Economy

GAO: Virus Relief Program Has Inadequate Safeguards; $1.4B in Relief Payments Sent to Dead People
In The News
GAO: Virus Relief Program Has Inadequate Safeguards; $1.4B in Relief Payments Sent to Dead People
2020-06-26 13:57:41
by Dan McCue

WASHINGTON - Confronted with an extraordinary public health crisis, the federal government moved with uncommon agility to bolster the economy and quickly establish services for those infected with the virus, the nonpartisan Government Accountability Office said Thursday. But in doing... Read More

Bipartisan Effort to Expand Employee Retention Tax Credit Gains Coalition Endorsement
Economy
Bipartisan Effort to Expand Employee Retention Tax Credit Gains Coalition Endorsement
2020-06-23 18:48:31
by Reece Nations

WASHINGTON — A bipartisan effort to expand the employee retention tax credit has gained a significant endorsement from a coalition representing 130 small businesses and key industry organizations.  The bill, entitled the “Jumpstarting Our 5 Businesses’ Success Credit Act”, or... Read More

Economists and Educators Make Plea for Bigger COVID-19 Relief Bailout
Education
Economists and Educators Make Plea for Bigger COVID-19 Relief Bailout
2020-06-23 18:38:03
by Tom Ramstack

WASHINGTON - Economists and educators asked a congressional committee Monday for a federal bailout to help ethnic minorities who they say are hit unequally hard by the COVID-19 pandemic. They agreed widely that African Americans and Latinos are losing their... Read More

South Carolina Beaches Fill, But COVID-19 Takes No Vacation
Tourism
South Carolina Beaches Fill, But COVID-19 Takes No Vacation

MYRTLE BEACH, S.C. (AP) — The elevator doors opened and inside were 10 people crammed into a space no bigger than a closet, none of them wearing a mask. In bathing suits, they walked out of the hotel, across the... Read More

Trillions in Stimulus Go Unchecked With Watchdogs Kept Toothless
Congress
Trillions in Stimulus Go Unchecked With Watchdogs Kept Toothless

The U.S. has spent more than half of $3 trillion in economic rescue funds passed by Congress — with little of the oversight intended to ensure the money goes to the right places. Three new oversight bodies are barely functional:... Read More

Local Coronavirus Infection Spikes Muddle States’ Plans to Reopen
State News
Local Coronavirus Infection Spikes Muddle States’ Plans to Reopen
2020-06-18 13:46:30
by Reece Nations

As nationwide coronavirus deaths continue to trend downward, a surge of new cases across a multitude of states is complicating plans to lift stay-at-home orders and reopen economies.  Updated data from the Johns Hopkins University tracker indicates 10 states are... Read More

White House Considers Tourism Tax Break for Americans Wary of Vacations in Pandemic
Economy
White House Considers Tourism Tax Break for Americans Wary of Vacations in Pandemic

WASHINGTON — A proposal to boost tourism by providing tax breaks for Americans who travel inside the United States is being “actively” considered by the White House for inclusion in the next coronavirus stimulus package. Three White House officials told... Read More

Retail Sales Rebound As States Reopen After COVID-19 Lockdowns
Economy
Retail Sales Rebound As States Reopen After COVID-19 Lockdowns
2020-06-16 14:30:18
by Dan McCue

WASHINGTON - Retail sales rebounded across the country in May as a growing number of states allowed stores and restaurants to reopen and consumers were finally allowed to venture out and spend federal stimulus checks and tax refunds. According to... Read More

Fed’s Powell to Bring Sober Message to Capitol Hill This Week
Economy
Fed’s Powell to Bring Sober Message to Capitol Hill This Week

WASHINGTON — Federal Reserve Chairman Jerome Powell will deliver a cautionary message about the U.S. economy and COVID-19 when he appears twice this week on Capitol Hill. His remarks to lawmakers are widely expected to echo the mostly downbeat assessment... Read More

Kudlow Says Extra Jobless Payments Will End as Planned in July
Economy
Kudlow Says Extra Jobless Payments Will End as Planned in July

The $600-a-week bonus payments made to some Americans laid off during the coronavirus pandemic will end as planned in July, said White House economic director Larry Kudlow. Congress in March approved the extra money on top of state unemployment payments... Read More

Joe Biden Introduces Plan to Restart Economy
2020 Elections
Joe Biden Introduces Plan to Restart Economy

PHILADELPHIA — Joe Biden stopped at the Enterprise Center in West Philadelphia Thursday to debut an eight-part plan for reopening the country safely. “Trump has had a one-point plan — open business. Just open them,” Biden said. “It does nothing... Read More

Americans Say They Struggle to Get Information They Can Trust During Pandemic
Opinion Polls
Americans Say They Struggle to Get Information They Can Trust During Pandemic
2020-06-11 15:20:32
by Sara Wilkerson

Since the onset of the coronavirus pandemic in February, Americans have struggled to find information they believe they can trust on the rate of infection, the death rate and what they should be doing to protect themselves, a new Gallup/Knight... Read More

Majority of Americans Cautious Concerning Return to Normalcy
Opinion Polls
Majority of Americans Cautious Concerning Return to Normalcy
2020-06-11 15:05:53
by Reece Nations

WASHINGTON – As state governors continue to roll back restrictions on gatherings and business brought on by the COVID-19 pandemic, a new Gallup survey indicates at least two-thirds of Americans want to meet specific conditions before they are willing to... Read More

Trump’s 2020 Path Gets Trickier With Tag as ‘Recession’ President
2020 Elections
Trump’s 2020 Path Gets Trickier With Tag as ‘Recession’ President

President Donald Trump faces a new obstacle to his case for reelection: The U.S. is now officially in recession. The “recession” label made official Monday cements the pain many voters are already feeling from the economy — and will feed... Read More

Senate Told That Fraudsters Prey on Pandemic Victims
In The News
Senate Told That Fraudsters Prey on Pandemic Victims
2020-06-10 17:47:03
by Tom Ramstack

WASHINGTON - Federal law enforcement officials pledged a vigorous crackdown Tuesday during a Senate hearing on fraudsters who are trying to make easy money off vulnerable people during the coronavirus pandemic. They accused con artists of selling fake vaccines and... Read More

CBO Says Pandemic Shaved $3.9 Trillion Off US Economy, Slow Down Will Linger
Economy
CBO Says Pandemic Shaved $3.9 Trillion Off US Economy, Slow Down Will Linger
2020-06-09 21:11:39
by Dan McCue

WASHINGTON - The coronavirus pandemic shaved roughly $3.9 trillion from the U.S. economy and will likely prevent the nation's quarterly growth rate from climbing above zero percent through the end of 2021, the nonpartisan Congressional Budget Office said Tuesday. The... Read More

US Officially Entered ‘Unprecedented’ Recession in February
Economy
US Officially Entered ‘Unprecedented’ Recession in February

The U.S. entered an “unprecedented” recession in February as job growth and production began grinding to a halt because of the coronavirus pandemic, a trade group said Monday, ending the country’s longest economic boom on record. The National Bureau of... Read More

Local Governments Tested by Challenges on Multiple Fronts
Cities
Local Governments Tested by Challenges on Multiple Fronts
2020-06-08 13:32:41
by Kate Michael

WASHINGTON - The year 2020 will no doubt be remembered as the year when crisis and turmoil took center stage not just in the U.S., but around the world. From a global pandemic, to upheavals in the economy to social... Read More

Dems Urge Congress To Create “Robust” Recovery Plan For Clean Energy
Health
Dems Urge Congress To Create “Robust” Recovery Plan For Clean Energy
2020-06-05 14:44:20
by Gaspard Le Dem

WASHINGTON - A group of lawmakers in the House and Senate urged congressional leaders on Wednesday to support the clean energy sector in future coronavirus stimulus legislation. In a letter signed by 57 members -- all Democrats or independents --... Read More

Unemployment Rate Falls to 13.3%, Economy Adds 2.5 Million Jobs in May
Employment
Unemployment Rate Falls to 13.3%, Economy Adds 2.5 Million Jobs in May
2020-06-05 13:56:58
by Dan McCue

WASHINGTON - U.S. employers added 2.5 million jobs in May as businesses began to reopen following months of closures ordered at the outset of the coronavirus pandemic. The uptick in hiring dropped the unemployment rate to 13.3%, the Labor Department... Read More

Tester, IAVA Detail Economic and Emotional Toll Coronavirus Taking On U.S. Veterans
Veterans
Tester, IAVA Detail Economic and Emotional Toll Coronavirus Taking On U.S. Veterans
2020-06-04 21:14:05
by Gaspard Le Dem

As the U.S. struggles to fight off a lingering coronavirus pandemic, the full impact of the crisis on the lives of Americans is just starting to come into view. But for the veteran community -- as for many other groups... Read More

New Poll Finds More Than 1-in-3 Willing to Sue Employer Over COVID-19
Opinion Polls
New Poll Finds More Than 1-in-3 Willing to Sue Employer Over COVID-19
2020-06-02 18:50:54
by Dan McCue

WASHINGTON - A new survey has found that 36% of American workers would sue their employers if one of their co-workers contracted COVID-19 upon their return to work, and soon after contracted it themselves. Additionally, the latest "Back-to-Normal Barometer" survey... Read More

Restaurant Rich Charleston Offers Clues to Post-Pandemic Future of Industry
Business
Restaurant Rich Charleston Offers Clues to Post-Pandemic Future of Industry
2020-06-01 18:23:49
by Dan McCue

CHARLESTON, S.C. - It wasn't exactly a typical Friday night in what could arguably be described as the "foodie district" of Charleston, South Carolina. But it was something of a barometer of how restaurants are fighting to come back from... Read More

GM to Recall Most of its Hourly Workers
Employment
GM to Recall Most of its Hourly Workers

DETROIT — General Motors will have brought back most of its 48,000 hourly workforce in the United States starting next week. GM will resume production at its full-sized SUV plant as well as the plant that makes its Cadillac compact... Read More

Maritime Industry Asks Congress for Bailout During Coronavirus
Trade
Maritime Industry Asks Congress for Bailout During Coronavirus
2020-06-01 12:08:15
by Tom Ramstack

WASHINGTON - Representatives of the U.S. maritime industry asked Congress for an emergency bailout Friday as they described how coronavirus is hurting ports and shippers. They are expecting their revenue to drop by as much as one-quarter below normal levels... Read More

House Overwhelmingly Endorses Greater Flexibility for Small Business Aid Program
Congress
House Overwhelmingly Endorses Greater Flexibility for Small Business Aid Program
2020-05-28 20:17:28
by Dan McCue

WASHINGTON - In an overwhelmingly bipartisan fashion, the House on Thursday passed legislation providing struggling small businesses with greater flexibility in using coronavirus relief loans. The bill, which amends the Paycheck Protection Program enacted in March, passed by a vote... Read More

Congress Seeks to Help Minorities Hit Hardest by Coronavirus
Health
Congress Seeks to Help Minorities Hit Hardest by Coronavirus
2020-05-28 12:49:20
by Tom Ramstack

WASHINGTON - Medical and social welfare witnesses told a congressional committee Wednesday that ethnic minorities need an increased effort to protect them from the devastation of coronavirus. They are dying or losing their jobs in some locations at almost twice... Read More

State of Small Business Report Outlines the Struggle for Survival and Reopening
Economy
State of Small Business Report Outlines the Struggle for Survival and Reopening
2020-05-27 19:21:32
by Kate Michael

WASHINGTON - The economy is in crisis, but not everyone is feeling it the same way. One of the hardest-hit sectors is America’s small businesses. Over 99% of the nation’s 28.7 million firms are small and medium-sized businesses which contribute... Read More

District of Columbia to Lift Stay-At-Home Order Friday
Economy
District of Columbia to Lift Stay-At-Home Order Friday
2020-05-27 19:00:56
by Dan McCue

WASHINGTON - District of Columbia Mayor Muriel Bowser said Wednesday the city will lift its stay-at-home order on Friday and begin phase one of its reopening process. The details of Bowser's announcement are available here. The mayor said though new... Read More

Federal Workers See Risks to Them in Trump Push to Reopen US
Employment
Federal Workers See Risks to Them in Trump Push to Reopen US

As Donald Trump presses states to reopen, government workers and their unions say they’re increasingly concerned that their bosses will force them back to the office without sufficient protection. Agencies’ approaches to returning to offices have been uneven, they say.... Read More

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