The Daily Money: When full-time work isn't enough to cover basic expenses

More families are finding it difficult to pay for basic expenses such as food, housing and medical care, even with full-time jobs. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW   Tuesday, September 6 It might feel like Monday, but it's definitely Tuesday. Welcome back from the holiday weekend. It's Brett Molina with your Daily Money headlines. President Joe Biden's plan to forgive federal student loans was welcomed by many borrowers. But the plan also raised a new question: Will I have to pay taxes for it? Although the plan is exempt from federal taxes, some states could levy taxes on those borrowers who take advantage of the forgiveness plan. Arkansas, Minnesota, Mississippi, North Carolina and Wisconsin are among the states where borrowers seeking loan forgiveness may have to consider a higher tax bill. 'Full-time work doesn't pay' More families are finding it difficult to pay for basic expenses such as food, housing and medical care, even with full-time jobs. More than one-third of U.S. families working full-time, year-round do not earn enough to cover a basic family budget, said a report from Brandeis University's diversitydatakids.org program at the Institute for Child, Youth and Family Policy. It's even worse for Black and Hispanic families. More than half cannot afford basic needs, according to the report. 📰 More stories you shouldn't miss 📰 Ask HR. Should I feel guilty about taking a vacation if my workplace is understaffed? Instagram's big penalty. Irish regulators fine app $402 million for violating EU teen privacy rules. Where is Dubai? What to know about the city and how to travel there. 🍔 Today's Menu 🍔 I love pizza. And while I know it's not healthy for me, if there's a pizza in front of me, I'm grabbing a slice (OK, two slices). I'm sure you have foods like this, too. So, why do we keep reaching for foods we know we shouldn't? About The Daily Money Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. Follow Brett Molina on Twitter: @brettmolina23. 35% of families working full-time struggle to afford food, housing More than one-third of U.S. families that work full time year-round do not earn enough to cover a basic family budget, according to a recent report. Will you owe state income tax on student loan forgiveness? Will the Inflation Reduction Act deliver on promise to lower drug... My job is understaffed, but should I feel guilty about taking a... Bed Bath & Beyond CFO's 'shocking' death in New York ruled as suicide Where is Dubai? The most populous city of the UAE and how to visit. Cast your vote for the best craft spirits and canned cocktails Apple event 2022: When and where to watch updates on iPhone 14 Irish officials fine Instagram major $402 million for teen data misuse Why hiring is still booming despite recession fears, slowing economy   Problem viewing email? View in browser Unsubscribe • Manage Newsletters • Terms of Service • Privacy Policy/Your California Privacy Rights • Privacy Notice • Do Not Sell My Info/Cookie Policy • Feedback © 2022 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102