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☆ Republicans gear up for the coming battle over $5 trillion tax cut's costs
▼ + stars: | 2024-11-25 | by ( Emily Wilkins | ) www.cnbc.com time to read: +2 min

As Republicans on Capitol Hill lay the groundwork for extending the 2017 tax cuts, cracks are already emerging on one of the biggest questions: how to handle the cost. Extending the tax provisions is estimated to increase the deficit by $5 trillion, according to the nonpartisan Congressional Budget Office. Yet many lawmakers are quick to dismiss or explain away the number, arguing the tax cuts will ultimately help the economy and, subsequently, revenue for the government. Some top tax leaders, including Sen. Mike Crapo, R-Idaho, the incoming chair of the Senate Finance Committee, have downplayed the $5 trillion estimate, which assumes that the 2017 tax provisions set to expire at the end of 2025 have already done so. Yet a group of deficit hawks are worried about the ballooning deficit, and think any tax package needs to be fully offset.

Persons: Steve Scalise, doesn't, Sen, Mike Crapo, Crapo, we're Organizations: Capitol, CNBC, Senate Finance Committee, Fox Business Locations: Idaho

☆ Do You Use Online Betting Markets? Tell Us About It.
▼ + stars: | 2024-11-25 | by ( Emma Goldberg | More About Emma Goldberg | ) www.nytimes.com time to read: 1 min

After a Supreme Court case in 2018 opened the door to legal sports gambling, millions of Americans began using sports betting platforms like DraftKings and FanDuel. I am a features writer for The New York Times, and I am reporting on the experiences of people who use online betting platforms — whether as a source of income or recreationally. Did you place online bets this year? I will not publish anything before reaching out, hearing back and verifying the information you’ve provided. I will use your contact information only to follow up with you for reporting, and I will not share your contact information outside of our newsroom.

Organizations: The New York Times

☆ New York City's Meatpacking District will say goodbye to its last meatpacker — and a 60-story tower could be on its way
▼ + stars: | 2024-11-25 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +5 min

AdvertisementThe last meatpackers in NYC's Meatpacking District are getting ready to close shop. The era of New York City's Meatpacking District as a neighborhood where people actually pack meat is coming to an end. A section of the Meatpacking District in 1929. AdvertisementShoppers wait in line for a sample sale in the Meatpacking District in 2024. "It wasn't always a meatpacking district," Andrew Berman, the executive director at historic preservation group Village Preservation, told the AP.

Persons: NYC's, Eric Adams, there's, hasn't, State Sen, Brad Hoylman, didn't, John Jobbagy, Jobbagy, Julia Demaree Nikhinson Jobbagy, he's, Samantha Jones, It's, amNY, Andrew Berman, it's, Berman Organizations: New York City, Associated Press, . New York City Municipal Archives, AP, State, Village, Community, Gucci, Rolex, New York City Municipal Archives, Preservation Locations: NYC's Meatpacking, Greenwich Village, York, New York, Manhattan, Meatpacking, . New York City, Meatpacking District, City of New York, Budapest, New York City

☆ Rising air travel demand has created an opportunity in this corner of the bond market, says Nuveen
▼ + stars: | 2024-11-25 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

If they look beyond their travel plans, they may even spy an investment opportunity, according to Nuveen. The Transportation Security Administration is expecting one of the busiest Thanksgiving travel periods on record for the nation's airports. That is keeping pace with the increase in air travel demand in recent years. "So as travel increases, a lot of what's being financed is these amenities and lounges and better restrooms." What Nuveen looks for There are a number of airport revenue bonds within Nuveen's muni funds.

Persons: Daniel Close, Munis, John F Organizations: Transportation Security, TSA, American Municipal Bond Fund, Airports, AMT, Republican, AAA, LaGuardia, Kennedy, Dallas Fort Worth International Locations: White, Nuveen's, New York, Dallas

☆ A December rate cut suddenly looks shaky as the market weighs Trump implications
▼ + stars: | 2024-11-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

With uncertainty lingering over how President-elect Donald Trump's policy intentions could affect vital parts of the economy, December no longer looks like a done deal for an interest rate cut. Primarily, it was Trump's victory and the extent to which his policies will stimulate the economy and perhaps goose inflation. In a recent CNBC interview, Bessent advocated for a gradual implementation of tariffs and insisted that Trump has no desire to stoke inflation. A market rally Monday lost a little bit of its steam as well as investors continued to weigh the prospects for Fed policy. "It is really, really hard to argue the other side of tariffs will slow growth and raise inflation.

Persons: Donald Trump's, Charles Schwab, Kathy Jones, Jones, Liz Ann Sonders, Schwab, you've, Sonders, Trump, Scott Bessent, Bessent Organizations: Traders, Federal Reserve, Fed, CNBC, Treasury, Nasdaq

☆ Treasury yields fall as investors endorse Trump's Treasury secretary pick, await inflation data
▼ + stars: | 2024-11-25 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

U.S. Treasury yields were lower on Monday as investors weighed President-elect Donald Trump's Treasury secretary pick and eyed a key inflation reading due later in the week. Trump's choice of hedge fund executive Scott Bessent as Treasury secretary has calmed investors' nerves about the future of the U.S. economy. Bessent, the founder of Key Square Group, is expected to back the incoming president's economic goals including gradual tariffs and pro-business policies. However, as an old Wall Street hand and a fiscal conservative, investors believe Bessent will prioritize stability in the U.S. economy and markets. Also in focus this week are some key data points due ahead of a shortened trading week.

Persons: Donald Trump's, Scott Bessent, Kit Juckes, Trump, Bessent, Dow Jones Organizations: Treasury, U.S, Key Square, Societe Generale, CNBC, Federal, U.S . Federal Locations: U.S, U.S .

☆ Keke Palmer became a breadwinner by 15: My parents made $40,000 a year—I made that per show on Nickelodeon
▼ + stars: | 2024-11-25 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

Keke Palmer knew early on that she was the main breadwinner in her family. When she landed her own show, Nickelodeon's "True Jackson, VP" in 2008, Palmer realized she was out-earning her mom and dad. "My parents, at their best, made $40,000 a year," Palmer said during an appearance on Shannon Sharpe's "Club Shay Shay" this week. Even when her parents gave her sister a monthly allowance from the money she was making, Palmer explained that she was happy to share. My mom gave up everything so she could travel with me."

Persons: Keke Palmer, Jackson, Palmer, Shannon Sharpe's, Shay Shay Organizations: CNBC Locations: showbusiness

☆ Couple worth $1.5 million constantly argues about money—they could 'make an extra $10 million' and still fight, expert says
▼ + stars: | 2024-11-25 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

On his "Money for Couples" podcast, self-made millionaire and money expert Ramit Sethi often meets couples with varying levels of income and net worth who feel badly about money. Many of the couples think they just need more money to feel better, but that's often not the case, Sethi tells them. For many people, how you feel about money is uncorrelated to the amount in your bank account. The couple earns a combined $365,000 a year and have a $1.5 million net worth, yet they constantly disagree about financial decisions and can't stop worrying about money. Nathan and Linda know their numbers, maybe even too well.

Persons: Ramit Sethi, that's, Sethi, Nathan, Linda, he's, it's Locations: Linda

☆ Zoom surpasses expectations as it calls for another quarter of single-digit growth
▼ + stars: | 2024-11-25 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Eric Yuan, founder and CEO of Zoom Video Communications, speaks at Concordia Annual Summit in New York on Sept. 25, 2024. The company reported 192,400 enterprise customers in the quarter, up 800 from the previous quarter. In August, Zoom said it was looking for $5.29 to $5.32 per share and revenue between $4.630 billion and $4.640 billion. During the quarter, Zoom said in the first half of 2025 it will release a premium Custom AI Companion that could connect to corporate glossaries and services such as ServiceNow and Workday . The company also said its corporate name is changing from Zoom Video Communications to Zoom Communications Inc.Executives will discuss the results with analysts on a conference call starting at 5 p.m.

Persons: Eric Yuan, Covid, LSEG, Zoom, Chris Grisanti Organizations: Zoom Video Communications, Concordia, Zoom Communications Inc Locations: New York

Many families have been effectively cutting a second rent check to send their kids to day care, according to new data from the Department of Labor. On average, families spent anywhere from $6,552 to as much as $15,600 on full-day care per child in 2022, the latest year with available data. While incomes also range widely throughout the country, households typically funnel between about 9% and 16% of their annual income on day care per child. But while child care costs help explain Americans’ economic dissatisfaction, an NBC News analysis of the Labor Department and election result data also hints at the limits of the issue politically. The most forbidding child care markets in 2022 voted two years later for Trump by higher margins than the nation overall, but so did many of the areas where child care was more affordable.

Persons: It’s, Gretchen Livingston, ”, Donald Trump Organizations: Department of Labor, U.S . Department of Labor, Bureau, Labor Department’s Women’s, NBC, Labor Department, NBC News, Trump Locations: U.S

You may not know it by looking at sticker prices in grocery aisles, but Thanksgiving dinner is more affordable than it has been in years. “If your dollar had the same overall purchasing power as a consumer in 1984 … this would be the least expensive Thanksgiving meal in the 39-year history of the AFBF Thanksgiving survey, other than the outlier of 2020,” the authors wrote. Target is offering a $20 Thanksgiving meal for four, including a small turkey, canned vegetables and stovetop stuffing mix. Walmart is promoting an “inflation-free Thanksgiving” meal of 29 items that can serve eight people for $56. “Don’t be afraid to check out multiple retailers.”Some Thanksgiving meal packages offer more ingredients, but that could mean preparing more dishes from scratch.

Persons: TJ Maxx, ”, Robin Wenzel, “ Don’t, ” Wenzel Organizations: American Farm Bureau Federation, ”, Walmart, TJ, Target, Aldi, Food Institute, Wells Fargo’s, Consumer Locations: U.S, ” Turkey, Wells, West

☆ Millennials say they plan to spend big this holiday season — 'I see a lot of optimism,' expert says
▼ + stars: | 2024-11-24 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"I see a lot of optimism going into the holiday season," said Charlie Wise, TransUnion's senior vice president and head of global research and consulting. More from Personal Finance:Thanksgiving meals are expected to be cheaper in 2024How Trump's win could change your health careRemote work is helping Americans take longer trips"It's clear that millennials will play the largest role this holiday shopping season with the greatest expected spend," Wise said. Holiday spending between Nov. 1 and Dec. 31 is forecast to increase to a record total of $979.5 billion to $989 billion, according to the National Retail Federation. Even as credit card debt tops $1.17 trillion, holiday shoppers expect to spend, on average, $1,778, up 8% compared with last year, Deloitte's holiday retail survey found. Meanwhile, 28% of holiday shoppers surveyed in September said they still had not paid off the gifts they purchased for their loved ones last year, according to a holiday spending report by NerdWallet, which polled more than 1,700 adults.

Persons: TransUnion, Charlie Wise, TransUnion's, Wise Organizations: Finance, National Retail Federation, NerdWallet

☆ Rev. William Barber offers a blueprint for Democrats’ revival in Trump’s second term
▼ + stars: | 2024-11-24 | by ( John Blake | ) edition.cnn.com time to read: +12 min

William J. Barber II has long been one of America’s most persistent and eloquent spokespersons for poor and working-class Americans. Barber is the recipient of a MacArthur “genius grant” and helps lead the Poor People’s Campaign, which seeks national solutions to ongoing poverty. Barber also done something else: He’s shown Democrats how they can win political victories in red states. He once said, “Racism may target Black people, but it damns a democracy, and it damns humanity.”CNN spoke with Barber about the country’s future in Trump’s impending second term. Critics say Democrats are elitist and look down on working-class people.

Persons: Joe Rogan’s, Kamala Harris, Donald Trump, Harris ’, Trump’s, Trump, Biden’s, William J, Barber, MacArthur, Harris, ”, it’s, I’m, Andrew Harnik, there’s, we’ve, Scott Olson, —, there’d, JD Vance, We’ve, Hillary Clinton, MAGA, Linda Ronstadt, Alex Brandon, It’s, Woodrow Wilson, Wilson, Plessy, Ferguson, Jim Crow, William Barber, Jemal Countess, wasn’t, didn’t, John Blake Organizations: CNN, MLK, Poor, Center, Public Theology, Yale Divinity School, Republican, GOP, Democratic, ” CNN, Democratic Party, Howard University, Getty, Trump, Linda Ronstadt Music, AP, Democrat, Klux Klan, Supreme Locations: America, North Carolina, New York City, Washington, Chicago, Appalachia, Alabama, There’s, Tucson , Arizona, That’s

☆ 6 things we’re watching in the stock market in the holiday-shortened trading week ahead
▼ + stars: | 2024-11-24 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

While the magnitude of the guidance beat was perhaps not enough to satiate the most demanding of bulls, the stock was flat on the week. Our other cybersecurity stock, CrowdStrike , is one of the main events of this holiday-shortened week on Wall Street. We added to our CrowdStrike exposure last week after the stock came under pressure due to increased geopolitical tensions . ET: Pending Home Sales Thursday, Nov. 28 Stock market closed for Thanksgiving holiday Friday, Nov. 29 Stock market closes early at 1 p.m. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Donald Trump's, HomeGoods, Tuesday's, Trump, We'll, LSEG, CrowdStrike, Dow Jones, —, Jim Cramer's, Jim Cramer, Jim Organizations: Nvidia, Dow Jones, Nasdaq, Dow, Companies, Palo Alto Networks, Federal, Home, Palo, Body, Fluence Energy, Agilent Tech, Abercrombie, Fitch, DICK'S Sporting, Dell Technologies, Autodesk, HP, Urban Outfitters, Nordstrom, Jim Cramer's Charitable, CNBC, The New York Stock Exchange, NYSE Locations: Maxx, U.S, Burlington

☆ Uruguay’s once-dull election has become a dead heat in the presidential runoff
▼ + stars: | 2024-11-24 | by ( Associated Press | ) edition.cnn.com time to read: +6 min

Orsi’s Broad Front took 44% of the vote while Delgado’s National Party won 27% in the first round of voting Oct. 27. Most polls have shown a virtual tie between Delgado and Orsi, with nearly 10% of Uruguayan voters undecided even at this late stage. Uruguay's presidential candidate for the Republican Coalition, Alvaro Delgado, waves to supporters outside a polling station after voting during the presidential runoff election in Montevideo on November 24. Delgado served most recently as Secretary of the Presidency for Lacalle Pou and promises to pursue his predecessor’s pro-business policies. Uruguay's presidential candidate for the Frente Amplio party, Yamandu Orsi, greets supporters after voting during the presidential runoff election in Canelones, Uruguay, on November 24.

Persons: — Uruguayans, Álvaro Delgado, Luis Lacalle Pou, Colorado Party –, Delgado, Kamala, ”, Nicolás Saldías, Alvaro Delgado, Dante Fernandez, Orsi, Lacalle Pou –, Lacalle, –, Lacalle Pou, Yamandu Orsi, Eitan Abramovich, José “ Pepe ” Mujica, “, ” Delgado, Uruguayans Organizations: Delgado’s National Party, –, Colorado Party, Congress, Frente, Trump, Intelligence Unit, ”, Republican Coalition, AFP, Getty, National Party, International Monetary Fund, Marxist Locations: MONTEVIDEO, Uruguay, American, America, Caribbean, London, Montevideo, China, Mercosur, South, Canelones, Latin America, ”, Beijing, Pocitos

Nearly 50,000 people from 200 countries — including, for the first time, the Taliban rulers of Afghanistan — were in Azerbaijan for this year’s United Nations Climate Change Conference, with the goal of reaching a critical deal on climate finance. Participating world leaders Tuesday at the United Nations Climate Change Conference. “It is really disappointing to see that world leaders haven’t shown up in force in solidarity,” she added. While Trump “may put climate action on the back burner,” U.S. climate envoy John Podesta said, “the work to contain climate change is going to continue.”U.S. Energy Secretary Jennifer Granholm said states, cities, nongovernmental organizations and companies are still “all-in” on pursuing climate goals. British Prime Minister Keir Starmer speaks Tuesday on day two of the COP29 climate conference.

Persons: Donald Trump, Alexander Nemenov, General Ban, ”, Ruth Townend, COP29, Joe Biden, Xi Jinping, Keir Starmer, Emmanuel Macron, Olaf Scholz, Justin Trudeau, Shigeru Ishiba, ” Townend, haven’t, Matiul Haq Khalis, Laurent Thomet, Trump, John Podesta, Jennifer Granholm, ” Granholm, Darren Woods, Who, Ilham Aliyev, Carl Court, Getty Images Aliyev, Adel, Lord Adair Turner, Britain, “, James Marape, Marape, Asadullah Jawid Organizations: Change, United Nations, Getty, World Meteorological Organization, House, Pacific, British, Seven, Canadian, Japanese, Environmental Protection Agency, Getty Images, U.S . Energy, Infrastructure Law, NBC, Exxon, Independent, Climate Finance, U.S, Energy, Commission, Union, Baku, American University of Locations: BAKU, Azerbaijan, Afghanistan, United States, Paris, AFP, London, Baku, U.S, ”, Saudi, Adel Al, Saudi Arabia, Saharan Africa, China, Papua New Guinea, American University of Afghanistan

Dentists began giving kids fluoride treatments. About 70% of community water systems in Florida receive fluoridated water, according to the surgeon general’s release. Parents said their kids’ teeth were full of cavities despite drinking and brushing regularly with what they thought for years was fluoridated water. Adding fluoride to water systems “mitigates the impact of disparities in access to dental care,” said Jetelina, the epidemiologist. “This is one of the beauties of public health — a mainly invisible population intervention, helping the most vulnerable.”Still, the scrutiny continues.

Persons: Joseph Ladapo, Ladapo, ”, Bruce Lanphear, Katelyn, He’s, Robert F, Kennedy Jr, Donald Trump’s, ” Robert Corp, Jetelina Organizations: American Dental Association, American Academy of Pediatrics, Centers for Disease Control, Simon Fraser University, Pediatrics, NBC, WGRZ, ‘, National Institute of Dental, Craniofacial Research, National Institutes of Health, U.S . Environmental, Agency Locations: Canada, Florida, U.S, Buffalo , New York, Buffalo, Abilene , Kansas, McVille, North Dakota, California

☆ 12 tactics America's wealthiest use to save big on taxes, from putting mansions in trusts to stashing fortunes for a 1,000 years
▼ + stars: | 2024-11-23 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +12 min

Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. AdvertisementThe heirs don't own the trust assets but rather have lifetime rights to the trust's income and real estate. Any payout is also protected from estate taxes, even if the insured's estate and death benefit exceed the exemption. AdvertisementThis tactic can also be used to save on estate taxes by ultra-rich entrepreneurs who have already used their exemption but have less-wealthy parents who haven't. When the children inherit the assets, the federal estate tax doesn't kick in as long as the grandparents' estate does not exceed $27.22 million.

Persons: Trump, Robert Strauss, Weinstock Manion, Uncle Sam, Wrigley, Jeff Bezos, Jackie O, Edward Renn, Tyler Le, remarries, Jenny Chang, Rodriguez, Sam Walton, haven't Organizations: Republican, Getty, IRS, Federal Reserve, Walmart Locations: Cayman Islands, Bermuda, Washington, Florida, Wyoming, Plenty

☆ Republicans Ponder: What if the Trump Tax Cuts Cost Nothing?
▼ + stars: | 2024-11-23 | by ( Andrew Duehren | ) www.nytimes.com time to read: +1 min

Forcing the issue is the end of many of the tax cuts Republicans passed in 2017. Republicans want to protect their handiwork and extend the tax cuts before they lapse. By conventional budget rules in Washington, doing so would amount to a tax cut — and an expensive one at that. Republicans are struggling to come up with other tax increases or spending cuts to cover that cost. So maybe it is not a surprise that some of them are starting to advance an alternative theory of the case: that continuing existing tax cuts actually costs nothing.

Organizations: Republicans, Capitol, Congressional, Office Locations: Washington

☆ The most you should pay for housing if you earn $80,000 a year
▼ + stars: | 2024-11-23 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

For many Americans, housing costs aren't just another expense — they shape how the rest of the budget comes together. Yet figuring out how much you can reasonably afford to spend on housing has become increasingly complicated in recent years, as shelter costs continue to rise. If you earn $80,000 a year — the median household income — a decades-old rule of thumb suggests spending no more than 30% of your income on housing, or about $2,000 per month. But for many earners, that's far from realistic, especially in large cities where housing prices have surged the most. As a result, nearly a third of American households are now considered "cost burdened," meaning they spend more than 30% of their income on housing, according to the most recent U.S. Census data.

Locations: U.S

☆ These key 401(k) plan changes are coming in 2025. Here's what savers need to know
▼ + stars: | 2024-11-23 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Enacted by Congress in 2022, "Secure 2.0" ushered in sweeping changes to the U.S. retirement system, including several updates to 401(k) plans. 'Exciting change' for catch-up contributionsFor 2025, employees can defer $23,500 into 401(k) plans, up from $23,000 in 2024. Shorter wait for part-time workersSecure 2.0 has also boosted access to 401(k) and 403(b) plans for certain part-time workers. Starting in 2024, employers were required to extend plan access to part-time employees who worked at least 500 hours annually for three consecutive years. "That's a very good thing for long-term part-time workers" who may have struggled to qualify for 401(k) eligibility, said Stinnett.

Persons: Tang Ming Tung, Dave Stinnett, Jamie Bosse, Dave Stinnett Vanguard's, Alicia Munnell Organizations: Getty, CNBC, Workers, CGN Advisors, America, U.S . Bureau of Labor Statistics, Center for Retirement Research, Boston College Locations: Manhattan , Kansas, That's

☆ 1,200 baby boomers told us what they regret about investing for retirement
▼ + stars: | 2024-11-23 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Millions of Americans facing retirement are worried they won't be financially prepared — or fear that they'll have to work forever. Others said they took Social Security too early or retired without a long-term financial plan. Some older Americans wish they'd had more investing knowledgeA major theme among BI's survey respondents was that they lacked knowledge about investing. She also didn't realize that because she has a pension in addition to receiving Social Security when she retires, she would be affected by a little-known Social Security provision that would lower her monthly check. Between her pension of $713 monthly and Social Security, which she expects will be between $1,200 and $1,400 monthly, she'll have just enough to cover her rent.

Persons: they'd, boomer, Gary Lee Hayes, he'd, Hayes, Charles Schwab, Nancy Seeger, Seeger, she's, I've, Nevenka Vrdoljak, Vrdoljak, PJ White, White, She's, hasn't Organizations: Social Security, Navy, Verizon, Vanguard, Transamerica Institute, Medicare, Bank, America's, Bank of America, Merrill, Bank of America Private Bank Locations: California, Cleveland, San Diego

☆ Cher came back from owing $270,000 in back taxes, only to wind up broke again. 6 points about money from her new memoir.
▼ + stars: | 2024-11-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementCher came back from owing $270,000 in back taxes only to wind up broke again years later. We owe the IRS $270,000 in back taxes and we don't have the money," Bono said to Cher in the late 1960s, in her telling. Cher's divorce from Sonny Bono was finalized in 1975. Cher writes in her memoir that "the contracts he'd had me sign were secretly designed to strip me of my income and the rights to my own career." Advertisement"Mom's store attracted a lot of press attention, but it was never solvent and soon began to lose money," Cher writes.

Persons: Cher, overspent, Sonny Bono, I'd, We're, Bono, Getty Images Cher, she'd, you've, Ed Sullivan, who'd, David Geffen, Barry King, Geffen, Sonny, he'd, overextending, John Marshall Organizations: CBS, Getty Images, Geffen Locations: Los Angeles, Brentwood , California

WASHINGTON — The Supreme Court could further weaken the power of federal agencies by agreeing on Friday to hear a dispute over a Federal Communications Commission program that requires companies to subsidize telecommunications services in underserved areas. The FCC case raises two interlinked issues, one of which concerns the broad question of whether Congress exceeded its powers. The FCC turned to the Supreme Court after the New Orleans-based 5th U.S. The Supreme Court earlier this year issued a series of rulings against federal agencies, including one overturning a 40-year-old precedent that gave leeway to agencies to interpret laws written ambiguously. Three of them serve on the Supreme Court.

Persons: WASHINGTON —, Andrew Oldham, Donald Trump's Organizations: Federal Communications Commission, FCC, Consumers, Research, Universal Service Fund, Universal Service Administrative Company, New, Circuit, Conservative, Oldham, Trump Locations: New Orleans

☆ University of Texas System announces free tuition for students whose families earn $100K or less
▼ + stars: | 2024-11-22 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

The University of Texas System announced Wednesday it will expand its free tuition program for lower-income families to include all families making $100,000 or less a year. The free tuition for undergraduate students will begin in the fall of 2025 and will cover tuition and fees. “The combination of these actions today will ensure that average student debt at UT academic institutions continues to decline. UT System Chancellor James B. Milliken said in a statement: “Across UT institutions, enrollment is growing, and student debt is declining, indicating success in both access and affordability. Further, families with an income below $100,000 will have tuition as well as housing, dining fees and allowances for books and personal expenses covered.

Persons: James B, Milliken, ”, Sally Kornbluth, Don’t Organizations: University of Texas System, Regents, UT, UT Austin, Texas, Massachusetts Institute of Technology, MIT Locations: U.S

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