NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Thursday, April 11.
Postal Service backs off plan to stop Saturday delivery
The U.S. Postal Service has backed down from its plan to stop Saturday mail delivery. The agency's board said Wednesday that mail will continue to be delivered six days a week. In February, the Postal Service announced that starting in August it would stop delivering mail on Saturdays, except for packages and express mail. The board said it decided to stay the course because of a Congressional mandate for Saturday delivery that had been on the books since the 1980s.
Obama calls for cigarette tax hike of 94 cents a pack
President's Obama's call for a 94-cent-a-pack hike on federal cigarette taxes to fund early childhood education programs is controversial. Anti-smoking groups applaud the proposal, but some tax experts and tobacco companies are against it. The case for the tax. The tax is being presented as way to fund education and reduce smoking rates. It would raise roughly $78 billion over 10 years. "The proposed tobacco tax increase would have substantial public health benefits, particularly for young Americans," the president's budget read.
Seniors would see smaller Social Security checks under Obama budget
Senior citizens would see their Social Security checks shrink under President Obama's latest budget proposal. The budget plan, released Wednesday, calls for changing the way the annual cost of living adjustments for Social Security and other federal programs are calculated. Shifting to "chained CPI" from the current inflation measure could reduce the federal debt by $230 billion, but it would also mean that seniors would get smaller increases in their Social Security payments each year.
Taco Bell promises better nutrition - by 2020
Taco Bell - long-known as a place to load up on low-price, high-calorie and high-sodium grub - wants to fix the high-calorie and high-sodium part. By 2020, that is. The nation's largest Mexican fast-food chain on Wednesday announced new nutritional plans to have 20% of its combo meals (a main item, a side dish and a beverage) meet one-third of the federal government's recommended dietary guidelines by 2020. One-third was chosen because the guidelines are based on an average three meals consumed daily.