Part of the “Commitment to America” agenda. The House of Representatives voted to repeal part of the Inflation Reduction Act that provided funding to hire up to 87,000…
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Job Creation Higher than Expected in December
The president applauds the report. The Department of Labor announced that 223,000 jobs were added to the U.S. economy in December. Officials report that the unemployment rate has…
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Treasury and IRS Announce Opening of EV Tax Credits
Questions remain regarding country of assembly eligibility. The Department of the Treasury and the Internal Revenue Service released additional information regarding tax benefits on clean vehicle provisions under…
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November Home Sales Lower Than Expected
It is the sixth straight month of decline. The National Association of Realtors (NAR) reported that pending home sales fell 4 percent in November from the prior month.…
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Withdrawals From Retirement Plans Increase
Americans are taking “hardship” withdrawals from 40(k) plans. The Internal Revenue Service allows hardship withdrawal from retirement funds without penalty when there is an immediate or heavy financial…
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Federal Reserve Continues to Increase Interest Rates
Half a percent hike is the seventh this year. On Wednesday, the Federal Reserve again increased interest rates, by half a percentage point instead of the three-quarter percentage…
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U.S. Inflation Slowed in November
Dropped more than half a percent from October. The Consumer Price Index released this week shows inflation slowed in November, providing hope that interest rates and prices may…
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Military to Receive Pay Raise in 2023
The largest increase in 20 years still does not keep pace with inflation. The National Defense Authorization Act, which was passed by the House of Representatives this week,…
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Christmas Tree Prices Higher Due to Inflation
Some regions experiences shortages in supply. While Christmas tree farms have reported a strong harvest, some regions of the U.S. are experiencing a shortage even as others have…
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FHA Delivers Annual Report to Congress
COVID-19 funds were distributed to one million homeowners under mortgage insurance program. The Federal Housing Administration (FHA) recently released its annual report to Congress. Key to the report…
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