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☆ To shore up Social Security, this controversial proposal calls for limiting retirement plan tax perks
▼ + stars: | 2024-02-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

But a new research proposal published by the Center for Retirement Research at Boston College by experts at the opposite ends of the political spectrum has sparked considerable opposition. Together, they call for limiting current tax preferences for retirement savings plans, and instead redirecting those funds to help shore up Social Security. How retirement plan tax incentives workIn 2024, the limit for total employee and employer contributions to a defined contribution plans such as 401(k)s is $69,000 in 2024. By rolling back the tax incentives provided through defined contribution retirement plans, the money saved could be used to help fix a portion of Social Security's funding gap, the researchers argue. "We now have an industry and a policy based on 401(k)s and defined contribution plans that has been, relatively speaking, successful," Fichtner said.

Persons: Andrew Biggs, Alicia Munnell, Biggs, Munnell, Michael Wicklein, Jason Fichtner, Fichtner Organizations: Istock, Getty, Center for Retirement Research, Boston College, American Enterprise Institute, Federal Reserve Bank of Boston, Social Security, U.S, Mercatus, George Mason University, Cato Institute, National Association of Plan, Center, Board

(AP) — Conservative lawmakers who want to intertwine religion with school curriculum in Republican-dominated Nebraska presented a slew of bills Monday to the state Legislature’s education committee. Another measure would change school funding to loop in private school tuition while forbidding the state from interfering in private schools’ curriculum or beliefs. The bill introduced last year was among those that stalled as conservatives focused on passing a bill to allow taxpayer money to be used to fund private school scholarships. Others argued Erdman’s bill would hurt funding for rural school districts like his own, which has fewer than 350 students. Under the bill, out-of-state teachers could gain Nebraska certification by taking a knowledge-testing exam they must pass.

Persons: LINCOLN, Sen, Dave Murman, Steve Erdman’s, Erdman, ” Ron Cunningham, Lincoln, Loren Lippincott’s, “, Omaha Sen, Kathleen Kauth —, Jim Pillen Organizations: — Conservative, Republican, Nebraska Legislature’s, Democratic, Omaha, Gov Locations: Neb, Nebraska, Glenvil, Arizona

Just hours before the government was set to shut down, lawmakers reached a funding deal. AdvertisementAdvertisementLawmakers in Congress miraculously managed to avoid a government shutdown, just three hours before the 12:01 a.m. deadline. AdvertisementAdvertisementNotably, the bill did not contain more funding for Ukraine, a key objection for some Republicans. The consequences of a shutdown would have been drastic for thousands of federal workers, along with Americans who rely on a range of federal programs. House Democrats said in the statement that they expect McCarthy to advance a bill to the House floor for an up-or-down vote on Ukraine funding.

Persons: —, Kevin McCarthy, Joe Biden, Marsha Blackburn, Mike Braun, Ted Cruz, Bill Hagerty, Mike Lee, Roger Marshall, Rand Paul, Eric Schmitt, JD Vance, Matt Gaetz, McCarthy, Gaetz, Andrew Bates, Biden Organizations: Service, Federal Aviation Administration, National Flood Insurance, Ukraine, Republican, Social, GOP, Democratic, House Republicans, House Democrats, Republicans Locations: Ukraine

☆ Steve Pieters, Pastor Who Spoke of AIDS in Famed Interview, Dies at 70
▼ + stars: | 2023-07-19 | by ( Neil Genzlinger | More About Neil Genzlinger | ) www.nytimes.com time to read: +1 min

(A stage musical, “Tammy Faye,” which opened last year in London, also incorporated the 1985 interview.) “That interview was why I needed to make the movie,” Ms. Chastain told Variety at the movie’s New York premiere in 2021. I’m 100 percent convinced that there were people — conservative Christians watching at home — who realized that they had judged their family members unlovingly. I’m convinced that that interview saved families and saved lives.”If Ms. Bakker defied expectations with that interview, Mr. Pieters long defied AIDS, surviving for decades despite repeated health struggles. What a privilege to have reached the age of 70, still dancing with joy.”

Persons: Jessica Chastain, Bakker, Tammy Faye, ”, Pieters, Randy Havens, “ Tammy Faye, Ms, Chastain, Variety, —, unlovingly, I’m, Harlan Boll, “ Locations: London, York, Glendale , Calif, Los Angeles, Hope

☆ Fox, Trump and Millennial Movement
▼ + stars: | 2023-06-14 | by ( Nate Cohn | ) www.nytimes.com time to read: +1 min

They almost never do, and the handful of polls since the Trump indictment appear to be no exception. For now, the way to tell whether it could eventually make a difference may not be to watch the polls, but to watch Fox News instead. In some cases, they can even force Mr. Trump’s rivals to come to his aid! It might become acceptable to lightly critique Mr. Trump’s conduct. Perhaps in time, his opponents would feel comfortable expressing outrage about Mr. Trump’s conduct — even if it’s outrage that he allowed himself to fall prey to the odious Deep State.

Persons: Trump, Donald J, Trump’s Organizations: Fox Locations: State

☆ Republicans are preparing to let some bills go unpaid as the debt ceiling crisis looms. Janet Yellen says their plan is just 'default by another name.'
▼ + stars: | 2023-03-13 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Another debt ceiling crisis is looming, and Republicans and Democrats aren't negotiating. "Prioritization is simply not paying all of the government's bills when they come due. This isn't the first time Yellen has slammed GOP plans to address the debt ceiling. "What's critical is that we maintain our commitment to pay the government's bills — all the government's bills — when they come due," Yellen said on Friday. The clock is ticking for Congress to raise the debt ceiling, with the US expected to run out of measures to keep the government funded as soon as July.

WASHINGTON — Conservative Justice Brett Kavanaugh said the Supreme Court is not as divided as members of the public might think, praising his liberal colleagues and highlighting rulings in which the justices were not divided on ideological lines during a recent public appearance. Kavanaugh had special praise for the late liberal Justice Ruth Bader Ginsburg, the recently retired liberal Justice Stephen Breyer and Breyer’s successor, liberal Justice Ketanji Brown Jackson, saying she “has hit the ground running" and is "thoroughly prepared." Ginsburg and Breyer "couldn't have been better at welcoming me to the court," Kavanaugh said, referring to his nomination by then-President Donald Trump in 2018. Kavanaugh this week appeared eager to counter any perceptions that the court is usually divided on ideological lines, pointing out several cases in which he had joined liberal justices in 5-4 decisions. Statistics compiled for the SCOTUSblog legal website showed, however, that in the previous court term only 29 percent of the decisions were unanimous, lower than at any time in the past two decades.

WASHINGTON — Conservative hard-liners are consolidating power in the narrow new House majority, presenting early challenges for Republicans in swing districts ahead of the 2024 election as Democrats seek to paint the entire party as beholden to extremists. Twenty House GOP hard-liners have set the tone, extracting a series of concessions from Speaker Kevin McCarthy, R-Calif., to change House rules while securing plum committee assignments and winning assurances about advancing their legislative priorities. “If you can’t win independent voters, you can’t win elections.”Democrats are targeting 25 districts to win back the House majority next year, including 18 Republican-held seats that Biden carried in 2020. In the narrow Republican majority, McCarthy has only four votes to spare before he requires Democratic support to pass measures. Lance, the former congressman, argued that renominating former President Donald Trump could cost Republicans the House.

WASHINGTON — Conservative lawmakers sent a strong message to House Republican Leader Kevin McCarthy on Monday, telling him he doesn't have the votes to be the next speaker. Drew Angerer / Getty Images“We expect there will be a contest tomorrow, that there will be another candidate, and I don’t think anybody’s going to get 218 votes tomorrow,” said Rep. Bob Good, R-Va., who is opposing McCarthy for speaker. Good has said that a number of Republicans will be interested in jumping into the race once they realize McCarthy can’t secure 218 votes on his own. Jordan, the founding chairman of the caucus who unsuccessfully challenged McCarthy for minority leader in 2018, also is backing McCarthy. Period.”Inside the candidates forum on Monday, McCarthy was pressed by Rep. Matt Gaetz, R-Fla., a frequent McCarthy critic, on whether he would work with Democrats to secure 218 votes for speaker.

☆ Trump Media documents suggest Parler, Rumble as possible merger partners
▼ + stars: | 2022-11-02 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

The Rumble video platform logo on a laptop computer arranged in Hastings on Hudson, New York, on Saturday, Jan. 23, 2021. Trump Media and Technology Group executives named Parler and Rumble as theoretical acquisitions or partners, according to documents provided by co-founder and whistleblower, William Wilkerson, through his counsel. Wilkerson was one of the early executives at Trump Media and its Twitter-esque social media platform Truth Social. DWAC and Trump Media are also the subject of a criminal probe into possible securities violations relating to conversations that occurred between the two parties prior to the merger announcement. While the photo names these possible acquisition targets, it also names a number of other ventures for Trump Media that have yet to come to fruition, including "Trump Faith/Classic Films," "Trump Book Publishing" and "Trump Documentaries."

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