NATIONAL ECONOMY
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VIDEO: What Was the Most Important Part of the 2021 Child Tax Credit?
WATCH: Charlotte’s Stacy Staggs says the government should work for its people! 💪🏻 We talked to Staggs about a new push to restore the pandemic-era child tax credit payments. The temporary reform proposed by President Biden cut childhood poverty in half during the COVID-19 pandemic. Federal lawmakers did not extend the tax credit, but there’s…
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Biden’s 2025 budget prioritizes lowering costs for families, taxing the rich
The president’s budget includes proposals to lower childcare costs, create a paid family leave program, lower drug costs, and strengthen Social Security and Medicare—all by raising taxes on the wealthy and corporations.
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Three years later, here’s how Biden’s American Rescue Plan has impacted North Carolina
The American Rescue Plan turns three today. Here’s how President Biden’s first signature accomplishment not only invested billions of dollars into North Carolina’s economy, but also made a difference in the lives of millions of people. Three years ago, on March 11, 2021, President Joe Biden signed the American Rescue Plan Act (ARPA) into law.…
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Biden takes aim at high costs during State of the Union speech
Biden called on Congress to pass a mortgage relief credit that would give first-time homebuyers an annual tax credit of up to $5,000 a year for two years. He also endorsed legislation to build and renovate roughly 2 million homes and vowed to crack down on “big landlords who break antitrust laws by price-fixing and…
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Biden proposes new actions to address housing shortages and high costs
The actions announced last week will promote fairer rental markets, boost the supply of affordable housing and manufactured homes, and help families who are struggling to make ends meet.
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Biden caps credit card late fees at $8
More than 45 million Americans who are charged late fees on credit cards each year will save an average of $220 annually under the new rule.
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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 North Carolina, grocery prices rose 3.5% 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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A new child tax credit could pass this month. Here’s what it would do for low-income families.
During the pandemic, Democrats changed the child tax credit and cut childhood poverty in half. Now there’s new hope for making those changes permanent, but there are skeptics.
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As North Carolina housing costs soar, Biden wants to turn empty offices into housing
In Sept. 2020, the median home sale price in North Carolina was $272,000. As of Sept. 2023, that figure had risen to $363,600.
