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House Republicans released a tax reform plan Thursday that would eliminate a tax break for Americans with student debt.The student loan interest tax deduction saves people as much as 5 a year, though most see a smaller benefit.The sweeping legislation was described by House Speaker Paul Ryan as a series of tax cuts aimed at helping most Americans. But it eliminates or limits some tax deductions and exemptions to fund those cuts.The student loan interest tax deduction is just one on the chopping block. The bill still needs to be approved by both the House and Senate, and signed by President Trump, who has said it will be done "before Christmas."Here's how it currently works: Those eligible can claim up to ,500 of what they paid toward the interest on their student loans, but not the principal.It's an "above the line" deduction that can be claimed without itemizing. But it's only available to borrowers with a modified adjusted gross income of less than ,000 (0,000 for married couples filing jointly.) The benefit is gradually reduced once you earn at least ,000 (or 0,000 for couples).About 12 million people claimed the student loan interest deduction in 2015, according to the IRS. More than 40 million Americans have student debt.The student loan interest deduction cost the federal government billion in foregone revenue during 2016, according to a report from The Pew Charitable Trusts.The cost has more than doubled since 2007 as student loan balances grew, even though the maximum deduction (,500) hasn't changed since 2001, the report said.Still, it costs less than the American Opportunity Tax Credit. That allows families who are paying for college out-of-pocket to claim up to ,500 per student. The benefit, which cost nearly billion in 2016, would be preserved under the House Republican plan.Even if the federal student loan interest deduction is repealed by Congress, you may still qualify for a state deduction. Thirty-seven states and D.C. offer a similar benefit, according to The Pew Charitable Trusts.The House bill also proposes nearly doubling the standard deduction. It would raise it for singles to ,000 and for married couples filing jointly to ,000. 2279
House Minority Leader Nancy Pelosi asked "Do the women get to talk around here?" during the White House dinner on Wednesday night over the Deferred Action for Childhood Arrivals program, according to a report in The Washington Post.The Post reported that during the dinner, Commerce Secretary Wilbur Ross asked the 11 people at the table -- including Pelosi, the only woman present -- what President Donald Trump got out of the deal made with Democrats on border security and DACA.As Pelosi tried to make her point that Trump would get support from Democrats on a variety of issues, the men at the table started talking over each other. 644
Immediately following reports of an incident in Las Vegas in May involving Ezekiel Elliott of the Dallas Cowboys, the NFL conducted a comprehensive investigation that included interviews with multiple witnesses, including security personnel and others with direct involvement, as well as a review of documentary and other information.On Tuesday, as part of the review, NFL Commissioner Roger Goodell met with Mr. Elliott to reinforce the standards of conduct expected of him and the consequences for failing to meet those standards.Mr. Elliott acknowledged that he demonstrated poor judgment and committed to make better choices in the future. He volunteered to take advantage of the resources available to help him continue to grow personally.Commissioner Goodell determined there was no violation of the personal conduct policy and no further action is warranted. 873
I’m profoundly grateful for the love and support from my family and friends.Thank you for your prayers and well wishes. And, while I have you, please remember to go vote. Because we are all in this together. https://t.co/6sAU4MYixlLove, Jeff— Jeff Bridges (@TheJeffBridges) October 20, 2020 299
IMPERIAL BEACH, Calif. (KGTV) - Imperial Beach residents are being told by city officials to clean up - or pay up.Some 20 homeowners received a code enforcement letter last month indicating they needed to remove debris from their backyards.The letter read in part: 272