How Obama Wants to Expand Earned Income Tax Credit

Feb 9, 2016, 3:57 pm EST

President Obama made a proposal Tuesday that would expand the earned income tax credit (EITC). Source: Flickr

The move would help low-income taxpayers and give a bigger boost to childless people. There are both Republicans and Democrats in Congress that back increasing the tax credit.

House of Representatives Speaker Paul Ryan favors expanding the credit as he deems it an incentive for pulling people into work. Read 

Michael Bloomberg May Run for President in 2016

Feb 9, 2016, 12:47 pm EST

Former NYC Mayor Michael Bloomberg has confirmed that he is interested in running for President in 2016.

Michael Bloomberg said that he was looking at running as an independent for the 2016 campaign. He’s reportedly waiting until March to announce his possible run and will do polling after New Hampshire to get an idea of the viability of a campaign, reports The New York Times.

“I find the level of discourse and discussion distressingly banal and an outrage and an insult to the voters,” Michael Bloomberg told NYT. Read 

Vice President Joe Biden Launches Facebook Page

Feb 4, 2016, 4:23 pm EST

Vice President Joe Biden has officially launched a Facebook (NASDAQ:FB) page. Source: Flickr

The move coincides with World Cancer Day and the 12th anniversary of Facebook. “Welcome to my Facebook page,” Biden announces in a video message.

Biden adds that he is the first vice president to have a Facebook page. “I’d like it to be a place where we can talk directly about the issues that matter to both of us,” he adds. Read 

Taxes 2016: IRS Shuts Down E-File Over Glitch

Feb 4, 2016, 10:39 am EST

The IRS has reported that it had to shut down its taxes e-file system over a glitch.

According to the IRS, there was a hardware failure on Wednesday evening that caused many of its systems to go offline. This included its e-file, Where’s My Refund and others.

The IRS notes that citizens can continue to prepare their taxes as normal and that their e-file provider will hold them until the problem is fixed. There’s also no concern for those who have already filed taxes. Read 

Rand Paul Drops Out of 2016 Presidential Campaign

Feb 3, 2016, 2:48 pm EST

Sen. Rand Paul has dropped out of the 2016 presidential campaign. Source: Flickr

The son of libertarian leader Ron Paul said he has been honored to run a principled campaign for the White House. “Today, I will end where I began, ready and willing to fight for the cause of Liberty,” Paul said.

The senator had a tough time keeping up with the likes of Sen. Ted Cruz and Donald Trump for the Republican presidential bid. Paul’s views on foreign policy were not embraced by Republicans. Read 

2016 Presidential Election: Who Won the Iowa Caucuses?

Feb 2, 2016, 11:21 am EST

Results from the Iowa caucuses are in and Republicans and Democrats have their winners from the vote.

The Iowa caucuses saw Republicans voting for Texas Sen. Ted Cruz as the victor. Donald Trump came in second and Florida Sen. Marco Rubio took the third place. Cruz’s win is a blow to Trump, who has been leading in statewide polls, reports CNBC.

Democrats had a harder time deciding their winner in the Iowa caucuses. Hillary Clinton and Vermont Sen. Bernie Sanders were caught in what Sanders called a “virtual tie.” However, Clinton was announced as the winner. Maryland Gov. Martin O’Malley suspended his campaign following the results, CNBC notes. Read 

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