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Friday 8 March 2024

Will TikTok be banned in U.S.?

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Plus, Aldi fans to get more stores ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Fri Mar 8 2024

 

Betty Lin-Fisher Consumer reporter

@blinfisher

Hello and welcome to Friday's The Daily Money. This is Betty Lin-Fisher. Each Friday, I will bring you a consumer-focused edition of this newsletter.

Will TikTok be shut down in the U.S?

A key House committee voted unanimously on Thursday to advance bipartisan legislation that would force China's ByteDance to sell off TikTok or face a ban in the United States.

Lawmakers on the House Energy and Commerce Committee received a classified briefing on national security concerns raised by TikTok's Chinese ownership before the 50-0 vote.

The legislation is widely seen as the most potent threat yet to the wildly popular app that is used by 170 million Americans. 

Read more in the story by my colleague, Jessica Guynn.

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Will TikTok be banned in the U.S?

Justin Sullivan, Getty Images

Aldi will add 800 stores nationwide by 2028

Are you an avid Aldi shopper? Or are you curious what the hype about the Aisle of Shame is all about?

The discount German grocer on Thursday said it would be adding 800 more stores nationwide in the next five years.

That will include expanding in the Northeast, Midwest and Southeast and a growing presence in Southern California and Phoenix, Arizona. Aldi will also be entering new cities like Las Vegas, the grocer said.

That will bring the number of stores in the U.S. to about 3,200.

Find out more details in my story. Also, if you're new to Aldi, check out another story I wrote, which will help you get started.

📰 Consumer stories you shouldn't miss 📰

Have you heard of "pig butchering?" It's not what you think, and even HBO comedian John Oliver took time to explain the scams in a recent show.
Think medical bils are too high? So does the former surgeon general. Find out how to get help.
Today is the last day you can order free Covid-19 tests from the government.
Are cash-back reward credit cards better than points?
Here's some strategies to find cheap flights.

🍔 Today's Menu 🍔

How do you like your bananas? Green, a beautiful yellow or do you like them when they start to brown?

Personally, I love the perfect yellow banana that is not too crisp and not too squishy. But I didn't know there were so many ways to keep your bananas fresh and did you know that you can bake a banana to get it to ripen?

Find out more in this Problem Solved story and video.

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.

This illustration photograph taken on October 30, 2023, shows the logo of TikTok, a short-form video hosting service owned by ByteDance, on a smartphone in Mulhouse, eastern France. (Photo by SEBASTIEN BOZON / AFP) (Photo by SEBASTIEN BOZON/AFP via Getty Images)

TikTok users flooded Congress with angry calls as a House committee approved bill that would force China's ByteDance to sell off TikTok or face a ban.

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Oklahoma     • Supermarket:  Aldi     • Headquarters:  Batavia, IL, and  Mülheim , Germany     • Year founded:  1961 This German family-owned discount grocery chain has over 11,000 locations worldwide, including around 2,000 stores in the United States. Spanning 36 states, Aldi has a loyal customer base and has been called the best grocery store in America. The no-frills store stocks bulk staples, discounted private label groceries,   and some of the cheapest organic products available.
 

Discount grocer Aldi will add 800 more US stores by 2028

Discount grocer Aldi will be adding 800 new stores nationwide in the next five years.

President Donald Trump watches as U.S. Surgeon General Jerome Adams holds up his COVID-19 face mask on April 22, 2020.
 

Shocked by a sky-high medical bill? So is a former surgeon general.

If you've received inflated medical bills, you're not alone. A former U.S. surgeon general is fighting his. Here's his story and tips to dispute it.

Americans can request a set of four free COVID rapid tests per household at COVIDTests.gov.
 

Today is the last day you can order free COVID test kits through USPS

Friday, March 8 is the final day you can get free COVID-19 test kits for free through the government from USPS. Here's what to know.

Cartoon of a man fishing a plane.
 

How can you find a cheap airline ticket?

Airlines are using artificial intelligence to predict how much you're willing to pay for a ticket. But there are some new strategies to outsmart them.

President Joe Biden's executive order to wipe out some student loan debt raised immediate questions about how states would treat this relief for tax purposes.   The plan forgives up to $10,000 in outstanding federal student loan debt and up to $20,000 for students from low-income families who qualified for a Pell Grant. The White House estimates that 27 million people qualify for $20,000 in relief. Individuals earning more than   $125,000 per year are not qualified for debt discharge under this new relief plan.    Some of these fortunate debtors, however, could wind up on the hook for hundreds of dollars in income taxes on the forgiven debt. For example, unless Arkansas implements a legislative fix, anyone there who benefits from this debt forgiveness could pay up to   $550 in state income tax   and more if they qualify for the additional relief, according to KFSM news.    Discharged student loan debt is typically considered a form of income subject to federal income tax, but the American Rescue Plan Act of March 2021 included a moratorium on taxing student loan debt forgiveness through 2025. This means that   student loans discharged under Biden's plan announced in August will not be taxed at the federal level.    The situation is murkier at the state level. Most states are following the federal government's lead by not taxing this discharged debt. But Indiana and North Carolina plan to tax this forgiven debt, as does Mississippi, where nearly 11% of federal student loan borrowers are at least 90 days past due on their last payment, the highest percentage in the nation. About 2.7 million federal student loan borrowers live in these states.    The situation remains unclear in five states, including California, where 4 million federal student loan borrowers reside. Legislative leaders in the   Golden State   have insisted they will   act to avoid taxing this forgiven debt, but the situation is not yet settled. About 2.3 million borrowers live in states with situations similar to California's, waiting in limbo to see what, if anything, they will have to pay in taxes next year. (   These are cities where college students are most burdened by debt.   )    24/7 Wall St. reviewed the eight states where the student debt forgiveness could be taxed, with information gathered as of Sept. 10. States on this list are ordered by the share of student loan borrowers who are 90+ days past due. (   Here are the states with the most past due student debt.   )    Data on the number of student   loan borrowers by state in 2021; average student loan debt balances by state in 2021; and percentage of student loans borrowers who are 90+ days past due on their loans come from the    Federal Reserve Bank of New York   . Data on income tax collection and state revenue per capita for 2020 come from the    Tax Foundation   , a Washington D.C.-based nonprofit tax research organization.
 

Student debt holders get lower payments longer with deadline extension

Student loan borrowers get to hold on to lower monthly payments a bit longer after the Education Department extended the recertification deadline.

Cancel subscriptions you don't use anymore using your iPhone.
 

How to easily cancel your subscriptions

Stop jumping through hoops to find and cancel subscriptions for apps you no longer use. There's an easy way to find them and end them.

A woman holding up a now hiring sign.
 

How healthy was the job market in February? Here's latest jobs report.

Economists had estimated that 200,000 jobs would be added last month amid high interest rates and persistent inflation.

The Gees board a plane in Tanzania. They've visited more than 90 countries as a family.
 

Do kids like it? Family travel tips from a family that's seen it all.

The Bucket List Family has visited more countries than most of us ever will. Here are their pro tips.

A smiling person sitting by an open laptop holding a phone.
 

This was the average 401(k) match in 2023

Hint: It's not a small number.

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