Democratic Senator Pat Leahy bluntly told GOP Senators that Democrats are blocking $4.5 billion needed to manage the Central American migration emergency until Republicans submit to their pro-migration demands. “We’re willing to put [up] the money,” the Vermont Senator said at the June 11 hearing at the Senate’s judiciary committee. But, he added: Now whether a supplemental gets done is up to the administration. If they continue to block bipartisan legislation, nothing happens. I hope the Republicans will finally realize we have to do this, Republicans and Democrats, together … We want long term solutions. The May 1 funding request sought $3.3 billion to process and temporarily house many thousands of so-called “Unaccompanied Alien Children,” plus $2.2 billion for border agencies to register, shelter, and transport the huge flow of migrants as they walk through the catch-and-release loopholes at the border. “The border is at its … [Read more...] about Democrats Block Emergency Funding for Border Crisis
Invest emergency fund
Financial emergencies can really throw us off course, whether they come in the form of a sudden home repair, vehicle issue, or medical bill. That's why we're told to put together some emergency savings -- ideally, enough money to pay for three to six months of essential living expenses. Furthermore, that money should be stored in the bank, where its principal is protected and it's easily accessible. Now if you have no money to your name whatsoever, you should start building some savings. But if you happen to have money in a 401(k) plan through work, you may be wondering whether you really need an emergency fund. After all, why push yourself to sock away money in the bank when you're sitting on thousands of dollars in retirement cash? But while the idea of tapping your 401(k) to cover emergencies might seem like a reasonable one in theory, it's quite a harmful one in practice. Continue Reading Below The dangers of early 401(k) withdrawals Workers who save in a traditional 401(k) get … [Read more...] about Can Your 401(k) Serve as Your Emergency Fund?
Almost twenty percent of the value of Indian airline Jet Airways was wiped away at one stage Tuesday, following uncertainty over lifeline funding needed to keep planes flying. The airline has run out of cash, forcing pilots to go without salaries for months and causing failed payments to companies that lease aircraft, as well as defaults on other loans. As the cash crunch has worsened, the airline's fleet has shrunk to seven aircraft from 119, as unpaid leasing companies who own the planes take back the aircraft. Shares in the carrier have fallen by more than 60 percent in the last 12 months. The airline's board has been hoping to secure 15 billion rupees ($215 million) in emergency funding and it is being reported by CNBC-TV18 that the board of Jet Airways has asked CEO Vinay Dube to plead one last time to lenders. Without a credit lifeline, it is understood operations will have to be temporarily shut down. The carrier, which was founded more than 25 years ago, has already suspended … [Read more...] about Jet Airways stock suffers heavy losses on doubts over emergency funding
Top Ohio Republicans are joining Democrats in pushing Gov. John Kasich to declare Ohio's heroin and opioid epidemic a statewide emergency. The announcement came on the same day as a report from the U.S. Surgeon General calling addiction a moral issue for Americans that has a greater economic impact than other prevalent diseases, like diabetes. The push both at the state and federal level comes amidst rocketing drug overdose deaths — every 19 minutes, an American dies of an opiate or heroin drug overdose. In 2015, more than 3,000 Ohioans — roughly 8 people a day — died from an unintentional drug overdose. That number is expected to be even higher this year as powerful synthetic opiates are being cut into heroin. In August, Democratic lawmakers called on Kasich to address the historic number of Ohioans dying from opioids and heroin by declaring a statewide emergency or releasing emergency funding for first responders, law enforcement and … [Read more...] about Ohio GOP joins push for opioid emergency
There is a common theme running through the minds of the people managing the finances of our state’s cities, towns and counties: we can’t go on like this much longer. Michigan’s local communities are being hit hard by a state funding system that is fundamentally flawed. While belt-tightening and penny-pinching have kept most communities from going bankrupt, there is only so much we can cut. We all need action from Lansing. The problem is a systemic one. Local municipalities have limited sources of financing—revenue sharing from the state, property taxes for local homeowners and business owners, and income taxes. At the heart of the matter is that revenue sharing has not kept pace with the basic needs of local communities. Since 2002, more than $8.6 billion in taxes collected from residents have been directed away from the services our cities and villages provide and toward plugging budget holes in state government. There is no corner of Michigan that … [Read more...] about An open appeal to state lawmakers: It’s time to invest in Battle Creek