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What impact will the new administration have on your money? Experts think another relief package could be one of their first actions in office.“There are a variety of ideas by lawmakers on both sides on how to either build on those ideas or even use new ideas, for example, expanding the child tax credit, and the earned income tax credit to help with economic relief,” said Garrett Watson, Senior Policy Analyst at Tax Foundation.The earliest anyone would see additional stimulus money would be early next year, separate from a stimulus bill.The Biden campaign talked about increasing overall spending or raising taxes on wealthier Americans and businesses to pay for it.“The most likely ones being the corporate tax increase raising from 21% up to 28%, and bringing the top individual income tax rate from 37% up to 39.6%, where it was prior to the Trump tax law in 2017,” said Watson.Which party has control of the Senate will impact if taxes are raised. Same goes for possibly raising the federal minimum wage. Congress would need to approve that.Experts say that likely puts us into 2022 before any major financial changes would take place. That's also the midterm elections and when another shift in balance of power could happen.Something that could affect your money and gain bipartisan support is changes in retirement savings.“The Biden campaign has come out with an interesting retirement proposal that if it did get traction, it would change the way traditional retirement accounts work by essentially converting the deductibility under current law of those traditional retirement accounts when you contribute into a matching credit instead,” said Watson. “And so that would change the way in which folks operate their traditional retirement accounts.”Bottom line, the outcome of the remaining Senate races will determine any changes to either providing or taking more money from Americans. 1910
When Hurricane Michael made landfall Wednesday as a Category 4 storm, it brought 150 miles per hour winds, 14-foot storm surges, flash floods and heavy rains.But news of this coming disaster also brought charities and volunteers to the scene to help with immediate rescues and long-term recovery. You can assist these efforts by clicking the 'Take Action' button below or through?this link.If you are in the hurricane's path or had to evacuate, you can let friends and family know that you are safe through the American Red Cross Safe and Well page and Facebook's Safety Check on their Hurricane Michael Crisis Response page. Both of these tools can also be used to check on people you know in the area. 726
While the teams on the field at Super Bowl LV are yet to be determined, the halftime performance has been decided: The Weeknd. 134
While Election Day is still 19 days away, voters were already forced to make a decision on Thursday: Donald Trump or Joe Biden.While the decision will not show up on an official ballot or election, the choice Americans were forced to make was on which presidential town hall to watch. While having debates on competing networks might have made things challenging for swing voters, there are not many undecided voters left, according to polls. In a national poll released by "The Hill" yesterday, the survey found that 7% of voters remain undecided. On one network, Joe Biden calmy responded to questions from a socially-distanced audience in Pennsylvania. Meanwhile, President Donald Trump sparred with NBC News host Savannah Guthrie in a competing town hall there.The dueling town halls were held in lieu of a traditional town hall debate. The debate was scrapped after the Commission on Presidential Debates said that tonight’s debate would be held virtually. Trump opted out of a virtual debate, prompting Biden to schedule a forum on ABC News. Yesterday, Trump announced he too would hold a network-televised debate, this time on the NBC family of networks.Trump and Biden plan on debating next week in person for the final time. Biden said he would like to see Trump tested for the coronavirus at the next debate.“Yeah," Biden said when asked if Trump should be tested. "By the way, before I came up here, I took another test, I've been taking it every day, the deep test, you know, the one, they go in both [noses]. Because I wanted to be able to — if I had not passed that test, I didn't want to come here and not expose anybody."White House press secretary Kayleigh McEnany originally stated that Trump was tested multiple times a day. But Trump has acknowledged that he wasn’t tested every day, and said during Thursday’s town hall he was unsure when his last negative test was before announced he was infected with the coronavirus on Oct. 2.“I don't know, I don't even remember,” Trump said. “I test all the time. I can tell you this. After the debate, like, I guess, a day or so, I think it was Thursday evening, maybe even late Thursday evening, I tested positive. That's when I first found out,While Biden answered questions on tax policy, Trump responded to a New York Times story on his personal taxes, and was pressed on details that he reportedly owes 0 million in taxes in the coming years. "I'm treated very badly by the IRS,” Trump said. “They treat me very, very badly. You have people in there from previous administrations. They treat me very badly. But we're under audit. It's very routine in many ways. But we're under audit. They like to change the game, change the rules, do everything,"Biden was pushed on whether he would raise taxes amid a pandemic and higher unemployment.“When I said the Trump tax cuts, about .3 trillion of the trillion in his tax cuts went to the top one tenth of 1%,” Biden said. “That’s what I’m talking about eliminating. Not all the tax cuts that are out there.” 3033
While scientists work to come up with a safe and effective COVID-19 vaccine, doctors across the country are watching closely. Many are helping guide their patients in making an informed decision about getting a vaccine."This was indeed a surprise to see that there would vaccines available by the 1st of November. It’s clearly an aspirational goal, because we all would like to see a safe and effective COVID-19 vaccine as soon as possible, but I think testing vaccines to make sure they’re safe and effective is of paramount importance," said Dr. Bali Pulendran, a microbiology and immunology professor at Stanford University.Dr. Pulendran says the process of developing a vaccine involves numerous steps, and scientists are getting closer to the end. Still, it's hard to put an end date on the third and final phase of a vaccine trial. This last phase determines whether the vaccine actually works."The way in which you can assess whether a vaccine works is to see how many of these people acquire the disease or become infected with COVID at some period of time," explained Dr. Pulendran.Phase three divides the trial participants into two groups. One group is given the vaccine, and the other is given a placebo."And then, you calculate the efficacy based on those numbers. So, if there were 200 people affected in the placebo group but there were only 100 people who were infected in the vaccinated group, then the efficacy is 50 percent" said Dr. Pulendran.The third phase is hard to time, as it depends on how quickly some of the trial participants become infected. If they live in areas where COVID-19 infection rates are higher, the phase will be completed faster.But there are some other ways to speed up the vaccine trial.Dr. Darria Long, an emergency room physician and clinical assistant professor at the University of Tennessee-Erlanger, says one way is by doing two of the phases at the same time. Another way is if officials prepare for the manufacturing and logistics side of producing the vaccine during the third phase of the trial."This is what we see the CDC saying is to get ready on the manufacturing and logistics side because even if you come up with the perfect target drug, making sure you can manufacture hundreds of millions and that you have the little glass vials that can keep it at the right temperature, those are all things that can be hang-ups,” said Dr. Long. “So, they're wanting to expedite that process, because the last thing you want is to say is we have the vaccine, but we can’t get it to people.”Dr. Long is already answering her patients' questions as news of a possible COVID-19 vaccine continues to be publicized."I do think a lot of people are wondering about this vaccine and it runs the gamut. There are those that say they really want the vaccine because they see it as this gateway to getting back to life as we know it," said Dr. Long.There are also those who are really concerned about the efficacy and safety of a COVID-19 vaccine. Doctors say a key piece in evaluating a vaccine when it does come out is the data surrounding it."The data that comes out in the public domain: is a particular vaccine efficacious? How effective is it what is the efficacy data? Is a particular vaccine safe? What are the side reactions? And they should talk with their physicians to ask each question. Ask doctors, ‘Could you tell me what the safety part of this vaccine is?" recommended Dr. Pulendran.And above all, doctors and scientists hope politics will stay out of the development of a COVID-19 vaccine in order to ease any concerns or hopes for a vaccine to be available as soon as possible. 3644