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☆ The GOP’s Mickey Mouse Moment
▼ + stars: | 2023-04-21 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

Kimberley Strassel is a member of the editorial board for The Wall Street Journal. She writes editorials, as well as the weekly Potomac Watch political column, from her base in Alaska. Ms. Strassel joined Dow Jones & Co. in 1994, working in the news department of The Wall Street Journal Europe in Brussels, and then in London. She moved to New York in 1999 and soon thereafter joined the Journal's editorial page, working as a features editor, and then as an editorial writer. An Oregon native, Ms. Strassel earned a bachelor's degree in Public Policy and International Affairs from Princeton University.

☆ Fewer cars qualify for $7,500 EV tax credit. Here are 2 alternatives
▼ + stars: | 2023-04-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

A $4,000 tax credit for used EVswatch nowThe Inflation Reduction Act also created a tax credit for consumers who buy used electric or fuel-cell vehicles. The tax break for used cars, which took effect this year, is worth $4,000 or 30% of the sale price, whichever is less. Those income limits are "much lower" than the one that applies to the $7,500 tax credit for new vehicles, said Katherine Breaks, a managing director in KPMG's tax credit and energy advisory services group. "If I don't have $4,000 of tax liability, what's the tax credit worth to me? A tax break for leased EVsAlternatively, consumers also appear poised to get a tax break worth up to $7,500 for leasing new electric passenger vehicles.

☆ Democrats Discover the Age Issue
▼ + stars: | 2023-04-14 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

☆ A federal judge has blocked Biden's clean water rule in 24 states
▼ + stars: | 2023-04-13 | by ( Emma Newburger | ) www.cnbc.com time to read: +2 min

A federal judge on Wednesday blocked a Biden administration rule that would expand federal protections for hundreds of thousands of rivers, lakes, streams, wetlands and other waterways in 24 states. The Biden administration's clean water rule, issued in 2022, repealed a Trump-era rule that federal courts rejected and that environmental groups argued left waterways open to pollution. White House officials and environmental groups have argued that loosening federal water protections would harm sources of safe drinking water across the country. The rule applies federal protections to wetlands, tributaries and other waters that have a connection to navigable waters, and it doesn't impose a specific distance for when adjacent wetlands are protected. West Virginia and 23 other Republican-led states sued the EPA and other federal agencies in February, alleging the rule violates the U.S. Constitution.

☆ You still have time to claim $1.5 billion in tax refunds from 2019, IRS says
▼ + stars: | 2023-04-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

There are nearly 1.5 million people with unclaimed refunds from tax year 2019, worth almost $1.5 billion, with a median payment of $893, the agency said on Wednesday. The last chance to file and collect 2019 refunds is July 17. "The 2019 tax returns came due during the pandemic, and many people may have overlooked or forgotten about these refunds," IRS Commissioner Danny Werfel said in a statement. "Taxpayers can request copies of tax documents from employers and other sources like loan service providers," said Kathy Pickering, chief tax officer for H&R Block. Another way to access older tax documents is through your IRS online account, she said.

☆ The US Navy's Super Hornets are having trouble keeping up with the rest of the military's fighter jets
▼ + stars: | 2023-04-12 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

F/A-18E/F Super Hornets have mostly replaced F/A-18 Hornets as the US Navy's carrier-based fighters. The Super Hornet — which includes the single-seat F/A-18E and the two-seat F/A-18F — made its maiden flight in 1995. Super Hornet availability is now about 41% compared to about 26% for the Hornet, whose readiness dropped sharply at about the 25-year mark. But the CBO asked a more specific question: How did Hornets compare to Super Hornets at a similar age? Was the discrepancy caused by Super Hornets flying more hours than Hornets?

☆ Series I bond rate expected to fall to below 4% in May, experts say
▼ + stars: | 2023-04-12 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

But rates have been falling and the yield will decline again in May, experts say. Annual inflation rose by 5% in March, down from 6% in February, according to the U.S. Department of Labor. The annual rate may drop below 4%Based on inflation data from the past six months, Tumin says the variable portion of the I bond rate could drop to 3.38% in May. If the fixed rate remains at 0.4%, the new annual rate may drop to 3.79%, Tumin said. Of course, the combined annual yield is only an estimate until TreasuryDirect announces new rates in May.

☆ Feds propose options for managing Colorado River water shortage: 'Failure is not an option'
▼ + stars: | 2023-04-11 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +4 min

Photo taken on March 13, 2023 shows the Colorado River near Hoover Dam on the Arizona-Nevada border, the United States. The Biden administration on Tuesday released a document exploring potential solutions for managing the ongoing drought in the Colorado River Basin, which could be a step forward to imposing water delivery cuts from the Colorado River. "The Colorado River Basin provides water for more than 40 million Americans. The Colorado River has long been over-allocated, but climate change has worsened drought conditions in the region and reservoir levels have plummeted over the past couple decades. Responding to the drought will require compromise from all of the states that depend on the 1,450-mile-long Colorado River for water.

☆ That $7,500 electric vehicle tax credit may soon be harder to get. Here are 2 workarounds
▼ + stars: | 2023-04-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Why the new EVs credit may be harder to claim$4,000 credit for used EVs has fewer conditionsKrisztian Bocsi/Bloomberg via Getty ImagesThe Inflation Reduction Act also created a tax credit for consumers who buy used electric or fuel-cell vehicles. The tax break for used cars, which took effect in 2023, is worth $4,000 or 30% of the sale price, whichever is less. watch nowThe used vehicle credit applies to a broad selection of cars, she said. Those income limits are "much lower" than the one that applies to the $7,500 tax credit for new vehicles, however, said Katherine Breaks, a managing director in KPMG's tax credit and energy advisory services group. "If I don't have $4,000 of tax liability, what's the tax credit worth to me?

☆ The GOP’s Abortion Flop
▼ + stars: | 2023-04-07 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

☆ Premarket stocks: The US economy is unwell. April could be a cruel month
▼ + stars: | 2023-04-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —After months of a remarkably strong US labor market and economy, everything seems to be slowing down. The question is whether Friday’s monthly jobs report, easily the most anticipated piece of data out this week, will confirm the trend. The unflinching resilience of the US labor market is one of the greatest sources of tension in today’s economy. Over the past year, the Fed has raised interest rates from nearly zero to a range of 4.75% to 5% to cool the economy. A slowdown in the official US jobs report Friday could signal an economic sea change.

☆ Fact Check-US Treasury press release sanctioning Kenyan politicians is fake
▼ + stars: | 2023-04-05 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An image appearing to show a press release from the U.S. Department of the Treasury sanctioning four Kenyan politicians – Deputy President Rigathi Gachagua, Moses Kuria, Kimani Ichungwa and Ndindi Nyoro – because they are “linked to sponsored violence” is fabricated. No such release can be found on the Treasury’s website and a spokesperson for the Treasury told Reuters the image did not show an official press release. A spokesperson for the Treasury told Reuters in an email that the image did not show a press release they had issued. No such press release can be found on the Treasury’s website (here) (here). The U.S. Department of the Treasury did not issue a press release sanctioning these four Kenyan politicians.

☆ Tips for American expats from a financial advisor who helps clients move abroad
▼ + stars: | 2023-04-03 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

"There are a certain number of people who can work remotely and permanently," which has opened the doors to living abroad, said Boudreaux, who is a certified financial planner and a member of CNBC's Financial Advisor Council. Roughly 9 million U.S. citizens were living abroad in 2020, according to estimates from the U.S. Department of State. Income reporting requirements add complexityOne of the key things prospective American expats need to consider is the yearly tax filing requirements, Boudreaux said. While living abroad, you must pay annual U.S. income taxes on worldwide earnings, including your salary, business profits, investment income and more. The yearly tax reporting requirements have even led some expats to consider renouncing their U.S. citizenship, according to a 2022 survey from Greenback Expat Tax Services.

☆ Antigua wants to quickly auction off an 'abandoned' superyacht linked to a Russian oligarch after it ran up a $500,000 bill for fuel and food
▼ + stars: | 2023-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Antigua and Barbuda government has declared the Alfa Nero super yacht abandoned. Authorities intend to use the money to pay down a $500,000 fuel bill owed to the Antigua Yacht Club Marina. The authorities intend to use the yacht's sale proceeds to pay down a $500,000 debt it owes to the Antigua Yacht Club Marina for fuel, per Daily Observer. He added the Alfa Nero could also be uninsured and this could cause issues for the harbor. The US Department of the Treasury has linked the Alfa Nero super to Guryev, who the department said is a "close associate" of President Vladimir Putin.

☆ Indian police open investigation into London embassy protest - media
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, March 24 (Reuters) - Indian police have opened an investigation into a protest this week outside its High Commission in London, Reuters partner ANI reported on Friday, pursuing action on an incident that has raised tension in relations with Britain. Protesters with "Khalistan" banners took an Indian flag down from a first-floor balcony of the High Commission in the British capital on Sunday to denounce recent police action in India's Punjab state, British and Indian media reported. Khalistan is the name of an independent Sikh homeland that some members of that community aspire to, both at home in India and in countries where Sikhs have settled. British Foreign Secretary James Cleverly said acts of violence towards staff at the High Commission in London were unacceptable and British police were investigating. Police officials and the British embassy in New Delhi did not immediately respond to calls and messages seeking comment.

☆ Premarket stocks: Americans are going all-in on cash. That could spell more trouble
▼ + stars: | 2023-03-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

The goal of a money market fund is to provide investors with a relatively stable investment option that offers higher returns than traditional savings. What’s happening: Since the Fed began to raise interest rates a year ago, the amount of money in money market funds has increased by roughly $400 billion. Goldman Sachs economists wrote in a note on Thursday that Americans could sell as much as $1.1 trillion in stocks this year and put that money into credit and money market assets instead. Money market funds are deeply interconnected with the wider financial system, and often face the same risks as banks. The Federal Deposit Insurance Corporation, a US government agency that insures deposits in banks and savings associations, does not insure cash invested in money market funds.

Some banking groups have urged the Biden administration and the Federal Deposit Insurance Corp (FDIC) to temporarily guarantee all U.S. bank deposits, a move they say will help quell a crisis of confidence after the failure of Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O). "I have not considered or discussed anything having to do with blanket insurance or guarantees of deposits," she said. "The failure of a small bank, of a community bank, could likewise trigger a run on other banks," she said. "To the best of my knowledge, we've never seen deposits flee at the pace that they did from Silicon Valley Bank," Yellen said. Yellen said it was "not obvious" that banks would pass those costs on to bank customers.

☆ Yellen says US banks shoring up liquidity to guard against runs
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Evelyn HocksteinWASHINGTON, March 22 (Reuters) - U.S. Treasury Secretary Janet Yellen said that banks across the United States are worried about contagion and have been shoring up liquidity to protect themselves from runs prompted by the failures of Silicon Valley Bank and Signature Bank. Yellen told a Senate Appropriations subcommittee hearing that over the past two weeks, many mid-sized banks expressed "great concern" to the Treasury about their uninsured deposits. "Many of these banks felt very skittish about their potential to suffer runs as well," Yellen said. "We can see that banks across the country are shoring up their liquidity, they are very worried about contagion from the troubles of Silicon Valley Bank and Signature Bank. And the steps we took were designed to improve the confidence of all depositors that they're safe in banks."

☆ To stay or go? The dilemma Ukrainians near front face every day
▼ + stars: | 2023-03-21 | by ( Mike Collett-White | ) www.reuters.com time to read: +4 min

KALYNIVKA, Ukraine, March 21 (Reuters) - It was finally time for Vasyl Kurlyshchuk to leave. She was going to stay in the settlement and wanted to know if Kurlyshchuk was taking his solar powered battery with him. What is now ordinary for the hundreds who remain in Chasiv Yar out of a pre-war population of some 13,000 would be extraordinary elsewhere. "Vera was evacuated to Poltava but a lot of people have stayed," said the 67-year-old, pointing to pictures on her smartphone of her friend, who had left Chasiv Yar for a safer place. That meant three fewer familiar faces for Olena and her friends as they carried on in Chasiv Yar.

☆ Did ESG Help Sink SVB?
▼ + stars: | 2023-03-17 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

☆ Should you be worried about your money, your bank or the U.S. banking system? Experts weigh in
▼ + stars: | 2023-03-14 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

However, the unexpected shutdowns of Silicon Valley Bank and Signature Bank have many consumers concerned about their deposits, their bank and the U.S. banking system. Here, experts answer what a bank run is, how FDIC insurance works and whether your deposits are still secure. andresr | E+ | Getty ImagesThe short answer is "possibly," according to Stacy Francis, a certified financial planner and president and CEO of Francis Financial in New York. "This is happening, in part, because of the Federal Reserve's sharp rise in interest rates," Francis said. Further, "many banks are seeing large withdrawals from cash depositors who are looking [for higher rates] to make more money," Francis added.

☆ California Gov. Gavin Newsom failed to publicly disclose his SVB ties while lobbying for a bailout
▼ + stars: | 2023-03-14 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +4 min

Gavin Newsom reportedly had substantial personal ties to Silicon Valley Bank. Newsom has not discussed his personal ties to SVB publicly. It is unclear whether he disclosed them to the White House or Treasury during his contacts with the administration over the weekend. Click did not respond to detailed questions about the Intercept's reporting on Newsom's SVB ties. Spokespeople for the White House and California Partners Project did not immediately return Insider's requests for comment.

☆ Biden Interior approves controversial Alaska oil drilling project
▼ + stars: | 2023-03-13 | by ( Emma Newburger | ) www.cnbc.com time to read: +2 min

Climate activists gather to protest with demanding President Biden stop the Willow Project by unfurling a banner on the Lafayette Square in front of the White House on January 10, 2023 in Washington D.C. The Biden administration approved a major and controversial oil drilling plan in Alaska, known as Willow, just one day after unveiling protections for more than 16 million acres of land and water in the region. Environmental groups have long condemned the plan, arguing it undermines the administration's pledge to combat climate change and reduce greenhouse gas emissions. Prior to the president's decision, the Interior Department's Bureau of Land Management released an environmental analysis last month that proposed lowering the number of drilling sites from five to three under the project. The Interior said it had "substantial concerns" about Willow, including its direct and indirect emissions and its impact on local wildlife.

☆ Bank rescue buys stability at a high price
▼ + stars: | 2023-03-13 | by ( John Foley | ) www.reuters.com time to read: +4 min

Along the way, they also closed down another struggling lender, Signature Bank of New York. First, the FDIC will reimburse all of the two banks’ depositors, not just those whose balances are within the $250,000 guaranteed limit. In the event that the bank’s assets, after a sale, are below the value of the deposits, that cost will be spread among all FDIC-insured banks. Follow @johnsfoley on TwitterCONTEXT NEWSFinancial authorities teamed up on March 12 to protect the depositors of failed U.S. lender Silicon Valley Bank. The authorities also said that Signature Bank, a New York-based lender, was also closed on March 12.

☆ U.S.-sanctioned general to become public face of China's growing military
▼ + stars: | 2023-03-12 | by ( Greg Torode | ) www.reuters.com time to read: +4 min

In 2016, Li was named deputy commander of the PLA's then-new Strategic Support Force - an elite body tasked with accelerating the development of China's space and cyber warfare capabilities. He was then appointed head of the Equipment Development Department of the Central Military Commission (CMC), China's governing defence body, headed by President Xi Jinping. Some security scholars note the sanctions - while not a deal-breaker for future meetings - add a potential complication, and could provide China's military leadership with leverage. Li's term at the Central Military Commission has highlighted his ties to Xi, who has strengthened his grip across the military. Some scholars believe Li has close ties to Zhang Youxia, a close military ally of Xi, whom Li replaced as head of the department.

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