UPDATE: Indiana taxpayers to get $125 refunds as state gives back $545M in surplus
The size of the state surplus has triggered Indiana’s automatic tax-refund law, with an estimated $545 million being divided evenly among 4.3 million taxpayers.
Associated Press
Articles
Federal Reserve to tighten credit faster, sees three rate hikes in 2022
The Fed’s policy change does carry risks. Raising borrowing costs too fast could stifle consumer and business spending. That, in turn, would weaken the economy and likely raise unemployment.
Jimmie Johnson to run Indy 500, full IndyCar schedule
The seven-time NASCAR champion had been speeding toward the Indy 500 decision he finally announced Wednesday since he moved to IndyCar earlier this year.
Retail sales rise modest 0.3%, but optimism still buoyed
With Americans paying more across the board for necessities like food and gas, the slowdown in spending may be an indication of inflation fatigue.
New guidelines, Booster Day looming as COVID disrupts NBA
Players and coaches (including Pacers head coach Rick Carlisle) are again missing games due to protocols, underscoring what NBA officials have been saying for weeks: The pandemic is still very much a problem.
Colleges go back to drawing board—again—to fight virus
Facing rising infections and a new COVID-19 variant, colleges across the U.S. have once again been thwarted in seeking a move to normalcy and are starting to require booster shots, extend mask mandates, limit social gatherings and, in some cases, revert to online classes.
Congress sends Biden $2.5T debt limit hike, avoiding default
Capping a marathon day, the House gave final approval to the legislation early Wednesday morning on a near-party-line 221-209 vote, defusing a volatile issue until after the 2022 midterm elections.
Biden’s plan for covering OTC virus testing has retro approach
Omicron is not the only reason testing is taking on renewed importance. Anticipated approval of antiviral pills that COVID patients can take at home is also expected to increase demand for fast tests that can provide reliable results.
Wholesale inflation jumps record 9.6% over past 12 months
The increase in wholesale prices was widespread, led by a 1.2% increase in the cost of goods and a 0.7% rise in the price of services.
Treasury awards $8.7B for lending in minority communities
The funds from the Emergency Capital Investment Program, which was created this year, will go to 186 community-based financial institutions.
Pfizer confirms COVID pill’s results, potency versus omicron
The prospect of new pills to fight COVID-19 can’t come soon enough for communities in the Northeast and Midwest, where many hospitals are once again being overloaded by incoming virus cases.
One year of vaccines: Many lives saved, but crisis continues
One year ago, the biggest vaccination drive in American history began with a flush of excitement in an otherwise gloomy December.
USA Gymnastics reaches $380M settlement with Nassar victims
A federal bankruptcy court in Indianapolis on Monday confirmed the settlement between USA Gymnastics and the U.S. Olympic and Paralympic Committee and the hundreds of victims, ending one aspect of the fallout of the largest sexual abuse scandal in the history of the U.S. Olympic movement.
Thousands without heat, water after tornadoes kill dozens
Residents of Kentucky counties where tornadoes killed several dozen people could be without heat, water or electricity in frigid temperatures for weeks or longer, state officials warned Monday.
Biden administration unveils plan for electric vehicle charging network
The Biden administration released an ambitious federal strategy Monday to build 500,000 charging stations for electric vehicles across the country and bring down the cost of electric cars with the goal of transforming the U.S. auto industry.
New inflation number feeds angst about Democrats’ $2T bill
A report from the nonpartisan Congressional Budget Office said that if many of the bill’s temporary spending boosts and tax cuts were made permanent, it would add $3 trillion to the price tag. That would more than double its 10-year cost to around $5 trillion.
South African doctors see signs omicron variant milder than delta
Doctors and medical experts suspect that the omicron version really is causing milder COVID-19 than delta, even if it seems to be spreading faster.
Surging inflation forcing people, businesses to adapt
Across the United States, in homes and in businesses, the highest inflation in a generation is heightening financial pressures and forcing people to adapt to a new reality.
Planning questions emerge at tornado-destroyed candle plant
Eight of the 110 workers on the overnight shift Friday are confirmed dead and another eight are missing. More than 90 have now been accounted for, making the death toll lower than some had feared hours earlier.
GM venture picks Michigan for 3rd U.S.-based EV battery plant
General Motors and a joint-venture partner plan to build an electric vehicle battery factory in Lansing, Michigan. They say the plant would cost up to $2.5 billion and employ as many as 1,700 workers.