The ongoing legislative discussions surrounding the Social Security Fairness Act are emblematic of broader issues faced by public workers and retirees in America today. As Congress grapples with the threat of a government shutdown, the Senate’s consideration of this significant bill highlights a multifaceted struggle over Social Security benefits that potentially impacts millions of workers.
Personal
As discussions surrounding international trade and tariffs heat up in the United States, it is crucial for consumers, automakers, and stakeholders in the automotive sector to understand the potential implications. President-elect Donald Trump has raised the issue of imposing tariffs on imported goods, particularly targeting products from China, Canada, and Mexico. These proposed tariffs pose
Recent statistics surrounding 401(k) savings reveal an optimistic trend in retirement planning among American workers. The average total savings rate, which encompasses both employee contributions and employer matches, has nudged upward to 12.7% in 2023. This reflects a modest increase from the 12.1% reported in the previous year. The findings, drawn from a comprehensive survey
In 2023, a transition of student loan accounts from NelNet to Mohela has sparked considerable alarm among lawmakers, who allege that the transfer was fundamentally flawed. An investigative letter sent to key government agencies—including the Consumer Financial Protection Bureau (CFPB) and the Department of Education—revealed profound issues resulting in millions of inaccuracies in consumer credit
As we approach the end of the year, the cryptocurrency market, specifically Bitcoin, showcases significant growth and volatility, compelling investors to make strategic decisions regarding their portfolios. With Bitcoin prices recently surpassing the landmark $100,000 mark, and boasting an impressive year-to-date increase exceeding 130%, many investors find themselves in a dilemma: should they hold their
Since the U.S. elections in November, the cryptocurrency market has experienced significant growth, highlighted by Bitcoin reaching unprecedented heights above $107,000. This surge has been largely attributed to the anticipated regulatory environment under President Donald Trump, who has articulated a pro-cryptocurrency stance. The excitement surrounding digital assets has captivated many investors; however, not all financial
As we approach the year 2025, the emphasis on retirement savings continues to grow. Financial experts recommend that individuals take proactive steps to enhance their 401(k) contributions as the new limits now allow for greater deferral options. Workers will be able to defer a maximum of $23,500 into their 401(k) plans, an increase from the
As financial analysts turn their attention to the horizon of monetary policy, the anticipated decision by the Federal Reserve to cut interest rates once again is causing a stir among investors and savers alike. Experts agree that the imminent rate cut—predicted to occur during the Fed’s upcoming meeting—promises both opportunities and challenges for individuals looking
As we navigate through a dynamic economic landscape, recent trends suggest a significant shift in American consumers’ perceptions of their financial futures. With the Federal Reserve poised to reduce interest rates, households are beginning to feel more optimistic about their financial prospects. The New York Federal Reserve’s latest report highlights a notable increase in consumer
In recent weeks, Congress took a significant stride toward reforming Social Security regulations that have long been viewed as unjust by many public service employees. On November 12, the House of Representatives overwhelmingly passed the Social Security Fairness Act with a vote of 327 to 75. This legislation seeks to abolish the Windfall Elimination Provision