Economy

Income Inequality Continues to Grow Despite Bump in Median Income
Economy
Income Inequality Continues to Grow Despite Bump in Median Income
2019-09-27 20:46:25
by Dan McCue

WASHINGTON - The gap between those who are well-off in the United States and those who aren't is now the largest it's been in the past 50 years - this despite the median U.S. income setting a new record high,... Read More

McHenry, Maloney Introduce Bipartisan Financial Transparency Act
Finance
McHenry, Maloney Introduce Bipartisan Financial Transparency Act
2019-09-27 20:41:31
by Dan McCue

WASHINGTON - Reps. Patrick McHenry, R-N.C., and Carolyn Maloney, D-N.Y., have introduced legislation to make financial data more easily available online and less opaque. McHenry, ranking Republican of the House Financial Services Committee, said with technology playing such a large... Read More

Women-Owned Businesses Growing 2X Faster Than All Businesses Nationwide
Economy
Women-Owned Businesses Growing 2X Faster Than All Businesses Nationwide
2019-09-24 20:35:40
by Dan McCue

WASHINGTON - Women-owned businesses continue to fuel the economy and now represent 42% of all businesses — nearly 13 million — employing 9.4 million workers and generating revenue of $1.9 trillion, according to a new report commissioned by American Express.... Read More

GM Strike May Stretch Out Awaiting UAW Workers’ Vote On Tentative Deal
Employment
GM Strike May Stretch Out Awaiting UAW Workers’ Vote On Tentative Deal

DETROIT — The UAW is considering staying on strike against General Motors until rank-and-file members approve a tentative agreement, a process that could add more than a week to the length of the work stoppage, the Free Press has learned.... Read More

Majority of CFOs See US Sliding Into Recession Before 2020 Election
Economy
Majority of CFOs See US Sliding Into Recession Before 2020 Election
2019-09-19 12:46:24
by Dan McCue

WASHINGTON - A majority of chief financial officers surveyed by Duke University believe the United States will be in an economic recession by the 2020 Election, despite continuing low unemployment. Fifty-three percent of the 225 CFOs participating in the latest... Read More

Wall Street May Get $40 billion Reprieve From Trump Regulators
Economy
Wall Street May Get $40 billion Reprieve From Trump Regulators

WASHINGTON — Wall Street could soon get one of its most consequential wins of the Trump era as regulators are considering ripping up a rule that’s forced banks to set aside billions of dollars for swaps trades, according to people... Read More

Saudi Attacks Reveal Oil Supply Fragility in Asymmetric War
Geopolitics
Saudi Attacks Reveal Oil Supply Fragility in Asymmetric War

DUBAI, United Arab Emirates — The latest and most destructive attacks on Saudi oil facilities provide stark evidence of the vulnerability of global crude supply in an age of disruptive technologies that can bring a century-old industry to its knees... Read More

46,000 UAW Workers Strike At GM Plants Nationwide
Economy
46,000 UAW Workers Strike At GM Plants Nationwide

DETROIT — Members of the United Auto Workers went on strike at General Motors Co. plants nationwide at midnight Sunday night, sending 46,000 workers to picket lines in the union’s first walkout since the automaker emerged from taxpayer-funded bankruptcy a... Read More

White House Repeals Obama-Era Clean Water Rule
Environment
White House Repeals Obama-Era Clean Water Rule
2019-09-13 19:51:40
by Dan McCue

WASHINGTON — The Trump administration announced Thursday that it is repealing an  Obama-era clean water rule that had placed limits on polluting chemicals that could be used near streams, wetlands and other bodies of water. According to the Environmental Protection... Read More

House Panel Told Broadband Policies Should Not Worsen Urban/Rural Divide
Technology
House Panel Told Broadband Policies Should Not Worsen Urban/Rural Divide
2019-09-11 23:48:11
by Dan McCue

WASHINGTON - A far-reaching broadband connectivity should not be dictated by the location of a home or business, but rather should foster economic growth and sustainable communities by being equally accessible by all. That was the overarching message delivered to... Read More

House Votes to Ban Offshore Drilling, Throwing Down Gauntlet for Trump, GOP
Environment
House Votes to Ban Offshore Drilling, Throwing Down Gauntlet for Trump, GOP
2019-09-11 23:43:20
by Dan McCue

WASHINGTON - Rep. Francis Rooney, R-Fla., couldn't be happier that the House Wednesday passed a pair of bills blocking offshore oil drilling in almost all waters around the United States. But in an interview with The Well News, he acknowledged... Read More

Moderates Seen As Key to Ratifying U.S.-Mexico-Canada Trade Deal
Trade
Moderates Seen As Key to Ratifying U.S.-Mexico-Canada Trade Deal
2019-09-06 21:13:11
by Dan McCue

WASHINGTON - As Congress adjourned for its August recess, the U.S.-Mexico-Canada trade deal, known as the USMCA, seemed to be the last thing on anyone's mind. At the time, an impending fiscal crisis had just been averted, and lawmakers, media... Read More

House to Vote on Banning Offshore Drilling in Almost All US Waters
Environment
House to Vote on Banning Offshore Drilling in Almost All US Waters
2019-09-06 21:08:34
by Dan McCue

WASHINGTON - The House will vote next week on a trio of bills that would effectively block all new offshore oil and gas drilling in the waters around the United States. In a letter to House members, Democratic House Leader... Read More

Poll: Trump Increasingly Blamed By Voters for Declining Economy
Opinion Polls
Poll: Trump Increasingly Blamed By Voters for Declining Economy

WASHINGTON — For the first time since President Donald Trump was elected, more Americans say the economy is getting worse than getting better. A new Quinnipiac Poll shows 37% saying the economy is declining, compared with 31% who continue to... Read More

Recession Fears Are Valid, But Predicting Timing Nearly Impossible, Economist Says
Economy
Recession Fears Are Valid, But Predicting Timing Nearly Impossible, Economist Says
2019-08-23 19:01:20
by HJ Mai

There are plenty of warning signs that the longest economic expansion in the history of the United States is coming to an end. While the signs indicate an impending recession, predicting the time of it is nearly impossible, Hoyt Bleakley,... Read More

China Hits US With New Tariffs on $75 Billion Worth of Products
Economy
China Hits US With New Tariffs on $75 Billion Worth of Products
2019-08-23 17:16:20
by Dan McCue

WASHINGTON — China on Friday announced tariff hikes on $75 billion of U.S. products in retaliation for President Donald Trump's latest planned increase, deepening the trade conflict between the two nations at a time when the president insists "China wants... Read More

The Latest Casualty Of Trump’s Trade War With China? California Wine
Trade
The Latest Casualty Of Trump’s Trade War With China? California Wine

HEALDSBURG, Calif. — Hank Wetzel’s vineyards stretch to the horizon, a swath of green straddling Sonoma County’s Russian River, farmed by generations of Wetzels for half a century. It is a long way from Shanghai. Nonetheless, seated outside his tasting... Read More

Federal Deficit Growing Faster Than Expected, Will Top $1 Trillion Next Year, Budget Office Says
Federal Budget
Federal Deficit Growing Faster Than Expected, Will Top $1 Trillion Next Year, Budget Office Says
2019-08-21 18:06:15
by Dan McCue

WASHINGTON - The federal budget deficit is growing faster than expected and will reach $1 trillion next year, the non-partisan Congressional Budget Office said Wednesday. Worse, over the next decade, the federal government will rack up $12.2 trillion in deficits... Read More

Trump May Try To Bolster Economy With Payroll Tax Cut
Economy
Trump May Try To Bolster Economy With Payroll Tax Cut
2019-08-20 20:43:58
by Dan McCue

WASHINGTON - President Donald Trump said Tuesday that his administration is considering a temporary payroll tax cut as a way to bolster the U.S. economy though he continues to insist the nation is not inching toward a recession. "I’ve been... Read More

Nearly Three-Out-Of-Four Economists Believe US Will Be In Recession by 2021, Survey Finds
Economy
Nearly Three-Out-Of-Four Economists Believe US Will Be In Recession by 2021, Survey Finds
2019-08-20 18:41:16
by Dan McCue

WASHINGTON — Seventy-four percent of U.S. business economists participating in a new survey believe the United States will slip into a recession by the end of 2021, despite the White House's insistence that the "fundamentals" of the economy remain strong.... Read More

Kudlow Pushes Back On Recession, Says U.S.-China Calls Positive
Economy
Kudlow Pushes Back On Recession, Says U.S.-China Calls Positive

WASHINGTON — Larry Kudlow pushed back Sunday on the notion that the U.S. economy is headed toward a recession, and said recent phone calls between U.S. and Chinese trade negotiators had produced more “positive news.” Kudlow, the White House National... Read More

Trump Calls Greenland ‘Interesting’ As Denmark Rules Out A Sale
Foreign Affairs
Trump Calls Greenland ‘Interesting’ As Denmark Rules Out A Sale

WASHINGTON — President Donald Trump said buying Greenland would be “a large real estate deal” that could ease a financial burden on Denmark, which administers the island, but hours earlier its Prime Minister Mette Frederiksen ruled out any sale to... Read More

Mulling Presidential Run, Mark Sanford Says Government’s Precarious Finances Are Nation’s Biggest Threat
Foreign Affairs
Mulling Presidential Run, Mark Sanford Says Government’s Precarious Finances Are Nation’s Biggest Threat
2019-08-16 22:33:48
by Dan McCue

WASHINGTON - Back home in South Carolina after a mid-week trip to New Hampshire, former Rep. Mark Sanford said Friday he was pleased with how things went in the Granite State and his decision on whether to mount a primary... Read More

Katko, Brindisi Launch Bipartisan Effort to Address Lake Ontario Woes
Foreign Affairs
Katko, Brindisi Launch Bipartisan Effort to Address Lake Ontario Woes
2019-08-15 20:24:06
by Dan McCue

WASHINGTON - Representatives John Katko and Anthony Brindisi have launched a bipartisan effort to hold the international commission that manages outflows from Lake Ontario accountable for recent historic flooding. Katko, a Republican, and Brindisi, a Democrat, have gotten the Government... Read More

As Recession Fears Grow, Trump Delays Tariffs On Some Chinese Goods
Economy
As Recession Fears Grow, Trump Delays Tariffs On Some Chinese Goods
2019-08-13 22:53:29
by Dan McCue

WASHINGTON -- After days of growing indications the U.S. may lapse into a recession before the 2020 election, the Trump administration announced Tuesday that it is delaying some of the additional tariffs it planned to impose on Chinese goods on... Read More

Houlahan, Balderson Lead Bipartisan Effort to Bolster Grants To Spark Small Business Innovation
Business
Houlahan, Balderson Lead Bipartisan Effort to Bolster Grants To Spark Small Business Innovation
2019-08-06 21:25:55
by Sean Trambley

Freshman Representative Chrissy Houlahan, D-Penn., was joined by Representative Troy Balderson, R-Ohio, to introduce bipartisan and bicameral legislation to enhance commercialization services for federally funded research and development.  Introduced in the House on July 18, H.R. 3839, the Research Advancing... Read More

US Labels China a ‘Currency Manipulator’ As Stocks Fall And Trade War Worsens
Trade
US Labels China a ‘Currency Manipulator’ As Stocks Fall And Trade War Worsens

WASHINGTON — The U.S.-China trade war took a dangerous turn for the worse Monday as Beijing allowed its currency to weaken and said it was halting new American farm purchases, sending U.S. stocks in a tailspin and heightening risks of... Read More

Fed Cuts Interest Rate Cut For First Time Since 2008
Economy
Fed Cuts Interest Rate Cut For First Time Since 2008

WASHINGTON — The Federal Reserve on Wednesday cut interest rates for the first time since the Great Recession in 2008, a risky move that clashes with its historical practice of taking such a step only when the economy is in... Read More

EPA Clears Path for Proposed Copper And Gold Mine Near Alaska’s Bristol Bay
Environment
EPA Clears Path for Proposed Copper And Gold Mine Near Alaska’s Bristol Bay

SEATTLE — Federal officials said Tuesday they would not block a proposed copper and gold mine near Alaska’s Bristol Bay despite objections by critics who contend it would imperil a fishery and harm wetlands and streams. The U.S. Environmental Protection... Read More

Industrial Emissions Targeted in New Bipartisan, Bicameral Legislation
Climate
Industrial Emissions Targeted in New Bipartisan, Bicameral Legislation
2019-07-30 21:58:09
by Sean Trambley

Last week, a bipartisan, bicameral coalition led by freshman Representative Sean Casten D-Ill., introduced legislation aimed at encouraging innovation that will reduce greenhouse gas emissions from industrial sources. Casten and his counterparts in the Senate, Senators Sheldon Whitehouse, D-R.I., and... Read More

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