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By Hiranmayi Srinivasan, Associate Editor

What's Happening Today

Happy Friday! It's Hira with your daily morning digest.

As the economic reports from the week have shown us, the highest consumer inflation in decades is making everything from groceries to gas more expensive for consumers like you and me. Tell us how rising inflation has affected your wallet by taking our short survey. We'll share the results, and your answers are anonymous.

If you haven't already, remember to file your taxes this weekend—the deadline to file is right around the corner on Monday, April 18 (April 19 if you live in Maine or Massachusetts). The average tax refund is $3,226 as of April 1, up 11.5% from last year, thanks to expanded tax credits (such as the child tax credit), which provided financial relief to consumers during the pandemic.

And in other news, a new survey by The Balance found that 56% of U.S. adults support immigration reform policies outlined in President Joe Biden's Build Back Better (BBB) plan. Immigration policies in the BBB plan include granting five-year work permits to an estimated 7 million undocumented immigrants who have lived in the U.S. since Jan. 1, 2011, and investing in the U.S. Citizenship and Immigration Services to make the immigration process smoother. Studies have shown that immigration can positively impact the economy, by creating new jobs and leading to overall growth and productivity. Work permits would provide better job opportunities and financial security and would enable undocumented immigrants to contribute nearly $10 billion in annual federal, state, and local taxes, according to bipartisan political organization FWD.us.

For The Balance's second Financial Literacy Month IG live series, we're discussing the topic of building (generational) wealth. Join The Balance Editor-in-Chief Kristin Myers with featured guest Kara Stevens, finance coach, speaker, and author. The event is on Tuesday, April 19, at 12 p.m. Eastern. Follow us on Instagram to get updates on The Balance's live events this month!

- Hira

Editors' Picks

Your Grocery List Ranked by Inflation (The Balance)

Supply Chain Hurdles Will Outlast Pandemic, White House Says (The New York Times)

Should You File a Tax Extension? There Are Pros and Cons. (The Balance)

What To Know About How and When To Pay the IRS (The Balance)

California Considers the Four-Day Workweek (The Wall Street Journal)

Pros and Cons of Roth IRAs (The Balance)

4 Reasons You Should Consider Opening a CD (The Balance)

The ABCs of Money for Kids: U Through Z (The Balance)

Off the Charts

Over half of U.S. adults support immigration reform policies outlined in President Joe Biden's Build Back Better (BBB) plan, according to a new survey conducted by The Balance.

However, results showed a political divide on BBB policies relating to undocumented immigrants. Nearly three-quarters (73%) of respondents who identified as liberal expressed support for granting five-year work permits to undocumented immigrants who have lived in the U.S. for more than a decade, while less than half (44%) of conservatives backed the measure.

Number of the Day

18% - That's how much a measure of Americans' expectations for the future of their own finances and the broader economy improved in early April, a surprise to economists.

For The Balance's second Financial Literacy Month IG live series, we're discussing the topic of building (generational) wealth. Join our Editor-in-Chief, Kristin Myers with featured guest Kara Stevens, finance coach, speaker and author. The event is on Tuesday, April 19 at 12 p.m. EST. Follow us on Instagram to get updates on The Balance's live events this month!

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