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2/11: CBS Evening News

Lawmakers deadlocked as another government shutdown looms; Why you may get a smaller tax refund this year
Feb 12, 2019 (18:03)

TRANSCRIPT FOR: “2/11: CBS EVENING NEWS”

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00:14:40

DO NOT WORK AS PROMISED. ANNA WERNER HAS MORE .>> Reporter: IN A STATEMENT ANNOUNCING THE FOOD AND DRUG ADMINISTRATION'S ACTION, COMMISSIONER GOTTLIEB SAID 12 WARNING LETTERS AND FIVE ADVISORY LETTERS HAD BEEN SENT TO SUPPLEMENT COMPANIES WHOSE PRODUCTS THE AGENCY SAID " ARE BEING ILLEGALLY MARKETED AS UNAPPROVED NEW DRUGS BECAUSE THEY CLAIM TO PREVENT, TREAT, OR CURE ALZHEIMER'S DISEASE AS WELL AS HEALTH CONDITIONS LIKE DIABETES AND CANCER ." THE F. D. A. FOUND ONE COMPANY CLAIMED ITS PRODUCT HAD " PROVEN EFFECTIVENESS AGAINST NUMEROUS DEADLY VIRUSES ," AND ANOTHER HAD TOUTED " REDUCING SYMPTOMS OF COGNITIVE DECLINE ." IN THE 25 YEARS SINCE THE F. D. A. BEGAN REGULATING DIETARY SUPPLEMENTS, THEY'VE BECOME A $ 40 BILLION INDUSTRY. GOTTLIEB SAID IN AN ONLINE STATEMENT THAT HE'S " CONCERNED THAT CHANGES IN THE SUPPLEMENT MARKET MAY HAVE OUTPACED THE EVOLUTION OF OUR OWN POLICIES AND OUR CAPACITY TO MANAGE EMERGING RISKS ." THE TRADE GROUP THAT REPRESENTS SUPPLEMENT MANUFACTURERS TODAY APPLAUDED ANY EFFORT BY F. D. A. TO TAKE WHAT IT CALLS " BAD ACTORS" OUT OF THE MARKETPLACE. THE COUNCIL FOR RESPONSIBLE NUTRITION, STEVE MISTER .>> WHEN YOU HAVE COMPANIES WHO DON'T ABIDE BY THE QUALITY STANDARDS OR MAKE UNREASONABLE CLAIMS FOR THEIR PRODUCTS, IT HURTS CONSUMER CONFIDENCE FOR ALL OF THE LEGITIMATE PRODUCTS .>> Reporter: WHILE THAT INDUSTRY GROUP SAYS IT SUPPORTS ANY CRACKDOWN ON BAD ACTORS, ITS REP TOLD US THEY WON'T SUPPORT PROPOSALS FOR WHAT THEY CALL " UNWARRANTED REGULATORY BURDENS FOR THE INDUSTRY ," LIKE, JEFF, GOVERNMENT APPROVAL BEING REQUIRED BEFORE NEW PRODUCTS HIT THE MARKET .>> Glor: VERY INTERESTING, ANNA, THANK YOU. UP NEXT HERE TONIGHT, WHY YOUR TAX REFUND MAY BE SHRINKING THIS YEAR .>> Glor: IT IS TAX SEASON, AND WE ARE GETTING SOME NEW INFORMATION ON THE EFFECTS OF THE 2017 TAX OVERHAUL. THE I. R. S. SAYS THE AVERAGE REFUND IS DOWN ALMOST 8. 5 % SO FAR THIS YEAR. CBS NEWS BUSINESS ANALYST JILL SCHLESINGER IS HERE TO EXPLAIN WHY SOME ARE SEEING THESE SHRINKING REFUNDS. JILL, WHAT'S HAPPENING SO FAR ?>> Reporter: SO, IT'S JUST THE FIRST WEEK OF DATA. SO, LET'S NOT TAKE THIS TOO FAR. BUT WE ARE SEEING FEWER PEOPLE FILE EARLIER THIS YEAR THAN LAST YEAR. AND, AS YOU SAID, THOSE AVERAGE TAX REFUNDS ARE DOWN BY 8. 4 %.>> Glor: BUT WHY? BECAUSE PEOPLE HEAR " TAX CUTS" AND THEY THINK THEY'RE GOING TO GET MORE MONEY BACK HERE .>> Reporter: AND THAT'S UNDERSTANDABLE, BUT HERE'S THE ISSUE, ALTHOUGH TWO- THIRDS OF TAXPAYERS ARE LIKELY TO PAY FEWER DOLLARS IN TAXES THIS YEAR THAN THE YEAR BEFORE, MANY OF THEM HAVE ALREADY GOTTEN THOSE DOLLARS BECAUSE THEIR PAYCHECKS CHANGED BECAUSE OF THEIR WITHHOLDING. THEY MAY NOT HAVE REALIZED IT, BUT THOSE FEW EXTRA DOLLARS IN YOUR POCKET EVERY WEEK, THAT WENT TO YOUR BOTTOM LINE .>> Glor: ALREADY GOTTEN THE MONEY THERE. QUICKLY, WHAT CAN TAXPAYERS DO TO AVOID A REFUND SHOCK NEXT YEAR ?>> Reporter: ALL YOU NEED TO DO IS TALK TO YOUR EMPLOYER, CHANGE YOUR WITHHOLDING. IF YOU'RE SELF- EMPLOYED, BE SURE TO CHANGE THE WAY YOU'RE HANDLING YOUR QUARTERLY ESTIMATES. YOU DON'T HAVE TO HAVE A SURPRISE NEXT YEAR .>> Glor: JILL, THANK YOU VERY MUCH. >> Glor: THAT IS THE " CBS EVENING NEWS" FOR TONIGHT. I'M JEFF GLOR. WE'LL SEE YOU TOMORROW. HAVE A GOOD NIGHT.

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