Economy
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Biden demands grocery stores and food brands end ‘price gouging’ and ‘shrinkflation’
Grocery prices have risen by more than 20% since the beginning of the pandemic and in Nevada, grocery prices rose 4.2% from Nov. 2022 to Nov. 2023. In response, President Biden is demanding grocery chains and food brands lower their prices and stop ripping families off.
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Biden policy to help IRS collect up to $851 billion in back taxes from ultra-wealthy
Using funds provided by the Inflation Reduction Act, the IRS has already collected more than $520 million from 1,600 millionaires who had unpaid tax bills of more than $250,000. The IRS could collect as much as $851 billion in additional tax revenue over the next decade.
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Trump wants to cut corporate taxes again
Sixty-five percent of Americans believe corporate taxes should be raised and roughly six in 10 Americans said it bothered them a lot that corporations and some wealthy people “don’t pay their fair share,” according to a Pew survey. Donald Trump has other ideas.
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Nearly 7,000 Nevadans to get student debt canceled, Biden administration announces
The plan will erase debt for borrowers who have been paying down their debt for at least 20 years. For many borrowers, qualifying monthly payments that should have moved them closer to forgiveness were not accounted for, effectively forcing them to make extra payments under their IDR plans.
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White House announces new plan to lower child care costs, more
The Biden administration’s newly proposed actions, which would likely take effect in 2024, would lower child care costs for 80,000 American families by capping their child care copayments at 7% of the family income.
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Nevada gets $416MM for high-speed internet from infrastructure law
This funding’s aim is to help connect the estimated 8.5 million families and small businesses nationwide that still haven’t been able to access the full capabilities of modern technology.
