Senators reintroduce bipartisan retirement security package
A major bipartisan retirement security package has been reintroduced in the Senate.
The Retirement Security and Savings Act, sponsored by Sens. Rob Portman, R-Ohio, and Ben Cardin, D-Md., features more than 50 provisions aimed at getting people to save more for retirement.
The bill, a version of which was last introduced in 2019, would increase the tax credit for small business starting a new retirement plan, raise the catch-up contribution limits to $10,000 from $6,000 for individuals over 60 with 401(k) plans, improve access to guaranteed lifetime income products and allow employers to make matching contributions to retirement accounts of employees paying off qualified student-loan debt.
Top Democrats pile on campaign to make child tax break that was expanded now permanent
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Top Democrats pile on campaign to make child tax break that was expanded now permanent
washingtontimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtontimes.com Daily Mail and Mail on Sunday newspapers.
Tuesday, May 11, 2021
In a surprising announcement last week, the United States (US) reversed course on its position towards the COVID-10 TRIPS Agreement waiver negotiations, saying it would negotiate a waiver at the World Trade Organization (WTO). US Republican lawmakers and the pharmaceutical industry pushed back on the decision, warning it would allow the People’s Republic of China (“China”) to gain access to American innovation. Meanwhile, tension between the United Kingdom (UK) and the European Union (EU) flared this past week over fishery rights with an English Channel island, Jersey. The UK hosted Group of Seven (G7) meetings and focused on climate change, Viet Nam and India. And the European Commission released its long-anticipated proposed regulation related to distortive foreign subsidies, along with its update to the EU’s Industrial Strategy.
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Congress is renewing its scrutiny of the nursing home industry, arguing there is a lack of transparency around the ownership and finances of chains, especially those owned by private equity.
About 40% of COVID-19 deaths in the U.S. occurred in nursing homes, partly due to the nature of congregate settings that make it hard to control the spread of infections. But Democrats want more information about the roles private equity and chain ownership of nursing homes plays in patient outcomes, pointing to studies that show more deaths and worse care in facilities owned by investors. We need better information about nursing home ownership and strong enforcement of nursing home quality standards, Sen. Elizabeth Warren (D-Mass.), a critic of private equity, told Modern Healthcare. This is why I intend to re-open my investigation of private equity-owned nursing homes so we can make progress on these issues.