Things To Do In SW Florida

By CORA LEWIS

NEW YORK (AP) — Amid a federal overhaul of student loan plans, many borrowers have been left wondering what it means for their hopes of loan forgiveness. In particular, those who are enrolled in a repayment plan known as income-based repayment, or IBR, have wondered if forgiveness will still be available to them.

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A recent update from the Education Department said forgiveness through the IBR plan is paused while systems are updated. “IBR forgiveness will resume once those updates are completed,” the agency said.

IBR is not affected by a federal court’s injunction blocking former President Joe Biden’s Saving on a Valuable Education, or SAVE, plan. The IBR plan was created by Congress separately from other existing repayment plans, including those known as PAYE and ICR. It’s also exempt from some changes coming from President Donald Trump’s tax and spending bill. read more

Commissioners in Seminole County, where elected leaders have long prided themselves on keeping taxes low, voted Tuesday to hike property taxes for the first time in nearly two decades.

Under the higher rate, the owner of a home with a taxable value of $300,000 would see a $144 property tax jump.

But it’s not a done deal. Commissioners will vote on the final tax rate Sept. 23, before Seminole’s new fiscal plan goes into effect on Oct. 1.

Acknowledging their decision was not easy, commissioners said Seminole — like nearly every other local government across the state — is struggling with soaring insurance costs, persistent inflation, state financial mandates and expanding mass transit services. Seminole also is grappling with an increasing number of sheriff’s deputies seeking better pay at other law enforcement agencies.

Commissioners — all Republicans — admitted they’ve waited too many years to either raise taxes or look for other revenue sources to pay for the increasing amount of services that a growing number of citizens have expected. read more

WASHINGTON (AP) — OpenAI CEO Sam Altman warned the financial industry of a “significant impending fraud crisis” because of the ability of artificial intelligence tools to impersonate a person’s voice to bypass security checks and move money.

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Altman spoke at a Federal Reserve conference Tuesday in Washington.

“A thing that terrifies me is apparently there are still some financial institutions that will accept the voiceprint as authentication,” Altman said. “That is a crazy thing to still be doing. AI has fully defeated that.” read more

By DAMIAN J. TROISE

NEW YORK (AP) — As the stock market pushes into record territory and bargains become harder to find, investors are once again turning to some of Wall Street’s beaten down companies in hopes of a quick score.

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The latest so-called meme stocks are the department store Kohl’s, which has surged this week, and the online-based real estate company Opendoor Technologies, which has skyrocketed this month. Both companies have been struggling in their respective sectors.

Wall Street defines a meme stock as a stock that gains significant popularity and trading volume, primarily driven by social media hype and online communities, rather than the company’s fundamental financial performance. Think GameStop and AMC Entertainment in 2021, and a few subsequent instances. read more

By MICHAEL R. BLOOD and AMY TAXIN, Associated Press

LOS ANGELES (AP) — There are thousands of illegal marijuana farms around the country.

But when the federal government decided to stage one of its largest raids since President Donald Trump took office in January, it picked the biggest legal grower in California.

Nearly two weeks later, the reason for the federal raid at two Glass House farm sites northwest of Los Angeles remains unclear and has prompted speculation. Some say the raid was intended to send a chilling message to immigrants in the U.S. illegally — but also to rattle the state’s legal cannabis industry.

Meanwhile, the Republican Trump administration has been feuding with heavily Democratic California over funding for everything from high-speed rail construction to wildfire relief, so it’s also possible Glass House was pulled into a broader conflict between the White House and Sacramento.

“There are plenty of other places they can go to find illegal workers,” said political consultant Adam Spiker, who advises cannabis companies. “A lot of people believe there is a hint of politics in this. It’s federal enforcement coming into California to go after cannabis.” read more