Latest news with #GroundworkCollaborative
Bloomberg
3 days ago
- Business
- Bloomberg
Balance of Power Late Edition 8/14/2025
"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Retired US Army General Wesley Clark, Former NATO Supreme Allied Commander Europe, discusses the potential risks that can result from President Trump's and President Putin's meeting. Kitty Richards, Senior Fellow at the Groundwork Collaborative, discusses the US producer price index showing prices climbing the most in three years as President Trump claims inflation is down to a perfect number. (Source: Bloomberg)
Bloomberg
3 days ago
- Business
- Bloomberg
Trump's Tariff 'Chaos' Impacting Economy: Kitty Richards
Kitty Richards, Senior Fellow at the Groundwork Collaborative, discusses the US producer price index showing prices climbing the most in three years, the President's claim that inflation is at the perfect number, and the beginning impacts of Trump's tariff policies. Kitty speaks with Joe Mathieu on the late edition of Bloomberg's "Balance of Power." (Source: Bloomberg)
USA Today
09-07-2025
- Business
- USA Today
Round-trip vs one-way: Which airfare trick really saves you money?
As a travel reporter who specializes in airlines, I often get asked how to find the best deal on airfare. More than once, friends have asked whether there's any benefit in buying a round-trip ticket versus two one-way tickets. Unfortunately, airline pricing can be extremely opaque and unpredictable, and my advice usually boils down to: if it feels like a good deal, you should buy it. 'The main thing I would say is I think when it comes to, if folks feel frustrated when they're buying airline tickets, there's a good reason for that,' Lindsay Owens, executive director of Groundwork Collaborative, a Washington-based economic policy think tank, told me. 'The airline industry is really the pioneer of some of the most ruthless and deceptive pricing practices. It's not surprising that people feel really powerless and frustrated when they're purchasing airline tickets.' Owens is working on a book called 'Gouged: The End of a Fair Price in America,' which includes research about airline pricing. She said airlines pioneered what we think of today as 'dynamic pricing,' and the current, confusing hierarchy of airfares is by design. So, are there deals to be had? Yes, but you may never be sure if you're getting the best possible price. Round-trip vs. one-ways: Which is better? One of the big 'hacks' people ask me about is whether it's better to buy a round-trip itinerary or two one-way tickets. Friends who work in airline revenue management have told me that, in general, round-trip pricing can be a little lower, but it's not always a guarantee. 'In general, you're going to save money on roundtrips compared to two one-ways across the board,' Owens said. For example, if you're looking to buy a ticket from Washington to San Juan on Aug. 20, returning on Aug. 27, you'll pay $20 less on JetBlue if you buy it as a round-trip itinerary, rather than as two one-way tickets. (At least at the time of writing, airline prices can change at any time.) Airlines price one-way tickets higher for a variety of reasons, including wanting to make sure they maximize profits in case the traveler decides to take another airline for the return trip. Also, according to Owens' research, carriers generally predict that one-way ticket purchasers are less price sensitive, either because they're more likely to be traveling for business, or because they're taking an emergency trip. 'International travel is where the most extreme price differentials between one-way and round trips remain,' she said. 'Someone who's booking a one-way flight internationally is a little different than someone who is booking a two-way flight internationally, the sense is they're less price sensitive.' Owens also pointed out that there can be a large disparity between carriers in their pricing strategies. Legacy airlines like American, Delta and United are more likely to provide some discounts on round-trip itineraries, while lower-cost carriers like Southwest, JetBlue, Breeze and others are more likely to price their tickets on a one-way basis. How airlines set prices If I could tell you this with any definitiveness, I'd be working in airline revenue management. 'It's opaque because there's really no pure logic behind it other than whatever competition is occurring today, so that's a very hard thing to explain to people,' William J. McGee, senior fellow for aviation and travel at the American Economic Liberties Project, told me. 'They are constantly gaming the system to see every last dollar they can get out of every flight. They price based on what they can get away with.' According to McGee, before airlines were deregulated in 1978, they set airfares under supervision from the Civil Aeronautics Board based solely on the cost to operate the route. Since deregulation, airlines have had a lot more leeway in setting fares, which has made pricing much harder for travelers to predict. One old rule of thumb for airlines was that a Saturday night stay at the destination often denoted a leisure trip, which unlocked cheaper fare buckets. But now, McGee said, that guidance seems to be losing its staying power, thanks partly to remote work. 'The lines have blurred more because, I think, quite frankly, Americans are working harder these days,' he said. 'I'm not ready to say at this point that the Saturday night stayover discount is dead. It may not be as robust as it was.' Airlines consider any number of factors when setting prices now, from day of the week and departure time to demand on the route and competition. 'Broadly speaking, what airlines are trying to do is charge the maximum amount they can to fill every flight,' Owens said. Carriers often don't release all the seats for sale at once, meaning even available inventory isn't necessarily an indicator of where prices are likely to head on a given flight. Last week's Cruising Altitude: Why your flight sometimes feels too hot or too cold Advice for booking 'The golden rule is be flexible,' McGee said. 'If you tweak the day that you're going, if you tweak the airport that you're going to, and if you tweak the hour of the day, it can be remarkable how big the differences are.' McGee and Owens both agreed that the best thing travelers can do to find a good deal on airfare is to shop around, and be willing to make small adjustments to their itinerary if they want to find the best possible price. 'To the extent that comparison shopping is possible, that's always a good option. The best way to ensure the pricing is a combination of being able to be flexible about all aspects of your travel. Flexible departure day, flexible return day,' Owens said.
Yahoo
30-06-2025
- Business
- Yahoo
Congressman Says 'Nobody Asked For The IRS To Be Americans' Tax Preparer,' Applauds Efforts To Shut Down The IRS Direct File Program
Rep. Jason Smith (R-MO) is celebrating the House-passed bill that would shut down the Internal Revenue Service Direct File program, a free federal tool that allows Americans to file taxes online without paying private companies. 'Nobody asked for the IRS to be Americans' tax preparer, filer, and auditor,' Smith posted on X on June 24. 'The House-passed One, Big, Beautiful Bill puts an end to the IRS Direct File Program.'Don't Miss: GoSun's breakthrough rooftop EV charger already has 2,000+ units reserved — become an investor in this $41.3M clean energy brand today. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. Despite Smith's remarks, the Direct File program has received broad support from taxpayers and voters across the political spectrum. According to a Data for Progress poll conducted in April, 82% of likely voters said they support expanding Direct File to all Americans. That includes 80% of Republicans, 85% of Independents, and 81% of Democrats. The IRS launched Direct File using Inflation Reduction Act funds. It started as a small pilot in 12 states during the 2024 tax season and expanded to 25 states in 2025, serving 32 million eligible users. The tool was described as secure, simple, and always free. Kitty Richards, senior fellow at the Groundwork Collaborative, a progressive economic policy group, said Direct File was 'a crystal clear example of government efficiency at work. Taxpayers shouldn't have to pay exorbitant fees to predatory for-profit companies just to file their taxes.' According to Groundwork, IRS data and user surveys also backed the program's popularity. In 2024, 90% of surveyed users rated their experience as excellent or above average, and most reported filing in under an hour. By their estimates, Direct File saved taxpayers $5.6 million in fees during its first full rollout, and every dollar invested returned $160 in savings. Trending: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. When news broke out in April that the Trump administration plans to discontinue Direct File for the 2026 tax season, Sen. Ron Wyden (D-OR) called Direct File a 'massive success' that removed unnecessary middlemen. He accused President Donald Trump and Treasury Secretary Scott Bessent of 'robbing regular American families to pay back lobbyists that spend millions to make tax filing more expensive and more difficult.' Staff working on the program were reportedly told weeks earlier that they would no longer be needed. The Department of Government Efficiency, once led by Tesla CEO (NASDAQ:TSLA) Elon Musk, reportedly played a role in weakening the IRS program. Musk posted in February that the Direct File development team had been 'deleted.' Meanwhile, the program critics like David Williams of the Taxpayers Protection Alliance argued that the IRS overstepped by building Direct File without explicit approval. 'The IRS created Direct File without congressional approval,' Williams wrote in April. 'In fact, the $15M from the Inflation Reduction Act was supposed to be for a study. Instead, the IRS built the software.' Still, many policy advocates and voters say the program filled a real need and made tax season less stressful. See Next: $100k in assets? Maximize your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $ Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? TESLA (TSLA): Free Stock Analysis Report This article Congressman Says 'Nobody Asked For The IRS To Be Americans' Tax Preparer,' Applauds Efforts To Shut Down The IRS Direct File Program originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-06-2025
- Business
- Yahoo
Congressman Says 'Nobody Asked For The IRS To Be Americans' Tax Preparer,' Applauds Efforts To Shut Down The IRS Direct File Program
Rep. Jason Smith (R-MO) is celebrating the House-passed bill that would shut down the Internal Revenue Service Direct File program, a free federal tool that allows Americans to file taxes online without paying private companies. 'Nobody asked for the IRS to be Americans' tax preparer, filer, and auditor,' Smith posted on X on June 24. 'The House-passed One, Big, Beautiful Bill puts an end to the IRS Direct File Program.'Don't Miss: GoSun's breakthrough rooftop EV charger already has 2,000+ units reserved — become an investor in this $41.3M clean energy brand today. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. Despite Smith's remarks, the Direct File program has received broad support from taxpayers and voters across the political spectrum. According to a Data for Progress poll conducted in April, 82% of likely voters said they support expanding Direct File to all Americans. That includes 80% of Republicans, 85% of Independents, and 81% of Democrats. The IRS launched Direct File using Inflation Reduction Act funds. It started as a small pilot in 12 states during the 2024 tax season and expanded to 25 states in 2025, serving 32 million eligible users. The tool was described as secure, simple, and always free. Kitty Richards, senior fellow at the Groundwork Collaborative, a progressive economic policy group, said Direct File was 'a crystal clear example of government efficiency at work. Taxpayers shouldn't have to pay exorbitant fees to predatory for-profit companies just to file their taxes.' According to Groundwork, IRS data and user surveys also backed the program's popularity. In 2024, 90% of surveyed users rated their experience as excellent or above average, and most reported filing in under an hour. By their estimates, Direct File saved taxpayers $5.6 million in fees during its first full rollout, and every dollar invested returned $160 in savings. Trending: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. When news broke out in April that the Trump administration plans to discontinue Direct File for the 2026 tax season, Sen. Ron Wyden (D-OR) called Direct File a 'massive success' that removed unnecessary middlemen. He accused President Donald Trump and Treasury Secretary Scott Bessent of 'robbing regular American families to pay back lobbyists that spend millions to make tax filing more expensive and more difficult.' Staff working on the program were reportedly told weeks earlier that they would no longer be needed. The Department of Government Efficiency, once led by Tesla CEO (NASDAQ:TSLA) Elon Musk, reportedly played a role in weakening the IRS program. Musk posted in February that the Direct File development team had been 'deleted.' Meanwhile, the program critics like David Williams of the Taxpayers Protection Alliance argued that the IRS overstepped by building Direct File without explicit approval. 'The IRS created Direct File without congressional approval,' Williams wrote in April. 'In fact, the $15M from the Inflation Reduction Act was supposed to be for a study. Instead, the IRS built the software.' Still, many policy advocates and voters say the program filled a real need and made tax season less stressful. See Next: $100k in assets? Maximize your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $ Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? TESLA (TSLA): Free Stock Analysis Report This article Congressman Says 'Nobody Asked For The IRS To Be Americans' Tax Preparer,' Applauds Efforts To Shut Down The IRS Direct File Program originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
