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Tag: retirement
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Maryland Rep. Steny Hoyer will retire after 60 years in elected office – WTOP News
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Hoyer will not seek reelection and will retire at the end of his current term. After nearly 60 years in public office, the 86-year-old congressman stated he wanted to “pass the baton” while still in good health.
Multiple sources reported Wednesday evening that Maryland 5th District Rep. Steny Hoyer will be retiring from the House.
The Washington Post first reported that in a sit-down interview, 86-year-old Hoyer said he reached the decision over the holidays with his family. He stated that he wanted to pass “the baton” while still in good health.
Washington Post reporter Paul Kane told WTOP’s Nick Iannelli that Hoyer is still “pretty darn sharp,” though the longtime Maryland Democrat suffered a stoke in August 2024.
“He didn’t want to be one of those people who stuck around and ended up being pushed around in a wheelchair or getting too forgetful. There’s been a lot of those in recent years, Democrats and Republicans alike in Congress,” Kane said.
Hoyer is the third-longest serving member of the House of Representatives, having held his seat since 1982.
“I think that Steny Hoyer has basically come to a peaceful point in his life where he has decided he accomplished everything he possibly could have, and that now is the time to finally step away from politics after close to 60 years,” WTOP Capitol Hill Correspondent Mitchell Miller said.
Hoyer and former House Speaker Nancy Pelosi both worked together for the same lawmaker when they first got to Congress decades ago. The two rose through the ranks together, with Hoyer serving as the No. 2 leader among House Democrats for many years.
He served as House Majority Leader when Pelosi became the first woman to serve as Speaker of the House. While they had a longtime rivalry, they also had a healthy respect for each other.
Hoyer has acknowledged that he would have liked to have become House Speaker, but it was not meant to be.
He stepped down from his role as House Majority Leader in 2022, endorsing Hakeem Jeffries as his successor. Hoyer continued his role as a Maryland representative and member of the House Appropriations Committee.
The veteran lawmaker has still had a major impact on Maryland politics in recent years. He provided an early endorsement to Wes Moore, who now serves as governor and is seen as a rising star within the Democratic Party. He also endorsed Angela Alsobrooks, who is now Maryland’s junior U.S. senator.
Hoyer’s departure could lead to a shake-up on the Prince George’s County Council, setting off a contested primary. In Prince George’s County, at least one member of the county council and one state delegate were waiting to see what Hoyer decides to do, with the intention of jumping in if the longtime incumbent decides to retire.
“It’s going to cause a ripple effect,” Kane said. “You’ll probably end up with people in small city councils who end up getting seats for the first time in their life in politics because of the ripple effect that this creates throughout the region.”
In terms of the 5th District race, Miller said it will very likely be a competitive race with many candidates vying for the seat.
“I think it’s just going to be a very, very difficult position to fill. Obviously, you have a change in the generations moving forward, but Steny Hoyer has just had a profound impact on Maryland politics,” Miller said.
While he’s leaving Congress after a storied political career, Hoyer seems content with all he has accomplished.
A spokeswoman for Hoyer only told WTOP that he will speak on the House floor at 10 a.m. on Thursday.
WTOP’s Mitchell Miller contributed to this report.
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Ciara Wells
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Florida Gaming Regulator Doubles Down on Illegal Gambling Raids
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Posted on: January 6, 2026, 02:00h.
Last updated on: January 5, 2026, 04:03h.
- Florida gaming regulators seized over $14 million from illegal gambling businesses in 2025
- The state also confiscated 6,725 unregulated gambling machines last year
The countless illegal gambling rooms across Florida have been put on notice that their illicit businesses are being targeted by law enforcement.
The Triple Cherry Arcade in Ft. Myers is an illegal gambling outfit disguised as an arcade. Florida Attorney General James Uthmeier is calling on state lawmakers to increase penalties for running an illegal gambling operation from misdemeanors to felonies. (Image: Google Maps) The Florida Gaming Control Commission (FGCC) is the chief gaming regulator of all forms of lawful casino gambling, parimutuel wagering, and sports betting in the Sunshine State. The agency’s mission is to “preserve and protect” the integrity of gaming activities, including criminal investigation and enforcement.
The gaming regulator says its raids last year of unregulated gambling parlors, often masquerading as arcades, resulted in the seizure of $14,474,336. The regulator doubled the roughly $7.1 million it seized from illegal casinos in 2024.
“I thank Governor Ron DeSantis and the Florida Legislature for their ongoing support of the Florida Gaming Control Commission. Their actions strengthen Florida’s gambling laws and help protect our communities,” said FGCC Executive Director Alana Zimmer.
“The FGCC has been working diligently to halt illegal gambling through enforcement actions across the state, demonstrating the dedication of FGCC’s law enforcement officers,” Zimmer added.
Record Crackdown
Along with the more than $14.4 million in seized money, the FGCC says it captured a record 6,725 illegal slot machines during the enforcement actions last year. The department seized only 1,287 illegal gaming terminals in the prior year.
Such gaming machines are not tested or regulated by the state for fair play and consumer safeguards. Players have no assurances that the machines pay, with some machines found programmed to pay out far below slot machines found inside Seminole and Hard Rock casinos.
The FGCC and state Attorney General James Uthmeier are hopeful that 2026 is the year when state lawmakers elevate penalties for running an illegal gambling business. Currently, violators are subjected to only misdemeanor charges.
It’s not enough of a deterrent. I encourage the Florida Legislature to pursue heightened criminal penalties and increase the current misdemeanor charge to a felony,” Uthmeier said in November.
“Not only does it violate our state’s rule of law and put our consumers at risk, but it often breeds other illicit acts, like human and drug trafficking, money laundering, and racketeering,” the AG continued.
Retirees Targeted
With Florida home to one of the largest retiree populations in the country, many schemers have preyed on the older people with illegal gambling arcades where the machines rarely hit big. In September, Casino.org reported on one such arcade near The Villages that reportedly won over $24 million from players in just a few years.
Right now, people can stand to make millions off unlawful gambling operations and just end up with a slap on the wrist,” Uthmeier said.
Slot machines are limited to eight licensed pari-mutuel facilities in Miami-Dade and Broward counties, along with casinos owned by the Seminole Tribe. For a list of legal, regulated slot machine locations, click here.
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Devin O’Connor
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Your TFSA reset for the new year – MoneySense
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New TFSA contribution room
Every Canadian resident aged 18 or older has $7,000 of new TFSA room as of January 1, 2026. This has been the annual maximum for three consecutive years now, but it could possibly rise in 2027 to $7,500. The 2027 TFSA limit will be confirmed in late 2026.
Since 2016, the annual maximum has risen in $500 increments based on adjustments tied to the Consumer Price Index (CPI), which measures annual inflation.
Cumulative TFSA limit
Your cumulative TFSA limit is more important than the annual maximum. If you have missed contributions in the past, your TFSA room carries forward, with the yearly maximum added to your past room.
If you were 18 years of age or older in 2009 and a resident in Canada all of those years, your cumulative TFSA room would be $109,000 as of January 1, 2026. That is: if you were born in 1991 or earlier, have been a resident in Canada since 2009, and have never contributed to a TFSA, you could have $109,000 of TFSA contribution room in 2026.
2025 TFSA withdrawals
TFSA withdrawals impact your TFSA room. If you took withdrawals last year, those withdrawals will be added to your TFSA limit for 2026 along with the annual maximum.
For example, if you withdrew $10,000 from your TFSA in 2025, you would have the $7,000 annual maximum plus another $10,000 of TFSA room, for a total of $17,000 of new TFSA room on January 1, 2026.
Confirming TFSA room with CRA
You can confirm your TFSA room with the Canada Revenue Agency (CRA) by calling them or logging into your CRA My Account online. Note, however, that the data tends to be outdated.
TFSA contributions and withdrawals from the previous year are reported to CRA the following year, but may not be reflected until the spring or later. As a result, CRA’s TFSA records during the first half of the year may be inaccurate. This often leads to people inadvertently over-contributing to their TFSAs.
What to do if you overcontribute
If you contribute to your TFSA beyond your limit, you may be subject to penalties and interest. The penalties are 1% of the overcontribution each month. For example, a $10,000 overcontribution would have a $100 monthly penalty, or $1,200 for a full 12-month period. Interest is also applied to the penalties, and a penalty equal to 100% of any income or gains resulting from a deliberate overcontribution.
Non-residents of Canada cannot contribute to their TFSAs while living abroad. So, non-resident TFSA contributions will also attract penalties and interest.
The CRA may send you an education letter about your TFSA overcontribution and waive penalties and interest, but you should not count on it.
The bottom line: TFSA overcontributions can be very costly, so try to avoid and correct them as soon as possible.
Compare the best TFSA rates in Canada
If you do over-contribute, you should file a TFSA Return (Form RC243) by June 30 of the next calendar year. The CRA may show leniency by waiving or canceling all or part of the penalty tax. There are three conditions they will consider:
- If the tax arose because of a reasonable error.
- The extent to which the transaction(s) that lead to the tax also lead to another tax under the Income Tax Act.
- The extent to which withdrawals have been made from the TFSA to correct the error.
If you disagree with a TFSA Notice of Assessment, you have 90 days to submit a Notice of Objection – Income Tax Act (Form T400A). This is a way to formally disagree with CRA’s assessment and request a second review.
What to do if… you have RRSP room
If you have a high taxable income and RRSP contribution room, you may want to consider an RRSP contribution. You can withdraw money from your TFSA and use it to make an RRSP contribution.
The most beneficial situation to consider this is if your income is relatively high now, and you expect it to be relatively low in retirement. Especially if you can commit the money to invest for the long-term.
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Jason Heath, CFP
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