Students who got partial loan relief could see full discharge
The change could lead to $1 billion in loans being canceled for 72,000 borrowers, all of whom attended for-profit schools, the Education Department said.
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The $3B question: How will Indiana spend the next round of federal aid?
Gov. Eric Holcomb’s administration oversaw and directed the spending of the $2.4 billion CARES Act money Indiana received last year, but this time around, it seems more likely that state lawmakers will be involved in spending decisions.
Treasury: $242 billion in new relief payments already sent
The Treasury said the first batch of payments went to eligible taxpayers who provided direct-deposit information on their 2019 or 2020 tax returns.
GOP attorneys general question stimulus barring tax cuts
The attorneys general list over a dozen instances of states currently considering new tax credits or cuts that they believe could be jeopardized simply because of the relief funds.
Battling bigness: Congress eyes action against monopolies
The battle against bigness is building. Whether it’s beer, banks or book publishing, lawmakers are targeting major industries they say have become so concentrated that they’re hurting competition, consumers and the economy. The economic dislocation of the pandemic has laid bare the struggles of small businesses unable to compete with corporate giants that have been […]
Yellen pushes global minimum tax as White House eyes higher corporate taxes
Although he has not proposed entirely reversing President Trump’s cut in the corporate tax rate, President Biden has said he would aim to raise potentially hundreds of billions more in revenue from big businesses.
Biden aims for quicker shots, ‘independence from this virus’
President Joe Biden pledged in his first prime-time address Thursday night to make all adults eligible for vaccines by May 1 and raised the possibility of beginning to “mark our independence from this virus” by the Fourth of July.
Pace of spending for pandemic aid? Try $43,000 every second
The president signed the aid package into law Thursday without a comprehensive plan in place to distribute all of the funds, which will be a core focus of the administration in coming weeks.
States drawing up big wish lists for the COVID relief money
Since most state budgets are not in the tailspins that many feared last spring, states can use their share of the money to go way beyond balancing the books and dealing with the direct costs of the coronavirus pandemic.
Biden signs $1.9T pandemic relief bill before speech to nation
President Biden’s challenge Thursday night will be to honor the sacrifices made by Americans over the last year while encouraging them to remain vigilant despite “virus fatigue” and growing impatience to resume normal activities.
Indianapolis, Marion County expected to get $424M from latest relief bill
The funding is part of an overall $1.9 trillion bill that could send as much as $5.87 billion to the state, including roughly $237 million to Indianapolis and another $187 million to Marion County.
U.S. budget deficit hits record $1.05 trillion after 5 months
The Treasury Department reported Wednesday that the October through February deficit was 68% larger than the $624.5 billion deficit recorded during the same period last year.
Congress OKs $1.9T pandemic relief bill along party lines
Most noticeable to many Americans are provisions providing up to $1,400 direct payments this year to most adults and extending $300 weekly emergency unemployment benefits into early September. But the legislation goes far beyond that.
Independent restaurants getting economic relief they desperately sought
The $1.9 trillion package to provide economic relief for millions of businesses and individuals includes targeted relief money for independent restaurant operators, to the tune of $28.6 billion.
U.S. prepares to send relief checks, but big stimulus challenges loom
The sheer volume of new programs threatens to swamp federal agencies, including the Internal Revenue Service, leaving some lawmakers fearful about early delays.
U.S. House approves pro-union bill despite dim Senate odds
The measure, which union leaders and labor allies have presented as a cure for decades of working-class wage stagnation, was approved on a mostly party-line 225-206 vote.
When to expect payments, other benefits from COVID-19 relief package
The package includes direct payments to most Americans, aid to small businesses, financial help for schools and much more intended to help the country recover from the financial ravages of the pandemic.
Child tax credit expansion sets up showdown with GOP
The massive coronavirus relief plan making its way to President Joe Biden’s desk includes a plan to temporarily raise the child tax credit that could end up permanently changing the way the country deals with child poverty.
Move over, Muncie: Five Indiana cities could lose status as metro areas
The federal government is proposing to downgrade 144 cities in all from the metropolitan statistical area designation, which some areas fear will affect federal funding and their ability to lure businesses and talent.
Biden order could change how colleges handle sex misconduct
Biden is set to sign an executive order on Monday directing the Department of Education to review policies implemented by Donald Trump’s administration, including changes to Title IX regulations that prohibit sex discrimination in federally funded institutions.