The federal government has loosened some rules governing electric vehicle tax credits, potentially making more EVs eligible for credits of up to $7,500.
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The plan announced Wednesday by President Joe Biden is expected to help 125,000 student loan borrowers by eliminating debt through existing programs.
Freddie Mac said the average rate on a 30-year home loan reached its highest level since 2002, which could increase costs for borrowers by hundreds of dollars a month.
The latest interest rate increase, though smaller than previous hikes, will likely further raise the costs of many consumer and business loans.
The increases cover IRAs as well as 401(k) and other retirement plans.
President Joe Biden on Wednesday will call on Congress to suspend federal gasoline and diesel taxes for three months — an election year move meant to ease financial pressures at the pump as the public is increasingly concerned about high gas prices and inflation.
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.
The Biden administration plans to freeze federal student loan payments through Aug. 31, extending a moratorium that has allowed millions of Americans to postpone payments during the coronavirus pandemic, according to an administration official familiar with the White House’s decision-making.