ECONOMY
Big corporations are suing to block Biden’s efforts to lower costs
| June 5, 2024
From the cost of medication to education to everyday expenses, the Biden administration has passed several laws and implemented many federal rules taking on giant corporations, but big businesses are fighting tooth and nail to protect their profits.
Millions of Americans could file their taxes for free starting in 2025
| June 3, 2024
The IRS’ Direct File program was rolled out on a limited basis in 12 states this past tax-filing season and saved 140,000 taxpayers who used it an estimated $5.6 million in filing costs. Now, the agency is looking to expand it nationwide.
Senate Democrats call for industry-wide investigation into Big Oil amid price-fixing and collusion allegations
| May 31, 2024
Senate Democrats joined their House counterparts in calling for an industry-wide investigation into Big Oil collusion and price-fixing allegations, which they say cost US consumers at the pump while driving up corporate profits.
Sick of absurd Ticketmaster prices? Biden’s DOJ is going after them
| May 23, 2024
The lawsuit is backed by attorneys general for 29 states plus Washington, D.C., and alleges that Live Nation leveraged its power as a venue owner, concert promoter, and ticket seller in order to lessen consumer choice, raise prices, and eliminate its rivals.
Price-fixing conspiracy in US oil industry cost families money, reports allege
| May 17, 2024
Analysis of corporate profits and accusations of collusion by the FTC lend support to the idea that a broader oil industry conspiracy drove up post-Covid inflation for everyday Americans.
The super rich and big corporations to face more scrutiny from Biden’s IRS
| May 13, 2024
Using an infusion of funds provided by President Biden’s Inflation Reduction Act, the IRS has already collected more than $520 million from 1,600 millionaires who had unpaid tax bills of more than $250,000.
Biden makes 4 million more workers eligible for overtime pay
| April 24, 2024
The US Department of Labor says updated regulations will increase income thresholds to ensure lower-income salaried employees are fairly compensated when they work more than 40 hours per week.
Biden administration bans noncompete clauses for workers
| April 23, 2024
The new rule bans new noncompete agreements for the vast majority of American workers and requires employers to let current and past employees know they won’t enforce them going forward. Companies will also be required to throw out existing noncompete agreements.