In the News: Texas Conservative Judge blocks Biden administration’s rule to expand overtime pay for millions

I know that many people want to bury their heads and ignore what happens in this country, but to make better voting choices, you NEED to read what's happening, and if YOU get Overtime Pay, or think you deserve it, this article affects YOU. This is what happens when conservative judges appointed by Republicans make decisions for Americans. A Texas Judge ruled "The U.S. Department of Labor could not prioritize employee wages over job duties when determining eligibility." So, despite President Biden's push to take care of workers like you, another conservative blocked it.  Next time people, vote with intelligence. BTW- Trump's Project 2025 allows employers to avoid paying it. That's today's blog.

 

Judge blocks Biden administration’s rule to expand overtime pay for millions

By WYATTE GRANTHAM-PHILIPS, AP News, November 15, 2024

NEW YORK (AP) — A federal judge in Texas has blocked a new rule from the Biden administration that would have expanded access to overtime pay to millions more salaried workers across the U.S.

On Friday, U.S. District Judge Sean Jordan sided with the state of Texas and a group of business organizations that argued the Labor Department exceeded its authority when it finalized a rule earlier this year to significantly expand overtime pay for salaried workers — ruling that the department could not prioritize employee wages over job duties when determining eligibility.

Under federal law, nearly all hourly workers in the U.S. are entitled to overtime pay after 40 hours a week. But many salaried workers are exempt from that requirement — unless they earn below a certain level.

The Labor Department’s now-scuttled rule would have marked the biggest increase to that cap in decades. Employers were required to pay overtime to salaried workers who make less than $43,888 a year in certain executive, administrative and professional roles as of July 1 — and that was set to rise to $58,656 next year.

The Labor Department estimated that an additional 4 million lower-paid salary workers would become eligible for overtime protections in the first year under the new rule. An additional 292,900 higher-compensated workers were also expected to get overtime entitlements through separate threshold increases.

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PROJECT 2025 ADVERSELY AFFECTS OVERTIME PAY MORE - "The 900-page document outlines plans for a sweeping overhaul of overtime protections that would give employers ways to avoid paying overtime to workers who have long qualified for time-and-a-half pay after 40 hours."  Source: USA TODAY

Hero of the Week: The Internal Revenue Service Recovers 1 BILLION from Millionaire's late taxes

Imagine finally getting millionaires to pay their fair share of taxes. It just happened. Here's an unusual Hero of the Week for you! The IRS!! Yes, the Internal Revenue Service. They finally caught up with a lot of millionaires who skipped paying taxes like you and me. They recovered ONE BILLION DOLLARS that goes back into the U.S. This is due to efforts by the current Administration. (BTW, In November, remember that Trump and the Republican party want to Cut the IRS, which would prevent this from happening - NOT SMART). But this is about the weekend's heroes, so here's the story.

(Image: Wally West, The Flash, worked for the IRS in an issue of the comics.  Credit: DC Comics)

IRS recovers $1B in crackdown on taxes owed by millionaires

Federal News Network, July 11, 2024

The IRS has collected $1 billion in overdue tax revenue, after launching a crackdown on millionaires not paying what they owe.

The agency last fall announced it was going after 1,600 wealthy individuals with more than $1 million in annual income and more than $250,000 in tax debt.

IRS Commissioner Danny Werfel told reporters that audit rates for high-wealth individuals and complex partnerships fell over the last decade and have been at “historic lows.”

      "Werfel said that before the (Biden) Inflation Reduction Act, IRS employees were “stretched too thin to get to all these cases.”"

But the IRS is tapping into tens of billions of multi-year modernization funds in the Inflation Reduction Act to rebuild its workforce and beef up its enforcement operations.

“Our message for these taxpayers is that now that we are resourced, we can do the job of ensuring that they pay,” Werfel said in a call Wednesday.

Treasury Secretary Janet Yellen called the initiative a “huge success,” and said the IRS has “shown that it can successfully launch strategic new initiatives and achieve the greatest return on investment.”

Yellen said that if the IRS can sustain ongoing enforcement, technology and data investments it will be able to recover an additional $851 billion in additional revenue over the next decade.

Werfel said that before the (Biden) Inflation Reduction Act, IRS employees were “stretched too thin to get to all these cases.”

“Too often during the past decade, the IRS didn’t have the resources or staffing to pursue high-income earners who our compliance teams knew owed taxes,” Werfel said. “The tax bill wasn’t even in dispute. The taxes were clearly owed by these people, but we didn’t have the people or the resources to follow up with them.”

The agency is using artificial intelligence tools to help identify high-income individuals and businesses that are not paying what they owe.

“AI will help us ensure that we are not reaching out to taxpayers that are following the rules. It helps us be more precise in reaching out to those taxpayers that are most likely not playing by the rules,” Werfel said. “And this will create less stress for taxpayers who don’t want to get a letter from the IRS, especially if they’re playing by the rules. And it will provide more value to the taxpayers, because we will have better precision in who to reach out to make sure they’re paying their debts on time.

Werfel said the agency is also ramping up hiring to build out its enforcement capabilities.

FUN SIDE NOTE IF YOU READ THIS FAR; - There's a Comic Book story of how The Flash worked for the IRS (in one issue): https://www.cbr.com/flash-irs-agent-internal-revenue-service-wally-west/   

GOOD NEWS -Overdraft fees could drop to as low as $3 under new Biden proposal

If you've ever accidentally overdrawn your checking account, and don't have a protection plan in place- like an automatic transfer from your savings account,  then you know Bank Overdraft fees can be Expensive!! Typically, large banks charge $35 per transaction in the event of an overdraft. Based on research conducted by the Consumer Financial Protection Bureau, the average U.S. consumer pays over $250 annually on overdraft fees. NOW, the Biden Administration is trying to Cut those Overdraft Fees! Here's the story from the Associated Press.

Overdraft fees could drop to as low as $3 under new Biden proposal 

Associated Press, Jan 18, 2024

The cost to overdraw a bank account could drop under a proposal announced by the White House, the latest effort by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck. Read more.

Why this matters:

Overdraft fees have been a financial bonanza for the banking industry, with the Consumer Financial Protection Bureau estimating that banks collected $280 billion from the fees in the last 20 years. The banking industry is expected to fight the new regulation vigorously to protect the fee revenue.

CFPB research has shown that overdraft fees overwhelmingly impact the poor and households of color. Biden has made the elimination of “junk fees” one of the cornerstones of his administration’s economic agenda, while banks have argued that government regulations on overdrafts could cause them to eliminate the service altogether.

An Historic Reminder of the U.S. Economy in Last 3 Years, VS. the 4 Years before

Today's blog is an historic reminder of all the good things that have transpired in the last 3 years here in the U.S. and reasons why we should keep it going. At the bottom of the blog, you'll see just one of 1,000 reasons from the 4 years before that, that should warn you never to revisit that period. 

So much of what has happened during Joe Biden’s presidency is so unknown to so many when they are so obvious. Take a look at the last 3 years:

• The recession everyone predicted a year ago didn't happen. Instead, those same economists are praising the Federal Reserve for a now-likely soft landing for the economy, a remarkable achievement that will be studied for years.
• Record job creation for a president’s first term, nearly 15 million so far.
• An unemployment rate that continues to hover at a 50-year low of 3.7%, down from the 8.6% that Biden inherited from Trump.
• Inflation is down almost 80% from what it was a year ago, sitting at 3.7%.
• GDP ran an extraordinary 5.4% last quarter.
• The Dow Jones on the day Trump lost in 2020: 26,800. Trump said the market would crash if Biden was elected. Today’s Dow: 37,000-plus.
•  Multiple bills have passed addressing infrastructure, manufacturing and technology creating so many Jobs, Repairing our Bridges, Roads, and more.
• For those who think the Presidency controls gasoline prices, it doesn't. But if you're one of them, In 2023, the average price of gas was $3.52 a gallon. In 2022, it was $3.95 a gallon. That’s an 11% drop. The current national average? Just over $3 per gallon.  

These are numbers that affect everyone. How does anyone miss these tidbits of information?  

Trump’s major achievements? 

• An almost $2 trillion tax break that benefited corporations and the wealthy, INCREASING THE FEDERAL DEFICIT BY  30%. 
• The growth in the annual deficit under Trump ranks as the third-biggest increase in the nation’s history.

GOOD NEWS : The US didn’t just avoid a recession — it’s adding hundreds of thousands of new jobs

 We all like to hear Good news instead of bad, and you have to look no further than our own U.S. Economy. The Associated Press published the story last week, and here it is for you (BTW, People on the opposite side of the political fence - Republicans- are crying about illegal immigration to ignore how well the U.S.A. is doing on its own. That's not to say immigration isn't an issue, but it's ALL parties' issue.). Meanwhile, I'll relish the good news!

(Photo: Tyler Reynolds of Old Hickory BBQ, Kentucky. Credit: Greag Eans, Messenger-Inquirer via AP) 

The U.S. didn’t just avoid a recession — it’s adding hundreds of thousands of new jobs

BY PAUL WISEMAN , Associated press  Updated 12:12 PM EST, February 2, 2024 

WASHINGTON (AP) — The nation’s employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy’s continuing ability to shrug off the highest interest rates in two decades.

Friday’s government report showed that last month’s job gain — roughly twice what economists had predicted — topped the December gain of 333,000, a figure that was itself revised sharply higher. The unemployment rate stayed at 3.7%, just above a half-century low.

Wages rose unexpectedly fast in January, too. Average hourly pay climbed a sharp 0.6% from December, the fastest monthly gain in nearly two years, and 4.5% from January 2023. The strong hiring and wage growth could complicate or delay the Federal Reserve’s intention to start cutting interest rates later this year. 

The latest gains showcased employers’ willingness to keep hiring to meet steady consumer spending. It comes as the intensifying presidential campaign is pivoting in no small part on views of President Joe Biden’s economic stewardship. Public polls show widespread dissatisfaction largely because even though inflation has sharply slowed, most prices remain well above pre-pandemic levels. Some recent surveys, though, show public approval gradually improving.

Need Some GOOD NEWS? Look at the Current U.S. Economy!

 Need Some GOOD NEWS? Here's a check on the U.S. Economy (sorry, GOP and Trump, it's the opposite of a disaster. In fact, it's darn good!).

Good News! LEARN ABOUT: 7 Passed Laws That Help Everyone!

I put a LOT of work and research into today's blog to make it easy for YOU to understand 7 helpful pieces of legislation that were passed over the last 2 years.    **PLEASE Take the time to read this and share it** 

    This is how the government is supposed to work. Both sides coming together to make things happen to benefit the people throughout the country.   Today's GOOD NEWS blog is a list of them, followed by a summary of what they DO! - 

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According to NBC News,  President Biden has racked up more bipartisan legislative victories than nearly anyone expected two years ago. 

The list includes: 

1) Infrastructure Package  

2) CHIPS and Science Act, 

3) Large Expansion of Veterans Benefits in the PACT Act, 

4) Reauthorization of the Violence Against Women Act, 

5) Bipartisan Safer Communities Act 

6) Postal Service Reform Act 

7) Respect for Marriage Act

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WHAT DOES IT DO / WHAT ARE THE BENEFITS? 

1) Infrastructure Law- It makes our communities safer and our infrastructure more resilient to the impacts of climate change and cyber-attacks, with an investment of over $50 billion to protect against droughts, heat, floods and wildfires, in addition to a major investment in weatherization. new roads, bridges and other construction projects, basic materials, industrials and transportation.  it will add on average 1.5 million jobs per year for the next 10 years. 

2) The CHIPS and Science Act -  Lower Costs, Create Jobs, Strengthen Supply Chains, and Counter China. It has strengthened American manufacturing, supply chains, and national security, and invest in research and development, science and technology, and the workforce of the future to keep the United States the leader in the industries of tomorrow, including nanotechnology, clean energy, quantum computing, and artificial intelligence.

3) The PACT Act and Veterans Benefits- President Biden has signed into law over 25 bipartisan bills that address some of the most important issues facing veterans today, including the landmark PACT Act to address toxic exposures. On education, housing, and health care 

A) Since enactment, more than 137,000 toxic exposure-related claims have been filed and more veterans are now eligible for health care.

B) 31 new clinical sites will be opened and more providers hired to deliver the care. 

C) The Department of Defense (DOD) also announced updates to its policies related to burn pits – thereby decreasing exposure for troops in the future. 

D)  VA awarded $52 million in grants for 80 community-based organizations to deliver or coordinate suicide prevention programs and services for veterans and their family members. E) In July, 2022 the 988 Veterans Crisis Line went live to provide veterans and their loved ones an easy to remember number to help veterans in crisis.

F) The number of veterans experiencing homelessness declined by 11% between 2020 and 2022 – the largest decline in the last five years 

G)  The U.S.is on track to permanently house 38,000 veterans in 2022 alone.

H)  VA awarded $130 million to support programs to help veterans and their families find stable housing.**

4) Reauthorization of Violence Against Women Act - Biden wrote and championed the groundbreaking Violence Against Women Act (VAWA) as a U.S. Senator, landmark legislation that first passed in 1994.  In the nearly three decades since, he has worked with Members of Congress from both parties to pass legislation to renew and strengthen VAWA three times: in 2000, 2005, and 2013.

A) Increased funding for domestic violence and sexual assault services 

B) Reformed the military justice system to address sexual assault, harassment, and related crimes 

C) Ended forced arbitration for sexual assault and harassment

D) Directed action to protect students from campus sexual assault. 

E) Increased resources for survivors of crime, including gender-based violence. 

F) Prioritized the crisis of Missing or Murdered Indigenous People, including gender-based violence. 

G) Strengthened regional leadership on violence against Indigenous women and girls.

5) the Bipartisan Safer Communities Act  A) the first major legislation to address gun violence in nearly three decades B) New Innovation Agenda Will Electrify Homes, Businesses, and Transportation  C) Lower Energy Bills D)  Achieve Climate Goals

6) the Postal Service Reform Act - establishes the Postal Service Health Benefits Program, repeals the prefunding requirement related to Postal retirement benefits, makes reforms to nonpostal and postal services, among other things. 

 7)  Respect for Marriage Act - A) will give peace of mind to millions of LGBTQI+ and interracial couples who are now guaranteed the rights and protections to which they and their children are entitled. B) Establishes statutory authority for same-sex and interracial marriages and repeals provisions of law that once prevented any State or territory from being required to give effect to a same-sex marriage from another State or territory. C) The act allows the Department of Justice to bring a civil action and establishes a private right of action for violations.

GOOD NEWS- Biden Signed into Law: Help for Health & RX costs, Climate change, Consumer Tax Breaks

Great news for so many millions of people-  President Biden (thanks to the Democratic Senate and House) signed into law a $280B research and development bill, including more than $50B to support US semiconductor chip manufacturing; AND it allows Medicare to negotiate drug prices  (more on that next week). Sadly, there were some additional great benefits that the republicans took out of it. But, focus on the good news!

What’s in, and out, of Democrats’ inflation-fighting package

By LISA MASCARO

Source: Associated Press, July 28, 2022

WHAT'S INCLUDED

LOWER PRESCRIPTION DRUG COSTS

Launching a long-sought goal, the bill allows the Medicare program to negotiate prescription drug prices with pharmaceutical companies, saving the federal government some $288 billion over the 10-year budget window.

Those new revenues would be put back into lower costs for seniors on medications, including a $2,000 out-of-pocket cap for older adults buying prescriptions from pharmacies.Money would also be used to provide free vaccinations for seniors, who now are among the few not guaranteed free access, according to a summary document.

HELP PAY FOR HEALTH INSURANCE

The bill extends the subsidies provided during the COVID-19 pandemic to help some Americans who buy health insurance on their own. Under earlier pandemic relief, the extra help was set to expire this year. But the bill would allow the assistance to keep going for three more years, lowering insurance premiums for people who are purchasing their own health care policies.

‘SINGLE BIGGEST INVESTMENT IN CLIMATE CHANGE IN U.S. HISTORY’ 

The bill invests $369 billion over the decade in climate change-fighting strategies including investments in renewable energy production and tax rebates for consumers to buy new or used electric vehicles.

It’s broken down to include $60 billion for a clean energy manufacturing tax credit and $30 billion for a production tax credit for wind and solar, seen as ways to boost and support the industries that can help curb the country’s dependence on fossil fuels. 

TAX BREAKS FOR CONSUMERS

For consumers, there are tax breaks as incentives to go green. One is a 10-year consumer tax credit for renewable energy investments in wind and solar. There are tax breaks for buying electric vehicles, including a $4,000 tax credit for purchase of used electric vehicles and $7,500 for new ones. In all, Democrats believe the strategy could put the country on a path to cut greenhouse gas emissions 40% by 2030, and “would represent the single biggest climate investment in U.S. history, by far.”

HOW TO PAY FOR ALL OF THIS?

The biggest revenue-raiser in the bill is a new 15% minimum tax on corporations that earn more than $1 billion in annual profits. It’s a way to clamp down on some 200 U.S. companies that avoid paying the standard 21% corporate tax rate, including some that end up paying no taxes at all. The new corporate minimum tax would kick in after the 2022 tax year and raise some $313 billion over the decade.

Money is also raised by boosting the IRS to go after tax cheats. The bill proposes an $80 billion investment in taxpayer services, enforcement and modernization, which is projected to raise $203 billion in new revenue — a net gain of $124 billion over the decade.

The bill sticks with Biden’s original pledge not to raise taxes on families or businesses making less than $400,000 a year.

The lower drug prices for seniors are paid for with savings from Medicare’s negotiations with the drug companies.

EXTRA MONEY TO PAY DOWN DEFICITS

With $739 billion in new revenue and some $433 billion in new investments, the bill promises to put the difference toward deficit reduction.

Federal deficits have spiked during the COVID-19 pandemic when federal spending soared and tax revenues fell as the nation’s economy churned through shutdowns, closed offices and other massive changes. The nation has seen deficits rise and fall in recent years. But overall federal budgeting is on an unsustainable path, according to the Congressional Budget Office, which put out a new report this week on long-term projections.

WHAT THE REPUBLICANS REFUSED TO INCLUDE 

 Among them, a continuation of a $300 monthly child tax credit that was sending money directly to families during the pandemic and is believed to have widely reduced child poverty. Also gone, for now, are plans for free pre-kindergarten and free community college, as well as the nation’s first paid family leave program that would have provided up to $4,000 a month for births, deaths and other pivotal needs.

Biden Admin. Helps Millions of Trump Supporters : Baby Formula, Family Visits

    I recently had an event in central Pennsylvania near Gettysburg, and there were a lot of hateful flags hanging from houses and bumper stickers on cars that had vulgarities against President Biden. Well, those people need to take a look at things he's done to help them and change their Fox-news influenced attitude based on falsehoods. 

    The Biden Administration last week invoked the "Defense Production Act" to increase Baby Formula supplies. That affects anyone of any political party. Further- there are millions of Cuban-Americans in Florida who did Not vote for Biden, yet, he has opened the doors for them to NOW resume family visits with their relatives in Cuba (Reversing the Trump policy - which blocked them from seeing loved ones. Seriously- they voted Trump and against themselves). So, if you're a Republican, or you didn't vote for President Biden, know that he is helping you. STORY>>> 

1) BIDEN ADMINISTRATION INVOKES DEFENSE PRODUCTION ACT IN ATTEMPT TO INCREASE SUPPLIES OF BABY FORMULA • President Joe Biden is requiring suppliers to direct ingredients used in baby formula to key manufacturers to help boost domestic production. • Biden has also ordered the federal health and agriculture departments to use Defense Department aircraft to pick up infant formula from overseas. • Parents have been struggling to buy formula for their infants since the closure of a key manufacturing facility in Michigan due to bacterial contamination. STORY: https://www.cnbc.com/2022/05/18/biden-invokes-defense-production-act-to-address-infant-formula-shortage.html WHY HE IS USING THE ACT: https://www.washingtonpost.com/politics/2022/05/19/baby-formula-shortage-defense-production-act/

2) Ironically, Cuban Americans in FLORIDA did NOT vote for Joe Biden yet HE is the President that allows for family reunions (Trump didn’t)

Reversing Trump measures, U.S. will expand flights to Cuba and resume family reunifications

MICHAEL WILNER AND NORA GÁMEZ TORRES MAY 17, 2022 4:24 PM\Miami Herald Newspaper -

The Biden administration is restoring flights to Cuban cities other than Havana and reestablishing a family reunification program suspended for years, following recommendations of a long-anticipated review of U.S. policy toward Cuba, senior administration officials told McClatchy and the Miami Herald on Monday. The administration will also allow group travel for educational or professional exchanges and lift caps on money sent to families on the island. 

 Read more at:   https://www.miamiherald.com/news/nation-world/world/americas/cuba/article261493517.html