Republicans Eye Deeper Tax Cuts If They Win Power
The Washington Post reports Republicans in Congress aim to extend the 2017 tax cuts and push for further corporate tax relief, risking added debt. Democrats warn such cuts would worsen inflation and favor the wealthy, while Biden supports higher taxes on top earners and corporate reform to fund care and education.
MENTIONED IN THIS ARTICLE
Congress
Donald Trump
Washington
Trump
Stanford University
MIT
U.S
Mike Crapo
Idaho
Senate Finance Committee
Chamber
The
Washington Post
United States
Biden
Democrats
Congressional Budget Office
America
Louisiana
Steve Scalise
House
Post
CFPB extends credit card protections to buy now pay later
The Consumer Financial Protection Bureau rules that buy now pay later firms must offer the same consumer rights as credit cards, including dispute and refund processes. Major lenders Affirm and Klarna welcomed the move while noting ongoing industry differences and reporting gaps to credit bureaus.
MENTIONED IN THIS ARTICLE
Consumer Financial Protection Bureau
Buy
New York
CFPB
Rohit Chopra
Affirm
Klarna
Buy Now
Pay
Credit card borrowers urged to negotiate with lenders for relief
Credit experts urge borrowers to contact lenders directly to negotiate rates fees and repayment plans before debts reach collections. They note hardship programs rose during the pandemic and warn that high rates persist amid inflation and ending stimulus supports. Delinquencies are up with renters vulnerable and borrowers advised to monitor credit scores and avoid overextension including buy now pay later loans.
MENTIONED IN THIS ARTICLE
Lynch
McClary
LendingTree
Federal Reserve
Silvio Tavares
VantageScore
Tavares
Delinquencies rise as consumer debt strains grow
The rise in delinquencies outpaces income growth, with credit cards at about 6.5 percent of consumer debt per Bank of America Global Research. Many keep up by paying minimums, but rising stress could push them into severe delinquency if the economy worsens. Retail spending stalled in April as consumers cut discretionary buys. Walmart notes higher essential spending while Starbucks and McDonald’s lower expectations and offer more deals.
MENTIONED IN THIS ARTICLE
Bank of America Global
McClary
Walmart
Starbucks
McDonald's
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Jacob Bogage
Grover Norquist
Cora Lewis
Associated Press
UU SN Ae
Seau Eee
Elyria
Ken Weaver
Air Force
Reliabledrain.com
Robert Taylor Insurance Bundle
Auto & Home
Nationwid
E Allstate
Metlife
Liberty Mutual
AAA Insu
Lorain
Taylor
Petes
Ely Square
East Ave
Depot St
Smart
South Park Rec
Lorain County
Caravan For Justice & Equality
Cleveland Clinic
Greater Victory Christian Ministries
Reid Ave
Broadway Ave
Bit.ly3kifokn
Avon Hospital
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