He urged Congress to raise their taxes if production is not increased. President Joe Biden has urged Congress to increase taxes on oil and gas companies’ profits if…
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FTC Explores Reduction of Junk Fees
Extra, unnecessary charges are common in multiple industries. The Federal Trade Commission (FTC) opened public comments this week to inform potential policies against junk fees. Junk fees are…
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Labor Department Releases Third Quarter Data
Wages and labor spending increased, no indicators show inflation slowing. The Labor Department released third-quarter information showing that worker pay and benefits rose rapidly compared to the year…
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President Announces Protections from Junk Bank Fees
He says the measure will help struggling families. On Wednesday, President Joe Biden announced the implementation of protections from what he called “junk fees.” The measures include prohibiting…
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Thanksgiving Turkeys to Cost More This Year
Supply is also expected to be low. Between avian flu, inflation, and supply chain challenges, Thanksgiving turkeys will be both hard to find and more expensive than ever. When…
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Appeals Court Rules CFPB’s Funding Methods Unconstitutional
Decision is in opposition to previous rulings made by other courts. The Consumer Financial Protection Bureau (CFPB) is an independent federal agency that supervises banks and addresses complaints…
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Federal Reserve Says Business Outlook is Pessimistic
“Beige Book” reflects some easing of inflation. On Wednesday, the Federal Reserve reported that economic activity expanded modestly in recent weeks although it remains flat in some regions…
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IRS to Increase Standard Deductions for 2023
They are responding to pressures of inflation. The Internal Revenue Service announced Tuesday that it is raising the income threshold for all tax brackets and will also increase…
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President Calls for Increased U.S. Oil Production
White House plans to restock emergency reserves. On Wednesday, President Biden announced a plan he claims will produce a “profit for taxpayers” and it includes increased production from…
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Average 401(k) Down $34,000 This Year
Americans have experienced more than $2 trillion in losses. New economic research has found that the average person’s 401(k) has lost some $34,000 in value since the beginning…
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