By Aimee Pichi, CBS News IRS officials have touted the agency’s delivery of the latest round of stimulus checks as reaching eligible Americans in “record time.” Yet some Social Security recipients in urgent need of financial assistance say they’re still waiting for the emergency relief payment. The problem at first
NEW YORK – New York Attorney General Letitia James today took action to protect millions of New Yorkers and block debt collectors from seizing billions of dollars in emergency stimulus payments authorized by the American Rescue Plan Act of 2021. Attorney General James issued official guidance to New York state banking
By Reade Pickert and Olivia Rockeman, Washington Post The velocity of the U.S. economy’s post-pandemic rebound hinges on more than just an increasingly capable consumer, and business spending appears poised to deliver its own boost. Economic growth balances on a combination of factors, notably consumer spending, housing demand, government outlays
By Jacob Passy, Market Watch A widespread lack of awareness about the federal ban on evictions is likely limiting renters’ ability to take advantage of it, according to a new government report. The Government Accountability Office (GAO), in a report released Monday, examined the effects of eviction moratoriums throughout the
By Irina Ivanova, CBS News The $1.9 trillion American Rescue Plan signed into law last week includes a welcome tax break for unemployed workers. The law waives federal income taxes on up to $10,200 in unemployment insurance benefits for people who earn under $150,000 a year, potentially saving workers thousands
By Aimee Picchi, CBS News The $1.9 trillion American Rescue Plan, signed into law by President Joe Biden, is aimed at shoring up the pandemic-stricken economy through fiscal measures like expanded unemployment aid and direct stimulus checks. But the legislation also includes a relatively novel measure that offers a form
By Jeff Cox, CNBC The Federal Reserve on Wednesday sharply ramped up its expectations for economic growth but indicated that there are no interest rate hikes likely through 2023 despite an improving outlook and a turn this year to higher inflation. As widely expected, the policymaking Federal Open Market Committee also voted
By Megan Henney, FOX Business The IRS has agreed to not seize some Americans’ stimulus check to offset outstanding federal tax debts, according to an agency watchdog. The issue is a change that Congress made in late December affecting how people with unpaid government debt would be treated if they claimed the first two stimulus
By Brian Sozzi, Yahoo Finance The red-hot U.S. housing market may meet its match this year: rising mortgage rates. Thus far though, it doesn’t appear housing has been thrown too much off its stride. “The consumer has certainly lost some of that [buying power] in the last couple of weeks,
By Tami Luhby and Katie Lobosco, CNN Washington (CNN) – The $1.9 trillion coronavirus package contains a wide range of benefits to help Americans who are still struggling with the economic fallout of the pandemic. The House of Representatives passed the bill on Wednesday, paving the way for President Joe Biden to sign it into law later
