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Tag: Biden

Biden seeks extra $400 a year in Pell grants for college and to expand aid to Dreamers

Finance
Alex Wong | Getty Images News | Getty ImagesPresident Joe Biden asked Congress for a $ 400 annual increase in maximum Pell grants for college students as part of a budget proposal issued Friday.The president also called to broaden eligibility to undocumented immigrants known as Dreamers.Pell grants are available to undergraduate students who display exceptional financial need. Unlike loans, they generally don't have to be repaid.More from Personal Finance:New college grad job outlook looks promising for Class of 2021Biden tax plan may lead to more Roth retirement accountsMore colleges move to make vaccines mandatory for studentsIf adopted by Congress, Biden's budget would yield the largest one-time annual increase to the federal grants since 2009, according to the proposal, signed by Shal...

Biden consumer watchdog seeks delay of Trump-era debt collection rules

Finance
Ting Shen/Bloomberg via Getty ImagesThe Consumer Financial Protection Bureau proposed a delay Wednesday to two debt-collection rules issued in the waning days of the Trump administration.Those rules broadly addressed how debt collectors may communicate with and make disclosures to consumers.Kathy Kraninger, the former CFPB head during the Trump administration, said the measures helped keep consumers informed. Critics argue that some aspects of the plan give companies too much power and allow them to hound indebted Americans for payments.More from Personal Finance:Biden tax plan may lead to more Roth retirement accountsSocial Security beneficiaries received most of the recent $ 1,400 checksPPP loan money will likely run out before May 31 deadlineBoth measures — issued in October and Decemb...
Biden unveils ‘once in a generation’ spending plan

Biden unveils ‘once in a generation’ spending plan

World
ReutersUS President Joe Biden has called for trillions in spending aimed at re-igniting America's economic growth by upgrading its crumbling infrastructure and tackling climate change.The $ 2.3tn (£1.7tn) proposal would direct billions to initiatives such as charging stations for electric vehicles and eliminating lead water pipes.The spending would be partially offset by raising taxes on businesses.Those plans have already roused fierce opposition.Republicans have called the rises "a recipe for stagnation and decline", while powerful business lobby groups including the Business Roundtable and Chamber of Commerce said they supported investments but would oppose tax increases.The pushback is a sign of the tough fight ahead for the plan, which needs approval from Congress.Acrimony loomsJoe Bi...
Biden, CDC director warn of virus rebound if nation lets up

Biden, CDC director warn of virus rebound if nation lets up

Health
WASHINGTON -- President Joe Biden and a top health official warned Monday that too many Americans are declaring virus victory too quickly, appealing for mask requirements and other restrictions to be maintained or restored to stave off a “fourth surge” of COVID-19. The head of the CDC said she had a feeling of “impending doom” if people keep easing off.The double dose of warnings came even as Biden laid out hopeful new steps to expand coronavirus vaccinations, with all adults to become eligible over the next 5 weeks. Biden announced plans to expand the number of retail pharmacies that are administering vaccines, and investments to help Americans get to vaccination sites. But the optimism was tempered by stark warnings about the potential for another wave of cases.“This is deadly serious,” ...
Biden administration threatens tariffs on UK goods in ‘tech tax’ row

Biden administration threatens tariffs on UK goods in ‘tech tax’ row

Business
Getty ImagesThe US has warned it could put tariffs of up to 25% on a host of UK exports in retaliation for a UK tax on tech firms. Ceramics, make-up, overcoats, games consoles and furniture could all be hit, according to a list published by the Biden administration.The duties are designed to raise $ 325m (£235.8m), the amount the US believes the UK will raise from US tech firms. A UK government spokesperson said it wanted to "make sure tech firms pay their fair share of tax". They added: "Should the US proceed to implement these measures, we would consider all options to defend UK interests and industry."Washington is pressing ahead with the action, initiated under President Donald Trump, and has scheduled hearings on the list.It argues the recently introduced digital services tax - which...