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☆ Now's the time for Elon Musk to reveal his Tesla rescue plan — if he has one
▼ + stars: | 2024-04-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +1 min

We're about to find out if Elon Musk has a plan to save Tesla. The EV maker is expected to report a 40% profit drop on Tuesday after a bruising year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIf Elon Musk has a secret rescue plan for Tesla hidden away, now would be a great time to show it to the world. Musk's own fortune has suffered a $61 billion drop too, though he's still the world's fourth-richest person.

Persons: Elon Musk, Tesla, —, he's Organizations: Service, Tesla

☆ Los Angeles is using AI in a pilot program to try to predict homelessness and allocate aid
▼ + stars: | 2024-04-19 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

In December of last year, single mom Courtney Peterson was laid off from her job working for a now-shuttered inpatient transitional living program. Peterson said she began to research potential avenues for help, immediately concerned about making January's rent. "I started to reach out to local churches or places that said they offered rent assistance," Peterson told CNBC. Instead of an eviction notice, Peterson received a letter from Homelessness Prevention Unit within the Los Angeles County Department of Health Services, offering a lifeline. The pilot program uses predictive artificial intelligence to identify individuals and families at risk of becoming homeless, offering aid to help them stabilize and remain housed.

Persons: Courtney Peterson, Peterson, I'd, Dana Vanderford, they've, Vanderford, we've, Amber Lung, Lung Organizations: CNBC, Prevention, Angeles County Department of Health Services, U.S Department of Housing, Urban, county's Department of Health Services, American Locations: Van Nuys, Los Angeles, California

☆ AI is threatening Americans’ jobs. Could guaranteed income provide a safety net?
▼ + stars: | 2024-04-13 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +12 min

That idea of guaranteed income is receiving renewed interest as AI becomes an increasing threat to Americans’ livelihoods. As more Americans’ jobs are increasingly at risk due to the threat of AI, Tubbs and other proponents of guaranteed income say this could be one solution to help provide a safety net and cushion the expected blow AI will have on the labor market. “Then, when we have to deal with that job displacement, we’re better positioned to do so.”Silicon Valley’s infatuation with guaranteed incomeThe idea of a guaranteed income is not new. AFP/Getty ImagesDecades after King’s death, the idea of guaranteed income went on to see a resurgence of support emanating out of Silicon Valley. Other tech industry tycoons, including Twitter co-founder Jack Dorsey, have also thrown immense financial support behind guaranteed income programs.

Persons: CNN — Michael Tubbs, Tubbs, ”, “, ” Michael Tubbs, Nick Otto, ” Tubbs, Nathan Frandino, Let’s, Martin Luther King, Jr, I’m, ” King, King, Elon Musk, Mark Zuckerberg, Sam Altman —, Musk, Rishi Sunak, Zuckerberg, ” Altman, Altman, Sam Altman, Justin Sullivan, Elizabeth Rhodes, Jack Dorsey, Dorsey, Ken Paxton, ” Paxton, overreach, ‘ It’s, ’ Tomas Vargas Jr, Vargas, I’ve, that’s, ” Tomas Vargas Jr, Tomas Vargas Jr, ” Vargas Organizations: CNN, Getty, Global, Monetary Fund, Reuters, Stockton, Civil Rights, Washington DC, Elon, “, UK, Harvard, Facebook, YCombinator, Twitter, UPS Locations: Stockton , California, Silicon Valley, Big, America, Stockton, AFP, San Joaquin, U.S, Washington, Alaska, YCombinator, San Francisco , California, United States, Texas, Harris, Harris County

☆ What Biden's new student loan forgiveness plan means for your taxes
▼ + stars: | 2024-04-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

US President Joe Biden speaks about student loan relief at Madison College in Madison, Wisconsin, on April 8, 2024. Andrew Caballero-reynolds | AFP | Getty ImagesTax treatment of student loan forgivenessStudent loan forgiveness is federally tax-free through 2025 — thanks to a provision from the American Rescue Plan Act of 2021. But the future taxability of student loan forgiveness is unclear. Many states have conformed to federal rules on the taxability of student loan forgiveness. Depending on your situation, higher income from taxable student loan forgiveness could cause "a chain of [tax] consequences," such as phaseouts for other tax breaks, Lucas said.

Persons: Joe Biden, Andrew Caballero, reynolds, Biden, Tommy Lucas, Moisand Fitzgerald Tamayo, Lucas, that's, Ethan Miller, isn't, Miller Organizations: Madison College, AFP, Getty, American, Planning, Progress, D.C Locations: Madison , Wisconsin, Orlando , Florida, Washington

☆ Here's how guaranteed basic-income programs get their funding
▼ + stars: | 2024-04-09 | by ( Allie Kelly | Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Cities like San Antonio, Austin, Denver, Boston, and Minneapolis have turned to basic-income pilot programs to explore ways to reduce those poverty levels. Republicans in Texas, Arizona, Iowa, and South Dakota are making efforts to ban GBI programs at the municipal and state level. AdvertisementStates and cities sometimes fund basic-income programsMany basic-income programs receive funding directly from state and local governments. Nonprofits and philanthropy play a key role in basic-income fundingOther basic-income programs are organized through a nonprofit, or receive funding from foundations and private donors. Along with funding cash payments, the Economic Security Project said that philanthropic donations can help a GBI programs pay for income policy research.

Persons: —, Monique Gonzalez, John Gillette, Flint, Joe Biden, Jack Dorsey, UpTogether Organizations: Service, Economic Security, Business, SNAP, Republicans, BI, American, ARPA, Chicago's Department of Family, Support Services, Mayors, Georgia Resilience, GRO Fund, Colorado Trust Locations: Cities, San Antonio, Austin, Denver, Boston, Minneapolis, Texas , Arizona , Iowa, South Dakota, Arizona, California, Los Angeles, San Francisco, Sacramento, Michigan, Massachusetts, Texas, Chicago, Somerville , Massachusetts, GBI, Harris, Houston, Georgia, Atlanta, Colorado

☆ The Jamie Dimon manifesto
▼ + stars: | 2024-04-09 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

The 2023 shareholder letter from JPMorgan Chase CEO Jamie Dimon is chock full of policy ideas. Jamie Dimon, the billionaire CEO of JPMorgan Chase, outlined some of the biggest issues facing the company, the country, and the world in his 2023 annual shareholder letter. But he says that the US needs to flex its other muscles of power — economic policy, diplomacy, and intelligence — beyond military strength. Dimon points to the growth in wage inequality, saying that "wrong" policy falls disproportionately on the backs of lower-earning Americans. Dimon previously said that taxes on the wealthy could help offset the costs of bolstering the EITC.

Persons: Jamie Dimon, —, JPMorgan Chase, who's, Dimon, Oppenheimer, Donald Trump Organizations: JPMorgan Chase, Service, JPMorgan, US, Ukraine, Woods, Monetary Fund, American Locations: Ukraine, China

☆ Texas AG sues county over Houston-area guaranteed income program giving participants $500 a month no strings attached
▼ + stars: | 2024-04-09 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

Read previewThe Texas Attorney General's office sued Harris County, which contains Houston, over its new guaranteed income pilot that would give nearly 2,000 residents $500 a month for 18 months with no strings attached. The state is seeking to block Harris County from giving its first payments to participants, which are slated to start in April. In response, Harris County Attorney Christian D. Menefee said that the lawsuit is "nothing more than another attack" on the county government. The Austin Guaranteed Income Pilot has distributed $1,000 a month to 135 low-income families, who reported using their money for housing, food, and other daily costs. Republican lawmakers are trying to ban guaranteed income programs in states such as Arizona, Iowa, South Dakota, and Wisconsin.

Persons: —, Ken Paxton, Harris, Harris County Attorney Christian D, Menefee, Dustin Palmer, Paxton, Sen, Paul Bettencourt Organizations: Service, Texas, Business, American, Harris County Attorney, Republican, Austin Locations: Harris, Houston, Texas, Harris County, Austin, Arizona , Iowa, South Dakota, Wisconsin

☆ Support like child tax credits and basic income reduces child abuse, researchers found
▼ + stars: | 2024-04-05 | by ( Allie Kelly | ) www.businessinsider.com time to read: +6 min

AdvertisementCities that offer financial support to low-income families could see a decline in child abuse rates, researchers say. Welfare referrals can stem from suspected physical harm of a child, sexual abuse of a child, or situations where a child isn't given basic necessities. Economic stress creates risk factors for abuseDarwiche is a pediatrician at the Children's Hospital of Philadelphia and specializes in cases of child abuse. Financial safety nets could reduce child neglectDarwiche called income support a prevention strategy for child abuse. Child tax credits, similarly, allow some families to rise out of poverty by offering ongoing financial relief to adults with dependents.

Persons: —, Dr, Sabrina Darwiche, Darwiche, hospitalizations, Zoe Bouchelle, Bouchelle Organizations: Service, Children's Hospital, Philadelphia's, Children's Hospital of Philadelphia, Financial, SNAP, Denver, Biden Administration, ARPA, Denver Health, Children's Locations: America, San Antonio, Austin

☆ Over 82,000 Houston-area residents applied to a Texas guaranteed income program giving $500 a month. Fewer than 2,000 made it in.
▼ + stars: | 2024-04-03 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Just over 2% of applicants to a Houston-area guaranteed income program were accepted — a lower acceptance rate than Harvard or Yale. Starting this month, 1,928 families will receive $500 a month, no strings attached, through Uplift Harris, a guaranteed income program in the Texas county that includes Houston. A majority of participants selected live in high-poverty ZIP codes and have a household income below 200% of the federal poverty line. Some participants were selected through the county's Accessing Coordinated Care and Empowering Self Sufficiency program which helps vulnerable residents improve outcomes. The pilot has been met with opposition from politicians including Texas State Sen. Paul Bettencourt, who in January sent a letter to the state attorney general concerning whether counties can legally enact guaranteed income programs.

Persons: Dustin Palmer, AidKit, Palmer, GiveDirectly, We've, Texas State Sen, Paul Bettencourt, Bettencourt, I've, it's Organizations: Service, Harvard, Yale, Business, American, SNAP, Texas State, Houston Public Media, Austin Locations: Houston, Uplift Harris, Texas, Harris, Harris County, West Harris County

☆ A Massachusetts city is giving families at risk of losing their homes $750 a month, no strings attached
▼ + stars: | 2024-04-02 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Read previewA Massachusetts city is giving low-income families $750 a month, no strings attached. The guaranteed basic income program will focus on residents who are in danger of losing their homes. The Somerville GBI Pilot will serve about 200 low-income families currently experiencing housing insecurity. Related stories"My life was always just a couple hundred dollars short," a participant in San Antonio's income program told BI. St. Louis, Missouri recently distributed $500 monthly payments to low-income families, and Flint, Michigan is offering funds to new mothers.

Persons: —, Boston —, Somerville, Katjana Ballantyne, Ballantyne, Joe Biden's, hasn't, John Gillette Organizations: Service, Somerville, Business, Greater Boston Area, Boston, ARPA, The University of Massachusetts, Republican Locations: Massachusetts, —, Boston, San Antonio, Austin, Minneapolis, Durham , North Carolina, Denver, Antonio's, City, Somerville, Greater Boston, Arizona , South Dakota , Iowa, Texas, Arizona, Louis , Missouri, Flint , Michigan, Atlanta

☆ How the businessman who blew up MoviePass tried to create a 'TikTok killer' and cost investors millions
▼ + stars: | 2024-04-01 | by ( Ashley Rodriguez | Jason Guerrasio | ) www.businessinsider.com time to read: +22 min

At Vinco, Farnsworth employed several of the same tactics that he had at MoviePass and at his earlier ventures. "Ted took these press releases and really treated them like they were works of art for him," Matt Argall, a former advisor to Farnsworth, told BI. Hudson Bay has not been served the lawsuit as of the publication of this story. "Hudson Bay's investment in Vinco Ventures was a standard, fixed price convertible loan of which millions remain unpaid," Hudson Bay told BI in a statement. "If served, Hudson Bay will seek to have these baseless, factually flawed and frivolous claims, which have been repeatedly dismissed in other proceedings against other parties, dismissed expeditiously."

Persons: MoviePass, Ted Farnsworth, Maria Bartiromo, he'd, Farnsworth, Jaeson Ma, Ted Farnsworth playbook, Ted, Barnum, John Fichthorn, I've, Shadwrick Vick, Rudy, Vick, Roderick Vanderbilt, who's, hocking, La Toya Jackson, Helios, Matheson, Brian Quinn, Farnsworth's, Michael Hartstein, Vinco, Matt Argall, Mitch Lowe, Reuters Farnsworth, David, Goliath, TikTok, We're, Argall, Elton John, Jamie McCarthy, Lomotif, Lil Nas X, Snoop Dogg, Grimes, Zash, Allan Stern, Get2it, Stern, Robert N, Scola Jr, Scola, he's, —, Lowe, Getty, Dave Kotinsky, Stringer Vinco, expeditiously, Farnsworth —, Vanderbilt, Jesse Law, Katherine Long Organizations: Fox Business, Hollywood, Business, Zash Global Media, Entertainment, Vinco Ventures, Fox, Hudson Bay, BI, Helios, Matheson, Matheson Analytics, Boston College Law School, Palladium Capital Group, Vinco, BHP Capital, Armistice, CVI Investments, National Enquirer, Reuters, AMC Theatres, AMC, Gemini Valuation, Hudson, Eightco Holdings, Elton John AIDS Foundation, 91st, EDC, Tampa Marriott, SEC, Publishing, National Examiner, Globe, The New York Times, Southern, Southern District of, Bloomberg, Bay, Vanderbilt, Federal Bureau of Investigation Locations: Hudson, Vinco, Zash, Hudson Bay, China, Syracuse , New York, Lomotif, Syracuse, West Hollywood , California, Vegas, Tampa, Argall, Boston, India, The, Miami, MoviePass, Southern District, Southern District of Florida, New York

☆ Biden and Harris team up for a rare joint appearance in North Carolina to take on GOP over health care
▼ + stars: | 2024-03-26 | by ( Arlette Saenz | Tami Luhby | ) edition.cnn.com time to read: +10 min

It’s taking place on the heels of a campaign push slamming Trump for threatening to repeal the Affordable Care Act if he’s elected to a second term. Dunn argued the GOP plan shows “the Affordable Care Act is still very much under attack by Republican officials.”In contrast, Biden and Harris are expected to highlight the success of the Affordable Care Act and discuss efforts to expand access to health care and lower prescription drugs costs. Biden’s team also hopes the popularity of the Affordable Care Act and proposals to lower health care and prescription drug costs will resonate with voters at the ballot box. More than 45 million people in total have gained coverage through the Affordable Care Act, according to the Biden administration. Roy Cooper had advocated for the Affordable Care Act provision for years, finally convincing the Republican-led legislature to drop its long-standing opposition.

Persons: Joe Biden, Kamala Harris, Donald Trump, mifepristone, Tuesday’s, It’s, Trump, “, Biden, Harris, ”, Anita Dunn, he’s, Dunn, Roy Cooper, Josh Stein, Mark Robinson, Cooper Organizations: Washington CNN, Raleigh, Democratic, Trump, Marist, Union, Republican, Affordable, White, What’s, American, Children’s Health Insurance, Medicare enrollees, Medicare, Medicaid, Democratic Gov, GOP, Senate, Gov Locations: North Carolina, Pennsylvania, Georgia , Wisconsin , Michigan, Nevada, Arizona, New Hampshire, Texas, Southern, Georgia, South Dakota, Florida, Kansas, Mississippi

☆ Treasury chief Yellen defends Biden budget against Republican senators' fears of tax increases
▼ + stars: | 2024-03-21 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Provisions of the TCJA — a landmark tax law proposed by the Trump administration and passed by Congress in 2017 — that are set to expire in 2025 include the child tax credit. An additional "other dependent credit" offers a tax credit of $500 to people with less than $400,000 in income who have qualified dependents who are ineligible for the child tax credit. Biden's budget will restore the expanded child tax credit, the White House has said. "Would you agree that if the TCJA child tax credit provisions are not extended, this would also result in a tax hike for Americans making under $400,000?" The budget would impose a minimum 25% tax rate on the unrealized income of the very wealthiest households and raise the IRA's corporate alternative minimum tax for billion-dollar companies from 15% to 21%, while increasing the larger corporate tax rate to 28%.

Persons: Janet Yellen, Joe Biden's, Biden, Sen, Steve Daines, Yellen, Daines, Trump, Mike Crapo, pare Organizations: Treasury, Capitol, WASHINGTON —, Congress, White, Child Tax, Rescue, National Conference of State Legislatures, . Census, House Republicans, Lawmakers, Department of Homeland Security Locations: Washington , U.S, Idaho

☆ President Biden's new budget wants to bring back the child tax credit and make sure Americans don't face Social Security cuts — all while taxing billionaires and big companies more
▼ + stars: | 2024-03-11 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The budget seeks to restore the expanded Child Tax Credit and keep Social Security benefits intact. The budget also proposes a tax increase on billionaires, companies, and firms giving executives big paydays. The proposal comes after a tax bill that would partially expand the Child Tax Credit currently lingers untouched in Congress. Advertisement"It cuts costs for families with children and American workers and lowers childcare costs for hardworking families," Young continued. Would a restored child tax credit or maintained Social Security benefits impact your life?

Persons: Joe Biden, —, White, Shalanda Young, Young, Biden Organizations: Tax, Social, Service, American, Management, Social Security, Federal, Aid, Republican, Republicans, Democratic, —, GOP, Security

☆ Opinion: Biden gave the speech of his life
▼ + stars: | 2024-03-08 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +29 min

CNN —CNN Opinion asked political and policy contributors to weigh in on President Joe Biden’s State of the Union address. David Gergen: Biden just rewrote the presidential racePresident Joe Biden not only delivered perhaps the best speech of his life last night; he may have also changed the race itself. Roxanne Jones: Biden finally sounds like he’s ready to fightPresident Joe Biden finally has my attention. At the end of his speech, Biden reminded voters that he “grew up among working people” in Scranton. In his State of the Union speech, Biden had to answer the mail on all of these.

Persons: Joe Biden’s, David Gergen, Biden, Joe Biden, —, Carrie Sheffield, Carrie Sheffield Barry Morgenstein, Donald Trump’s, pandered, Sophia A, Nelson, Trump, Sen, Andrew, ”, Donald Trump, Harris, Daniel McCarthy, Trump President Joe Biden, Daniel McCarthy Biden, Ronald Reagan, Bill Clinton, wasn’t, he’s, haven’t, Cori Bush, Rashida Tlaib, Bernie Sanders, Nikki Haley, Trump couldn’t, Reagan, Roxanne Jones, ” Biden, Smart, Jill Filipovic, Mike Johnson, David A, Vladimir Putin, Putin, ” David A, Benjamin Netanyahu, “, SubStack’s, Paul Sracic, It’s, White, Paul Sracic Arne Hoel It’s, Hillary Clinton, Joe, ” Paul Sracic, Raul A, Reyes, ” Raul A, Marjorie Taylor Greene’s, Laken Riley, Mark Zandi, Mark Zandi Moody's, Ana Marie Cox, Ana Marie Cox Faith Fonseca, Biden’s, Dobbs, Roe, Wade, Peter Bergen, George W, Bush, Vladimir Putin’s, –, beefed, Gazans Organizations: CNN, David Gergen CNN, Union, Harvard Kennedy School, Gallup, NATO, Democratic, Republicans, Trump, Independent Women’s, United States Senate, Biden, Congressional, Trump President, South Carolina Gov, GOP, Republican, Conservative, The Spectator, Syndicate, Big Pharma, Companies, American, Democrats, Twitter, NATO —, Israel, New York Times, CBS News, Democratic Party, United Auto Workers, Youngstown State University, Hudson Institute, Reyes CNN, Border Patrol, Georgia, ” Progressives, Pew Research Center, White, USA, Moody’s Analytics, Ana Marie Cox Faith, Jackson, Peter Bergen CNN, US Senate, New, Arizona State University Locations: Joe Biden’s State, America, United States, State, Gaza, Israel, New York, Ukraine, ”, American, China, Iran, Europe, Asia, Chicago, Scranton , Pennsylvania, Belvidere , Illinois, Scranton, Claymont , Delaware, Delaware, Ohio, Washington , DC, Georgia, Alabama, Austin, Iraq, New America

☆ New York Community Bank Tries to Reassure Markets After $1 Billion Rescue
▼ + stars: | 2024-03-07 | by ( J. Edward Moreno | ) www.nytimes.com time to read: +1 min

A new management team at New York Community Bank is working to reassure investors after the struggling lender announced a $1 billion cash infusion led by the former Treasury Secretary Steven Mnuchin. On Thursday, the bank’s beaten-down shares jumped after executives gave investors new information about the state of the company and details about its rescue plan announced the day before. They also announced a cut to the dividend, the second this year, to just one cent per share. The bank’s share price rose more than 10 percent at the start of trading on Thursday, before settling to a 7 percent gain. The bank’s stock spiraled and its bonds were downgraded by credit-rating agencies.

Persons: Steven Mnuchin, Joseph Otting, Mr, Mnuchin, Otting Organizations: New York Community Bank

President Joe Biden's State of the Union address as prepared for delivery:Good evening. A former American president actually said that, bowing down to a Russian leader. And it’s because of you that tonight we can proudly say the State of our Union is strong and getting stronger. Americans pay more for prescription drugs than anywhere else. I say this as a lifelong supporter of Israel and the only American president to visit Israel in wartime.

Persons: Joe Biden's, Franklin Roosevelt, “, Hitler, Roosevelt’s, Lincoln, Putin, Ronald Reagan, thundered, Mr, Gorbachev, we’ve, Insurrectionists, ., Jan, I’ve, Latorya Beasley, Roe, Wade, Harris, Kate Cox, Kate, – that's, won’t, Hope, Shawn Fain, Dawn Simms, Dawn, That’s, Jill, I’m, Keenan Jones –, Sen, Bob Casey’s, It’s, It’d, Edmund Pettus, John Lewis, Betty May Fikes, ”, Banning, Jasmine, Jackie, we’re, Evan, Paul, Israel, –, We’ve, aren’t, They’ve, We’re, King, Bobby Kennedy, you’ve, Let’s Organizations: Madame, Union, Overseas, Republican, NATO, Alliance, National Security, America, That's, Act, Infrastructure Law, UAW, Big Pharma, Medicare, Affordable, White, Initiative, Women’s Health Research, Grants, Child, Big Oil, Social Security, Border Patrol Union, Dreamers, Peace Corps, Ameri Corps, Corps, American, House, NRA, Hamas, United, U.S, ARPA, Star Locations: Joe Biden's State, Europe, Russia, Ukraine, American, Russian, America, Finland, Sweden, United States, Birmingham , Alabama, Alabama, Dallas, Texas, COVID, That's America, Belvidere , Illinois, Belvidere, it’s, Shawn, HBCUs, Minnesota, Ireland, Selma , Alabama, Selma, Uvalde , Texas, Uvalde, Iowa, Israel, Gaza, U.S, Saudi Arabia, Iran, Red, China, Taiwan Strait, I’ve, Scranton , Pennsylvania, Claymont , Delaware, United States of America

☆ 1 million Arizonans will have all their medical debt wiped out, joining other states' efforts to make sure the burden doesn't 'torpedo' Americans' lives, Arizona's governor says
▼ + stars: | 2024-03-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Read previewNearly 1 million Arizona residents will soon see their medical debt balances turn to zero. AdvertisementA February analysis conducted by nonprofit health organization KFF, based on government data, estimated that about 20 million Americans owe at least $220 billion in medical debt, with 14 million people owing over $1,000 in medical debt and about 3 million people owing more than $10,000. Ned Lamont, who announced in early February that the state would cancel $650 million in medical debt for about 250,000 residents. Arizonans deserve a break, and they deserve a government that fights for them, helping ensure that medical debt is not going to torpedo their lives." Are you struggling to pay off medical debt?

Persons: —, Katie Hobbs, Joe Biden, Jeff Smedsrud, Hobbs, Smedsrud, Ned Lamont, Phil Murphy, Murphy, Arizonans, Jim Baker, Baker, I've, I'm Organizations: Service, Arizona Gov, American, Plan, Business, Arizonans, Connecticut Gov, New, New Jersey Gov Locations: Arizona, New Jersey, Phoenix

☆ The American Dream is under siege
▼ + stars: | 2024-03-02 | by ( Matt Egan | ) edition.cnn.com time to read: +15 min

Parents of young children are making difficult choices to afford child care — or they’re opting to evade it by dropping out of the workforce altogether. Even as the inflation rate has cooled across the US economy, child care remains a sore spot for many families. The weekly price of day care for a toddler surged 9% in 2023, according to Care.com, a marketplace for child care. Of course, Allison is hardly alone in feeling like the American Dream has been more difficult — and expensive — to attain than imagined. “The American dream is being taken away from the younger generation by the housing affordability challenges,” said Lawrence Yun, chief economist at the National Association of Realtors.

Persons: Hana Husković, Price, Hana, Michelle, they'll, ” Hana, “, It’s, they’ll, ’ Allison Powell, Liam Kelly, ” Allison, Allison Powell, Corinne ., ”, Allison, I’ll, homebuyers, Lotfi Karoui, Goldman Sachs, Lawrence Yun, Yun, Priscilla Almodovar, Fannie Mae, ” Almodovar, that’s, Almodovar, they’d, Homebuilding, Mark Zandi, Biden, ” Lael Brainard, Brainard, ” Brainard, ‘, Rachael Gambino, Garrett Mazzeo, Rachael, Deborah Brunswick, John General, ” Rachael, won’t, they’ve, – Organizations: New, New York CNN, Bureau of Labor Statistics, Wall, CNN, Federal, Intercontinental Exchange, ICE, Bloomberg, Getty, Rust Belt, National Association of Realtors, North, NAR, That’s, Baby Boomers, Homeowners, Federal Reserve, Moody’s Analytics, White, National Economic Council, American, Target, Starbucks, Facebook Locations: New York, United States, Atlanta, Peachtree Corners , Georgia, Decatur, Decatur , Georgia, Carolina, Yugoslavia, Italy, Mexico, Oakland , California, Livermore, San Francisco, California, Los Angeles, San Diego, Francisco, Miami, Honolulu, Rust, Des Moines , Iowa, Dayton , Ohio, Cleveland , Ohio, Scranton , Pennsylvania, Los Angeles , California, North America, America, States, Lansdale , Pennsylvania, Philadelphia

☆ Biden Looks to Change the Conversation on Immigration and Crime
▼ + stars: | 2024-02-28 | by ( Katie Rogers | Zolan Kanno-Youngs | ) www.nytimes.com time to read: +1 min

For years, Republicans have assailed President Biden and Democrats for policies they say are too lax on curbing immigration and tamping down on violent crime. This week, with a trip to the border planned and remarks delivered next to police chiefs assembled at the White House on Wednesday, Mr. Biden is trying to change the conversation, saying he is making progress on those very issues despite Republican intransigence. In remarks at the White House, Mr. Biden said that a stimulus package passed without Republican support during the coronavirus pandemic had made $350 billion available to local communities across the United States. There was flexibility with how the funds could be spent, but Mr. Biden has pressed repeatedly for them to be used to bolster local law enforcement efforts. “Thanks to my American Rescue Plan, which I might note, not a single person on the other team voted for, we provided $350 billion — $350 billion — that was available to deal with these issues,” Mr. Biden said, referring to Republican inaction on his signature legislation.

Persons: Biden, Republican intransigence, Mr, ” Organizations: White, Republican, American Locations: United States

☆ St. Louis Guaranteed Basic Income of $500 a Month Spent on Bills, Debt: City
▼ + stars: | 2024-02-21 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Read previewThe city of St. Louis is giving out $500 a month to 540 families, and in just three months recipients say it's helped them pay off debts and their bills. In St. Louis, recipients were chosen from over 5,500 applicants. Advertisement"The main categories where we see spending is pretty much where we anticipated," Adam Layne, the St. Louis city treasurer, told Business Insider in an interview. They had to be residents of St. Louis, have a school-age child, and have had a negative financial impact from the pandemic. Layne said the guaranteed basic income program took about a year and a half of planning and coordinating with partners, including researchers at Washington University in St. Louis.

Persons: —, Louis, it's, Adam Layne, Layne, St, Jack Dorsey's, St . Louis, Louisans Organizations: Service, Business, American, Washington University Locations: St, Louis, St .

☆ 3 signs the economy is thriving — and 3 red flags to monitor
▼ + stars: | 2024-02-15 | by ( Noah Sheidlower | Madison Hoff | ) www.businessinsider.com time to read: +10 min

Positive labor market data and GDP growth support this, but job opportunities in some sectors are down. Not all job data is positive, with job openings falling from their post-pandemic highs. Below are some of the signs the economy is thriving, as well as some warning signs. Labor market data is mostly positiveThe labor market is still stable despite gradually slowing, Kimbrough said during the forum. "I think the investment side of our economy is going to start to chip away a little bit at the discretionary consumption weight in our economy."

Persons: —, Marc Giannoni, LinkedIn's Karin Kimbrough, Charles Schwab's Liz Ann Sonders, Giannoni, Kimbrough, Jerome Powell, Powell, NerdWallet's Elizabeth Renter, Sonders, They're, there’s, there's, — Kimbrough, it’s Organizations: Federal, Service, Barclays, NYU Stern Economic, Labor, Conference, University of Michigan's, Market Committee, Health, New, New York City Housing Locations: York, New York City

☆ Chinese consumers are about to return from the holidays. That doesn't mean the economy will pick up.
▼ + stars: | 2024-02-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

AdvertisementChina's economy and markets were weak coming into 2024, but investor sentiment could worsen after the ongoing Chinese New Year break. "Service consumption growth will likely slow sharply after the Chinese New Year holiday on fading pent-up demand and weakening consumer confidence," the economists wrote. Authorities have pulled more than a dozen moves since January to try to stabilize the stock market rout and support downbeat property market demand amid its real-estate crisis. After all, there were suggestions earlier that authorities are considering a stabilization fund to rescue the flailing stock market. AdvertisementMainland stock markets are closed this week for public holidays.

Persons: —, Rich Lesser, Lesser, Hang, Xi Jinping Organizations: Beijing, Service, Chinese Ministry of Commerce, Nomura, Boston Consulting, Hang Seng China Enterprises, Authorities Locations: China, Beijing, Hong Kong

☆ Xi just fired China's top markets regulator. It shows his focus is still on control above all else.
▼ + stars: | 2024-02-08 | by ( Huileng Tan | ) 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 previewChina's extended stock market rout was so bad that leader Xi Jinping was set to personally pay attention to it — and it looks like his solution was to fire the country's top markets regulatory late on Wednesday. After all, there were suggestions earlier that authorities are considering a stabilization fund to rescue the flailing stock market. Stock markets in China and Hong Kong have accelerated losses into 2024. The analysts at the Eurasia Group aren't the only ones who say China needs to double down on economic reforms to shore up its economy.

Persons: —, Xi Jinping, Wu Qing, Xi, Eswar Prasad, China's Organizations: Service, China Securities Regulatory, Bloomberg, Business, Eurasia Group, Eurasia Group aren't, Cornell University, International Monetary Fund, Nikkei, Index, Hong Kong Stock Exchange Locations: China, Hong Kong, Beijing

☆ Investors are hoping the power of Xi's personal attention will rescue China's floundering markets
▼ + stars: | 2024-02-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Markets have rallied on the news as it's stoking hopes that China will roll out a forceful rescue plan. China and Hong Kong's stock markets have lost nearly $7 trillion from their peaks in 2021. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The plan is to brief the country's top leaders about the state of the markets, Bloomberg reported, citing unnamed people with knowledge of the matter. But some analysts see these moves as less powerful than Xi's personal participation in stabilizing the markets — even though it's unclear if any new support measures will result from the meeting, Bloomberg reported.

Persons: Xi Jinping, it's stoking, —, Hang Seng, Xi, Li Weiqing, Li Organizations: Bloomberg, Markets, Service, China Securities Regulatory Commission, Hang, CSI, ING, Investment Management, Business Locations: China, Hong, Hong Kong, Beijing, Singapore

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