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Biden is forgiving another $1.2 billion in student loan debt starting today

President Joe Biden is slated to announce Wednesday during his fundraising trip to Los Angeles that his administration will cancel another $1.2 billion in student loan debt — this time for about 153,000 borrowers. All of them have been approved for the shortened repayment period benefit under the Saving on a Valuable Education (SAVE) Plan.

White House preps new sanctions package against Russia after Navalny death

The Biden administration on Tuesday again urged U.S. House Republican leaders to hold an up-or-down vote on military assistance for Ukraine and said a new sanctions package against Russia is on the way, citing the death of Russian opposition leader Alexei Navalny as placing new pressure on Western democracies to rally against the military invasion.

Shapiro wants to tax skill games. He must first navigate Pa.’s wealthy, warring gambling interests.

As part of his budget pitch this year, Gov. Josh Shapiro says he wants to regulate and tax skill games to raise tens of millions of dollars in revenue.

In making this proposal, the Democrat wades into a years-old battle for dominance of the gambling industry, which last year contributed $2.3 billion in tax revenue to the commonwealth’s coffers.

Patients See First Savings From Biden’s Drug Price Push, as Pharma Lines Up Its Lawyers

President Joe Biden’s battle against high drug prices is mostly embodied in the IRA, as the law is known — a grab bag of measures intended to give Medicare patients immediate relief and, in the long term, to impose government controls on what pharmaceutical companies charge for their products. The law represents the most significant overhaul for the U.S. drug marketplace in decades.

Expanded child tax credit could be in place quickly if passed by Congress, IRS chief says

Internal Revenue Service Commissioner Danny Werfel told lawmakers on Capitol Hill Thursday that his agency is “poised to move quickly” on a bipartisan tax bill that would temporarily expand the child tax credit and revive several corporate tax breaks.

Still haggling over Delaware’s unclaimed property windfall, Pa. Treasury faces class-action suit

Pennsylvania Treasury spokesperson Erik Arneson said the states and MoneyGram are now working with the special master to work out the intricacies of a settlement, including how much Delaware should pay, how much MoneyGram should pay and what portion of the money owed should be repaid with interest. Treasurer Stacy Garrity estimated after the 2023 decision that Pennsylvania could receive nearly $19 million. Delaware’s total liability could top $400 million.