The Latest: Republicans unveil nearly $6 trillion tax cut
National / U.S. News / Uncategorized

The Latest: Republicans unveil nearly $6 trillion tax cut

WASHINGTON (AP) — The Latest on the Republican plan to overhaul the tax code (all times local): 8:20 p.m. President Donald Trump and congressional Republicans have unveiled the first major revamp of the nation’s tax code in a generation. The sweeping, nearly $6 trillion tax cut would deeply reduce levies for corporations, simplify everyone’s brackets … Continue reading

Local / National / Politics / U.S. News / Virginia

Federal judge declines to reconsider license suspension suit

LYNCHBURG, Va. (AP) — A federal judge has decided not reconsider a class-action lawsuit filed against the commissioner of Virginia’s Department of Motor Vehicles. The Daily Progress reports (http://bit.ly/2skpbzN ) Judge Norman Moon is standing by his decision to dismiss the case from federal court saying in a May 22 ruling that the issues were … Continue reading

Campus Life / Education

GAO: About $108 billion in student loan debt to be forgiven

WASHINGTON (AP) — The federal government is expected to forgive at least $108 billion in student loan debt as part of popular plans that tie repayment to borrowers’ earnings, congressional investigators said Wednesday. The Government Accountability Office reviewed income-driven repayment plans the government offers to students struggling to pay back federal student loans. The report, … Continue reading

Senator: Education Dept. mishandling Corinthian student debt
Education

Senator: Education Dept. mishandling Corinthian student debt

WASHINGTON (AP) — The Education Department is pursuing debt collection — rather than debt relief — for nearly 80,000 former students of Corinthian Colleges, despite federal and state findings that the now-defunct for-profit chain defrauded students, Sen. Elizabeth Warren said in a blistering critique of the administration’s actions. The Massachusetts Democrat reported the findings of … Continue reading

High court rules against Puerto Rico in debt case
International News / Latin America & the Caribbean / Politics

High court rules against Puerto Rico in debt case

WASHINGTON (AP) — Puerto Rico can’t use a local law to restructure the debt of its financially ailing public utilities as it tries to overcome a decade-long economic crisis, the Supreme Court ruled Monday. The 5-2 ruling said that federal bankruptcy law bars Puerto Rico from enacting its own law to restructure about $20 billion … Continue reading

Puerto Rico makes debt payment, warns of dwindling funds
Latin America & the Caribbean

Puerto Rico makes debt payment, warns of dwindling funds

SAN JUAN, Puerto Rico (AP) — Puerto Rico narrowly avoided a multimillion-dollar default on Tuesday by announcing a last-minute bond payment while warning that a deepening financial crisis has forced the government to divert money slated for future debt payments to avoid a shutdown of basic services. The announcement by Puerto Rico’s Government Development Bank … Continue reading

Puerto Rico makes debt payment, warns of dwindling funds
Latin America & the Caribbean

Puerto Rico makes debt payment, warns of dwindling funds

SAN JUAN, Puerto Rico (AP) — Puerto Rico narrowly avoided a multimillion-dollar default on Tuesday by announcing a last-minute bond payment while warning that a deepening financial crisis has forced the government to divert money slated for future debt payments to avoid a shutdown of basic services. The announcement by Puerto Rico’s Government Development Bank … Continue reading

Thurgood Marshall College Fund GAP Scholarship available to graduating seniors
Campus Life / Education / Local / National / Virginia

Thurgood Marshall College Fund GAP Scholarship available to graduating seniors

The Thurgood Marshall College Fund has set aside $500,000 for the Class of 2015 to help graduate any senior who has a remaining balance that will prevent him/her from graduating this fall semester. To be eligible, applicants must: ·         Be a graduating college Senior ·         Attend one of the TMCF’s 47 member-schools, such as Norfolk State University … Continue reading

GOP, Dems, Obama reach accord on 2-year budget deal
Business / Health / Politics / U.S. News

GOP, Dems, Obama reach accord on 2-year budget deal

WASHINGTON (AP) — The budget deal between congressional leaders and President Barack Obama, aimed at heading off a government shutdown and debt crisis, faces its first hurdle Tuesday when it goes before restive House Republicans, including rebellious arch-conservatives. The two-year pact, which would take those volatile fiscal issues off the table until after the 2016 … Continue reading

Debt spat thorny issue for Argentine presidential candidates
Latin America & the Caribbean

Debt spat thorny issue for Argentine presidential candidates

BUENOS AIRES, Argentina (AP) — Like a dark cloud, the bitter fight between Argentina and a group of holdout creditors in the U.S. has hung over South America’s second largest economy for years, preventing the country from accessing international credit markets. The dispute pits creditors led by U.S. billionaire Paul Singer against Argentine President Cristina … Continue reading