Jthere are a lot of people in the United States having to watch their money right now, in part due to rising inflation and the ripple effects of the COVID-19 pandemic and the sanctions imposed on Russia . There are ways to increase your monthly payments Social Security payments, information about tax deadlineand if you could receive the supplement Child tax credit.
In this live blog, we will provide the latest financial news from the United States.
Joe Biden proposes removing Russia from the G-20.
In a huge economic blow to Russia, President Joe Biden has suggested they should be removed from G-20. This would deeply damage their economy, even more than the sanctions already imposed since the start of the invasion of Ukraine.
Airline CEOs call on President Biden to lift mask mandates.
Worried about the economic effects on their businesses, all US Airlines CEOs wrote a joint letter asking the President Joe Biden to lift federal mask mandates on planes. It’s part of what the letter said: ‘It makes no sense that people are still required to wear masks on planes, but are allowed to congregate in crowded restaurants, schools and at events. mask-free sporting events, although none of these venues have the protection We are encouraged by current data and the lifting of COVID-19 restrictions from coast to coast, which indicate that there is more than time to phase out COVID-era transportation policies”
Proposed Gas Reimbursement Bill
There are calls for a Gas Reimbursement Act take place if gasoline prices remain as high as they are now. This is from the Democrat politicians mike thompson, John Larsson and Lauren Underwood.
Their plan would send out checks worth $100 for singles earning less than $75,000 and worth $200 for couples earning less than $150,000.
Here you can learn more about some of the calls for a gas price check.
Inflation continues to rise and hits a four-decade high of 7.9%
The latest inflation figures show that the cost of living is becoming more and more expensive, with inflation having reached 7.9% for the 12 months ending in February 2022according to the consumer price index for all urban consumers (CPI-U).
This is, of course, a blow to the average American, whose food and fuel purchases are becoming more and more expensive.
You can read more here about the current rate of inflation and what is being done to combat it.
How to increase your Social Security monthly payments
There are several ways to get extra cash in your Social Security payments, with a popular option of pausing your monthly checks if you’ve reached full retirement age before resuming them later. The benefits you could get are up to eight percent.
The amount you receive from Social Security payments depend on how long you work and your earnings, so if you choose to return to work – depending on your health and fitness – you could increase your average. It’s important to keep in mind that you could end up going over the income limit, so be careful if this applies to you.
Learn more about the boost here Social Security payments.
Tax Deadline 2022
tax season is still happening in the US, but the deadline is fast approaching for many people. More than 62 million tax returns have already been processed by the IRS, but they warned that to avoid any delays, it’s best to try to file your return as soon as possible.
The date by which tax returns must be submitted varies depending on where you live in the United States, but the majority of people will need to have it sorted by Monday, April 18, 2022.
Learn more here about the tax deadline 2022.
Additional child tax credit
Many parents were left in the dark in the US after the expanded child tax credit program ended, despite hopes it would be extended through 2022, but you might get a little boost thumb thanks to Additional child tax credit.
For anyone who has found they owe the IRS less than their eligible child tax credit amount, you may be eligible to receive this amount of up to $1,400 per child.
Learn more here about the Additional child tax credit.