DECEMBER 14, 2024

I’M SOLEDAD O’BRIEN. WELCOME TO. MATTER OF FACT, THEY CLOCK IN EVERY DAY. ALL DAY, SEVEN DAYS A WEEK, WORKING JOBS AND RETAIL DELIVERY, MANUFACTURING AND MORE. BUT WHEN THEY CLOCK OUT, THERE’S NO HOME TO GO TO. THEY JUST DON’T MAKE ENOUGH MONEY TO BE ABLE TO AFFORD HOUSING IN THIS COMMUNITY ANYMORE. WHEN THE COST OF A ROOF OVER YOUR HEAD SUDDENLY OUTPACES WAGES. PLUS, FOR NEARLY 50 YEARS, ROE V WADE WAS THE LAW OF THE LAND, MAKING. THESE LAST TWO YEARS ONES OF UNPRECEDENTED CHANGE. SO I COULDN’T MATTER THAT YOU HAVE A CONSTITUTIONAL AMENDMENT IN YOUR STATE CONSTITUTION THAT PROTECTS ABORTION RIGHTS. MY CONVERSATION WITH THIS FAMILY LAW SCHOLAR ABOUT WHAT CHANGES WE CAN EXPECT UNDER THE INCOMING ADMINISTRATION AND MEET LYSTRA SMALL CLOUDEN ONE OF THE MORE THAN 8 MILLION PEOPLE OVER THE AGE OF 50 STILL PAYING OFF SCHOOL DEBT, AND NO WAY WE COULD PAY THIS DEBT OFF BEFORE WE DIE. HOW OUTSTANDING STUDENT LOAN DEBT PUTS OLDER BORROWERS RETIREMENT AT RISK. THOSE STORIES RIGHT NOW ON MATTER OF FACT. IT’S THE NEW FACE OF HOMELESSNESS IN AMERICA. FOLKS WHO ARE WORKING FULL TIME, BUT WITH NOWHERE TO LIVE. ACCORDING TO THE NATIONAL ALLIANCE TO END HOMELESSNESS, NEARLY 19,000 PEOPLE ENTER HOMELESSNESS FOR THE FIRST TIME EACH WEEK, MANY OF THEM UP TO HALF, ACCORDING TO SOME STUDIES, HAVE A JOB IN 2022. KNOXVILLE, TENNESSEE, SAW THE LARGEST RENT GROWTH OF ANY METRO AREA NATIONWIDE. WHILE THE SPIKE IS SLOWING DOWN, MORE THAN HALF OF RENTERS ARE SPENDING 30% OR MORE OF THEIR INCOME ON HOUSING FOR OTHERS, AFFORDING A HOUSE OR APARTMENT IS SIMPLY NO LONGER POSSIBLE. IN THE FIRST OF OUR TWO PART SERIES, OUR CORRESPONDENT JESSICA GOMEZ TRAVELS TO KNOXVILLE TO TALK TO THOSE AFFECTED. HERE’S AN AIRPORT ORDER. IT’S PAYING $23. QUANISHA TWEEDY, STARTING HER DAY AS AN ONLINE DELIVERY DRIVER IN KNOXVILLE, TENNESSEE, SWITCHING BETWEEN APPS, SHE CLOCKS IN SEVEN DAYS A WEEK, TURN RIGHT ONTO MUDDY CREEK ROAD. THERE’S A BREAK TO PICK UP HER KIDS FROM SCHOOL. DID YOU HAVE A GOOD DAY WITH MISS JENKINS AND HOMEWORK? USUALLY AT THE LOCAL LIBRARY. ALL RIGHT, GUYS, TIME TO BUCKLE UP, THEN BACK ON THE ROAD. TWEEDY’S KIDS FIVE, NINE AND 14. HER OLDEST WITH SPECIAL NEEDS HELPING TO DELIVER. YES, YOU CAN PLAY YOUR GAME. THEY LIKE THE FACT THAT THEY CAN COME AND HELP ME WITH ORDERS. THEY JUST DON’T WANT TO BE IN THE CAR ALL DAY. IT WASN’T ALWAYS THIS WAY. BEFORE THAT, I WAS A DISTRICT MANAGER AT A NEWSPAPER COMPANY. BUT WHEN THE COMPANY DOWNSIZED, SHE LOST HER JOB AND WAS EVICTED FROM HER. GEORGIA APARTMENT. MOVING HERE WITH PROMISES OF MORE DELIVERY WORK UNTIL SHE CAN FIND A NEW JOB. YOU GOT BOTH CASES OF WATER? I KIND OF THINK I FAILED. HONESTLY, I UNDERSTAND THAT IT’S THE ECONOMY, BUT IT’S LIKE, YOU KNOW, I WAS TRYING TO SAVE. AND IT SEEMED LIKE EVERY TIME I WAS SAVED, SOMETHING WOULD COME UP. BUT FAILURE ISN’T SOMETHING TWEEDY HAS TIME FOR. SHE AND HER FAMILY WILL WORK INTO THE NIGHT BEFORE STOPPING TO SLEEP IN THEIR CAR, THEIR HOME FOR FOUR MONTHS NOW, I WOULD HAVE NEVER IMAGINED THAT WE WOULD BE HOMELESS, NEVER. SHE’S NOT ALONE. KNOXVILLE’S HOMELESS POPULATION, NEARLY DOUBLING SINCE 2018. MORE THAN HALF REPORT BEING EVICTED OR UNABLE TO FIND AFFORDABLE HOUSING, AS PRICES HERE HAVE SKYROCKETED. THE AVERAGE RENT INCREASING MORE THAN 50% OVER THE PAST FOUR YEARS. WE’RE TALKING ABOUT PEOPLE WHO WORK AT GAS STATIONS, WAREHOUSES, RETAIL LOCATIONS. AARON REED, THE EXECUTIVE DIRECTOR OF THE OFFICE OF HOUSING STABILITY. IT’S NOT A KNOXVILLE PROBLEM, BUT IT’S AN AMERICA PROBLEM. SINCE THE DOWNTURN IN 2008, WE’VE BEEN UNDER-BUILDING, AND WE’RE ALSO ON THE RECEIVING END OF THIS MIGRATION TREND WHERE PEOPLE WITH COMPARATIVELY HIGH INCOMES ARE MOVING FROM LARGE CITIES AND TO SMALL AND MIDSIZE TOWNS. AND THAT’S HAVING AN UPWARD EFFECT ON OUR HOUSING COSTS. THE COUNTY’S MAIN SHELTER, KNOX AREA RESCUE MINISTRIES, OVER CAPACITY BY NOVEMBER, AN EXPANDED AREA FOR WOMEN AND CHILDREN FULL WITH A WAITING LIST. ABOUT 150 OF THOSE STAYING HERE ARE EMPLOYED. WE RECENTLY HOUSED A LADY WITH A MASTER’S DEGREE IN SOCIAL WORK WHO WAS STAYING HERE, AND SO FOLKS THAT ARE HIGHLY SKILLED HAVE BACKGROUNDS, WORK HISTORIES, NOT BEING ABLE TO AFFORD CURRENT RENT PRICES. THIS IS WHY WE NEED TO MAKE SOME MORE COFFEE. JUST OUTSIDE OF TOWN, JOLIN HARTNEY WORKS 40 HOURS A WEEK AS A GAS STATION MANAGER. THE MOTHER OF TWO HOMELESS AFTER BEING EVICTED FROM HER APARTMENT THREE YEARS AGO. I WAS PAYING 9.75 FOR A THREE BEDROOM AND LIVED THERE FOR TWO YEARS. NO PROBLEMS. BUT THEN MY BROTHER DIED AND I SPIRALED A LITTLE BIT AND DIDN’T PAY RENT FOR A MONTH AND A HALF TO TRY TO GET HIM BURIED AND THINGS LIKE THAT. AND IT JUST, IT JUST ALL WENT DOWNHILL FROM THERE. YOU WILL GIVE THE PROPERTY MANAGER THE BLUE FORM HARTNEY ON THE WAIT LIST FOR PUBLIC HOUSING ASSISTANCE FACILITATED THROUGH KNOXVILLE’S COMMUNITY ACTION COMMITTEE, A SOCIAL SERVICES AGENCY THAT ALSO PROVIDES MEALS, TRANSPORTATION AND UTILITY ASSISTANCE TO THOSE IN NEED. WE ARE WORKING RIGHT NOW WITH OVER 100 FAMILIES WHO ARE EXPERIENCING HOMELESSNESS. WE’VE GOT ABOUT 35 ON OUR WAITING LIST, AND IT’S HEARTBREAKING TO TELL SOMEONE WHEN THEY COME IN, YOU KNOW, I’M SO SORRY. WE WILL GET TO YOU AS SOON AS POSSIBLE. ALL RIGHT. STRONG MAN IN THE BACK. I AM WORKING VERY, VERY HARD FOR MY KIDS TRYING TO GET US OUT OF THIS SITUATION. YES. WORKING HARD. QNESHIA TWEEDY SAYS INSPIRED BY THE LIFE, A HOME AND NEW JOB MIGHT BRING. I WANT MY KIDS TO BE LIKE ANY OTHER CHILD, BE ABLE TO ENJOY EXTRACURRICULAR ACTIVITIES, TO HAVE AFTER SCHOOL PROGRAMS, TO EVEN GO AND BE AT FRIENDS HOUSES AFTER SCHOOL. BUT AS DAY TURNS INTO NIGHT AND KNOXVILLE’S TEMPERATURE DIPS INTO THE 30S, BLANKETS, PILLOWS FOR NOW, HOME IS A TRUCK STOP. I KNOW YOU’RE GOING TO BE KIND OF COLD THE NIGHT PRINCESS. OUR FATHER, WHO ART IN HEAVEN EVEN THOUGH THEY’RE GOING THROUGH A HARD TIME. THEY KEEP SMILES ON THEIR FACES. AND I LOVE THAT ABOUT THEM. THEY HELP ME KEEP FOCUSED BECAUSE THEY DON’T LET THE SITUATION GET TO THEM FOREVER AND EVER. AMEN. GOOD JOB. GOOD NIGHT GUYS. I LOVE YOU. LOVE YOU TOO. IN KNOXVILLE, TENNESSEE. FOR MATTER OF FACT, I’M JESSICA GOMEZ. NEXT WEEK, A TWIST IN THE TWEEDIE FAMILY’S STORY. AND WE GET A LOOK AT SOME OF THE UNIQUE EFFORTS TO BUILD MORE AFFORDABLE HOUSING IN KNOXVILLE. CATCH THE SECOND PART OF JESSICA’S STORY RIGHT HERE ON. MATTER OF FACT, NEXT ON MATTER OF FACT, MOST AMERICANS SUPPORT SOME FORM OF LEGAL ACCESS TO ABORTIONS. PEOPLE ARE VERY COMPLICATED IN THE WAY THAT THEY THINK ABOUT ABORTION, BUT LAW ISN’T REALLY ABOUT NUANCE. HOW THE ISSUE IS TRANSLATING INTO LAW ACROSS THE COUNTRY. PLUS, PARENTS COSIGNING THEIR CHILDREN’S STUDENT LOANS WHILE STILL PAYING OFF THEIR OWN. THE CHALLENGES OF AFFORDING COLLEGE IN AMERICA. AND WE EXPLORE WHAT RECENT TAX CHANGES COULD MEAN FOR YOUR NEW YEAR PAYCHECK. YOU’RE WATCHING. MATTER OF FACT, AMERICA’S NUMBER ONE NATIONALLY SYNDICATED PUBLIC AFFAIRS NEWS MAGAZINE. FOR NEARLY FIVE DECADES, WOMEN IN AMERICA HAD A FEDERALLY PROTECTED RIGHT TO ABORTION. WELL, NOW, TWO YEARS AFTER THE DOBBS DECISION, MORE THAN HALF OF ALL WOMEN ABOUT 33 MILLION LIVE IN STATES WHERE ABORTION IS EITHER BANNED OR LIMITED. REPRODUCTIVE RIGHTS AND LAW WILL CONTINUE TO EVOLVE, INCLUDING UNDER THE INCOMING TRUMP ADMINISTRATION. KIMBERLY MUTCHERSON IS A PROFESSOR AT RUTGERS LAW SCHOOL, VISITING AT TEMPLE LAW SCHOOL, AND IS AN EXPERT IN REPRODUCTIVE JUSTICE AND LAW. IT’S SO NICE TO HAVE YOU IN STUDIO. THANK YOU FOR TALKING WITH ME. THANK YOU. SENTIMENT AROUND PUBLIC SUPPORT FOR ABORTION RIGHTS HAS INCREASED YEAR AFTER YEAR, INCREASING EVEN AS THOSE RIGHTS HAVE FALLEN DROPPED. I FIND THAT VERY CONTRADICTORY. I’M NOT SURE THAT IT’S TOTALLY CONTRADICTORY. IT’S TRUE THAT PEOPLE WILL PROTECT ABORTION RIGHTS, BUT OFTEN ONLY TO A PARTICULAR DEGREE. AND I THINK THAT’S A LOT OF WHAT WE’RE SEEING NOW. SO EVEN IN STATES WHERE THERE WERE THESE BALLOT INITIATIVES THAT SAID WE’RE GOING TO PROTECT ABORTION RIGHTS IN OUR STATE, THOSE STILL HAD LIMITATIONS TO THEM. SOME OF THOSE STATES THEN VOTED FOR DONALD TRUMP, WHO’S BEEN PRETTY EXPLICIT ABOUT WHAT HE’S THINKING ABOUT DOING AN ABORTION. RIGHT? THAT’S RIGHT. WHAT THEY’RE NOT RECOGNIZING IS THAT IF THE FEDERAL GOVERNMENT STEPS IN, OR IF CONGRESS STEPS IN AND DECIDES TO BAN ABORTION ACROSS THE COUNTRY, IT’S NOT GOING TO MATTER THAT YOU HAVE A CONSTITUTIONAL AMENDMENT IN YOUR STATE CONSTITUTION THAT PROTECTS ABORTION RIGHTS. FEDERAL LAW WILL TRUMP THAT. WHAT DO YOU EXPECT WILL BE THE CHANGES UNDER A NEW ADMINISTRATION DURING THE PRESIDENTIAL CAMPAIGN, PRESIDENT ELECT TRUMP SAID MANY TIMES, YOU KNOW, I’M NOT AN ARCHITECT OF PROJECT 2025, AND YET WE’RE WATCHING HIM START TO SORT OF FILL HIS LEADERSHIP ROLES WITH PEOPLE WHO WERE ARCHITECTS OF PROJECT 2025 AND PROJECT 2025 HAS A LOT TO SAY ABOUT ABORTION, SO IT HAS A LOT TO SAY ABOUT PEOPLE WHO ARE LOW INCOME, HAVING ACCESS TO MEDICAID FUNDS FOR ABORTION. I IMAGINE THAT THEY’RE GOING TO DO AS MUCH AS THEY CAN TO KEEP STATES FROM USING MEDICAID DOLLARS, WHICH OF COURSE IMPACTS LOW INCOME WOMEN AND THEIR ACCESS TO ABORTION CARE. THEY’RE GOING TO RE-IMPLEMENT WHAT WE CALL THE DOMESTIC GAG RULE, WHICH BASICALLY SAYS, IF YOU RECEIVE TITLE TEN FUNDING, WHICH IS FEDERAL FUNDING FOR FOR PURPOSES OF FAMILY PLANNING, YOU CAN NO LONGER REFER PEOPLE TO ABORTIONS. WE’RE GOING TO SEE CHANGES IN SEX EDUCATION. HOW THE FEDERAL GOVERNMENT DOES OR DOES NOT PROTECT ABORTION IN COURTS. SO, FOR INSTANCE, WE HAVE THE EMTALA CASE, AND THAT BASICALLY SAYS THE FEDS CAN OVERRIDE WHAT’S HAPPENING STATE WISE IF THE MOTHER’S LIFE IS IN DANGER, THEN DOCTORS CAN PERFORM AN ABORTION TO SAVE THE MOTHER’S LIFE. EXACTLY. AND THE FEDERAL GOVERNMENT TOOK THE POSITION THAT IF AN ABORTION IS WHAT SOMEBODY NEEDS TO BE STABILIZED IN AN EMERGENCY, THEN STATE LAWS THAT SAY ABORTION ISN’T ALLOWED, THOSE ARE GOING TO CANNOT BE ENFORCED IN THOSE CIRCUMSTANCES. NOW, THE TRUMP ADMINISTRATION IS NO LONGER GOING TO TAKE THE POSITION THAT EMTALA SHOULD OVERRIDE STATE LAW. SO WE’RE NOT GOING TO SEE THAT ANYMORE AS WELL. AND LOTS AND LOTS OF CHANGES AROUND ACCESS TO MEDICATION, ABORTION. WELL, LET’S TALK A LITTLE BIT ABOUT THAT. THE NUMBER OF PEOPLE WHO GET A MEDICATION ABORTION IS ACTUALLY MUCH HIGHER THAN I WOULD HAVE GUESSED. IT’S SOMETHING LIKE 63%. THAT’S RIGHT. AND MEDICATION ABORTION IS ONLY AVAILABLE REALLY IN THIS COUNTRY. IT’S ONLY AVAILABLE IN THE FIRST TRIMESTER. AND IT’S ACTUALLY TWO MEDICATIONS. IT’S ONE CALLED MIFEPRISTONE AND A SECOND ONE CALLED MISOPROSTOL. AND THERE WAS AN ATTEMPT TO GET MIFEPRISTONE, THAT FIRST DRUG TAKEN OFF OF THE MARKET THROUGH A LAWSUIT. AND THE PEOPLE WHO FILED THAT LAWSUIT WERE NOT ABLE TO BE SUCCESSFUL. NOW, YOU DON’T NEED A LAWSUIT. RIGHT NOW. YOU HAVE THE FDA, AND YOU CAN JUST SAY, EITHER WE NEVER SHOULD HAVE APPROVED THIS, AND WE’RE GOING TO PULL IT OFF THE MARKET, OR YOU CAN REINSTATE SOME REALLY ONEROUS REQUIREMENTS THAT USED TO EXIST FOR ACCESS TO MEDICATION AND ABORTION. DO YOU THINK THE NEXT STEP IS MOVING INTO BIRTH CONTROL? ABSOLUTELY. THERE ARE A NUMBER OF PEOPLE, WHETHER BECAUSE OF THEIR FAITH OR JUST THEIR BELIEFS ABOUT ABORTION, WHO BELIEVE THAT CERTAIN TYPES OF CONTRACEPTION, IUDS OR PLAN B ARE IN FACT CREATING ABORTIONS. IF YOU HAVE THE POWER TO DEFINE WHAT AN ABORTION IS, THEN YOU ALSO HAVE THE POWER TO KEEP PEOPLE FROM ACCESSING THOSE THINGS AS WELL. KIMBERLY MUTCHERSON IS A PROFESSOR AT TEMPLE UNIVERSITY SCHOOL OF LAW AND ALSO AT RUTGERS SCHOOL OF LAW. THANK YOU SO MUCH FOR JOINING US. REALLY APPRECIATE THE INSIGHT. THANK YOU. YOU BET. COMING UP, WHY A 1960S LAW AIMED AT MAKING IT EASIER FOR STUDENTS TO GET LOANS MEANS SOME ARE BURIED IN DEBT TODAY. PLUS, LOOKING TO PUT MORE AWAY FOR RETIREMENT, THE TAX CHANGE COMING IN THE NEW YEAR THAT COULD HELP. JANUARY BRINGS ANOTHER DEVELOPMENT FOR STUDENT LOAN BORROWERS. THE EDUCATION DEPARTMENT MUST REPORT ANY MISSING OR LATE PAYMENTS TO NATIONAL CREDIT REPORTING AGENCIES THAT COULD TRIGGER MANDATORY COLLECTIONS AND HURT PEOPLE’S CREDIT SCORES. ROUGHLY 43 MILLION AMERICANS HAVE OUTSTANDING FEDERAL STUDENT LOAN DEBT, AND IT MIGHT SURPRISE YOU WHO’S CARRYING THE AVERAGE HIGHEST BALANCE. IT’S BORROWERS AGES 50 TO 61 YEARS OLD, OWING AN AVERAGE OF $45,000 EACH. OUR SPECIAL CORRESPONDENT, JULIE CHEN TRAVELED TO THE SUBURBS OF PHILADELPHIA TO HELP US UNDERSTAND WHY OLDER BORROWERS FACE EVEN HIGHER CONSEQUENCES FOR DEFAULTING ON THEIR LOANS. FOUR YEARS LYSTRA SMALL CLOUDEN HAS KNOWN THE RECIPE FOR SUCCESS. PIGEON PEAS AND COCONUT MILK WERE TRINIDADIAN PILAU. THIS IS TRINIDADIAN COMFORT FOOD AND IN LIFE SHE BELIEVED THE RECIPE FOR SUCCESS FOR HERSELF AND FOR HER CHILDREN WAS EDUCATION. I DECIDED TO GO TO SCHOOL, GET MY DEGREES SO THAT MY KIDS WILL BE SAYING, OKAY, MOMMY IS DOING IT, I CAN DO IT. I GOT MY OWN BACHELOR’S DEGREE, MOVED ON TO MY GRADUATE DEGREE, AND THEN TO MY PHD. ALL THAT EDUCATION CAME AT A COST, A PRICE LYSTRA COULDN’T AFFORD. THIS IS A STATEMENT OF MY STUDENT LOAN BALANCE. BY THE TIME SHE RECEIVED HER DOCTORATE IN 2015, LYSTRA OWED $124,000 FOR HER OWN EDUCATION. IN ADDITION, SHE’D COSIGNED ANOTHER $108,000 IN STUDENT LOANS FOR TWO OF HER CHILDREN, EVEN THOUGH SHE MADE REGULAR PAYMENTS UP TO $4,300 A MONTH. THE INTEREST CONTINUED TO ADD UP. BY THIS YEAR, SHE STILL OWED $331,000, NEARLY 100,000 MORE THAN THE ORIGINAL PRINCIPAL. ALL THE YEARS THAT YOU’VE BEEN REPAYING, IT JUST KEEPS YOU NEVER ABOVE WATER. LAID OFF FROM HER EXECUTIVE LEVEL JOB EIGHT YEARS AGO, LYSTRA IS NOW 67 YEARS OLD. SHE SEARCHED FOR WORK BUT NOW HAS LITTLE HOPE. SHE CAN FIND A JOB THAT WILL ALLOW HER TO MAKE ANY MORE PAYMENTS AT THE D.C. THINK TANK NEW AMERICA POLICY ANALYST TIA CALDWELL SAYS LYSTRA SITUATION IS NOT UNUSUAL. THERE ARE 3.5 MILLION PEOPLE WHO ARE OVER 60 AND HAVE STUDENT LOAN DEBT, AND THEY HAVE $125 BILLION WORTH OF DEBT, BILLION. BILLION. IT IS THE UNINTENDED CONSEQUENCE OF AN EFFORT TO HELP MORE YOUNG AMERICANS GO TO COLLEGE. IN 1965, LYNDON JOHNSON SIGNED LEGISLATION THAT GUARANTEED FEDERAL BACKING FOR STUDENT LOANS SO THAT EVEN WHEN STUDENTS DEFAULTED, BANKS WOULDN’T LOSE MONEY AND THEREFORE WILLINGLY LENT MORE. THE SYSTEMS EVOLVED SINCE THEN, BUT EVEN TODAY, STUDENT LOANS ARE EASY TO GET, OFTEN JUST ONE CLICK AWAY. MANY OLDER BORROWERS ARE BORROWING FOR THEIR OWN EDUCATION. THEY GO TO SCHOOL AND THEY’RE HOPING TO MAKE MORE MONEY SO THEY CAN PAY OFF THEIR STUDENT LOAN. AND THAT’S THEY HAVE NO COLLATERAL. THEY’RE JUST BETTING ON THE FUTURE. NEW AMERICA’S RESEARCH FOUND 4 IN 10 OLDER BORROWERS HAVE BEEN TRYING TO PAY THEIR DEBT BACK FOR MORE THAN 20 YEARS, AN ADDED FEAR THE GOVERNMENT CAN GARNISH IRS CHECKS, EVEN SOCIAL SECURITY PAYMENTS FROM BORROWERS WHO DEFAULT. AFTER A WHILE. YOU BECOME VERY DEFEATED AND YOU ASK YOURSELF, IS IT ALL WORTH IT? WHY DID I DO THIS IN HORSHAM, PENNSYLVANIA? I’M JOEY CHEN, FOR MATTER OF FACT AHEAD ON MATTER OF FACT FEELING THE IMPACTS OF INFLATION. WHAT THE IRS IS DOING TO POTENTIALLY HELP EASE THE BURDEN FOR SOME FAMILIES. AND THESE CARGO SHIPS NOW HAVE GIANT SAILS. COULD THEY HELP MAKE THE INDUSTRY A BIT MORE ENVIRONMENTALLY FRIENDLY? TO STAY UP TO DATE WITH, MATTER OF FACT, SIGN UP FOR OUR NEWSLETTER AT MATTEROFFACTTV. WELCOME BACK TO MATTER OF FACT, SOME CHANGES TO THE UPCOMING TAX YEAR COULD MEAN A BOOST TO YOUR TAKE HOME PAY. STARTING IN JANUARY, THERE WILL BE NEW FEDERAL INCOME TAX BRACKETS THAT ARE DESIGNED TO TAKE INFLATION INTO ACCOUNT. FOR EXAMPLE, THIS YEAR IF YOU MADE $48,000, YOU’RE IN THE 22% TAX BRACKET. IF YOUR INCOME STAYS THE SAME IN 2025, YOU’LL DROP DOWN TO THE 12% TAX BRACKET, MEANING YOU’LL PAY LESS FEDERAL TAX NEXT YEAR. THERE ARE A FEW MORE CHANGES. THE STANDARD TAX DEDUCTION FOR SINGLE FILERS HAS BEEN RAISED TO $15,000 FOR NEXT YEAR, UP $400 FOR MARRIED AND JOINT FILERS. THE STANDARD DEDUCTION HAS JUMPED BY $800 TO $30,000. AS FOR 401 K CONTRIBUTIONS, THE EMPLOYEE DEFERRAL LIMIT IS NOW $23,500, AND OLDER WORKERS BETWEEN THE AGES OF 60 AND 63 CAN MAKE CATCH UP CONTRIBUTIONS OF $11,250. THAT HELPS THOSE WORKERS SAVE JUST OVER $34,000 MORE FOR RETIREMENT. ABOUT 14% HIGHER THAN IN 2020. FOR ALL OF THESE CHANGES APPLY TO THE UPCOMING TAX YEAR FOR RETURNS THAT ARE FILED IN 2026. STILL AHEAD ON MATTER OF FACT, SOME COMPANIES IN THE SHIPPING INDUSTRY ARE SETTING SAIL ON A NEW EFFORT TO REDUCE CARBON EMISSIONS. WE EXPLAIN HOW ITAND FINALLY, A INVENTION IS MAKING A COMEBACK IN THE SHIPPING INDUSTRY. MARINERS ARE ADDING SAILS TO CARGO SHIPS. WHY? WELL, THE GOAL IS TO REDUCE THEIR CARBON FOOTPRINT BY RELYING ON WIND INSTEAD OF FUEL TO TRANSPORT GOODS. SHIPS CARRY MORE THAN 80% OF GLOBAL TRADE, MAKE UP NEARLY 3% OF GREENHOUSE GAS EMISSIONS, LEADING THE WAY IN THE PUSH FOR CLEAN TRANSPORTATION IS FRENCH CHOCOLATE AND COFFEE MAKER GRAIN DE SAIL. THIS YEAR, THE COMPANY LAUNCHED THEIR SECOND WIND POWERED CARGO SHIP. IT’S ABOUT HALF THE LENGTH OF A SOCCER FIELD, CAN CARRY UP TO 350 TONS OF GOODS. CREWS ONLY USE A DIESEL ENGINE TO MANEUVER IN AND OUT OF PORT, AND THEY’RE NOT DONE YET. THE COMPANY IS ALREADY WORKING ON A THIRD SHIP THAT WILL BE TWICE AS LONG, AND CARRY EIGHT TIMES THE CARGO. IT’S EXPECTED TO BE IN SERVICE BY 2027. THAT’S IT FOR THIS EDITION OF MATTER OF FACT, I’M SOLEDAD O’BRIEN, AND I’LL SEE YOU BACK HERE NEXT WEEK TO WATCH MORE STORIES LIKE THIS ANYTIME, HEAD TO MATTEROFFACTTV.