Pay Attention: Gov’t Shutdown Will Delay Tax Refunds + MORE!
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If you’re “not into politics” you will be after you find out how the government shutdown will affect your pockets!
This is the longest partial government shutdown in 20 years. For the past two weeks, the Republicans and Democrats haven’t been able to come to an agreement about the wall the Donald Trump wants to build along the U.S. and Mexican border. Trump wants Congress to give him $5.6 billion for his wall, reported on NY Times.
This will essentially have an impact on many Americans. The shutdown can affect how long it takes for your packages to get delivered, air travel and over 400,000 people could end up working without pay.
During the shutdown, the IRS will accept returns and tax payments but won’t issue out checks until the matter is settled. During the 2013 shutdown under the Obama administration, it lasted a little over two weeks and caused $2.2 billion in delayed checks.
Many Americans are depending on their tax refunds to get caught up and bills and save money. Other delays could include student loans or home-loan applications. NY Times reports that Trump says the shutdown “can last for months or even years” if he doesn’t get his money.