Connect with us

CBS News

What to know about Kamala Harris, leading contender to be Democratic presidential nominee

Avatar

Published

on


Washington — Vice President Kamala Harris has emerged as a top contender to replace President Biden at the top of Democratic ticket following his historic decision to withdraw from the 2024 race for the White House.

Mr. Biden roiled the general election when he announced Sunday that he would be stepping aside, ending weeks of pressure from within the Democratic Party that began after his shocking performance at the first presidential debate on June 27.

The president then threw his support to Harris, saying his decision to select her as his vice president was the best decision he’s made.

“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year,” he wrote on social media. “Democrats — it’s time to come together and beat Trump. Let’s do this.”

The president initially resisted their calls to forego his bid for a second term, but relented after the drumbeat that began with rank-and-file Democrats remained steady and grew to include more high-profile Democrats who warned Mr. Biden’s continued candidacy threatened the party’s chances of not only holding onto the White House, but maintaining control of the Senate and flipping the House.

Harris, 59, is among the leading candidates to succeed Mr. Biden as the Democratic presidential nominee.

A vice president of firsts

A former senator from California, she was a one-time opponent of president’s during the 2020 Democratic primary, launching her campaign on Martin Luther King Jr. Day in January 2019 and ending her presidential run in December of that year. She endorsed Mr. Biden several months later.

The president selected Harris as his running mate in August 2020, a historic pick that made her the first Black woman selected as a vice presidential candidate for a major party. She was also the first South Asian nominee on a presidential ticket and just the third woman nominated for vice president.

Harris continued to make history when she was elected vice president, becoming the first woman, first Black American and first South Asian American to serve in the position.

As vice president, Harris was tasked with overseeing tough issues including migration issues at the southern border, voting rights and abortion. She has been a steady presence on the campaign trail, frequently warning voters about the impacts a Republican president would have on abortion access.

Serving as president of the Senate, Harris broke a nearly 200-year-old record for the most tie-breaking votes cast by a vice president and presided over the historic confirmation of Supreme Court Justice Ketanji Brown Jackson, the first Black woman to serve on the nation’s highest court.

Early years and personal life

Kamala Devi Harris was born Oct. 10, 1964 in Oakland, California, to Shymala Gopalan and Donald Harris. Her mother emigrated to the U.S. from India in 1960 to pursue a doctorate in endocrinology at the University of California,at Berkeley. Harris’ father came to the U.S. from Jamaica in 1961 to study at Berkeley and worked as a professor at Stanford University. She has a younger sister, Maya.

Harris’ mother, who was a breast cancer scientist, died in 2009 of colon cancer.

The vice president graduated from Howard University in 1986 and received her law degree from the University of California Hastings College of Law in 1989.

She and Doug Emhoff married in 2014, and her election to vice president made Emhoff the first second gentleman of the United States. Emhoff, a lawyer, has two children from a prior marriage. He is the first Jewish spouse of an American president or vice president and has taken a leading role for the Biden administration in speaking out against antisemitism.

Harris’ career

Harris began working as a prosecutor in Alameda County, California, after graduating from law school and in 1998, became an assistant district attorney in San Francisco. From there, she led the San Francisco City Attorney’s Division on Families and Children.

Harris was elected district attorney of San Francisco in 2003, the first woman to hold the role, and officiated the first same-sex wedding after Proposition 8, California’s ballot initiative to ban gay marriage, was struck down by a federal court. She led the district attorney’s office until 2010, when she was elected statewide as attorney general. Her election as the 32nd attorney general made her the first woman and first Black person to hold the position.

Harris was elected to federal office in 2016 when California voters selected her to succeed retiring Sen. Barbara Boxer in the upper chamber. During her tenure in the Senate, she served on the Judiciary and Intelligence Committees.

Just before she was sworn in as vice president in January 2021, Harris resigned from the Senate.



Read the original article

Leave your vote

CBS News

New details on 15-year-old accused of killing parents, 3 siblings

Avatar

Published

on


New details on 15-year-old accused of killing parents, 3 siblings – CBS News


Watch CBS News



A 15-year-old boy from Fall City, Washington, is suspected of killing his parents and three of his siblings. More details about the alleged crimes are emerging through court documents. CBS News Carter Evans has the latest.

Be the first to know

Get browser notifications for breaking news, live events, and exclusive reporting.




Read the original article

Leave your vote

Continue Reading

CBS News

Oct 25: CBS News 24/7, 1pm ET

Avatar

Published

on


Oct 25: CBS News 24/7, 1pm ET – CBS News


Watch CBS News



Trump campaigns in Texas to reinforce message on immigration and border security; Biden apologizes for federal government’s role in Indian boarding schools.

Be the first to know

Get browser notifications for breaking news, live events, and exclusive reporting.




Read the original article

Leave your vote

Continue Reading

CBS News

How much does a $30,000 HELOC cost monthly now that rates are falling?

Avatar

Published

on


gettyimages-587198616.jpg
HELOC payments could soon drop as additional interest rate cuts are issued.

Getty Images


If you’re looking for an inexpensive way to access a large sum of money right now, you’d be hard-pressed to find a better alternative than a home equity line of credit (HELOC)

Compared to personal loans and credit cards, HELOC interest rates are many points lower (the average credit card rate now is nearly triple what a HELOC rate is). Unlike some other borrowing options, home equity loans and HELOCs also provide access to a substantial amount of funding. Right now, the average homeowner has around $330,000 worth of equity to tap into. And HELOC interest rates are variable, meaning that they’re well-positioned to decline as additional interest rate cuts are issued.

So, if you’re thinking a HELOC is your best way to access extra financing currently, you’re likely not wrong. To confirm this speculation, however, it’s critical to carefully calculate your potential monthly costs. No matter whether you’re looking to borrow $100,000 with a HELOC or just $30,000, you must understand your payments. But, how much does a $30,000 HELOC cost monthly now that rates are falling? That’s what we’ll calculate below.

See how low of a HELOC interest rate you could secure here.

How much does a $30,000 HELOC cost monthly now that rates are falling?

When calculating HELOC monthly payments it’s important to remember that these are just estimates. After all, variable interest rates are exactly that – variable. For HELOCs, borrowers can expect them to change monthly. But while that may have been an issue in recent years as rate hikes were continuous, it’s a timely benefit now in the face of what may be an extended rate-cutting campaign. Here, then, is what a $30,000 HELOC could cost monthly now, tied to two common repayment periods and the assumption that the rate will remain static:

  • 10-year HELOC at 8.69%: $375.01 per month
  • 15-year HELOC at 8.69%: $298.77 per month

So while you’ll save more each month by going with the longer option, you’ll pay more in interest to do so. But remember that these payments are only approximated. Here, then, is what they could become if rates fall by 25 basis points in November:

  • 10-year HELOC at 8.44%: $371.00 per month
  • 15-year HELOC at 8.44%: $294.37 per month 

That noted, HELOC interest rates are unlikely to fall by the same precise amount that the federal funds rate does. So calculate on the assumption that it does, but understand that they don’t move by the same amount each month.

Get started with a low-rate HELOC online now.

Don’t forget about your credit score

Remember that the interest rates you see listed on lender websites are as low as they are on the assumption that borrowers are qualified – meaning that they have a high credit score and clean credit background. If you don’t have both, you won’t be eligible for the above rates and may have to pay significantly more, depending on your financial circumstances. If you have a low score – and can afford to delay the needs you were planning to cover with a HELOC – it may be worth improving your credit before applying. So, don’t apply for other credit in the interim, pay down (or off) all of your current debts and make sure to pay your current monthly payments on time (or, preferably, early).

The bottom line

A $30,000 HELOC comes with monthly payments between $299 and $375, approximately, right now. But those rates will change over the life of the line of credit. And you won’t be eligible for the best rates and terms if you don’t have a good credit score, so make sure to check that before applying. Finally, remember that your home is collateral in any home equity borrowing exchange, therefore it’s critical that you withdraw only an amount that you can afford to pay back or you’ll risk losing your home in the process.



Read the original article

Leave your vote

Continue Reading

Copyright © 2024 Breaking MN

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.