While the pilot focuses on “simple tax situations,” the U.S. Treasury estimates the pilot could cover about one-third of tax situations for 19 million taxpayers. Within five years, the program could save the average filer $160 per year, or a collective $11 billion annually including tax prep fees and time, according to a report from the Economic Security Project.
The Japanese government announced that it will now offer free daycare to all children aged 6 months to 2 years old, regardless of parents’ employment status. The “Childcare Access for All” program, set to begin in April 2024 with a trial run in 150 municipalities, will see nationwide implementation by 2026. All children within the age range will be eligible, with initial access capped at 10 hours per month, though an increase is planned for 2026.
The Biden administration will forgive another $1.2 billion in student debt for nearly 153,000 borrowers enrolled its new repayment program, called the Saving on a Valuable Education, or SAVE, plan. The relief will go to borrowers who have been in repayment for a decade or longer, and originally took out $12,000 or less. Biden has now canceled debt for almost 3.9 million borrowers, totaling $138 billion in relief.
The city is working with RIP Medical Debt, a nonprofit that buys medical debt in bulk from hospitals and debt collectors for pennies on the dollar. The group targets the debt of people with low incomes or financial hardships and then forgives the amounts. Under the program, the city will spend $18 million over three years.
“We’ll make it clear that when drug companies won’t sell taxpayer funded drugs at reasonable prices, we will be prepared to allow other companies to provide those drugs for less,” White House adviser Lael Brainard said on a press call.
The Biden administration has now cancelled an unprecedented $130 billion in student debt for more than 3.6 million Americans, offering much-needed relief to low-income families across the country.
“Ensuring that individuals in state and county prisons can keep in contact with their loved ones is key to enhancing rehabilitation, reducing recidivism, and improving community safety,” Governor Healey said in a written statement.
In 2021 almost 140 countries agreed to an Organisation for Economic Cooperation and Development deal they are meant to implement from next year to prevent big companies from avoiding taxation by transferring profits to low-tax countries. Germany has now formally implemented that commitment.
The new program aims to help students of color, first-generation college students and students from low-income households receive a higher education. After earning an associate degree, the new program will also allow students to receive a bachelor’s degree from the university for about $10,000.
This funding will also support thousands of local clean energy jobs, help achieve President Biden’s goal of lowering energy costs for all Americans, as well as help Puerto Rico achieve its goal of 100% renewable energy by 2050. The first installations are slated to begin in Spring 2024.
