Merz to Meet Macron in Bid to Resolve Growing Fighter Jet Rift
The two leaders are scheduled to meet during the week of July 21, ahead of ministerial talks between the two governments, but friction over the Future Combat Air System jet has moved to the top of the agenda, according to people familiar with the talks.
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New York Times
an hour ago
- New York Times
Under Attack by Trump's Tariffs, Asian Countries Seek Out Better Friends
For most countries that received President Trump's letters last week threatening steep tariffs, especially the Asian nations with economies focused on supplying the United States, there are no obvious substitutes as a destination for their goods. But they are doing their best to find them. Business and political leaders around the world have been roundly baffled by the White House's imposition of new duties, even as governments shuttled envoys back and forth to Washington offering new purchases and pledges of reform. Mr. Trump is erecting new trade barriers and demanding deep concessions by Aug. 1, claiming years of grievance because America buys more than it sells. 'Across the world, tools once used to generate growth are now wielded to pressure, isolate and contain,' Anwar Ibrahim, the prime minister of Malaysia, said at a gathering of Southeast Asian leaders on Wednesday. 'As we navigate external pressures, we need to fortify our foundations. Trade among ourselves. Invest more in one another.' There are already a few signs of such efforts. South Korea's new president, Lee Jae Myung, sent special envoys to Australia and Germany to discuss defense and trade issues, and plans on dispatching delegations to several others. Brazil and India announced plans to increase their bilateral trade by 70 percent, to $20 billion. Indonesia says it is nearing a treaty with the European Union that would drop most tariffs on both sides to zero. And in Vietnam, which Mr. Trump said had accepted 20 percent tariffs on its goods headed to the United States before last week's letters, the deputy trade minister emphasized efforts to reduce her country's reliance on American consumers by leveraging other trade agreements. Want all of The Times? Subscribe.
Yahoo
an hour ago
- Yahoo
6 Ways Your Social Security Benefit Can Be Garnished -- Including 2 Directly Impacted by the Trump Administration
Most beneficiaries would struggle, to some varied degree, if Social Security didn't exist. President Donald Trump's administration is reinstating and/or adjusting monthly Social Security garnishment rates for delinquent federal student loan borrowers and beneficiaries who were overpaid. Additionally, unpaid federal tax and various court orders can result in Social Security benefits being garnished. The $23,760 Social Security bonus most retirees completely overlook › For most retirees, Social Security is an indispensable income source. Although the average retired-worker benefit is fairly modest, tallying just over $2,000 for the first time in the program's 90-year history as of May, this monthly payout was responsible for pulling 16.3 million adults aged 65 and over above the federal poverty line in 2023. Most beneficiaries would struggle, to some varied degree, to make ends meet if Social Security didn't exist. But for millions of Americans, this foundational monthly payout isn't as guaranteed as you might think. Although Social Security benefits can't be garnished or withheld to satisfy credit card debt, personal loans, or medical bills, there are six ways -- two of which are directly influenced by President Donald Trump's administration -- that your monthly Social Security benefit can be garnished by up to 65%. One of the more publicized ways Social Security benefits can be clawed back is in the event of an overpayment. Sometimes these overpayments are the fault of the Social Security Administration (SSA), while other instances may stem from a beneficiary not updating their income with the SSA. In fiscal year 2023 (the federal government's fiscal year ends on Sept. 30), the SSA attempted to recover overpayments from roughly 2 million beneficiaries, per KFF and Cox Media Group. The recovery rate under the Joe Biden administration in 2023 was a mere 10% of monthly benefits. In March, the SSA announced plans to return the clawback rate on overpayments to 100%, which is where it stood during Trump's first term and President Barack Obama's eight years in office. But due to public backlash, the SSA pared this garnishment rate down to 50% in April. Based on communication from the SSA on April 25, overpaid beneficiaries (which include retired workers, survivors of deceased workers, and workers with disabilities) can expect this 50% monthly garnishment to kick in on or after July 24 -- in other words, a 90-day grace period following a written letter requesting repayment. The silver lining for these more than 1 million overpaid beneficiaries is that there are options available that can potentially waive their repayment liability, reduce the amount they owe, or lower their monthly garnishment amount if it would result in a financial hardship (based on qualifying expenses). A second way the Trump administration is influencing garnishments is through delinquent federal student loans. Based on data from the Consumer Financial Protection Bureau, the number of federal student loan borrowers aged 62 and above jumped by 59% to 2.7 million between 2017 and 2023. More importantly, an estimated 452,000 of these senior borrowers are currently delinquent on their federal student loans and receiving a Social Security benefit. This leaves these individuals open to a 15% monthly garnishment rate until the loan is no longer delinquent. The caveat is that the collection of federal student loan repayments was halted during the COVID-19 pandemic and never lifted. The Trump administration, via the SSA, intends to restart collections "sometime this summer." Similar to the clawback of overpayments, delinquent federal student loan borrowers receiving Social Security benefits often have options. Some may be able to qualify for the Total and Permanent Disability discharge program, which would cancel their federal student loan debt. There's also the possibility of being granted a financial hardship exemption from the U.S. Department of Education if your qualifying expenses are larger than your documented income. Up to 15% of your monthly Social Security check can be garnished if you have unpaid federal tax obligations. The Federal Payment Levy Program allows the Internal Revenue Service (IRS) to collect certain benefits paid by the Treasury Department to delinquent taxpayers. Most forms of Social Security income can qualify for this 15% garnishment rate by the IRS. This includes payouts to retired workers, survivor beneficiaries, and workers with disabilities, but excludes survivor benefits paid to a child and lump sum death benefits. Keep in mind that delinquent taxpayers receiving Social Security benefits must be left with at least $750 per month after garnishment -- this is true for federal student loan borrowers, too. This means that lifetime low earners who are delinquent on their federal taxes might not be garnished at the full 15% rate. A fourth way the SSA can garnish Social Security benefits is through a court order, such as a child support order. According to the SSA, the Court Order Garnishment System (COGS) rate is based on a handful of scenarios: 50% if the beneficiary is supporting a child, other than the child whose support has been ordered by the court 60% if the beneficiary isn't supporting another child 55% if the court-ordered child support is 12 or more weeks delinquent and the beneficiary is supporting a child, other than the child whose support is ordered by the court 65% if in arrears by at least 12 weeks and not supporting another child The Social Security garnishment rates associated with court-ordered alimony for a current or former spouse mirror those associated with child support. COGS calculates the monthly garnishment rate, which ranges from 50% to 65%, based on whether another spouse is being supported, other than the spouse whose support was ordered by the court, and whether the garnished beneficiary is 12 or more weeks in arrears on their payments. Unlike unpaid federal debts, there's no requirement for the SSA to leave you a minimum of $750 in benefits after garnishment for child support and/or alimony. The sixth and final way the SSA can legally garnish your Social Security benefit is due to court-ordered victim restitution. Based on certain crimes, the SSA can garnish up to 25% of your monthly benefit amount through COGS to repay a victim. Similar to court-ordered child support and alimony, all appeals for court-based garnishments have to be taken up with the individual court and not the SSA. Only issuing courts have the ability to dismiss or modify a child support, alimony, or victim restitution garnishment order. If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these Motley Fool has a disclosure policy. 6 Ways Your Social Security Benefit Can Be Garnished -- Including 2 Directly Impacted by the Trump Administration was originally published by The Motley Fool
Yahoo
3 hours ago
- Yahoo
Trump ‘considering' taking away US citizenship from comedian Rosie O'Donnell
President Donald Trump says he is considering 'taking away' the US citizenship of a long-time rival: the actress and comedian, Rosie O'Donnell. The move comes despite a decades-old Supreme Court ruling that expressly prohibits such an action by the government. 'Because of the fact that Rosie O'Donnell is not in the best interests of our Great Country, I am giving serious consideration to taking away her Citizenship,' Mr Trump wrote in a social media post on Saturday. He added that Ms O'Donnell, who moved to Ireland in January, should stay in Ireland 'if they want her'. The two have criticised each other publicly for years, an often bitter back-and-forth that predates Mr Trump's involvement in politics. In recent days, O'Donnell on social media denounced Mr Trump and recent moves by his administration, including the signing of a massive tax breaks and spending cuts plan. It is just the latest threat by Mr Trump to revoke the citizenship of people with whom he has publicly disagreed, most recently his former adviser and one-time ally, Elon Musk. But Ms O'Donnell's situation is notably different from Mr Musk, who was born in South Africa. Ms O'Donnell was born in the United States and has a constitutional right to US citizenship. The US State Department notes on its website that US citizens by birth or naturalisation may relinquish US nationality by taking certain steps – but only if the act is performed voluntary and with the intention of relinquishing U.S. citizenship. Amanda Frost, a law professor at the University of Virginia School of Law, noted the Supreme Court ruled in a 1967 case that the 14th Amendment of the constitution prevents the government from taking away citizenship. 'The president has no authority to take away the citizenship of a native-born US citizen,' Ms Frost said in an email on Saturday. 'In short, we are nation founded on the principle that the people choose the government; the government cannot choose the people.' Ms O'Donnell moved to Ireland after Mr Trump defeated vice president Kamala Harris to win his second term. She has said she is in the process of obtaining Irish citizenship based on family lineage. Responding to Mr Trump on Saturday, Ms 'Donnell wrote on social media that she had upset the president and 'add me to the list of people who oppose him at every turn'.
