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Democrats to introduce paid family leave legislation: Here’s how the headlines can affect your money

The new legislation would provide universal paid family and medical leave of up to 12 weeks.

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The S&P 500 hit a record high Monday. Democrats will introduce paid family and medical leave legislation. Plus, book your national park reservations early. Here's how the headlines could affect your money.

Markets close mixed on Monday 

The S&P 500 hit a new record Monday at the closing bell, after rising 0.2%. The Nasdaq climbed 0.9%, and the Dow fell 0.2%. Markets dipped lower Tuesday morning.

Democrats to introduce legislation on parental and medical leave 

House Democrats plan to introduce the Building an Economy for Families Act on Tuesday, which would provide universal paid family and medical leave of up to 12 weeks and make permanent the American Rescue Plan's expansion of tax credits, including the Child Tax Credit, the Earned Income Tax Credit, and the Child and Dependent Care Credit. 

Under the American Rescue Plan, the Child Tax Credit provides up to $3,600 per child for 2021 depending on the age of the child and the family's income. Monthly installments of up to $300 per child will start going out to families in July. President Joe Biden's recently announced American Families Plan would only extend the credit through 2025.

National parks will require reservations in summer 2021

Planning a summer 2021 vacation at a national park? Take note: Yosemite National Park, Rocky Mountain National Park, Glacier National Park, and Acadia National Park will all require reservations. Many parks will also implement Covid-related capacity restrictions. 

Make your reservations and book accommodations ASAP, experts suggest, or push your visit to the fall, when demand won't be as high. You could also try visiting a less popular site such as Mount San Jacinto State Park, outside Palm Springs.

Words you've heard: stock split 

Speculation is rising that an Amazon stock split could take place in 2021, possibly even this week. A stock split increases the number of shares in a company by issuing new shares to current shareholders. In doing so, it decreases the market price per share. For example: If you had one $1,000 share, after a 4-for-1 split, you'd have four $250 shares.

Experts consider splits a good thing: Shareholders get more shares for their money, and lower share prices draw in more investors.

Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.

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