Economy

Mass Layoffs Hit the Economy. Can the Stimulus Plan Stem the Tide?
Economy
Mass Layoffs Hit the Economy. Can the Stimulus Plan Stem the Tide?

WASHINGTON — Even in the darkest hours of 2008, when the nation teetered on the edge of a second Great Depression, Congress never passed anything close to the economic stimulus plan scheduled for final approval Friday. The Senate’s roughly $2-trillion... Read More

Unemployment Claims Surge to Historic High As Pandemic Slams Economy
Economy
Unemployment Claims Surge to Historic High As Pandemic Slams Economy
2020-03-26 15:42:57
by Dan McCue

WASHINGTON - U.S. unemployment claims reached a historic high of 3.28 million last week due to a wave of layoffs and business closures stemming from the coronavirus outbreak, the Labor Department reported Thursday. The figure shattered the previous record of... Read More

Senate Unanimously Passes Massive Coronavirus Aid Plan
Political News
Senate Unanimously Passes Massive Coronavirus Aid Plan

WASHINGTON (AP) — The Senate passed an unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic. The unanimous vote Wednesday came despite misgivings on both sides about whether it goes too far... Read More

Trump Wants Country ‘Opened Up,’ Prompting Blowback from Governors
Economy
Trump Wants Country ‘Opened Up,’ Prompting Blowback from Governors

WASHINGTON — President Donald Trump and some of the nation’s most prominent governors plunged into heated debate Tuesday over how much death they’re willing to risk in order to get the economy running again during the coronavirus pandemic. Public health... Read More

White House, Congress Agree on $2 Trillion Virus Rescue Bill
Political News
White House, Congress Agree on $2 Trillion Virus Rescue Bill

WASHINGTON (AP) — The White House and Senate leaders of both major political parties announced agreement early Wednesday on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic. The urgently... Read More

Deal Reached on $2 Trillion Coronavirus Stimulus Bill — Largest by far in US History
Congress
Deal Reached on $2 Trillion Coronavirus Stimulus Bill — Largest by far in US History

WASHINGTON — After haggling for days over the final details, Senate Democrats and the White House agreed Tuesday to a nearly $2 trillion stimulus package to combat the economic fallout of the coronavirus outbreak, including direct payments to most Americans... Read More

Senate Partisanship Boils Over as Stimulus Talks Stall
Political News
Senate Partisanship Boils Over as Stimulus Talks Stall

WASHINGTON — Senate Republicans and Democrats grew visibly angry and emotional on the Senate floor Monday as negotiations over a financial rescue package appeared to stall, even as Senate Minority Leader Charles E. Schumer, D-N.Y., said he and Treasury Secretary... Read More

Frustrated by Economic Damage, Trump Says He May Ease Restrictions
Political News
Frustrated by Economic Damage, Trump Says He May Ease Restrictions

WASHINGTON — President Donald Trump, desperate to turn around the cratering economy, indicated Monday that he is likely to ease within weeks extreme restrictions on commerce that were intended to stem the deadly coronavirus pandemic, resisting advice from public health... Read More

Fed Unleashes Unprecedented Measures to Shore Up Reeling Economy
Economy
Fed Unleashes Unprecedented Measures to Shore Up Reeling Economy

The Federal Reserve, racing again to contain mounting economic and financial-market fallout from the coronavirus, unveiled a sweeping series of measures that pushed the 106-year old central bank deeper into uncharted territory. In a surprise announcement Monday before markets opened... Read More

FCC Expands Telecoms' Spectrum Access to Bolster Wireless Capacity During Pandemic
Telecom
FCC Expands Telecoms' Spectrum Access to Bolster Wireless Capacity During Pandemic
2020-03-24 13:00:32
by Dan McCue

WASHINGTON - The Federal Communications Commission's Wireless Telecommunications Bureau has granted requests from AT&T and Verizon to use additional spectrum to help meet escalating wireless demand during the coronavirus outbreak. AT&T has been granted authority to operate in the AWS-4... Read More

DC, Virginia, Maryland Shutter Schools, Close 'Nonessential' Businesses
State News
DC, Virginia, Maryland Shutter Schools, Close 'Nonessential' Businesses
2020-03-24 12:54:42
by Dan McCue

WASHINGTON -- All K-12 schools in Virginia will remain closed "at least" for the remainder of the current academic year, and all restaurants must end dine-in service, Gov. Ralph Northam announced Monday. Northam announced the new measures as the number... Read More

McMaster Latest Governor to Allow 'To-Go' Liquor Sales
State News
McMaster Latest Governor to Allow 'To-Go' Liquor Sales
2020-03-23 17:10:26
by Dan McCue

South Carolina Gov. Henry McMaster on Saturday directed the state's Department of Revenue to waive regulations and allow restaurants to include sealed containers of beer and wine for curbside pickup or to-go orders. The move came just days after McMaster... Read More

First Post-USMCA Challenge: COVID-19 Border Closures
Trade
First Post-USMCA Challenge: COVID-19 Border Closures
2020-03-20 16:50:32
by Dan McCue

WASHINGTON - The Canada-U.S. border will close to all non-essential travel in both directions Friday night, and officials are set to impose similar restrictions at the U.S. border with Mexico later today. It was only two months ago President Donald... Read More

Coronavirus Stimulus Plan Could Deliver $3K to Family of Four
Economy
Coronavirus Stimulus Plan Could Deliver $3K to Family of Four

The emerging $1 trillion aid package intended to help weather the COVID-19 economic storm appears likely to deliver $1,000 to every U.S. adult, plus $500 per child, according to Treasury Secretary Mnuchin and a GOP senator involved in the drafting.... Read More

White House, Senators to Negotiate $1T Economic Rescue Deal
Economy
White House, Senators to Negotiate $1T Economic Rescue Deal

WASHINGTON (AP) — Members of President Donald Trump's economic team convene Friday on Capitol Hill to launch negotiations with Senate Republicans and Democrats racing to draft a $1 trillion-plus economic rescue package amid the coronavirus outbreak. It's the biggest effort yet... Read More

Hoyer Says Jump in Unemployment Claims Is a Further Call to Action in Virus Fight
Economy
Hoyer Says Jump in Unemployment Claims Is a Further Call to Action in Virus Fight
2020-03-19 20:49:14
by Dan McCue

WASHINGTON - The number of Americans filing new claims for unemployment benefits surged to its highest level in more than two years last week, causing House Majority Leader Steny Hoyer to vow the government will do "everything necessary" to help... Read More

O'Halleran, A Warrior for Job Creation, Seeks Solar Energy Training for Veterans
Employment
O'Halleran, A Warrior for Job Creation, Seeks Solar Energy Training for Veterans
2020-03-19 15:02:34
by Dan McCue

WASHINGTON - Rep. Tom O'Halleran, D-Ariz., is no stranger to fighting to create jobs and a stronger economy for all Americans. His latest effort in this area is co-sponsoring bipartisan legislation to foster workforce training for transitioning military personnel in... Read More

Sherrill Fights for Local Families by Rolling Back Tax Deduction Caps
Economy
Sherrill Fights for Local Families by Rolling Back Tax Deduction Caps
2020-03-19 14:59:19
by Dan McCue

WASHINGTON - Rep. Mikie Sherrill, D-N.J., knew it would be a crippling blow to her constituents and the local economy. It had been bad enough when the Republican Tax Cut and Jobs Act enacted in 2017 capped the deduction middle... Read More

Rice Leads Bipartisan Effort to Address Shortage of Support Professionals
Employment
Rice Leads Bipartisan Effort to Address Shortage of Support Professionals
2020-03-19 14:56:33
by Dan McCue

WASHINGTON - Rep. Kathleen Rice, D-N.Y., is one of the leaders in a bipartisan effort to address an oft-overlooked area of jobs development -- the dramatic shortage of support professionals to work with the disabled. Rice, along with Reps. Peter... Read More

Murphy, Cunningham Urge Leadership to Suspend Tariffs During Coronavirus Crisis
Economy
Murphy, Cunningham Urge Leadership to Suspend Tariffs During Coronavirus Crisis
2020-03-19 14:48:30
by Dan McCue

WASHINGTON - Reps. Stephanie Murphy, D-Fla., and Joe Cunningham, D-S.C., have written a letter to the Congressional leadership, urging them to temporarily suspend tariffs imposed by the White House as part of Congress’ upcoming coronavirus response bill. Both Murphy, a... Read More

Kudlow Says Government Could Take Equity Stakes in Companies That Want Aid
Business
Kudlow Says Government Could Take Equity Stakes in Companies That Want Aid

WASHINGTON — The White House’s top economic adviser, Larry Kudlow, said the administration may consider asking for an equity stake in corporations that want coronavirus aid from taxpayers. “One of the ideas is, if we provide assistance, we might take... Read More

White House Seeks $1 Trillion Economic Stimulus, Including Payouts to Americans
Economy
White House Seeks $1 Trillion Economic Stimulus, Including Payouts to Americans

WASHINGTON — The Trump administration on Tuesday proposed a $1 trillion economic stimulus package to counter the effects of the coronavirus, including relief for small businesses and the airline industry, and sizable checks for Americans in the next two weeks.... Read More

Recession is Coming; the Only Questions Now Are How Soon and How Deep?
Economy
Recession is Coming; the Only Questions Now Are How Soon and How Deep?

WASHINGTON — When the world’s largest economy begins to shut down — closing schools, sports arenas and entire categories of businesses, and sending millions of American workers home — it’s no longer a question of whether a recession may be... Read More

Congress Begins Work on Third Economic Stimulus Bill for The Coronavirus Crisis
Economy
Congress Begins Work on Third Economic Stimulus Bill for The Coronavirus Crisis

WASHINGTON — Lawmakers began negotiating a third economic stimulus bill to prevent the U.S. economy from cracking under the weight of the coronavirus epidemic even as efforts stalled Monday to finish work on a second bill that passed the House... Read More

US Airlines Seeking Nearly $60 Billion to Sustain Industry During Virus Outbreak
Business
US Airlines Seeking Nearly $60 Billion to Sustain Industry During Virus Outbreak
2020-03-16 21:56:18
by Dan McCue

WASHINGTON - U.S. Airlines are asking for close to $60 billion in government assistance to help them deal with industry travails associated with the ongoing coronavirus outbreak. Airlines for America, the trade association that represents Delta, United, American and Southwest,... Read More

Fauci Says Americans Must Be Prepared to Hunker Down More
Health
Fauci Says Americans Must Be Prepared to Hunker Down More

WASHINGTON — Americans must be ready for more drastic steps to slow the march of the coronavirus pandemic in the U.S., Dr. Anthony Fauci said Sunday. “Americans should be prepared that they are going to have to hunker down significantly... Read More

Fed Takes Emergency Steps to Slash Rates and Ease Bank Rules
Federal Reserve
Fed Takes Emergency Steps to Slash Rates and Ease Bank Rules

WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage... Read More

House Strikes Deal With White House, Passes Sweeping Coronavirus Relief Package
Economy
House Strikes Deal With White House, Passes Sweeping Coronavirus Relief Package
2020-03-16 13:15:06
by Dan McCue

WASHINGTON - The House passed an emergency spending package in overwhelmingly bipartisan fashion Saturday morning, just hours after reaching an agreement with the White House on the next steps in addressing the unfolding coronavirus outbreak. The vote on the 110-page... Read More

Trump’s Stock Market Now Worst Since Double-Recession George W. Bush
Wall Street
Trump’s Stock Market Now Worst Since Double-Recession George W. Bush

WASHINGTON — The return on stocks since Donald Trump’s presidential election win in 2016 has slumped to 24% thanks to the historic rout the past three weeks, undercutting what had been a better-than-average gain for American leaders over the past... Read More

Coronavirus Response Puts Administration Weaknesses Under Spotlight
Political News
Coronavirus Response Puts Administration Weaknesses Under Spotlight

WASHINGTON — President Donald Trump’s inattention to detail, distaste for experts, need for validation and belief that he can create his own set of alternative facts have been hallmarks of his political rise. But after three years in which daily... Read More

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