Economy

Congress Skeptical of Trump’s Payroll Tax Cut as Bipartisan Talks Begin to Address Coronavirus
Economy
Congress Skeptical of Trump’s Payroll Tax Cut as Bipartisan Talks Begin to Address Coronavirus

WASHINGTON — One of President Donald Trump’s key proposals to confront the economic fallout of the novel coronavirus — a payroll tax cut — got mixed reviews from Senate Republicans on Tuesday during a Capitol Hill strategy-planning lunch that ended... Read More

Blue Dogs Support Stimulus Package While Stressing COVID-19 Threat Highlights Deficit Dangers
Congress
Blue Dogs Support Stimulus Package While Stressing COVID-19 Threat Highlights Deficit Dangers
2020-03-11 18:05:14
by Dan McCue

WASHINGTON - The Blue Dog Coalition of House Democrats are throwing their support behind a potential economic stimulus package aimed at helping Americans deal with the coronavirus outbreak. But in doing so, the coalition of fiscally-responsible Democrats said the crisis... Read More

Economy
As Recession Fears Mount, Eyes Turn to The American Consumer

WASHINGTON — As the White House, Congress and the Federal Reserve struggle to stem the growing financial and economic crisis, the likelihood of success may ultimately come down to one factor: the American consumer. What’s largely behind the mounting recession... Read More

Powell Says Federal Reserve Will Take Steps to Protect Economy During Virus Crisis
Economy
Powell Says Federal Reserve Will Take Steps to Protect Economy During Virus Crisis
2020-02-28 21:12:55
by Dan McCue

Fed Chairman Jerome Powell vowed Friday that the central bank will use its entire toolbox to support the economy in the face of worldwide fears over the coronavirus outbreak. "The fundamentals of the U.S. economy remain strong," Powell said. "However,... Read More

Economists See Growing Recession Risk as Coronavirus Spreads
Economy
Economists See Growing Recession Risk as Coronavirus Spreads

WASHINGTON — As the coronavirus outbreak enters a potentially dangerous new phase, with cases widening in Europe and expected to spread in the United States, economists have begun to raise their estimates for the risk of a global recession and... Read More

Trump Facing Growing Coronavirus Crisis Amid Market Jitters and Administration Chaos
Political News
Trump Facing Growing Coronavirus Crisis Amid Market Jitters and Administration Chaos

President Donald Trump vowed to take on coronavirus Wednesday even as a plunging stock market and chaos within his own administration laid bare a potential major global crisis that could threaten his reelection battle. Returning from a trip to India,... Read More

Industry Analysis Finds Trump’s War Restricts Solar Energy Job Growth
Employment
Industry Analysis Finds Trump’s War Restricts Solar Energy Job Growth
2020-02-19 19:21:02
by Dan McCue

President Donald Trump's tariff war with China significantly restricted the growth of the nation's solar energy workforce last year, an industry analysis shows. According to a report released Wednesday by The Solar Energy Foundation, a nonprofit, nonpartisan organization dedicated to... Read More

Fed Chair Tells House Panel Coronavirus Risk to US Economy Still Unknown
Federal Reserve
Fed Chair Tells House Panel Coronavirus Risk to US Economy Still Unknown
2020-02-12 14:18:45
by Dan McCue

WASHINGTON - Federal Reserve Chairman Jerome Powell told a House panel on Tuesday that while the U.S. economy continues to show steady growth, the broadening coronavirus outbreak “could lead to disruptions in China that spill over to the rest of... Read More

Decline in New Jobs Hints at Weakness in Otherwise Healthy Market
Employment
Decline in New Jobs Hints at Weakness in Otherwise Healthy Market
2020-02-11 21:55:04
by Dan McCue

WASHINGTON — Businesses across the U.S. cut back in the number of new job openings they advertised in December, the Labor Department reported Tuesday. The pullback, following a similar decline in November is seen by some economists as a sign... Read More

Pompeo Warns Governors to Be Wary of China's Economic Overtures
State News
Pompeo Warns Governors to Be Wary of China's Economic Overtures
2020-02-10 21:44:06
by Dan McCue

WASHINGTON -  Secretary of State Michael Pompeo delivered a stern warning about China in a speech to governors on Saturday, warning that Beijing is using economic promises as a wedge to exploit U.S. vulnerabilities. "The competition with China is not... Read More

White House Says China Guilty of 'Massive' Intellectual Property Theft, FBI Vows Crackdown
In The News
White House Says China Guilty of 'Massive' Intellectual Property Theft, FBI Vows Crackdown
2020-02-07 16:51:18
by Kate Michael

WASHINGTON - National Security Advisor Robert O’Brien told a gathering of world ambassadors this week that China has engaged in a "massive theft" of Intellectual property from the U.S., complicating diplomatic relations and making events like the recent trade dispute... Read More

Trump Signs USMCA, Declaring an End to 'the NAFTA Nightmare'
Trade
Trump Signs USMCA, Declaring an End to 'the NAFTA Nightmare'
2020-01-29 19:50:57
by Dan McCue

WASHINGTON - President Donald Trump signed the new North American trade deal into law on Wednesday, declaring an end to "the NAFTA nightmare" and the beginning of a "glorious future." During an outdoor signing ceremony at the White House, Trump... Read More

Rainy Days Ahead: States Boost Reserves, Anticipating Slowdown
State News
Rainy Days Ahead: States Boost Reserves, Anticipating Slowdown

As the longest economic expansion in American history continued last year, state governments increased salaries for teachers and other public employees, authorized new construction projects and — recognizing good times won’t last forever — added to reserve funds. Cash reserves... Read More

Budget Deficit Poised to Break $1 Trillion Despite Strong Economy
Federal Budget
Budget Deficit Poised to Break $1 Trillion Despite Strong Economy
2020-01-28 21:07:47
by Dan McCue

WASHINGTON - The federal budget deficit will likely top $1 trillion this year, despite the continued strength of the U.S. economy, the nonpartisan Congressional Budget Office said Tuesday. The report follows an increase in new spending last year and the... Read More

Davos Breakthrough: France, US Agree to Press Ahead With Global 'Digital Tax' Talks
Geopolitics
Davos Breakthrough: France, US Agree to Press Ahead With Global 'Digital Tax' Talks
2020-01-23 15:56:34
by Dan McCue

The United States and France agreed Thursday to proceed with talks that could result in a global rewrite of cross-border tax rules for the digital era. The agreement to temporarily set aside a brewing tariff war over France’s digital tax... Read More

IMF Sees Global Economy Stabilizing But Sluggish in Wake of US/China Trade War
Economy
IMF Sees Global Economy Stabilizing But Sluggish in Wake of US/China Trade War
2020-01-21 16:21:49
by Dan McCue

WASHINGTON - The International Monetary Fund has trimmed its forecast for global economic growth this year, saying that while some positive things have happened in recent weeks, including the completion of Phase I of a U.S.-China trade deal, the prospects... Read More

Trump Assails Climate 'Alarmists' in Davos, Touts US Economy as ' Roaring Geyser of Opportunity’
Economy
Trump Assails Climate 'Alarmists' in Davos, Touts US Economy as ' Roaring Geyser of Opportunity’
2020-01-21 16:11:35
by Dan McCue

President Donald Trump used his speech on the opening day of the World Economic Forum in Davos, Switzerland to ignore the "perennial prophets of doom" and to claim the U.S. economy has come "thundering back" under his watch. "This is... Read More

Impeachment Rules Encroach on Free Press
Media
Impeachment Rules Encroach on Free Press
2020-01-17 18:40:27
by Dan McCue

WASHINGTON - It has been a tough, some would say strange, few weeks for the press in Washington, D.C. Symbolically, it began with the shuttering of the Newseum, a museum dedicated to journalism and freedom of speech, which closed December... Read More

Senate Approves Revised USMCA Trade Deal by Huge Margin
Trade
Senate Approves Revised USMCA Trade Deal by Huge Margin
2020-01-17 17:02:20
by Dan McCue

WASHINGTON — The Senate handed President Donald Trump a policy victory on Thursday, backing USMCA, the new North American trade deal, the same day the chamber turned its attention to the president's impeachment trial. Once it's signed by Trump, USMCA... Read More

USMCA Bill Tough Vote for Democrats Over Lack of Environmental Protections
Trade
USMCA Bill Tough Vote for Democrats Over Lack of Environmental Protections

WASHINGTON — Sen. Jeff Merkley faced a difficult vote Tuesday as he joined colleagues on the Senate Environment and Public Works Committee to advance the bill that would implement President Donald Trump’s new trade deal. The Oregon Democrat said the... Read More

Debt in Developing Economies Growing at Fastest Pace in 50 Years
Foreign Affairs
Debt in Developing Economies Growing at Fastest Pace in 50 Years
2020-01-08 21:27:15
by Dan McCue

WASHINGTON - Debt in emerging and developing countries climbed to a record $55 trillion in 2018, the result of an eight-year surge that has been the largest and fastest in nearly 50 years, a study by the World Bank says.... Read More

USMCA Seen as Model for Easing Partisan War Over Trade
In The News
USMCA Seen as Model for Easing Partisan War Over Trade

WASHINGTON — President Donald Trump’s top trade negotiator and senior Democrats have declared that with House passage of a rewrite of Nafta, they’ve found a formula for Republicans and Democrats to forge trade deals despite Washington’s deep partisan divide. The... Read More

Restoration of Local Tax Breaks Illustrates Gottheimer’s Commitment to Working Families
Congress
Restoration of Local Tax Breaks Illustrates Gottheimer’s Commitment to Working Families
2019-12-20 18:27:13
by Dan McCue

WASHINGTON - House Democrats voted to lift a $10,000 limit on state and local tax deductions, known as SALT, repealing a deduction limit Republicans had imposed as part of their 2017 tax code overhaul. The bill, H.R.5377 , which was... Read More

Revised North American Trade Deal Overwhelmingly Passes House
Trade
Revised North American Trade Deal Overwhelmingly Passes House
2019-12-20 14:41:04
by Dan McCue

WASHINGTON - In a strong show of bipartisan cooperation just hours after they were at each other's throats over the impeachment of President Donald Trump, Democrats and Republicans threw their support behind a new trade agreement with Canada and Mexico.... Read More

No Date Set for U.S.-China ‘Phase Two’ Talks, Lighthizer Says
Trade
No Date Set for U.S.-China ‘Phase Two’ Talks, Lighthizer Says

WASHINGTON — No date has been set so far for the U.S. and China to kick off “phase two” trade talks, said U.S. Trade Representative Robert Lighthizer, contradicting a suggestion by President Donald Trump that negotiations would start right away.... Read More

Congress Considers Reviving Tax Breaks Prized by ADM, Tesla, GM
In The News
Congress Considers Reviving Tax Breaks Prized by ADM, Tesla, GM

WASHINGTON — U.S. lawmakers led by Senate Finance Committee Chairman Charles Grassley are negotiating a potential revival of expired tax breaks in last-minute negotiations over a government spending bill. The talks, which were held on Saturday, are focused on reinstating... Read More

Brindisi Secures Key Victory for Upstate New York in Defense Bill
Employment
Brindisi Secures Key Victory for Upstate New York in Defense Bill
2019-12-13 15:04:02
by Dan McCue

WASHINGTON - The House passage of the National Defense Authorization Act means many things to many people, but to the residents of one region in Upstate New York, the massive spending bill means one thing: good-paying jobs for the foreseeable... Read More

Democrats, White House Reach Deal on New North American Trade Agreement
Trade
Democrats, White House Reach Deal on New North American Trade Agreement
2019-12-10 22:51:49
by Dan McCue

WASHINGTON — Long after some thought an agreement between the House and the Trump administration on a new North American trade pact would require a miracle, a deal was finally announced on the same day the House unveiled impeachment charges... Read More

Ex-Fed Chair Paul Volcker, Tamer of Double-Digit Inflation, Dies
In The News
Ex-Fed Chair Paul Volcker, Tamer of Double-Digit Inflation, Dies
2019-12-09 22:23:59
by Dan McCue

WASHINGTON - Paul Volcker, the Federal Reserve chairman who in the early 1980s pushed interest rates to historic highs to rein in runaway double-digit inflation and set the economy on a course to renewed growth, died on Monday. He was... Read More

Survey: Recession Odds Diminishing for U.S. Economy, But Watch for a Slowdown
Economy
Survey: Recession Odds Diminishing for U.S. Economy, But Watch for a Slowdown

The nation’s top economists say a recession within the next year isn’t probable, but that doesn’t mean the U.S. economy will be worth bragging about. Experts polled for Bankrate’s Fourth-Quarter Economic Indicator survey estimate a 35 percent chance that the... Read More

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