June 15, 2021

plans

Ohio Statehouse observers are watching the Senate’s income tax cut, education plans

COLUMBUS, Ohio – Ohio Republican Senators, in proposing a 5% income tax cut in the two-year state operating budget, say they won’t use any American Rescue Plan coronavirus recovery funds to pay for the decrease.

The stimulus act prohibits the money from being used for tax cuts.

But could they still run afoul of the rules?

Complying with the rescue plan is just one of numerous concerns Ohio Statehouse observers have about the Senate’s budget bill. Another one is the school funding plan in the budget, which public education advocates are watching closely.

This week, the Senate Finance Committee is

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China Wrecks IPO Plans for High-Flying Education Startups

(Bloomberg) — China is escalating a crackdown on its online education sector, forcing once high-flying startups to mothball plans for multi-billion-dollar initial public offerings this year.

Just months ago, edtech outfits were one of the hottest investments in China’s post-Covid internet industry, pulling in more than $10 billion of venture funding last year from powerhouses like Alibaba Group Holding Ltd., Tencent Holdings Ltd. and SoftBank Group Corp. Then Beijing stepped in.

President Xi Jinping suggested in March the surge in after-school tutoring was putting immense pressure on on China’s kids, signaling a personal interest in curbing excesses. That led to

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Biden budget includes spending plans, boost in health, education funds

WASHINGTON — President Joe Biden released his fiscal year 2022 budget request to Congress on Friday, the first formal budget of his presidency and a sharp departure from his predecessor Donald Trump. 

Biden’s budget incorporates his two signature domestic proposals, the American Families Plan and the American Jobs Plan, neither of which has been seriously debated by Congress yet. 

It also illustrates how different Biden’s priorities are from Trump’s. For example, it requests an increase of 41% for the Department of Education over last year, plus 23% more for the Department of Health and Human Services, and 22% more

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Panthers great Thomas Davis discusses post-football career plans

Luke Kuechly left his pro scout position with the Carolina Panthers to pursue other passions: namely hunting and fishing in the fall months.

Another Carolina legend also recently walked away from the game and has to figure out what to do with all his newfound free time. Former Panthers linebacker Thomas Davis retired a couple months ago. Yesterday, Davis told reporters that he doesn’t see coaching or scouting in his future. However, he does have an audition lined up with SEC Network.

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Debunking the myths about 529 college savings plans

Even though they’ve been around for decades, 529 college savings plans are still often misunderstood.

The investment vehicles are a tax-advantaged way to save for college or other schooling. Earnings are free from federal tax and the funds aren’t taxed when taken out to pay for qualified expenses.

Yet only 36% of Americans can correctly identify the plan as an education savings tool, according to a recent study by Morning Consult Edward Jones.

“It can be overwhelming,” said Michael Conrath, head of education savings for J.P. Morgan Asset Management.

More from Invest in You:
Mom leveraged 529 plans to give

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University of Louisville plans 19th tuition hike in 20 years | In-depth

LOUISVILLE, Ky. (WDRB) – The University of Louisville plans its 19th tuition increase in 20 years with a proposed 1.75% hike for Kentucky-resident undergraduates in the 2021-22 academic year.

The plan, which requires approval by the school’s board of trustees on June 24, would push tuition and mandatory fees above $12,000 per year for in-state students for the first time.

University officials stress that the increase of $104 per semester will be more than offset by one-time payments in the 2021-22 academic year of at least $400 per semester to many undergraduate students using federal coronavirus relief aid.

They

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