlie Kirk, Vance, Kirk, he's, Taylor Van Kirk, Debbie Drew, wasn't, Drew, Wendi Schell, Schell, Renee Bock, Bock, " Bock, Elliot Haspel, It's, it's Organizations: Service, Business, Teachers, Republicans, New York Department of Education, Social Security, Capita Locations: Portage , Wisconsin, Bronx

☆ The Fed's interest-rate cut put Trump even more at odds with the central bank
▼ + stars: | 2024-09-19 | by ( Ayelet Sheffey | Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

On Wednesday, the Federal Open Market Committee announced an interest-rate cut of 50 basis points, the first cut Americans have received in over four years. AdvertisementHe's argued in the past that the Fed would only cut rates close to the election to aid Democrats, which he reiterated leading up to the central bank's announcement. Trump sought to use his presidential power to appoint members to the Fed board who supported his unorthodox views of the central bank. Trump has flip-flopped his views on his most important appointment to the Fed: Powell. Trump's tepid support of Powell underlines just how mercurial he can be when it comes to the central bank.

Persons: —, Donald Trump isn't, Jerome Powell, Trump, they're, He's, Powell, Judy Shelton, Shelton, Sen, Susan Collins, Herman Cain, Stephen Moore, Michelle Bowman, Christopher Waller, he's, reappoint Powell, Trump hasn't Organizations: Service, Federal, Market Committee, Democratic, Business, Federal Reserve, Street, Trump, Bloomberg, Fox, Fed, Governors, Maine Republican, Fed Board, Bloomberg News Locations: New York, Michigan, Maine

☆ The Fed gives the US its first jumbo interest-rate cut in 4 years
▼ + stars: | 2024-09-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

It's the first time the Federal Reserve has cut rates since March 2020. The unemployment rate also ticked down in August, giving the Fed the data it needed to cut rates. AdvertisementAccording to CME FedWatch, which estimates interest-rate changes based on market predictions, a rate cut was all but certain; the question was how big of a cut the Fed would implement. Additionally, some economists and Democratic lawmakers had for months been calling for a rate cut of at least 50 basis points. "They're going to cut rates this week," Bharat Ramamurti, a senior advisor for economic strategy at the American Economic Liberties Project, told reporters during a Monday briefing.

Persons: —, Jerome Powell's, Skanda Amarnath, Democratic Sens, Elizabeth Warren, John Hickenlooper, Sheldon Whitehouse, Powell, delinquencies, Bharat Ramamurti Organizations: Service, Federal, Market Committee, Federal Reserve, Business, CME FedWatch, Democratic, Fed, American Economic Liberties Locations: Jackson Hole , Wyoming, America

☆ When interest-rate cuts will hit credit cards, car loans, and mortgages
▼ + stars: | 2024-09-18 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Read previewThe nation's central bank has finally cut interest rates for the first time in over four years. AdvertisementStill, Hamrick said within a day of the Fed's rate cuts, banks will likely adjust their prime lending rates, which will be noticed in credit-card rates "immediately." The Fed rate cuts indirectly affect mortgages, which are generally based on other interest rates that are loosely tied to the Fed funds rate. And when it comes to businesses, rate cuts will have a positive impact on their operations, making it cheaper to take out loans. Are you planning to make any big purchases now that the Fed has cut interest rates?

Persons: —, Mark Hamrick, Erica Groshen, Michele Raneri, Raneri, Hamrick, Elizabeth Renter, Renter Organizations: Service, Federal, Market Committee, Democratic, Fed, Business, Cornell University, Bureau of Labor Statistics, Consumer Financial, TransUnion, asheffey

☆ Welcome to interest-rate cut week: Here's how the Fed's next move will impact everything from home prices to new cars loans
▼ + stars: | 2024-09-16 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

According to CME FedWatch, which estimates interest rate changes based on market predictions, the size of the rate cut is a coin toss. As of Friday afternoon, there's a 51% chance the Federal Reserve will cut rates by 25 basis points and a 49% chance it'll be an extra-large 50-basis-point cut. That's because a larger rate cut makes borrowing cheaper, which tends to drive up spending and fuel price increases. Rate cuts will also eventually make it cheaper for small businesses to take out loans. A rate cut could cause a rush of buyers to enter the market in the short term, driving up prices and competition.

Persons: Jerome Powell, Michael Madowitz, she's, McTier, it'll, Mark Hamrick, Banks, Hamrick, NerdWallet, Sara Rathner Organizations: Service, Federal, CME FedWatch, Federal Reserve, Business, Washington Center for Equitable Growth, Fed, Consumer Financial, Bureau, asheffey Locations: Jackson Hole , Wyoming, McTier

☆ Millions of student-loan borrowers are about to lose a key safeguard that'll put their credit scores and debt relief at risk
▼ + stars: | 2024-09-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Read previewA key protection for student-loan borrowers is ending this month. On September 30, the on-ramp period for federal student-loan borrowers is coming to an end. AdvertisementThe Education Department has not announced any further protections for missed payments, but it's working to carry out different forms of relief. Additionally, President Joe Biden's second attempt at broader student-loan forgiveness is also already facing a lawsuit, delaying the timeline for millions of borrowers to get debt relief. The legal challenges, along with the conclusion of the on-ramp period, present a challenging time for student-loan borrowers as the year comes to a close.

Persons: —, Joe Biden's Organizations: Service, Education Department, Business, Public, Office, Congressional, New York Federal Reserve, Social Security, Department, GOP

☆ More Gen Zers are ditching college, and they want better guidance on how to succeed without it
▼ + stars: | 2024-09-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

Despite not having a high school diploma or college degree, he started multiple successful businesses that allowed him to financially support his family. During her senior year of high school, Wakeham was struggling to decide on her post-graduation route. US Census Bureau data found the enrollment rate of high school graduates at 61.4% in October 2023 was slightly down from 62% in 2022. Indeed, even as some Gen Zers don't think college is the best path for them, recent data has shown that college continues to provide long-lasting benefits when it comes to careers and earnings. Some high schools have shifted to place a greater emphasis on alternative routes since the pandemic.

Persons: LeLaina Wakeham, Wakeham, didn't, Zers, Zach Hyrnowski, Hyrnowski, we've, Hrynowski, that's, Hannah Maruyama, Maruyama, Jared Polis, — she's Organizations: Service, Business, Gallup, Walton Family Foundation, Colorado Gov, Bureau of Labor Statistics, Reinventing Public Education, roundtables Locations: Mexico, New England

Many said he failed to acknowledge the real reason many grandparents don't help with childcare more: They can't afford to. Many American families are stuck between a retirement crisis and a childcare crisis, with young parents unable to help their own parents — and vice versa. The childcare crisis meets the retirement crisisSandra, 51, has been dealing with both childcare and eldercare challenges over the past year. "And that would help parents who want to stay home and care for kids; it would also help grandparents who want to help care for kids while their parents are working." AdvertisementRachidi also said that revisiting the usefulness of regulations around informal care — settings like friend and family care — should be on the table, too.

Persons: Linda C, Donald Trump, Joe Biden, Sen, JD Vance, Linda, I'd, Vance, Trump, she's, —, Taylor Van Kirk, Van Kirk, Sandra, grandpa, Elliot Haspel, Haspel, Kamala Harris, Jennifer Baker, they'd, that's, Baker, who's, Angela Rachidi, Rowe, Rachidi, Connie Adler, Adler, Vance's Organizations: Service, Democratic, Business, AARP, Capita, American Enterprise Institute, asheffey Locations: California, Sweden, Arizona

☆ Student-loan borrowers are getting $100 million in payments after being 'cheated' out of lower bills by a major lender, a federal consumer watchdog says
▼ + stars: | 2024-09-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Read previewA yearslong legal battle with a major student-loan company has finally come to an end, and borrowers are getting their money back. The settlement permanently bans Navient from servicing federal loans and prohibits the servicer from managing most loans within the Federal Family Education Loan program. It also requires Navient to pay a $20 million penalty to the CFPB, along with $100 million to impacted borrowers. Last year, for example, Navient agreed to a $198 million settlement with private student-loan borrowers who claimed the lender was collecting debts that should have been discharged in bankruptcy. Along with Navient, the CFPB recently filed a lawsuit against student-loan company PHEAA, accusing it of illegally collecting payments from borrowers who were discharged in bankruptcy.

Persons: —, servicer, Rohit Chopra, Eric Halperin, Navient Organizations: Service, Consumer Financial, Bureau, Business, Family Education, Democratic, PHEAA

☆ Millions of student-loan borrowers' payments are being 'wildly' mismanaged by a major servicer — and it might be time to terminate its contract, over 50 Democratic lawmakers say
▼ + stars: | 2024-09-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +1 min

A group of Democratic lawmakers requested increased oversight over student-loan company MOHELA. They said that the Education Department should consider ending MOHELA's contract. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt might be time for the Education Department to consider firing a major student-loan company, a group of Democratic lawmakers say. For example, in October last year, the Education Department withheld over $7 million in pay from the servicer over its failure to send on-time billing statements to 2.5 million borrowers.

Persons: MOHELA, —, Sen, Elizabeth Warren, Jim Clyburn, Secretary Miguel Cardona Organizations: Democratic, Education Department, Service, Secretary, Business

☆ A major student-loan company is once again at the center of a lawsuit blocking debt cancellation for millions of borrowers
▼ + stars: | 2024-09-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Even with the financial burden his student debt has brought him, Larry said he has tried to remain optimistic about the prospect of debt relief, given President Joe Biden and Vice President Kamala Harris' actions during their term. Larry and millions of other student-loan borrowers will have to keep waiting. It's the same argument a different group of GOP states used that led the Supreme Court to strike down Biden's first attempt at broad debt relief last summer. Their arguments are based on internal documents the states obtained from the Education Department to federal student-loan servicers regarding preparation to implement its second try at broader debt relief. According to the documents, the Education Department sent a memo to MOHELA saying, "In September of 2024, the Biden-Harris Administration will launch the Federal Student Loan Debt Initiative."

Persons: missouri Larry, bachelor's, Larry —, —, Larry, Joe Biden, Kamala Harris, I've, they've, I'm, Biden, Biden's, Luke Herrine, Herrine, Harris, Sen, Bill Cassidy, MOHELA, he's Organizations: Service, Business, Higher, University of Alabama, GOP, Department of Education, Education Department, Biden, Harris Administration, Federal, Loan, Initiative, Department, Republican Locations: missouri, Georgia's, Missouri, Missouri , Georgia, Alabama , Arkansas, Florida, North Dakota, Ohio

JD Vance's plan to tackle high childcare costs may not take into account the looming retirement crisis facing millions of older Americans. When Kirk asked how Vance planned to address the issue, Vance suggested extended family members step in to relieve the financial burden on parents. AdvertisementNot many states require childcare workers to have college degrees or certifications. But he may have been referring to a new law in the nation's capital that requires many childcare workers to have a two-year associate degree, among other training. Vance has condemned universal childcare, calling it a subsidy for the affluent and a "class war against normal people."

Persons: JD Vance's, Vance, Donald Trump's, Charlie Kirk, —, Kirk, didn't, who's, that's, Linda, Katie Britt, Alabama, Mike Lee of, Laurie Furstenfeld Organizations: Service, Bank of America, Survey, Social Security, Business, Republicans, Congress, Child Care Law, asheffey Locations: California, Florida, Mike Lee of Utah, Berkeley , California

☆ Americans just got the biggest confirmation yet of an interest rate cut next month — but the job market hangs in the balance
▼ + stars: | 2024-08-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

He offered details on the Fed's thinking as the next Federal Open Market Committee meeting approaches in September, with all eyes on the first interest rate cut since the pandemic began. AdvertisementIt's all but certain that the Fed will cut rates in September. That leaves the big question of how much — not if — the Fed will cut rates, and the upcoming jobs report will likely shed some light on that question. "Today, the labor market has cooled considerably from its formerly overheated state. "But the inflation and labor market data show an evolving situation.

Persons: Jerome Powell, Powell, Jackson, precarity, Austan Goolsbee, we've Organizations: Service, Federal, Business, CME, Bureau of Labor Statistics, Democratic, Chicago Fed

☆ Meet the millennials who got student-loan forgiveness and now have the freedom to save for retirement, grow their families, and consider going back to school
▼ + stars: | 2024-08-14 | by ( Ayelet Sheffey | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +17 min

Scott M. Smith, 40, wasn't expecting student-loan forgiveness. Scott M. Smith, 40, received student-loan forgiveness through PSLF. AdvertisementThe freedom to go back to schoolFor Paul Smylie, 39, student-loan forgiveness means something else. Smylie's student-loan forgiveness is giving him the financial freedom to consider doing just that. In a rule first established under President Barack Obama, any student-loan borrower who can prove they are totally and permanently disabled is eligible for student-loan forgiveness.

Persons: Scott M, Smith, wasn't, — Smith, servicer, hadn't, —, who's, PSLF, Joe Biden's, Millennials who've, Zers, millennials —, Gen Xers —, Paul Smylie, Smylie, Gen Xers, Chloe Moore, Financial Staples, Keenan Casey, CiCora Leigh, Leigh, Cicora Leigh, Barack Obama, Beverley —, Beverley, Grayson Hofferber, Hofferber, they'll, that's, someone's, Casey Organizations: Service, Public, Business, Education Department, Federal Reserve, SAVE, Appeals, Associated Press, Gallup, Lumina Foundation, millennials, Financial, Army, University of Mississippi, Veterans Affairs, BI, Millennial Wealth Management Locations: Mississippi, Beverley, forbearance, deferment

☆ Millennial and Gen Z retirements might actually be OK while boomers and Gen X could struggle. It's due to how savings have changed over time.
▼ + stars: | 2024-08-13 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Assuming no changes to Social Security benefits, 37% of Gen Z and 44% of millennials could experience retirement shortfalls, coming in below 47% of Gen X and 52% of boomers. One 68-year-old previously told BI that she cannot afford to retire and is living off her Social Security and salary. According to the report, only around 28% of US households would face retirement shortfalls if they retire at 70. "You can delay claiming Social Security and get a bigger benefit and inflation-adjusted benefit."

Persons: —, Gen Xers —, Zers, Gen X, X, Spencer, Morningstar, Xers, Gen Organizations: Service, Financial, Morningstar, Social Security, Business, Consumer, Alliance, Lifetime, Pensions

☆ America's subscription trap nightmare could be coming to an end
▼ + stars: | 2024-08-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +1 min

They include a proposal to make it easier to cancel subscriptions and memberships. They would also address bad customer service with a rule to make it easier to speak with a human. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . These rules would ensure people are not stuck paying subscriptions they don't want, losing money and time in the process.

Persons: —, Joe Biden's Organizations: White, Service, Federal Trade Commission, Department of Transportation, Consumer Financial Protection Bureau, Business

☆ Everything we know about "Daredevil: Born Again," where creepy villain Muse will join the MCU
▼ + stars: | 2024-08-12 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +5 min

Read preview"Daredevil: Born Again" is giving Charlie Cox the chance to return as blind lawyer-turned-vigilante Matt Murdock, several years after the Netflix "Daredevil" series was axed. "Daredevil: Born Again" introduces the serial killer, Muse. AdvertisementThis confirms that Daredevil will face off with Bullseye again after their brutal conflict in "Daredevil" season three. "Daredevil: Born Again" releases on Disney+ in March 2025. Marvel Studios/DisneyThe D23 2024 panel for the series confirmed that "Daredevil: Born Again" starts streaming on Disney+ in March 2025.

Persons: —, Charlie Cox, Matt Murdock, Jessica Jones, Luke Cage, Cox, Murdock, Peter Parker, Tom Holland, Jennifer Walters, Ron Garney, Charles Soule, Wilson Bethel, Griffin, Benjamin Poindexter, Bullseye, Jon Bernthal, Frank Castle, Matthew Murdock, Deborah Ann Woll, Elden Henson Charlie Cox, Elden Henson, Vincent D'Onofrio, Jesse Grant, Karen Page, Foggy Nelson, Bernthal, D'Onofrio, Vanessa Fisk, Margarita Levieva, Heather Glenn, los Reyes Organizations: Service, Netflix, Business, Marvel, Marvel Entertainment, Forbes, Disney, Marvel Studios, TV Locations: New York

☆ Forget free cash, there's an even more American way to help people get ahead
▼ + stars: | 2024-08-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +11 min

Read previewGuaranteed basic income is all the rage right now. Countries including India, Argentina, and Austria have tested out small-scale guaranteed job programs. Cleveland's jobs guaranteeFor Cotten, ensuring jobs for any American who needs one is a no-brainer. While many cities are testing out basic income programs, they haven't been universal and instead targeted specific groups in need like artists, new parents, low-income families, or people experiencing homelessness. Republican lawmakers have introduced bills to ban basic income programs in their states, with some arguing that handing out checks with no strings attached would disincentivize work and raise taxes.

Persons: —, that's, what's, Tcherneva, Sen, Bernie Sanders, Ayanna Pressley, Devin Cotten, Cotten, Franklin Delano Roosevelt's, Sanders, Pressley, Andrew Yang —, Gerald Connolly, UBE, Lukas Lehner, Lehner, Maximilian Kasy, they're, Kasy Organizations: Service, Business, Bard College, American, Democrats, Republicans, Washington Post, Social Security, Universal, University of Oxford, European Commission, European Union Locations: Denver, Baltimore, India, Argentina, Austria, Cleveland, Virginia, Austrian, Marienthal, South Africa, United States, France

☆ 8 million student-loan borrowers on Biden's new repayment plan just got more bad news after a federal court officially blocked cheaper payments and debt cancellation
▼ + stars: | 2024-08-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +1 min

The 8th Circuit officially blocked the SAVE student-loan repayment plan in its entirety. It replaces its temporary stay on the plan from July, which paused cheaper payments and debt relief. Enrolled borrowers will likely be in limbo for long as the legal process progresses. AdvertisementThe legal roller coaster for millions of student-loan borrowers continues. On Friday, the 8th Circuit Court of Appeals placed a preliminary injunction on President Joe Biden's SAVE income-driven repayment plan, intended to lower monthly payments and shorten the timeline for relief for the 8 million borrowers enrolled.

Persons: —, Joe Organizations: Service, Circuit, Business

☆ Lyft is pulling back on 'rideshare's most hated feature.' But it's the way of the future for many big companies.
▼ + stars: | 2024-08-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Read previewPeople hate surge pricing — and Lyft says it hears them. The feature would compete with Uber by giving customers some certainty ahead of time as to how much they'll pay for a ride; Risher said surge pricing is "probably rideshare's most hated feature." Economists have told Business Insider that as algorithms get better and more retails adopt easily-changed digital price tags, customers could start seeing it in even more places. Elizabeth Warren and Bob Casey also launched an investigation into Kroger's price tags over their potential to surge prices. But when looking at technological innovations at other big companies to make it easier to change prices, stable pricing likely won't come anytime soon.

Persons: —, Lyft, David Risher, Price, Risher, Elizabeth Pancotti, Democratic Sens, Elizabeth Warren, Bob Casey, it'll Organizations: Service, Business, Uber, Walmart, Kroger, Roosevelt Institute, Democratic, Cincinnati Enquirer

☆ Trump wants to cut Social Security taxes for seniors. It's not as good as it sounds.
▼ + stars: | 2024-08-08 | by ( Allie Kelly | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Read previewFormer President Donald Trump said that if he's elected, he'd cut taxes on Social Security benefits for older Americans — but the policy risks shrinking those funds sooner than expected. "People on Social Security are being killed, and one of the things I'm doing is no tax for seniors on Social Security, and I'll get it done quickly." Trump had previously pitched his plan to eliminate taxes on Social Security, writing on his social-media platform Truth Social on July 31: "SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!" Trump has vowed not to cut Social SecurityTrump has previously taken a strong position on Social Security — one at odds with many members of his own party who have faced criticism from Democrats for calling for Social Security cuts. For example, Trump said in January 2023 that "under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security."

Persons: —, Donald Trump, Trump, Garrett Watson, Trump's, we'll, Social Security Trump, Biden, Kamala Harris Organizations: Service, Social Security, Fox &, Republican, Business, Social, The Tax, Security, Republican National Committee, Democratic, Medicare, Affordable Locations: Illinois

☆ A major student-loan company is 'improperly' rejecting some borrowers for debt cancellation they qualify for, 35 Democratic lawmakers say
▼ + stars: | 2024-08-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA group of Democratic lawmakers wants answers from a major student-loan company on its debt relief process for the borrowers it services. The issue at play: There's a process for borrowers with federal student loans to apply for a debt discharge if they can prove they were defrauded by their school. President Joe Biden's Education Department has canceled debt for millions of borrowers over the past few years under that process. But the lawmakers have said they're concerned Navient is continuing to narrowly define qualifications for discharge, resulting in borrowers being denied relief without sufficient explanations.

Persons: —, Sen, Elizabeth Warren, Madeleine Dean, Bernie Sanders, Ayanna Pressley —, Joe Biden's, Navient —, Warren, Navient, Holder, Leandro Pucci, Pucci, it's, who'd Organizations: Service, Democratic, Business, Joe Biden's Education Department, BI, Navient Locations: Navient

☆ Kamala Harris' VP pick Tim Walz has joked that Trump will attack his progressive policies, like giving Minnesota kids free school lunch and tuition-free college: 'What a monster!'
▼ + stars: | 2024-08-06 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +1 min

Tim Walz to be her vice president. Walz has championed a range of progressive policies like free school lunch and tuition-free college. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Tim Walz as her running mate.

Persons: Kamala Harris, Tim Walz, Walz, Trump, —, He's, Donald Trump Organizations: Minnesota Gov, Service, America, Democratic, Business Locations: Minnesota

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