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Tag: shutdown

For the IRS, government shutdown 'could not have come at a worse time,' report says

For the IRS, government shutdown 'could not have come at a worse time,' report says

Finance
The longest government shutdown in history could not have come at a worse time for the IRS, the National Taxpayer Advocate has told Congress. The IRS was heading into its first filing season under the massive new tax law when the federal government partially closed. Among the changes was the raising of the standard deduction for married couples to $ 24,000 from $ 13,000, and to $ 12,000 for individuals, from $ 6,500. Personal exemptions were also eliminated. "It was the biggest change in 30 years," said Gary Milkwick, chief product officer at 1800Acco...
US shutdown looms as border talks stall ahead of deadline

US shutdown looms as border talks stall ahead of deadline

World
Media playback is unsupported on your device US congressional talks over a border security deal have stalled raising the chances of another government shutdown.Negotiators were hoping for a deal by Monday to give Congress time to pass legislation by Friday, when the federal funding agreement runs out.They remain divided on how many undocumented immigrants can be detained and funding for President Trump's promised border wall with Mexico.The previous shutdown, lasting 35 days, was the longest in US history. Hundreds of thousands of workers were furloughed while others in essential services, such as hospital care, air traffic control and law enforcement, worked without pay.The cost to the US economy was estimated at $ 11bn (£8.5bn).It was ...
Next government shutdown: How to build a cash cushion when your income is cut off

Next government shutdown: How to build a cash cushion when your income is cut off

Finance
There's one thing the record 35-day government shutdown made clear: Americans aren't saving for a rainy day. "The partial government shutdown serves as a wake-up call that emergency savings must be made a more serious priority," said Mark Hamrick, senior economic analyst at Bankrate.com. Over three-quarters of all full-time workers are living paycheck to paycheck, according to a report from jobs site CareerBuilder. Just 40 percent of Americans are able to cover an unexpected $ 1,000 expense with their savings, according to a separate survey from pers...
US shutdown: Four reasons why Trump blinked

US shutdown: Four reasons why Trump blinked

Business
President Donald Trump's decision to endorse a deal to reopen the federal government for three weeks on Friday came amid mounting pressure to end the impasse.Here are four reasons from the business world why the White House blinked.1. The travel industry was stressed.Delays at major airports on Friday brought to a head issues that had been affecting airports for weeks.The issues were blamed on staff shortages, as air traffic controllers and screening officers - who have been working without pay since the start of the shutdown in December - failed to report for duty.Among Transportation Security Administration officers, unexpected absences had more than doubled from a year ago, to more than 7%, with many citing "financial limitati...
US shutdown: Trump angered by Democrats' rejection of 'compromise'

US shutdown: Trump angered by Democrats' rejection of 'compromise'

World
Media playback is unsupported on your device US President Donald Trump has attacked Democrats for rejecting his proposals to end the longest government shutdown in US history.He said his plans had been dismissed before he had even presented them.Mr Trump had offered "compromises" in exchange for funding for his security wall along the Mexican border, the issue that has caused the shutdown.But Democrats called the proposals "unacceptable", a "non-starter" and "hostage taking".There were two main offers in an address Mr Trump made on Saturday: Some 700,000 so-called Dreamers, who were young when they entered the US illegally with their parents, would be protected for another three years Some 300,000 people holding visas under Temporary Protectio...