Biden unveils massive $7.3T budget with $5.5T in tax hikes post-State of the Union address
President Biden released his election-year budget proposal on Monday, calling for $5.5 trillion in tax increases through higher rates on the wealthy and big corporations, while cutting back on federal benefits programs, affordable housing and student loans. He called for an increase in spending on things like write-offs. The 2025 budget is highly unlikely to […]
Delta hikes bag fees on flights, joining United and American
Just in case you needed yet another incentive to pack all your travel gear in your carry-on, Delta has increased the price of your first checked bag by 17%. This increase adds $5 to the previous (by no means insignificant) domestic flight fare of $30. Delta Air Lines is the third major U.S. airline to […]
Could more price hikes be coming to Netflix this year? Analysts think so
Mark Mahaney, senior managing director at Evercore ISI, discusses Netflix’s market performance and why Google is dangerous. Netflix binge-watching prices could soon become even more expensive. That could happen if the streaming giant decides to raise membership prices again, which UBS communications and cable analyst John Hodulyk says is very likely this year. UBS: “I’m […]
Gov. Murphy $55.9B budget features spending hikes, new business taxes
New Jersey Gov. Phil Murphy, a Democrat, announced a $55.9 billion state budget on Tuesday. Among the major agenda items is increasing public education spending by nearly $1 billion. “Our budget will ensure New Jersey maintains its proud reputation as a great place to raise a family,” Murphy said of the proposal. New Jersey Gov. […]
FTC sues to block $25BÂ Kroger-Albertsons deal, cites fears of grocery price hikes
The Federal Trade Commission and eight states announced Monday that they are suing to block supermarket chain Kroger’s $24.6 billion deal to buy smaller rival Albertsons, a deal that could cost millions of people more. They argued that it would push up food prices for Americans. The deal would create a grocery empire with more […]
Hampton Jitney warns of cost hikes when NYC congestion pricing takes effect
Hampton Jitney, a popular bus company that transports New Yorkers to and from the Hamptons, has warned that it may be forced to increase ticket prices if New York City’s impending congestion pricing goes into effect. Under the city’s fee proposal, private bus companies would pay twice as much to shuttle passengers from Manhattan to […]
JetBlue quietly hikes ‘atrocious’ checked-baggage fees
JetBlue Airways quietly increased its baggage screening fees, sparking outrage on social media from passengers who branded the move a greedy money grab. The New York-based airline currently charges travelers $45 for the first standard-sized bag checked within 24 hours of departure and $60 for the second bag. JetBlue is offering a $10 discount to […]
American Airlines hikes bag fees, tightens frequent flyer restrictions
American Airlines is raising prices for checked bags and making other changes to encourage customers to buy tickets directly from the airline if they prefer. earn mileage points. The airline announced Tuesday that the price to check a bag on domestic flights will increase from the current $30 to $35 online and $40 if purchased […]
McDonald’s CEO says fast food chain will focus on affordability amid outrage over menu hikes
The fast food chain calls it an “authentic cheeseburger” and it costs 109 baht (Viral Press). McDonald’s CEO acknowledged Monday that the fast-food giant’s sales have fallen due to menu price hikes that went unnoticed by customers. The Chicago-based chain, which has come under heavy criticism for its Big Mac combos that cost nearly $18, […]
Fast-food price hikes coming as California minimum wage hike looms
OLeary Ventures Chairman Kevin OLeary joins “The Big Money Show” to discuss the ongoing push for electric vehicles and California’s decision to increase the minimum wage. fast food prices California wages are expected to rise this spring as companies respond to the state’s $20-an-hour minimum wage law for fast-food workers, which goes into effect on […]