5 things to know for Jan. 29: Middle East, Border battle, Taxes, Gas prices, China

By CNN Newsource

Published January 29, 2024 3:19 am

By Alexandra Banner, CNN

(CNN) — The lineup is set for Super Bowl LVIII in Las Vegas, where the Kansas City Chiefs will face the San Francisco 49ers on February 11. It will be a rematch from four years ago — with the possible addition of Taylor Swift’s attendance boosting female viewership.

Here’s what else you need to know to Get Up to Speed and On with Your Day.

1. Middle East

A drone attack at a US outpost in Jordan on Sunday killed three American service members and wounded more than 30 others. This marks the first time US troops have been killed by enemy fire in the Middle East since the start of the war between Israel and Hamas. President Joe Biden vowed to retaliate after the deadly attack, saying that while facts are still being gathered, “we know it was carried out by radical Iran-backed militant groups operating in Syria and Iraq.” Iran has denied any involvement. Meanwhile, a growing number of countries — including the US — are cutting off funding to the main UN agency in Gaza following allegations that staff members were involved in the October 7 Hamas attacks on Israel.

2. Border battle

A possible border deal could head to the Senate floor in the coming days, Sen. Chris Murphy told CNN on Sunday. However, the question remains whether Republicans are going to listen to former President Donald Trump, who has tried to tank the compromise. Trump in recent weeks has tried to kill the bipartisan legislation, in part, because he wants to campaign on the issue this November and doesn’t want President Biden to score a victory in an area where he is politically vulnerable. Components of the deal include a new authority that allows the president to shut down the border between ports of entry when unlawful crossings reach high levels, reforming the asylum system to resolve cases in a shorter timeframe and expediting work permits.

3. Taxes

The IRS will begin accepting and processing 2023 federal income tax returns today. But if you’re not an early bird, the filing deadline for most people is April 15. If you are owed a refund — like the majority of tax filers — the IRS typically issues them within 21 days of accepting your return. Financial experts say the best way to ensure you get your refund as quickly as possible is to fill out your return accurately and completely, electronically file it and select “direct deposit” when asked how you want to receive payment. You might also want to review some of the most common and costly tax return mistakes the IRS sees to help ensure you receive a speedy payment.

4. Gas prices

The average price for a gallon of gas in the US is $3.10 — a significant decrease from the all-time peak of $4.67 in fall 2022. Still, drivers in many states consistently pay much more for gas than the rest of the country. California’s current average price is $4.49, largely due to environmental restrictions, higher taxes and a shrinking number of regional refineries. Hawaii is the only state currently with higher gas prices than California, but the state’s geographical isolation plays a large role in prices. As for the rest of the nation, analysts say gas prices will hold steady for now, even amid escalating violence in the Middle East. That’s because some economic factors — such as weaker demand in countries like China and Germany and an ample oil and gas supply — are superseding concerns about the violence in the region.

5. China

The embattled Chinese real estate firm Evergrande has been ordered to liquidate in a massive setback for China’s ailing property sector that could ripple through the world’s second-largest economy. Court-appointed liquidators will manage the company and sell its assets to pay off its debt. After the process is completed, the company, previously China’s second-biggest real estate firm, will cease to exist. Apart from a record downturn in real estate, investors have also been concerned about a myriad of economic problems facing China, including deflation, debt, a falling birthrate and a shrinking workforce, as well as Beijing’s shift towards ideology-driven policies that has rattled the private sector and scared away foreign firms.

BREAKFAST BROWSE

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TODAY’S NUMBER

6
That’s how many people were injured after an American Airlines flight from Los Angeles made a hard landing at Kahului Airport in Hawaii on Saturday. The plane has been taken out of service and the FAA announced it will investigate the incident.

TODAY’S QUOTE

“More and more families can’t afford the cost of home energy. They are falling behind on their bills.”

— Mark Wolfe, the executive director of Citizens for Citizens, a non-profit that helps Americans with their energy bills. Wolfe told CNN that the organization has been forced to cut the amount of aid it can give people in need as Congress moves toward allocating $2 billion less for the Low Income Home Energy Assistance Program, known as LIHEAP.

TODAY’S WEATHER

Check your local forecast here>>>

AND FINALLY …

‘Higher’ education with an amazing view
A treehouse in the Amazon serves as a classroom to learn about the environment and the impact of deforestation. Watch this video to take a look.

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