James Kvaal News
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Mitt Romney says he can lower income-tax rates by 20 percent without costing the U.S. government revenue and without making the middle class carry a bigger share of the tax load.
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With an eye on middle-class voters, Mitt Romney waded into a fresh social issue yesterday, accusing President Barack Obama of gutting the welfare system’s work requirements at the expense of taxpayers.
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For-profit colleges that pay recruiters on the basis of the number of students they sign up may lose access to U.S. government student aid, which provided the colleges with $26.5 billion last year and can account for as much as 90 percent of company revenue.
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Borrowers defaulted on federal student loans at an 8.8 percent rate for fiscal 2009, up from 7 percent a year earlier, the U.S. Education Department said today.
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Republican presidential candidate Mitt Romney, pressing for a victory in tomorrow’s Illinois primary, is branding both President Barack Obama and primary rival Rick Santorum as economic lightweights.
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Republican presidential candidate Mitt Romney’s plan to reduce tax rates would need to be financed by ending widely used benefits such as the mortgage interest deduction, said Erskine Bowles, who was co-chairman of President Barack Obama’s deficit-reduction commission.
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Mitt Romney is campaigning across the country as a business-turnaround specialist, casting himself as a political outsider who understands “the real economy.”
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Mitt Romney’s private-equity background is threatening to overshadow the policies he is pitching to voters, complicating the Republican’s efforts to present himself as a positive alternative to President Barack Obama.
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Higher-education stocks fell after the U.S. Department of Education said it stood by student loan repayment data released Aug. 13, which showed low payback rates at for-profit college providers.
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For-profit colleges, led by Apollo Group Inc .’s University of Phoenix, will be disproportionately hurt by cuts in the $30 billion Pell Grant program for low- income students.
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