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$500 million for the Social Security Administration to process disability and retirement backlogs; $201 million in additional funding for AmeriCorps and other community service organizations; $150 million for Urban and Rural economic recovery programs; $150 million for an increase of claims processing military staff
This tax holiday was intended as an economic stimulus by Obama and the Democrats, [3] with the value of boosting the disposable income of American families. [3] It would not worsen the Social Security program's financial strength, as the shortfall would be made up from general revenues. Some Republicans thus criticized the idea for increasing ...
Later in the day, President Obama signed an order putting the cuts into effect. He referred to them as being "deeply destructive". [49] March 6, 2013: The House of Representative passed a bill to extend the continuing resolution and to enable defense and veterans programs to adjust to the cuts brought on by sequestration. [50]
In February 2010, President Obama formed the bipartisan Bowles–Simpson Commission to recommend steps that could be taken to reduce future budget deficits. The commission released its report on November 10, 2010, which recommended deep domestic and military spending cuts, reforming the tax system by eliminating many tax breaks in return for lower overall rates, and reducing benefits for ...
A lot happened in the world of finances in 2021. The IRS continued issuing its second round of Economic Impact Payments in January and another round in March, and some states issued a fourth round ...
The Social Security Administration introduced cost-of-living adjustments (COLAs) in 1975 to help benefits maintain their buying power amid rising inflation. In fact, since 2010, Social Security ...
A number of corporate tax breaks were extended, including the "active financing" tax exemption for major corporations (cost $9 billion), [6] the New Markets Tax Credit Program (cost $1.365 billion annually), [7] a rum tax supporting Puerto Rico and Virgin Islands rum industry ($547 million in 2009), a tax benefit for NASCAR racetrack owners ...
Here is what the former presidents said about the life and legacy of Carter, the nation's 39th president who served in the White House from January of 1977 to January of 1981.