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Breaking down the 2026 tax bracket changes

admin - Latest News - October 22, 2025
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Breaking down the 2026 tax bracket changes



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Oct. 22, 2025, 8:07 AM EDTBy Jason Abbruzzese and Corky SiemaszkoAmerican grandmaster Daniel Naroditsky’s death has sent shock waves through the professional chess world, with many top players blasting a Russian rival who accused him of cheating during online matches.They said Naroditsky, whose death at age 29 was reported Monday, was bullied relentlessly online by Russian former world champion Vladimir Kramnik, with some calling for Kramnik to be banned from the game.Kramnik, who has accused many players of cheating in online play, first voiced “concerns” about Naroditsky’s play last year, leading to an ongoing feud between the two players. Kramnik routinely posted online about Naroditsky, calling for an investigation into his play and at times appearing to threaten legal action against him.In an October 2024 interview, Naroditsky characterized Kramnik’s efforts as “a sustained, evil and absolutely unhinged attempt to destroy my life.”Others in the chess community said the accusations had taken their toll.”He said he was under immense stress due to a lot of baseless accusations — headed by Kramnik, of course,” Indian grandmaster Nihal Sarin, who said he was the last to play Naroditsky, told The Indian Express.”I can totally imagine the pain he was going through and it has been going on for a very long time,” he told the paper. Sarin did not immediately respond to an NBC News request for comment.
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Oct. 22, 2025, 11:05 AM EDTBy Mirna Alsharif and Selina GuevaraLawyers gave their opening statements to a jury at the Peoria County Courthouse on Wednesday morning, officially kicking off the trial of a former Illinois deputy accused of fatally shooting Sonya Massey.Sean Grayson, 31, shot Massey, a 36-year-old Black mother of two, in June 2024 after she called authorities to her Springfield home about a possible prowler. The former Sangamon County sheriff’s deputy, who is white, said in a report written after the incident that he feared bodily harm because Massey was holding a pot of boiling water and said, “I rebuke you in the name of Jesus.”Nearly two weeks later, Grayson was fired and charged with first-degree murder, one count of aggravated battery and one count of official misconduct. He pleaded not guilty and was held in jail pending trial.On Tuesday, the aggravated battery and official misconduct charges were dropped at the request of the prosecutors with no objection from the defense, according to the court docket.Jury selection began Monday when a jury of 10 women and five men was selected. No cameras are allowed in the courtroom.John Milhiser, the state’s attorney for Sangamon County, said in his opening statement that Grayson did not turn on his body camera that night, which is part of a pattern of not following policies or training. He said Grayson shot Massey because he was angry. “It will be clear that the defendant, without lawful justification, in the home of Sonya Massey, the defendant shot and killed Sonya Massey because he was mad at her,” Milhiser told the court. Grayson’s attorney, Daniel L Fultz, said in his opening statement that evidence will show that the former deputy lawfully discharged his weapon and acted to protect his life. “He believed he would suffer great bodily harm or death,” he said. He said that Grayson had warned Massey to put down the pot of water before firing his weapon. “What happened to Ms. Massey was a tragedy, but it was not a crime,” Fultz said. Grayson appeared in court wearing a black suit and glasses. He sometimes rocked back and forth in his chair and glanced at the courtroom gallery, where media and members of Massey’s family were seated. Massey’s killing triggered a national response, igniting protests across the country. Protesters gathered outside the courthouse Monday to call for justice for Massey, who had mental health issues, according to her family.Her death raised new questions about U.S. law enforcement shootings of Black people in their homes and it prompted a change in Illinois law requiring fuller transparency on the background of candidates for law enforcement jobs.The trial is expected to last a week and a half.Mirna AlsharifMirna Alsharif is a breaking news reporter for NBC News.Selina GuevaraSelina Guevara is an NBC News associate producer, based in Chicago.Minyvonne Burke contributed.
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Oct. 16, 2025, 6:59 AM EDTBy Rob WileU.S. automakers are trimming their outlook for electric vehicles amid lingering consumer doubts, a pullback in federal support and a challenging economic landscape that is affecting all auto sales. On Tuesday, General Motors reported it was taking losses totaling $1.6 billion related to planned changes to its EV rollout. The company attributed some of the change to President Donald Trump’s elimination of the $7,500 in EV purchasing incentives enacted by President Joe Biden. The credit officially expired Sept. 30. “Following recent U.S. government policy changes, including the termination of certain consumer tax incentives for EV purchases and the reduction in the stringency of emissions regulations, we expect the adoption rate of EVs to slow,” GM said in a filing.Rival Ford has delayed plans to build out an EV plant in Tennessee. It told Reuters last week it would be “nimble in adjusting our product launch timing to meet market needs and customer demand while targeting improved profitability.”Plunging sales at Tesla — still the U.S. leader in EV sales — are also contributing to the weakening outlook. Its second-quarter sales dropped almost 13%, and CEO Elon Musk has warned of some “rough quarters” ahead for the company. The changes threaten to leave the United States behind in what many still consider the future of automobiles. In July 2024, EV sales officially overtook sales of conventional autos in China. There and in nearby countries, the cost of an electric vehicle has been falling more rapidly than in the United States, thanks largely to increased competition from the Chinese manufacturers that now dominate the global EV market. However, other Western countries are also rethinking previous EV commitments, including Canada and the United Kingdom, both of which have signaled relaxing electrification targets, partly in response to new pressures sparked by Trump’s trade war. Inside GMC’s design center where the future of its automobiles takes shape03:03The retreats are a turnabout from the heady ambitions for EVs that U.S. automakers signaled less than a decade ago. The highest-profile push came from General Motors CEO Mary Barra, who committed the storied automaker to a “zero emissions” future in 2017.“No more gas. No more diesel. No more carbon emissions,” she wrote at the time. But a series of challenges — cost concerns, sluggish adoption and the reversal in support in Washington — has left the U.S. auto industry with greater uncertainty about its EV future. “Penetration has stalled,” said David Whiston, a senior analyst at Morningstar investment research company who covers autos.Even before Trump’s “One Big Beautiful Bill” ended the tax credit, signs of resistance to EVs among U.S. consumers had begun to show. A survey published in August 2024 by Edmunds automotive information group showed concerns about finding charging stations and charging times, availability and reliability as the top reasons consumers would not purchase EVs.“They said they don’t want the hassle or don’t feel like learning something new,” said Jessica Caldwell, head of insights at Edmunds. In the second quarter of 2025, new EV sales declined by 6.3% year on year, according to Cox Automotive, which said the growth trajectory for EVs “has been curbed.” EV sales got a boost in the third quarter, but analysts said that was most likely the result of the looming expiration of the tax credit. “The federal tax credit was a key catalyst for EV adoption, and its expiration marks a pivotal moment,” Cox Automotive’s director of industry insights, Stephanie Valdez Streaty, said in a release. “This shift will test whether the electric vehicle market is mature enough to thrive on its own fundamentals or still needs support to expand further.”For a time, EVs seemed poised to take over the U.S. market. Following the lead of Barra of GM, Ford announced in 2018 that it planned to nearly triple its investments in electric and hybrid vehicles by 2022, with plans for 40 new such models. Barra also called for a National Zero Emission Vehicle program to help electrify the entire U.S. auto fleet. Electric vehicle industry faces challenges amid Trump administration policies04:28Meanwhile, sales at Tesla, which exclusively manufactures EVs, began to accelerate, turning the groundbreaking automaker into one of the most valuable companies in the world and giving it a dominant position in the electric market. The EV push was supercharged during the Biden administration, which introduced tough new emissions standards designed to boost EV sales alongside the EV purchasing tax credit. But last year, Barra told NBC News that GM’s all-electric future would now play out “over decades,” though the company said it continued to target 2035 to fully electrify its fleet. In its latest filing, GM said the review of its future EV output is “ongoing” and signaled additional charges could be announced in future quarters. A GM spokesman did not respond to a request for comment. Last month, The Wall Street Journal reported that GM had spent more to lobby the federal government in 2025 to fight clean air and fuel economy rules than any company other than Facebook parent Meta. “What we’re committed to is the customer,” Barra said about the shift away from EVs at a Wall Street Journal event in May, the paper reported. “The customer was telling us they weren’t ready.”Ford CEO Jim Farley said this month that EV sales could fall by around 50% after the EV tax credits expire. A Ford spokesperson did not respond to a request for comment. The entire U.S. auto market also remains challenged by affordability issues. The average price of a new car surpassed $50,000 for the first time last month, Kelley Blue Book reported Tuesday. The average monthly auto payment in the United States is now $749 for new vehicles and $529 for used vehicles, according to the credit reporting agency Experian. U.S. households in general continue to struggle with stubborn inflation and an increasingly shaky jobs market, which has left the pace of overall monthly auto sales below pre-pandemic levels. EVs currently cost about $7,000 more, according to Kelley Blue Book data.Anna Vanderspek, electric vehicle program director at the Green Energy Consumers Alliance, an environmental advocacy group, said she is hopeful that the global shift toward EVs will eventually rebound to U.S. automakers as they look to stay competitive and thus filter down to U.S. consumers. But she acknowledged the timetable for adoption has shifted. “There’s good reason to think that this transition will continue to happen,” she said. “But now it will just happen more slowly.”Rob WileRob Wile is a Pulitzer Prize-winning journalist covering breaking business stories for NBCNews.com.
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