Economy
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Biden caps credit card late fees at $8
More than 45 million Americans who are charged late fees on credit cards each year will save an average of $220 annually under the new rule.
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Biden demands grocery stores and food brands end ‘price gouging’ and ‘shrinkflation’
Grocery prices have risen by more than 20% since the beginning of the pandemic and in Arizona, grocery prices rose 3.3% from Nov. 2022 to Nov. 2023. In response, President Biden is demanding grocery chains and food brands lower their prices and stop ripping families off.
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Biden policy to help IRS collect up to $851 billion in back taxes from ultra-wealthy
Using funds provided by the 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. The IRS could collect as much as $851 billion in additional tax revenue over the next decade.
