Amid ongoing debates over federal and state budgets, a proposed $200 million funding cut threatens to significantly diminish homeless assistance programs nationwide by 2026. The potential reduction is part of broader fiscal adjustments aimed at curbing federal spending, but advocates warn it could reverse gains made in recent years to combat homelessness. The proposed cut,...

Taxpayers planning for 2026 should prepare for significant changes to the federal tax landscape, as the Biden administration’s proposed reforms include the elimination of several popular deductions that have historically provided substantial relief. Among these is a widely utilized $3,000 deduction for charitable contributions, which is set to disappear under new tax policies aimed at...

Recent policy discussions and legislative proposals threaten to significantly alter Americans’ healthcare affordability, with estimates suggesting that ending the current Affordable Care Act (ACA) tax credits could lead to an average monthly increase of approximately $1,000 in healthcare costs for many households. These tax credits, initially introduced to reduce premiums for millions of Americans, have...

As federal and state policymakers grapple with mounting budget pressures, an impending wave of potential Medicaid cuts threatens to impact nearly five million Americans who rely on the vital health coverage program. Estimates suggest that these reductions could total up to $X billion over the coming fiscal period, prompting concerns over increased uninsured rates and...

Washington County has received a total of $3,413 in new tax relief as a result of recent legislation enacted during the Trump administration. The funds are part of a broader federal effort aimed at providing financial relief to local governments impacted by recent economic shifts. County officials expressed optimism about the additional resources, emphasizing their...

Legislation passed earlier this year has increased the standard Senior Tax Deduction from $4,000 to $6,000, providing a notable financial benefit for Americans aged 65 and older. This adjustment, part of broader efforts to support the aging population, aims to alleviate tax burdens and enhance disposable income among seniors. The revised deduction applies to eligible...

Homeowners and taxpayers across several states may find themselves with potential savings exceeding $1,240 annually under the newly proposed SALT (State and Local Tax) regulations. The updated framework, announced by the Internal Revenue Service (IRS), aims to address longstanding disparities in how state and local taxes are deducted on federal returns. While the changes are...

Immigrant households across the United States are confronting the prospect of significant reductions in their Supplemental Nutrition Assistance Program (SNAP) benefits, with some facing potential cuts of up to $4,000 annually. Recent federal policy proposals and administrative adjustments aim to tighten eligibility criteria, disproportionately affecting immigrant families who rely on SNAP for essential nutrition. Experts...

The Internal Revenue Service (IRS) has announced a significant update to the transit benefit program for the upcoming year. Starting in 2025, the maximum pre-tax transit benefit employees can set aside through employer-sponsored plans will be capped at $325 per month. This adjustment, a notable increase from the prior limit of $300, aims to accommodate...

Families participating in the Women, Infants, and Children (WIC) program could face a significant reduction in monthly support if federal funding for the initiative lapses in the coming weeks. Estimates suggest that approximately $440 per month in assistance could be lost for each eligible household, impacting thousands of low-income families across the country. The impending...