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Repealing Obamacare's individual mandate would give GOP lawmakers an additional 8 billion over 10 years to help pay for their proposed tax cuts.The Congressional Budget Office updated its estimate Wednesday in response to lawmakers' interest. Republicans are considering axing the unpopular provision -- which requires nearly all Americans to have coverage or pay a penalty -- though it's not included in the current House tax reform bill.A CBO score published in December found nixing the mandate would save 6 billion over a decade. While the federal government would lose some revenue from the penalty's elimination, it would make up that and more because fewer people would have federally subsidized policies, the CBO says. The agency did not specify why the figure changed in its blog post announcing the deficit reduction number. 848
Record unemployment rocked the real estate market. Now, interest rates are at record lows, giving many people a new way to save money by refinancing their current mortgage.Matthew Garcia, a senior loan officer with Supreme Lending, says now is a good time to refinance your home. "Absolutely. I mean, you’re looking at interest rates being at the most historic rates they’ve ever been. Rates have been in the 3% ranges before but now you’re seeing 30-year loans getting into the upper twos and middle twos, which is completely insane," said Garcia.Garcia says the industry is going through a refinancing boom that it hasn't seen since a few years after the Great Recession. Refinancing your mortgage, or essentially restructuring your current home loan under a new, lower interest rate, can be done for a couple different reasons."There’s two main types of refinancing you can do. There’s what’s called rate term refinance which means I’m simply refinancing the balance from any closing costs I might have and dropping the interest rates. That’s what called Rate Term, taking no additional cash out. Then there’s also cash out. Cash out refinances tend to be a bit more expensive. When I say more expensive, I mean the rates are slightly higher, more expensive in cost structure," said Garcia.For cash out refinancing, home owners who have likely owned their property for at least four or five years, are refinancing to take the extra cash from the increased equity in the home, and invest it in renovations or elsewhere."Where people can get into more danger is, they're taking out money because they want to go out and invest in other investment properties, go use that money to go out and buy other homes, speculate. That’s where it gets a bit dangerous. A lot of folks start watching their HGTV and think they're the expert and they're going to tap into this equity and go and do these things. There’s a lot more to it," said Garcia.Garcia says the last thing people want is to end up with two failed mortgages. He says the best reasons to refinance is debt consolidation or if it will save money in the long run.Josh Stech, CEO and co-founder of Sundae, a company that helps people with homes in bad condition get their properties sold, also says it's a good time to refinance because of how great the real estate market was doing before the COVID-19 pandemic."Rates are really low but also equity in homes was really high. We hit historic highs heading into the pandemic in terms of the amount of equity that homeowners have in their homes. Basically, the value versus the mortgage that they owe," said Stech. As for how long interest rates will last, Federal Reserve Chairman Jerome Powell has said they could be around for years. Sheck says, there's a chance interest rates could go even lower but there's already so much demand to refinance and banks can only process so many."I think as the fed is targeting a longer term near-zero interest rate environment, I think actually if you maybe wait a little bit you might play the game and win and get a lower interest rate because of the supply and demand I mentioned. I think it's a great time. It's hard to argue with record lows you haven't seen since 1971," said Stech.Experts recommend people who are considering refinancing to talk to a loan officer or financial advisor to make the best decision for their situation. But, if it's something they're interested in doing, to look into it while the rates are as low as they are. 3495
President Donald Trump's moves on the Deferred Action for Childhood Arrivals program found an unlikely defender Wednesday night: former President Jimmy Carter.The Democratic former commander in chief told town hall attendees at Emory University to "give him credit" for not doing away with the deferred action program completely."To give Trump some due, he hasn't ended DACA yet," Carter said. "What he's said is he has given Congress six months to address the issue, which is long overdue.""It's very difficult because when (President Barack) Obama had a Democratic House and Senate, he didn't do it," he added, pointing to a long history of failed -- and often bipartisan -- efforts to pass comprehensive immigration reform.Carter suggested that a highly publicized six-month ultimatum might be what's needed to spur Congress to action."I don't think it's a hopeless case. I think the pressure and the publicity that Trump has brought to the immigration issue may have stimulated both Democrats and Republicans in the House and Senate to be more accommodating in this longstanding argument," he said.Carter's comments happened before reports emerged from a Wednesday evening meeting at the White House, at which it appeared that the President and Democratic leaders were moving closer to a deal to protect the hundreds of thousands of undocumented immigrants brought to the US as minors. However, the parameters of such a deal -- including whether it will include pathway to citizenship or funding for a border wall -- remain unclear. Although Trump asserted numerous times Thursday that House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell are "very much on board" with his plans, Republicans on Capitol Hill maintain that there has been "no agreement."Carter also gave advice to his successor."I would say to promote human rights, to keep our country at peace, and to tell the truth," Carter said of his words of wisdom for Trump. "I would like to see the United States of America, I'd say once again, become the foremost champion of human rights on earth."At a separate town hall the night before, Carter slammed Trump's response to North Korea, saying the North Koreans needed to be treated with respect. He also cast doubt on Trump's ability to engineer peace in the Middle East.The 92-year-old lamented the extreme partisanship in government affairs, saying he believes the US is at its most fragmented since the Civil War. He also slammed the increase in lobbying and campaign contributions in contemporary elections."I would say the most serious threat to our democracy is making ourselves even more like an oligarchy," he said. "America ... used to be one of our finest democracies on Earth and as I said, it's become primarily an oligarchy." 2800
President Donald Trump's son Donald Trump Jr.'s wife Vanessa Trump has filed for an uncontested divorce. The couple first married in 2005 and have five kids together. "After 12 years of marriage, we have decided to go our separate ways," a joint statement from the Trumps said. "We will always have tremendous respect for each other and our families. We have five beautiful children together and they remain our top priority. We ask for your privacy during this time."The New York Post's Page Six was first to report on the divorce. According to Page Six's sources, Trump Jr.'s hectic travel schedule running The Trump Organization has worn on the couple. “Don Jr. has been busy traveling, which has contributed to their problems. Vanessa is a devoted mother, but she is increasingly lonely and alone in the house with the children," a Page Six source said. In February, an envelope that contained a white powder was sent to Trump Jr. and his wife. The threatening envelope turned out to be a hoax. 1047
Researchers say that there are thousands of bugs in Christmas trees.In fact, there could be as many as 25,000 bugs in an average tree.Researchers say the bugs are not dangerous and very small. They suggest checking for eggs on trees before choosing one to take home. Also, you may want to leave it in a garage for a few days before taking it inside.Las Vegas Fire & Rescue shared several Christmas tree safety tips on their Facebook page recently.They suggest picking a tree with fresh needles, not placing trees near a heat source, daily watering and turning off lights when not at home or asleep. 615