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American Finances Updates: Stimulus Checks, UBI Program, Child Tax Credit… – Marca English

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Our live blog this Thursday, May 19, will keep you in the loop with the latest news on stimulus check programs, tax refunds, child tax credit payments and much more, as well as various money-saving tips
Women are still paid 83 cents for every dollar men earn. Here’s why
In 2020, women made 83 cents for every dollar earned by men, according to the U.S. Census Bureau. Women of color are at an even greater disadvantage.
The gender wage gap was much larger in 1960, when women’s pay was 61% of men’s. But progress has stalled over the last 15 or more years, according to researchers.
Lower pay contributes to lower lifetime earnings and less overall wealth.
Here’s the most clear-cut measure of the disparity: In 2020, women made 83 cents for every dollar earned by men, according to the U.S. Census Bureau. (The analysis measures median wages for full-time, year-round workers 15 years and older.)
Put differently: It would take some 40 extra days of work for women to earn a comparable wage.
U.S imports of Latam oil soar as refiners replace Russian barrels
U.S. refiners imported about 1.3 million barrels per day (bpd) of crude and fuel oil from Latin America in April, the highest in seven months according to U.S. Customs data, as buyers began replacing Russian supplies.
The United States in March banned imports of Russian crude and refined products over its invasion of Ukraine, setting April 22 as end date for purchases. Treasury Secretary Janet Yellen urged companies to adopt “friend-shoring” supply networks, or buying from trusted countries.
Russia supplied about 135,000 bpd, or 5.5% of total U.S. crude imports last year, and 155,350 bpd, or 29%, of fuel oil imports, according to Customs data on Refinitiv Eikon. Russian crude imports touched a record high in 2021 after hurricanes disrupted production, data from Energy Information Administration.
Imports of fuel oil from Latin America averaged some 200,000 bpd in March and April, 49% higher than in the previous 12 months. Mexico’s share of U.S. fuel oil imports climbed to about 27% in March and April, from 19% a year earlier, the data showed.
About 15 vessels discharged 159,000 bpd of Mexican fuel oil in Louisiana, California, Texas and Florida, supplying Exxon Mobil Corp , Chevron Corp and Marathon Petroleum Corp, among others.
Gas prices just hit a new record high. Here are a few ways to cut down the cost
As the summer driving season nears, gasoline prices show no signs of slowing down.
The national average for unleaded gas hit a new high of $4.59 per gallon Thursday, according to AAA. For the first time ever, the average price was $4 per gallon or above in all 50 states this week, AAA data shows. Last year at this time, the price was $3.04 per gallon.
Soaring prices for crude oil are largely to blame, the automotive group said. “The high cost of oil, the key ingredient in gasoline, is driving these high pump prices for consumers,” Andrew Gross, a spokesperson for AAA, said in a statement.
Heading into the summer driving season, which kicks off on Memorial Day weekend, higher prices may prompt travelers to take fewer trips and go shorter distances.
“Against a backdrop of gas prices that have continued to set new records ahead of Memorial Day, Americans have been resilient in their desire to hit the road, but we’re certainly seeing increased hesitancy due to rising prices at the pump,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
Wingstop is seeing ‘meaningful deflation’ in chicken wings, CEO says
Chicken wings prices have come down in price since soaring last year, Wingstop chief executive Michael Skipworth told CNBC’s Jim Cramer on Wednesday.
“Other brands are … going to have to look at pricing in order to manage their margins, and Wingstop is in a very different position in that we’ve seen meaningful deflation in our business. The price of wings last year .. hit $3.22 a pound, and we fast forward to today, and it’s $1.63 a pound,” Skipworth said in an interview on “Mad Money.”
“We’ve seen this in years before where a lot of businesses jump into wings [and] it drives the demand up. But as we sit here today, their businesses weren’t built to manage that volatility in the commodity, and so we’ve been able to weather that like we have in the past, and they’ve moved away,” he added.
Skyrocketing prices of ingredients and supply have put pressure on restaurants’ operations during the pandemic, forcing many to raise menu prices to offset the higher costs.
Skipworth, who became CEO of Wingstop in March, also credited high demand for chicken breasts as helping tamp down wing costs.
“There’s a lot of demand for breast meat, and breast meat is where these poultry companies make their profit, and so they’re growing as many birds as they can right now, which means a lot of supply for wings out there,” he said.
Dow, S&P 500 and Nasdaq end with back-to back losses following worst day in about 2 years
U.S. stocks gave up earlier gains to end lower Thursday, following the worst slide in nearly two years for the S&P 500 index in the previous session, leaving it down almost 19% from its record, or close to a bear market.
What happened
The Dow Jones Industrial Average DJIA, -0.75% fell 236.94 points, or 0.8%, ending at 31,253.13, after trading about 300 points higher in the session.
The S&P 500 SPX, -0.58% lost 22.89 points, or 0.6%, finishing at 3,900.79, after flipping between small gains and losses.
The Nasdaq Composite COMP, -0.26% shed 29.66 points, or 0.3%, closing at 11,388.50.
The Dow and S&P 500 also booked their lowest closes since March 2021, according to Dow Jones Market Data.
On Wednesday, the Dow Jones Industrial Average fell 1,165 points, or 3.6%, the S&P 500 declined 4%, and the Nasdaq Composite dropped 4.7%. The drop on Wednesday for the Dow and S&P 500 was the most since June 11, 2020.
The enhanced Child Tax Credit distributed last year as part of the American Recovery Plan was a lifesaver for many struggling families. Estimates of the credit’s impact reflect that child poverty was cut in half as a result of more than 24 million additional children becoming eligible for the benefit.
For all investors and those interested in cryptocurrencies, the Bitcoin slump continues, taking the digital token to a value below $30,000, quite far from the figures obtained in 2021.
After the positive 18 months that cryptocurrencies had with solid growth across the board, a variety of factors have caused the price to fall in recent months.
Even some investors consider the fluctuating prices positive, as they see them as an opportunity to take advantage of uncertainty, but the rapid devaluation looks like a hard blow to those who bet on cryptocurrencies.
https://twitter.com/spectatorindex/status/1525648957741084672
In case you were looking for this information, seek no further because we will tell you if it’s possiblt to apply for both the Supplemental Security Income (SSI) and the Supplemental Nutritional Assistance PRogram (SNAP) benefits at the same time. The short version is, yes you can apply for both.
But we are offering you a small guide that will make this request even easier than it appeared at first glance.
The trick is to apply for both at the same time during the exact moment in which you are applying for the SSI. When you are doing this first attempt to apply for it, the Social Security Administration (SSA) will automatically offer you the option to apply for SNAP in order to save time.
More information here.
According to the Federal Government, American citizens won’t see another round of stimulus checks.
However, several states, like Colorado, stood up and began helping their citizens. The Democratic governor Jared Polis announced legislation for fast-track relief payments to eligible residents.
More information here.
Despite the ongoing stock market volatility, the saving rate for 401(k) plans reached a record level of 14%, according to Fidelity Investments.
“We have more and more retirement savers not making changes based on short-term market events,” said Mike Shamrell, a Fidelity Investments spokesman. “They’re deciding to stay the course and taking a long-term approach.”
If you are a victim of the wildfires in New Mexico, you now have until August 31, 2022 to file your individual and business tax returns.
Ahead of the summer, there are some payment schemes in the U.S. that you can benefit from.
One of these is the New York universal basic income program, which will see 450 dollar payments sent out to 100 caregivers.
Read more here about UBI payments.
As part of the Colorado Cashback program, eligible residents in the state of Colorado will be able to receive 400 or 800 dollars depending on their filing status.
The payment is 400 dollars if you file individually, or 800 dollars if you file as a couple.
Read more here about the Colorado stimulus check.
If you are struggling to cover the cost of internet in the United States, you can get some help through the Affordable Connectivity Program.
This will help to provide a discounted price.
Read more here about the Affordable Connectivity Program.
There is an 850 dollar check on offer in the United States.
The only requirement is that you must have filed a state tax return.
Read more here about the summer stimulus check.
The rise in inflation and Russia’s invasion of Ukraine has resulted in the price of gas going up in the United States.
Therefore, it is important that you know where you can get gas for the cheapest price.
Read more here about gas prices in the US.
Hello everyone and welcome to this Thursday’s American Finances live blog. As we do every day in this space, we will keep you up to date with the latest financial news, benefits programs and money-saving tips from the United States.
Lots of states across the country are introducing stimulus check-like payments to residents, as they look to help low- and medium-income individuals and families cope with the rise in inflation and increased day-to-day expenses.
In addition, there will also be information regarding Universal Basic Income (UBI) payments, Child Tax Credit developments, tax refunds, and also some money-saving tips that could come in handy.
So, as we do every day, there is a lot that will be discussed on this Thursday’s live blog, as we look at the latest financial news in the U.S.
You can follow along with all of our updates, with the most recent ones coming nearest the top of this page.
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