The standard deduction rises up to $15,000 for single and $30,000 for married taxpayers. The Internal Revenue Service (IRS) updated its standard deductions for U.S. taxpayers in 2025,…
Read MoreCost of Living
Supreme Court Declines Appeal by Former Pharma Executive
The court upholds the $64 million penalty, holding the former CEO liable for price gouging and fraud. The Supreme Court declined to hear an appeal filed by former…
Read More
Dock Workers Union Extends Contract Through Mid-January
Parties will continue to negotiate outstanding details. The International Longshoremen’s Association (ILA) agreed late Thursday to extend its contract with the United States Maritime Alliance (USMX). “The union…
Read More
USDA Awards $35 Million for Independent Meat Processors’ Expansion
The funding will construct new facilities, create 1,200 new jobs. The U.S. Department of Agriculture (USDA) is awarding $35 million to expand the processing capacity of 15 independent…
Read More
Federal Reserve Board Cuts Prime Rate 50 Basis Points
The central bank was motivated by the change in the employment rate, among other factors. The Federal Reserve cut interest rates by half a point on Wednesday, an…
Read More
HUD Announces Investment in Energy-Efficiency for Low-Income Housing
The funding will be distributed to renovate 4,260 homes on 32 properties. The Department of Housing and Urban Development (HUD) is distributing $19 million to 32 low-income housing…
Read More
Energy Department Purchases Four Million Barrels for Petroleum Reserve
Energy secretary says the department is “maintaining the readiness of the world’s largest Strategic Petroleum Reserve.” The Department of Energy (DOE) announced that it purchased 4.65 million barrels…
Read More
HHS Issues Final Guidance for Medicare Prescription Payment Plan
New initiative to ease out-of-pocket drug costs and cap annual expenses at $2,000 for Medicare beneficiaries by 2025. The Department of Health and Human Services (HHS), through the…
Read More
President Proposes Plan to Curb Corporate Landlord Pricing
He urges Congress to support legislation to cap annual rate increases at 5 percent. This week, President Joe Biden proposed a legislative plan that would have to be…
Read More
FCC Urges Congress to Renew Pandemic-Era Internet Program
The Affordable Connectivity Program funding has expired. The Federal Communications Commission has called on Congress to renew funding for a low-cost internet connectivity program instituted during the COVID-19…
Read More